Category Archives: Business

Strong growth in OFW remittances recorded in August

MANILA — Remittances of foreign currency by expatriate Filipinos continues to rise as of August 2017, thanks to sustained inflows from workers with both long- and short-term employment contracts, the Bangko Sentral

Lapeña sacks 38 Customs execs, brings in trusted people

MANILA — Customs Commissioner Isidro Lapeña has relieved 38 bureau officials who apparently disregarded his marching orders to stop corruption and “benchmarking” in their respective posts. Benchmarking involves imposing a discretionary value,

Special incentive package awaits PUV assemblers

MANILA — The Board of Investments (BOI) is crafting a specific incentives package for the manufacturers and body builders of the modern Philippine utility vehicles (PUV) that will complete the government’s CARS

World economy is picking up speed – IMF

WASHINGTON — The world economy is picking up momentum. The International Monetary Fund on yesterday raised its forecast for global growth to 3.6 percent this year and 3.7 percent in 2018. For

Foreign investments at one-year low in July

MANILA — The net inflow of foreign direct investments (FDI) plunged to a one-year low in July due mainly to lower investments in debt instruments or lending by parent firms from abroad

World Bank trims Philippine growth outlook

MANILA — The World Bank has trimmed anew its growth forecast for the Philippines to 6.6 percent this year and 6.7 percent in 2018 and 2019, citing a slower-than-expected implementation of public