Business

ADB projects PHL to post highest growth in Southeast Asia

MANDALUYONG CITY – The Asian Development Bank (ADB)  maintained its 2023 Philippine economic growth projection, forecasting the country as the fastest-growing economy in Southeast Asia this year. In its ADB Outlook July Update, the bank said the country’s gross domestic product…

TRUE OR FALSE Claire Morales True: Bangko Sentral ng Pilipinas Governor Remolona a US citizen for many years

    SAN FRANCISCO – Do you know that newly appointed Bangko Sentral ng PIlipinas (BSP) Governor Eli M. Remolona was based for a long time in the United States and acquired US citizenship in the process and as such…

PHL gov’t debt hits record ₱14.10 trillion as of May

By Jeanne Michael Penaranda   MANILA  — The national government’s total outstanding debt climbed to a new record ₱14.10 trillion by the end of May this year, the Bureau of the Treasury reported. This means that in less than a year…

Philippine peso may breach P59 to a US dollar

MANILA – The Philippine peso may fall to its weakest level of P59 a dollar just like in October last year if it continues to weaken to P56.50 in the short term. This is the projection of the foreign exchange…

MELANDREW T. VELASCO: SMC and government infrastructure projects

Being an archipelago, our country faces many challenges in terms of connectivity—not only digital but also physical through infrastructure and transport. Matching infrastructure is needed to maximize economic growth. In the past post-EDSA administrations, the infrastructure program has been carried…

Graton Resort & Casino Breaks Ground on $1 Billion Expansion; New construction begins on parking structure and will eventually include additional casino and resort buildings

ROHNERT PARK, California (June 15, 2023) – Graton Resort & Casino, the Bay Area’s premier gaming destination, hosted a groundbreaking ceremony today to celebrate the expansion of the Rohnert Park resort. A new parking structure with solar panels was set…

After heated debate, Senate passes Maharlika Investment Fund bill

By Jennifer T. Santos PASAY CITY – Despite heated debate and some opposition in and out of the Senate, senators approved on third and final reading at 2 a.m. on May 31 the bill seeking to establish the controversial Maharlika…

Philippine debt rises to P13.91 trillion as of April

MANILA — The national government’s total outstanding debt reached another all-time high of P13.91 trillion as of the end of April 2023, the Bureau of Treasury reported. The total is P54.24 billion or 0.4 percent more than that of the…

California firm, Ayala group ink pact on e-motorcycles; Marcos secures $1.3 B investment pledges

By Claire Morales True, Managing Editor WASHINGTON D.C. – President Ferdinand R. Marcos Jr.  witnessed the signing of a memorandum of agreement (MOA) between Integrated Micro-Electronics Inc. of the Ayala Group and California-based Zero Motorcycles on a partnership to manufacture electric…

Boosting ties, Biden sending top presidential trade, investment mission to PHL

By CLAIRE MORALES TRUE, Managing Editor WASHINGTON D.C. – In a big boost to the resurgent friendly ties with the Philippines, US President Joseph Biden is sending a “first of its kind” presidential trade and investment mission to the Philippines….