For Monday’s second consecutive trading day, the Philippine peso appreciated against the US dollar, bolstered by optimism about China-U.S. trade talks. To close at P51.08:$1 from P51.135:$1 Friday, the local currency gained 5.5 centavos. Market economist Guian Angelo Dumalagan, Philippine Land Bank, said the peso-dollar rate was influenced by progress in trade talks between China and the United States. The office of the U.S. Trade Representative said top-level negotiators had
Kepwealth Property Philippines will be the first firm in the country to launch an original government offering (IPO) for 2019, with both the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC) providing the green light. The property leasing and asset management company will use the KPPI stock symbol. It is planned to sell up to P384.8 million common shares at a cost of up to P5.74 per
Liza Soberano expressed her appreciation to boyfriend Enrique Gil for sacrificing job to maintain her business in the United States. In order to treat a finger injury, the actress had to remain in the US for three months. She informed her manager Ogie Diaz that Gil went to visit with his sister Andie and that he remained with her for more than a month. She said Gil talked to his
Former senator Antonio Trillanes IV said Tuesday President Rodrigo Duterte confessed to the plunder crime when he said that he and his former assistant, now Senator Christopher “Bong” Go, intervened in the Philippine Navy’s fleet agreement. He added that Duterte’s admission of his and Bong Go’s participation in the frigate scam is simply admission to the plunder crime. He stated that the results during the Senate investigation showed that Duterte
A part of Skyway Stage 3 was partly launched on Monday, July 22 from Buendia in Makati City to Paco in Manila. The section of Buendia-Paco is 3.7 kilometers away, with the exit via the Plaza Dilao Ramp. One northbound lane and one southbound lane were opened out of a total of 6 lanes. Secretary for Public Works and Highways Mark Villar said this would ease traffic congestion in Buendia.
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
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
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
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.
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