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The government may not be able to fund about half of the budget needed for its massive infrastructure program, dubbed Build Build Build, if the proposed tax reform bill is not passed into law, the Department of Finance said yesterday.

There is no fundamental reason to panic as the peso continued to weaken against the dollar due to the rising tension between the US and North Korea as well as the projected deficit in the country’s current account, the Bangko Sentral ng Pilipinas said yesterday.

The stock market managed to stay above the 8,000 level yesterday ahead of the release of second quarter gross domestic product (GDP).


ICTSI (International Container Terminal Services Inc.) chairman Enrique “Ricky” Razon is a long-time friend, and I know him to be one of those businessmen who is a stickler for “doing the right thing” all the time, insisting on the highest standards in every business he gets himself into — a principle that always pays off. One tangible proof is the impressive performance of ICTSI that reported a surge in both revenue and income for the first half of this year.

This coming Sept. 6, we shall name the latest winners of the ASEAN Business Awards 2017. The ASEAN Business Awards is a regional search for exceptional enterprises which have contributed to the economic and socio-cultural development of the region.

Between Uber and Grab, two of the more popular ride-hailing services operating in the country today, the former has gained better favor from potential customers for a number of reasons.

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The Bangko Sentral ng Pilipinas yesterday said banks and covered persons found to have engaged in money laundering face stiffer sanctions and higher fines under the revised implementing rules and regulations adopted by the Anti-Money Laundering Council.

Listed port operator Asian Terminals Inc. saw net earnings rise 17 percent in the first semester from a year ago due to higher revenue.

Phinma Energy Corp. nearly halved its net earnings in the first semester of 2017 on the back of higher costs and expenses and intense competition in the retail market.

The MVP Group is in talks with potential partners to expand its bulk water business in the ASEAN region, tycoon Manuel V. Pangilinan said yesterday.

Century Properties Group Inc. said its expansion into affordable housing and tourism would make the company more diversified by 2020.

DoubleDragon Properties Corp. reported a consolidated net income of P376.4 million in the first half of the year, up 161 percent year on year.

West Zone concessionaire Maynilad Water Services Inc. has allocated P291 million for its pipe replacement project to improve water quality and pressure in Quezon City.

Israeli investors are now looking at the Philippines with heightened interest after bilateral trade between the two countries experienced a revival last year.

BMI Research expects the Bangko Sentral ng Pilipinas to raise interest rates 50 basis points until next year as inflation is seen hitting the higher end of the two to four percent target this year.

The economy likely expanded within the seven percent to 7.2 percent range in the second quarter on the back of strong exports and agricultural output, as well as improved public spending, the Department of Finance reported yesterday.


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