Some 446 information technology-business process management (IT-BPM) companies registered with the Philippine Economic Zone Authority (PEZA) have applied to shift their registration to the Board of Investments (BOI). PEZA said these firms made it to the December 16 deadline imposed to submit an application. They also represent 41 percent of the 1,088 IT-BPM registered busi...
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(Bloomberg) -- The Philippine economy likely expanded much faster than the government’s target of 6.5% to 7.5% last year and is forecast to grow by around 6.5% this year amid a strong manufacturing sector, stable banking system and record low unemployment, Finance Secretary Benjamin Diokno said. Diokno said an expected slowdown in the global economy could impact growth for 2023 but it&rsq...
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(This is the second of a two-part property market outlook by Colliers Philippines) MALL OPERATORS should brace for more foreign and local retailers as consumer confidence and foot traffic pick up this year. Major mall developers have been reporting that consumer traffic has now reached between 85%-95% of pre-COVID levels in the third quarter of 2022 from only 40% a year ago....
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What is an REIT? REITs are companies that own, manage and finance real estate properties. The main difference between REITs and other real estate investments is that REITs are highly liquid. A REIT can be bought and sold on the stock market and traded in the same way as mutual funds or individual stocks. You can simply log into your brokerage and choose the REIT you want to invest in. Afte...
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Savya Financial Center, was recently unveiled with His Excellency President Ferdinand R. Marcos Jr. leading the ribbon-cutting ceremony. During his keynote speech, the President said this new financial hub is a welcome space for small and medium local enterprises, to find and create meaningful opportunities for their businesses. Built in partnership between Arthaland, Esquire Financing Inc. and...
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The government would prefer building high-rise housing units instead of replicating the BLISS mid-rise housing program in the 1980s to address the country’s backlog and catch up with the rising need for decent shelter, President Ferdinand R. Marcos Jr. said Monday. Speaking during the ceremonial turnover of house and lot units from the National Housing Authority (NHA) in Naic, Cavite, the...
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