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The national government’s debt, as percentage of gross domestic product, further shrank in the third quarter of the year amid faster than expected economic growth, data released by the Department of Finance showed.

The International Monetary Fund is strongly supporting the gradual lowering of the level of deposits banks are required to maintain with the central bank to single digit, in tandem with capital market reforms.

Dennis Uy’s Udenna Group is developing a new central business district within the Clark Freeport Zone following its acquisition of a 177-hectare prime property in the area.


Food break!!  It’s been all business in this column lately, so it’s time to check out B&L’s latest discoveries in food row.

It is a labor of love. Project Ripple has pulled off its first conference entitled: “Live Full.

Latest Business News

The Securities and Exchange Commission (SEC), the corporate regulator, is cracking down on lending companies that operate online especially on social media such as Facebook, Twitter, Linkedln and other websites.

Pryce Corp. is expanding the capacity of its liquefied petroleum gas (LPG) terminals to solidify its position as one of the country’s major distributors of cooking gas in Visayas and Mindanao, company officials said.

State-run Power Sector Assets and Liabilities Management Corp. expects the privatization of the 650-megawatt (MW) Malaya Thermal Power Plant in Rizal to proceed this year to be able to close the sale in 2018, its top official said.

The Department of Public Works and Highways is seeking a consultant for the feasibility study of the Quezon-Bicol Expressway project, which is being pursued as a regular solicited public-private partnership project.

The strong economic expansion in the second quarter gives monetary authorities flexibility to keep an accommodative monetary policy stance, according to the Bangko Sentral ng Pilipinas.

The Bangko Sentral ng Pilipinas (BSP) is expected to turn haw-kish and deliver a rate hike in the fourth quarter amid rising inflation and the continued weakening of the peso against the dollar, ING Bank and ANZ Bank said over the weekend.

The government’s rightsizing program will be high on the priority list of reforms under the Duterte administration, but would not result in mass layoffs, said Socioeconomic Planning Secretary Ernesto Pernia.

The Asian Development Bank (ADB) has signed an agreement with South Korea-based Green Climate Fund (GCF) to scale up its climate finance delivery in developing member countries.

Net profit of San Miguel Corp. unit South Luzon Tollway Corp. (SLTC) declined 19 percent to P750.61 million in the second quarter from P926.50 million a year ago due to higher cost of service.

The Philippine Retirement Authority (PRA), an attached agency of the Department of Tourism(DOT),  hopes to attract 10,000 new members this year.


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