Tag: bworldonline
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Marcos appoints top banker to MB
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PRESIDENT Ferdinand R. Marcos, Jr. has appointed banker Walter C. Wassmer to the Bangko Sentral ng Pilipinas’ (BSP) rate-setting body, according to a Palace statement. Prior to his appointment, Mr. Wassmer was a consultant and nonexecutive director of Sy-led BDO Unibank, Inc., the country’s largest bank in terms of assets.…
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PHL banks’ total assets up 12.4% as of end-May
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THE PHILIPPINE banking industry’s total assets jumped by an annual 12.4% as of end-May, Bangko Sentral ng Pilipinas (BSP) data showed.
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You win some, you lose some in peso battle
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THE PHILIPPINE peso’s steady decline against the dollar — an almost two-year record low — is no longer a black-and-white case of exporters and other dollar earners winning and heavy corporate borrowers losing big time.
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Visitor receipts rise by 33% in first half
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VISITOR RECEIPTS rose by 33% in the first six months of 2024, while international arrivals hit 3.17 million as of July 10, the Department of Tourism (DoT) said on Thursday. In a statement, the DoT said tourism receipts from inbound visitors hit P282.17 billion in the January-to-June period, about 32.8%…
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Factory output growth slows in May
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MANUFACTURING OUTPUT GROWTH eased in May as production of computer, chemical, and metal products contracted, the Philippine Statistics Authority (PSA) reported on Tuesday.
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NCR wage hike unlikely to hurt economy — NEDA
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THE NATIONAL Economic and Development Authority (NEDA) on Tuesday said the wage hike in Metro Manila would have little-to-no impact on growth targets, adding that it could be offset by an investment-driven expansion of the economy.
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PHL-US civil nuclear deal enters into force
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A CIVIL NUCLEAR cooperation agreement between the United States and the Philippines, which will pave the way for US companies to export nuclear technology and material to the country, entered into force on July 2. “The Agreement will enhance our cooperation on clean energy and energy security and strengthen our…
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New taxes key to generate higher revenues — report
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THE NATIONAL GOVERNMENT (NG) may need to impose new taxes or raise tax rates in order to meet its revenue goals, GlobalSource Partners said. In a report, GlobalSource country analyst Diwa C. Guinigundo said that the government is “bent on depending on intensified tax collection to fund the deficit.” “This…
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Operational synergies crucial in JFC’s acquisition spree — analysts
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FAST-FOOD giant Jollibee Foods Corp. (JFC) is actively pursuing acquisitions, a strategy that, according to some analysts, carries inherent risks, including potential challenges in maintaining operational focus.