A benign inflation environment —with prices last month having risen at their slowest pace in almost three years, thanks to a large degree to the Rice Tariffication Law—may prompt the central bank to implement another round of monetary easing as soon as this month. Speaking to reporters Friday morning, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the 25-basis-point reduc...
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STATE-RUN Social Security System (SSS) is targeting a threefold increase in online transactions by next year to streamline services and save on operating expenses. SSS President and CEO Aurora C. Ignacio said the pension fund wants digital transactions to reach 32.3 million by 2020 from the current 10.54 million done via its six electronic channels. “We’re looking to turn the tab...
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MANILA, Philippines — Net inflows of foreign direct investments (FDI) fell by 48.5 percent to $430 million in June from $836 million in the same month last year due to the worsening trade war between the US and China, according to the Bangko Sentral ng Pilipinas. Based on a report from BSP, equity placements plunged by nearly 65 percent to $73 million in June from $208 million in th...
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April 01, 2019 Some P23 billion worth of investments in accommodation facilities are in the pipeline in the next two years as the hotel development industry catches up with the country’s booming local and domestic tourism. Samie Lim, chairman emeritus of the Philippine Franchising Association said 120 hotels are to be built to bring the number of rooms in the country to 100...
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More than 100 international hotel chains are expected to invest over P23 billion in the Philippines in the next three years, according to the Philippine Franchise Association. “Based on our estimates, there will be additional of at least 23,000 new rooms in the next three years. These will be more of the international hotel chain franchises. About 120 hotels will be built in the next thre...
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Suyen Corp., a retail conglomerate owned by Bench founder Ben Chan, is venturing into the real estate business through investment in Clark Global City of businessman Dennis Uy. Suyen and Global Gateway Development Corp. of Udenna Group signed a memorandum of agreement for the sublease of 2,886 square meters at the latter’s 177-hectare leasehold within the Clark Freeport Zone in...
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