$50-B FDI, 3M jobs eyed in 10 years

Credit to Author: Anna Leah E. Gonzales| Date: Wed, 02 Dec 2020 17:36:41 +0000

The Joint Foreign Chambers of the Philippines (JFC) said on Wednesday it aimed to have new foreign direct investments (FDI) in the Philippines reach $50 billion by 2030, and that the country could realize its “enormous” potential with the right policies in place. At the Ninth Arangkada Philippines Forum conference, Peter Hayden, president of the […]

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Govt offers second US dollar bonds for 2020

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 02 Dec 2020 17:25:37 +0000

The government returned to the international bond market this year with its second offering of global bonds, from which it aims to raise more funds to support its budget. Based on the government’s initial guidance, the benchmark-sized dollar bonds are dual-tranche with 10.5-year and 25-year tenors. The 10.5-year bonds will mature on June 10, 2031 […]

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Reduce use of raw materials, firms told

Credit to Author: Anna Leah E. Gonzales| Date: Wed, 02 Dec 2020 17:22:56 +0000

Manufacturers must minimize their use of raw materials sourced from natural resources in order to safeguard not only the environment, but also themselves and their consumers, an official of the Department of Trade and Industry (DTI) said on Wednesday. During the “Manufacturing in the New Normal” webinar of the Center for Strategy, Enterprise & Intelligence […]

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BIR collects P548M from closed shops

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 02 Dec 2020 17:19:35 +0000

The Bureau of Internal Revenue (BIR) raked in millions of taxes from closed shops in the first nine months of the year, according to the Department of Finance (DoF). In a statement on Wednesday, the Finance department said the tax bureau had collected P547.9 million in taxes from January to September from 178 commercial establishments […]

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US stimulus plan helps buoy PSEi

Credit to Author: Faye Almazan| Date: Wed, 02 Dec 2020 17:16:14 +0000

The stock market continued to rally on Wednesday on the back of Tuesday’s gains and a new economic stimulus package unveiled by American lawmakers. The bellwether Philippine Stock Exchange index (PSEi) rose by 1.01 percent or 71.06 points to close at another intraday high of 7,080.62 while the broader All Shares gained 0.53 percent or […]

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Creba backs passage of Create

Credit to Author: Anna Leah E. Gonzales| Date: Wed, 02 Dec 2020 17:14:31 +0000

THE Chamber of Real Estate and Builders’ Associations Inc. (Creba) on Wednesday called for the passage of the Corporate Recovery and Tax Incentives Reform Act (Create) to ramp up the country’s economic recovery. In a statement, Creba said Create would help businesses recover from the coronavirus disease 2019 (Covid-19) pandemic by enhancing the country’s ability […]

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Fishpond inventory for mangroves needed

Credit to Author: Eireene Jairee Gomez| Date: Wed, 02 Dec 2020 17:12:01 +0000

Experts on Wednesday called on the Bureau of Fisheries and Aquatic Resources (BFAR) to conduct a full inventory of fishponds in Manila Bay that can be used for the reversion and rehabilitation of mangroves, whose number has been declining for decades. During the “Reverting Abandoned, Underdeveloped, Unutilized Fishponds into Mangroves” webinar, Wilfredo Yap, executive director […]

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Moody’s: RCBC, PNB credit outlook negative

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 02 Dec 2020 17:10:16 +0000

Moody’s Investors Service has lowered its outlook for the credit ratings of the Rizal Commercial Banking Corp. (RCBC) and Philippine National Bank (PNB) from stable to negative, indicating that those ratings may be downgraded. In a statement on Tuesday night, the New York-based credit rating agency explained that the outlook change on RCBC’s rating reflected […]

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