Economic growth could hit no less than six percent in the first quarter of the year as consumption and investments offset a weakness in the trade sector, an official of the International Monetary Fund (IMF) said.
“We are expecting something close to six (percent) even on a quarterly basis,” IMF resident representative Shanaka Jayanath Peiris told reporters on Tuesday night. The IMF, he said, still foresees six-percent economic growth for the Philippines this year, slightly slower than the 6.6 percent in 2012. The Aquino administration is targeting a growth of six >>Read Full Article<<
Share prices climbed for the second straight day yesterday on the back of Wall St.’s rally given signs of continued US Federal Reserve stimulus.
|  Gov’t expects tourism receipts to hit $8B by 2016
In line with heightened efforts to boost the country’s tourism industry, the government is eyeing to double its tourism receipts to $8 billion in 2016, a tourism official said.
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LATEST BUSINESS NEWS
Investors are shunning concerns of high valuations, continuously pouring in money to the overvalued local bourse on the back of the Philippines’ “promising” economic story, an investment bank said.
Philex Mining Corp., the country’s largest miner, is looking to raise P12 billion through a share sale to existing stockholders early in the second half.
San Miguel Corp. (SMC) president Ramon Ang said they are continuously searching for more investments, adding there are not enough investment opportunities available for a conglomerate as big as them.
The Philippines and Brazil have inked an agreement on air services yesterday to further boost travel between Manila and Sao Paolo, a ranking official of the Civil Aeronautics Board (CAB) announced yesterday.
Philippine Long Distance Co. (PLDT) has been cited in four out of the seven corporate categories in a survey by regional publication FinanceAsia.
Cosco Capital Inc., the newly-structured investment holding firm of tycoon Lucio Co, quadrupled its earnings in the first quarter on the back of the strong performance of its retail businesses.
The country’s largest group of real estate developers and builders has called on the Department of Finance (DOF) to reconsider its proposal of removing mass housing from the latest Investment Priorities Plan (IPP).
State-run Land Bank of the Philippines posted a 13-percent increase in its loan portfolio to P274 billion in the first quarter of 2013, from P243 billion in the same period last year.
Megaworld, the country’s leading real estate developer, has tapped international design firm Gettys for condominium projects in the Makati Central Business District.
Supermarket chain Puregold Price Club Inc. has teamed up with Metropolitan Bank and Trust Co. to launch a credit card which will be available for sari-sari store owners.
Detroit auto factories are forgoing their traditional two-week summer break and speeding up production to meet buyers’ growing demand for new cars and trucks.
Japan’s central bank says the world’s third-biggest economy is “picking up” as demand recovers in other countries and remains resilient at home, though the trade deficit widened in April, for the tenth straight month.
Sysco, an American marketer and distributor of food products, is planning to import coconut water as well as calamansi from the Philippines.
Singapore-based information technology solutions provider Danateq Pte. Ltd. is bent on transforming the Philippines as its global production hub to complement its research and development (R&D) operations in Russia.
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