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The government is set to borrow P195 billion from domestic sources through the issuance of Treasury bills and Treasury bonds in the third quarter, the Bureau of the Treasury said yesterday.

Melco Resorts and Entertainment Philippines Corp., the operator of City of Dreams Manila, is doubling its authorized capital stock in preparation for future fund raising opportunities.

The local stock market tracked positive sentiments abroad to start the week on a strong note.

Columns

Solid Group Inc., which made big waves when they launched the country’s first truly Filipino phone brand MyPhone, is once again showing all and sundry that innovation is in their DNA.

Mistakes in proper names are almost unforgivable. In my column last week, the president of the ADB’s name Takehiko Nakao was mistaken.

It’s been almost one year since President Duterte assumed office with a very loud promise for change.

Latest Business News

The Department of Finance plans to collect about P114 billion in unpaid dividends from government-owned and -controlled corporations.

The Philippines is set to pursue an agreement with Singapore as part of efforts to open up the banking industry aimed at greater financial integration and economic development among members of the Association of Southeast Asian Nations.

The Bangko Sentral ng Pilipinas is clamping down on officials of banks and financial institutions that fail to submit required reports on time.

China-backed Asian Infrastructure Investment Bank (AIIB) has already approved the counterpart funding assistance for a $500 million flood control project in Metro Manila, the Department of Finance said.

The government is looking to tap assistance from the Chinese government to fund the segment of the Philippine National Railways from Manila to Bicol.

The Board of Investments (BOI) has officially scrapped the slot reserved for a third participant in its Comprehensive Automotive Resurgence Strategy (CARS) program, shifting its focus to a new program that will support the assembly of eco-friendly public utility vehicles (PUV) priced below P1 million, its top official said.

The Villar Group is venturing into tourism as another leg of business and is also open to the development of integrated resorts.

Off-grid energy producer DMCI Power Corp. anticipates a delay in the completion of its P900-million bunker-fired power plant in Irawan, Puerto Princesa City due to site issues.

The National Electrification Administration  is proposing a “comprehensive” emergency fund for electric power cooperatives  and its member-consumers to assist them in their disaster relief, recovery, rehabilitation and reconstruction efforts.

The Roll-On/Roll-Off transport system improved incomes of households in the port areas by seven percent as more economic activities were stimulated, state-run think tank Philippine Institute for Development Studies  said.

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