business

OceanaGold

Didipio, Nueva Vizcaya – OceanaGold Philippines, Inc. (OGPI) recently published information on its contributions to the local economy from its years of commercial manufacturing. The firm has provided the region with a total of P39.5 billion in the form of taxes, jobs, agricultural and social development assistance. It has remitted nearly 780-million pesos from a combination of 580-million in local business and 210-million in real estate taxes for Nueva Vizcaya

financial team

The financial team of President Rodrigo Duterte is confident that the sky-high inflation in 2018 will not occur again for the remainder of his term, as the government is ramping up reforms and external forces are becoming favourable. The Development Budget Coordination Committee (DBCC) even lowered the inflation outlook for 2019 to between 2.7% and 3.5% at its 176th session. The previous outlook was 2% to 4%. Due to the

ADB

The Asian Development Bank (ADB) has cut its 2019 growth prediction for the Philippines to 6.2 percent, primarily owing to government underspending at the beginning of the year that pushed first-quarter economic expansion to a four-year low. The Asian Development Outlook Supplement study published Thursday by the multilateral lender based in Manila showed a reduced gross national product (GDP) growth projection for this year from 6.4 percent earlier, even as

metro

At least 44 percent of the new Metro Rail Transit 7 is finished, the transportation department said Wednesday, as representatives led a press trip on a project segment ahead of the State of the Nation Address (SONA) of President Rodrigo Duterte. Twelve out of the 14 stations are expected to be operational by 2022, the Department of Transportation said during a press tour on a part of the project site.

money

France’s finance minister said that the post-war global monetary order required to be reinvented or become increasingly dominated by China. Since its founding at the Bretton Woods Conference in New Hampshire in July 1944, the pillars of that order, the International Monetary Fund and its sister institution the World Bank, have been governed by the United States and Europe. But globalization, the increasing populist backlash against it, and the rise

smartphone

Dito Telecommunity’s anticipated entry as a fresh mobile service provider could have a enormous effect on PLDT Inc., with a worldwide loan rater stating as much as 40 percent of brand profits could be at risk by next year. S&P Global Ratings said the new telecommunications service supplier could shake the mobile network scene and will certainly snatch clients away from the present giants. They expect the third licensed player

petrol station

PETRON Corp. is placing its development plans on the back burner in the Philippines as it is waiting to stabilize worldwide crude oil prices. Earlier, the listed oil refiner said it was spending $1 billion to upgrade its refinery and expand its retail network over the next three years. About $600 million of this expenditure was allocated for its development of the refinery in Limay, Bataan. Petron’s business is getting

National Museum

Specimens of oil first discovered from the disputed reef located inside the country’s exclusive economic zone (EEZ) were newly donated to the National Museum (NM) of the Philippines despite tempers rose as a result of the Duterte government’s handling of the Reed Bank incident involving Philippine and Chinese fishermen. They will now be part of its Natural History Museum collection. The specimens and artifacts containing of crude oil samples, oil

Jollibee

Domestic fast-food giant Jollibee Foods Corp. (JFC) is mounting its footprint in Vietnam as it plans to put up 20 to 30 new stores a year. JFC Chief Executive Officer Ernesto Tanmantiong, after the company’s stockholders’ meeting on Friday stated, “We look at the population of Vietnam which is close to 95 million, about the same in the Philippines and still fast-growing market so there is a lot of opportunities.”

apartment property

A second tower is being furthered to the Seda hotel in Bonifacio Global City (BGC) to cater to the growing demand for premier accommodations in the business district. The Seda BGC, which first opened in 2012, will have a ballroom that accommodate up to 420, a restaurant with 220 seats, and a chic lobby. The hotel will have 521 rooms, consisting of guest rooms, suites and serviced residences once completed