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PBCom raising P5 billion from LTNCD offer

Listed Philippine Bank of Communications is raising as much as P5 billion from the issuance of long-term negotiable certificates of deposits to beef up its long term funding......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

Inflation uptick not a cause for concern, says ADB

Multilateral lender Asian Development Bank said the faster increase in consumer prices should not be a cause for concern in the Philippines as monetary authorities are doing everything to curb rising inflationary pressures......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

DA wants 4Ps changed into livelihood program

The Department of Agriculture wants to change the conditional cash transfer scheme of the government into a livelihood program instead of giving monthly dole-outs to help contribute to farm productivity in the country......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

BDO expands credit card offering with Diners Club

BDO Unibank Inc. has further expanded its extensive line-up of credit card offerings with the addition of Diners Club International together with Discover Financial Services......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

Select buying ends 3-day market drop

The stock market recovered yesterday after three days of decline on select buying, analysts said......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

BSP further trims bank reserves

The Bangko Sentral ng Pilipinas decided yesterday to cut the level of deposits banks are required to maintain with the central bank, releasing close to P100 billion in fresh funds into the financial system to support the country’s growing economy......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

DOTr to act on NAIA Consortium rehab proposal within 2 weeks

The Department of Transportation may decide within two weeks if it would grant original proponent status to the group of seven conglomerates which offered to rehabilitate the Ninoy Aquino International Airport......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

US-Philippines free trade deal a step forward — DTI

The US and the Philippines are in agreement that a bilateral free trade deal is a step in the right direction moving forward for both countries, the Department of Trade and Industry said......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

Megawide seeks BCDA clarification on Clark O& M project criteria

Megawide Construction Corp., which is part of a group that bought bid documents for the Clark International Airport operations and maintenance, is seeking clarification from the Bases Conversion and Development Authority on the qualification preventing any company with majority equity interest in an international airport in the country from participating in the bidding for the project......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

Oil contractors worry over losing perks under TRAIN 2

The Petroleum Association of the Philippines is raising concerns over the second package of the Comprehensive Tax Reform Program which seeks to rationalize fiscal incentives as this could further stall the development of the country’s upstream sector......»»

Source: philstar philstarCategory: finance7 hr. 27 min. ago Related News

PBCom to raise up to P5 billion from LTNCDs

Philippine Bank of Communications (PBCom) is set to raise up to P5 billion by selling peso-denominated long-term negotiable certificates of time deposit (LTNCD). In a disclosure to the local bourse Thursday, May 24, the listed bank said its executive committee approved the filing of the application for issuance of up to P5 billion in one […] The post PBCom to raise up to P5 billion from LTNCDs appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

Customs intercepts P36.5-million worth of misdeclared shipments

THE BUREAU of Customs (BoC) on Thursday, May 24, busted anew smuggled cigarettes worth P36.5 million. The BoC said in a statement on Thursday that it snagged seven containers imported from China containing cigarettes that were declared to be agricultural products and household goods. “The actual contents found by the Customs authorities are very different […] The post Customs intercepts P36.5-million worth of misdeclared shipments appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

DoLE to release list of ‘endo’ violators

The Department of Labor and Employment (DoLE) will release the list of EO violators on Friday, May 25, as ordered by the Duterte administration last month. When asked how many are on the list, DoLE Undersecretary Joel Maglunsod stated that the number of companies is numbered at “3400 plus” which is higher than the 850 […] The post DoLE to release list of ‘endo’ violators appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

NAIA consortium may secure OPS for airport rehab project in two weeks — Tugade

The Department of Transportation (DOTr) is eyeing to grant in two weeks the original proponent status (OPS) to the consortium of seven conglomerates seeking to rehabilitate the Ninoy Aquino International Airport (NAIA). Transportation Secretary Arthur P. Tugade told reporters in a forum at Manila Marriott Hotel in Pasay City that they have received the revised […] The post NAIA consortium may secure OPS for airport rehab project in two weeks — Tugade appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

Stocks end six-day losing streak after Fed minutes hint at gradual rate hike

The main index snapped its six-day losing streak on Thursday, May 24, accelerating after the United States Federal Reserve announced its policy of gradual interest rate hikes for the rest of the year. The bellwether Philippine Stock Exchange index went back to the 7,600 level, climbing 1.22% or 92.06 points to finish at 7,652.53 yesterday. […] The post Stocks end six-day losing streak after Fed minutes hint at gradual rate hike appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

Fugitive Ozamiz councilor nabbed in Taiwan

The Philippine National Police (PNP) on Thursday, May 24, has confirmed the arrest of Ozamiz City Councilor Ricardo Parojinog in Taiwan. In a press briefing, PNP Spokesman PCSupt. John C. Bulalacao said Mr. Parojinog will face several cases for unlawful possession of firearms, ammunition, and explosives. It was also discovered Mr. Parojinog was pilfering electricity […] The post Fugitive Ozamiz councilor nabbed in Taiwan appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

Peso slides further after release of Fed minutes

The peso dipped against the dollar on Thursday, May 24, following the release of the minutes of the US Federal Reserve’s May policy meeting. The local currency ended Thursday’s session at P52.55 against the greenback, eight centavos weaker than the P52.47 finish on Wednesday. Thursday’s closing rate was the peso’s weakest finish in nearly 12 […] The post Peso slides further after release of Fed minutes appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

BSP further trims banks’ reserve requirement

The central bank announced another 1% cut in bank reserves on Thursday, May 24, marking the second adjustment this year as the regulator aims to reduce lending costs in the Philippines. In a statement, the Monetary Board announced that the reserve requirement ratio (RRR) imposed on universal and commercial banks will be trimmed to 18% […] The post BSP further trims banks’ reserve requirement appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

Swiss challenge for Marawi rehab proposals scheduled end of May

The government inter-agency task force group on Marawi City rehabilitation announced on Thursday, May 24, that the Swiss challenge period for proposals has been rescheduled for next week, “May 30 or 31.” Housing and Urban Development Coordinating Council (HUDCC) Chair Eduardo del Rosario said on May 15 that the Swiss challenge period was set to […] The post Swiss challenge for Marawi rehab proposals scheduled end of May appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News

Alsons plans to tap Japanese funding for first renewable energy project

Alsons Consolidated Resources, Inc. (ACR) plans to tap up to 700 million yen in Japanese government grant to build its first renewable energy project, the 15.1-megawatt (MW) run-of-river hydroelectric power project along Siguil River in Sarangani province. Tirso G. Santillan, ACR executive vice-president and chief operating officer, said the “joint credit mechanism” or JCM from […] The post Alsons plans to tap Japanese funding for first renewable energy project appeared first on BusinessWorld......»»

Source: bworldonline bworldonlineCategory: finance18 hr. 40 min. ago Related News