DBCC cuts growth target for 2018
October 16, 2018
President Rodrigo Duterte’s economic team slashed on Tuesday the growth target for this year to reflect developments at the national and global level. Emerging from the 174th meeting of the Development Budget Coordination Committee at the Department of Finance, Budget
Peso improves to P53.96 against US dollar
October 16, 2018
The Philippine peso rallied to P53.96 against the US dollar on Tuesday, a gain of eight centavos from the previous day. The local stock index gained slightly but remained short of retaking the key 7,000 point level on Tuesday. The
EXCLUSIVE: NHK-Related Domain Put Up for Auction
October 16, 2018
Tokyo- The domain for a now-defunct official website of an organization related to Japan Broadcasting Corp., or NHK, has been put up for auction, Jiji Press learned Monday. The domain, nhk-grp.jp, was used for the online portal, NHK Group Net,
Personal remittances increase to $21.2 billion from January to August
October 15, 2018
Personal remittances from Overseas Filipinos (OFs) increased by 2.4 percent year-on-year to reach $21.2 billion from January to August, Bangko Sentral ng Pilipinas (BSP) Officer-in-Charge Maria Almasara Cyd Tuaño-Amador announced Monday. Personal remittances from land-based workers with work contracts of
Lawson Bank Launches Operations
October 15, 2018
Tokyo- Lawson Bank, a unit of major Japanese convenience store operator Lawson Inc., launched its services on Monday, trying to catch up with peers affiliated with rival retailers. Lawson Bank accepts account-opening applications from customers through smartphone apps or other
Stocks index declines, peso gains
October 15, 2018
The local stock index lost ground due to selling in the last hour of trading on Monday, as it fell below 7,000 points. The peso, meanwhile, gained five centavos to end at P54.08 against the US dollar from Friday’s P54.13.
DOF eyeing Catastrophe bonds, peso debt offers for offshore investors
October 14, 2018
The Department of Finance (DOF) is exploring a plan to sponsor a Catastrophe Bond (Cat Bond) to help cover disaster-related risks in the Philippines and a separate offer of peso-denominated securities to offshore investors. These proposals, along with a plan
Daikin to Raise Retirement Age to 65
October 12, 2018
Osaka- Major Japanese air conditioner maker Daikin Industries Ltd. will raise the retirement age for its employees from 60 to 65 in April next year if the company obtains its labor union’s consent, company officials said Friday. Daikin thinks that
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