PH, EU reach 'substantial agreement" on free trade deal
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) saw its profits breach P100 billion in the January to April period, as a sharp decline in expenses more than offset a drop in revenue. The BSP’s net income nearly doubled from the same period last year to P100.9 billion, according to data posted on the central
MANILA, Philippines — Young Filipinos are among the strongest believers in entrepreneurship in the Asia-Pacific region, with more than nine in 10 saying an “entrepreneurial mindset” could help them thrive in any occupation, a new study found. The Philippines posted a 94-percent agreement rate, among the highest in the region alongside Indonesia and Malaysia and
MANILA, Philippines — The Philippines will make a push for some of the world’s biggest technology companies to locate within the planned Pax Silica hub in New Clark City, where development work could begin as early as 2027. Among those on the government’s “wish list” are Apple, Nvidia, Taiwan Semiconductor Manufacturing Co., MediaTek, United Microelectronics Corp.,
MANILA, Philippines — The US government’s international investment arm has expressed interest in funding the construction of a second runway at Clark International Airport, according to state-run Bases Conversion and Development Authority (BCDA). BCDA President and CEO Joshua Bingcang said the US International Development Finance Corp. had already reached out regarding the project, which is targeted
MANILA, Philippines — The loan portfolio of the Social Security System (SSS) reached P170 billion as of September on steady demand across its regular and newer programs, including the recently launched microloan facility. At a press briefing, officials said the loan portfolio had expanded by about 5 percent from a year earlier, with SSS President and
MANILA, Philippines — The Philippines has sent another commercial shipment of fresh Carabao mangoes to Canada, this time targeting Vancouver as the government seeks to turn its recent entry into the Canadian market into a more sustained export opportunity. In a statement on Monday, the Department of Agriculture (DA) said that 1 metric ton of mangoes,
MANILA, Philippines — Booming aviation and logistics investments drove a sixfold surge in approved investments under the Bases Conversion and Development Authority (BCDA), the state-run corporation in charge of transforming former military bases into economic centers. In a statement on Monday, the BCDA said it had approved P49.96-billion investments during the January-to-June period, marking a 535
MANILA, Philippines — Mitsubishi Corp. is investing about P44.5 billion to substantially increase its stake in Ayala Corp., deepening a partnership that has spanned more than five decades. On Monday, the Philippines’ oldest conglomerate said it had signed a definitive agreement with the Japanese giant. It covers a combination of primary and secondary shares, including a
MANILA, Philippines — ACEN Corp., the listed energy arm of the Ayala Group, has moved to abandon two service contracts involving solar power projects in Quezon province and Zambales amid land issues. In a regulatory filing on Monday, the renewable energy producer said its subsidiaries have surrendered Solar Energy Operating Contracts No. 2024-08-938 and No. 2021-05-582.
Chinese President Xi Jinping will pay a state visit to the U.S. from Sept. 23 to 25 at the invitation of President Donald Trump, China's Foreign Ministry said in a statement on Monday.
TUGUEGARAO CITY, Philippines — Cagayan Vice Gov. Manuel Mamba began serving his 90-day preventive suspension on Monday, Sept. 21, after the Regional Trial Court in Batac, Ilocos Norte, denied his motion for reconsideration. Mamba said he respected the court’s order, stressing that the suspension was “not a penalty but a procedural requirement.” He said he
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