The local stock market surged on expectations of another rate cut by the Monetary Board later this week. The main index rallied by 129.90 points or 1.77 percent to close at 7,456.31 as the Property sector led the charge although Miners declined due to lower gold prices. Volume was higher at 553...
Large real estate developers in the country have voiced their support for proposed legislation aimed at extending the Bases Conversion and Development Authority’s (BCDA) corporate term. Filinvest Land Inc. (FLI), Ayala Corp., Megaworld Corp., and Hann Development Corp. have submitted letters of...
Department of Social Welfare and Development (DSWD) Secretary Rex Gatchalian denied that the agency turned down requests from the Office of the Vice President (OVP) for financial aid such as the Assistance to Individuals In Crisis Situations (AICS). Gatchalian had this to say during the hearing of...
The PSEi inched up on some bargain-hunting after last week’s correction and as investors wait for market moving news to be released later this week. The main index added 16.09 points or 0.22 percent to close at 7,326.41 as Miners led the advance with only the Services counter in the red. Volume...
State-owned Bases Conversion and Development Authority (BCDA) has partnered with Korean business experts to bolster its efforts in developing New Clark City into a premier investment and tourism destination in Asia. During the Philippines-Korea Business Forum, BCDA signed three memoranda of...
The local stock market fell as investors worry about the possible impact of the higher-than-expected US inflation rate might have on interest rate cuts. The main index dropped 101.15 points or 1.36 percent to close at 7,310.32 with the interest rate-sensitive Property sector suffering the biggest...
The World Bank has cited progress in the Department of Agriculture's (DA) rural development project scale-up, for which the Philippines borrowed $600 million or over P34 billion last year. "The overall project's initial implementation performance is considered satisfactory. Implementation and...
DAVAO CITY – Mindanao Development Authority Chairman Secretary Leo Tereso Magno urged the government and participants of the 1st Mindanao Infrastructure Summit here on Thursday, October 10, to act and transform Mindanao from a "land of promise" into a "land of fulfillment." MAGNO...
The Bases Conversion and Development Authority (BCDA) has partnered with LBS Digital Infrastructure Corporation (LDIC) to improve internet access in several of its key developments. Joshua M. Bingcang, BCDA president and chief executive officer, said the partnership aims to accelerate the...
The Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and Export Import Bank of Korea (KEXIM) vowed to support the Laguna Lakeshore Road Network (LLRN) project. The ADB has committed $1.2 billion as the initial tranche of funding, while the AIIB is contributing $188...
President Marcos' economic team plans to reassess the country's macroeconomic assumptions following a significant slowdown in consumer prices, the Department of Budget and Management (DBM) said. Budget Secretary Amenah F. Pangandaman said that the economic managers might consider revising the 2024...
With about three-fourths of loan proceeds reaching billions of pesos still unspent just months before they expire, the Philippines wants to extend for two more years the financing for a delayed major flood control project in Metro Manila, the country's business and commercial hub that's also the...
