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The government incurred a fiscal deficit of P234.9 billion in the first 10 months, widening by nine percent from the P216 billion shortfall recorded in the same period last year amid the Duterte administration’s efforts to ramp up public spending, the Bureau of the Treasury reported yesterday.

The consolidated company for the food and beverage businesses of San Miguel Corp., the diversified conglomerate, will sell up to 30 percent to foreign investors to raise roughly $3 billion which could fund a war chest for future investments.

The local stock market succumbed to selling pressure yesterday, closing lower by 23.51 points, or 0.28 percent, to end at 8,265.68 while the broader All Shares gauge finished in the red at 4,846.38, down 5.30 points or 0.10 percent.


Isabella, my youngest daughter who is just 10 years old, had a choice during the long ASEAN week to either play with her cousins all day or attend the ASEAN Business and Investment Summit with her older siblings.

Doing business in the Philippines has generally been recognized for years as a strenuous activity akin to going to war, with successful newbies emerging battle-scarred, and the veterans too callous to even raise a squeak about bureaucratic red tape and ineptitude, and all forms of corruption.

You have to hand it to Generation X.  When we were growing up, we were told we could take on the world and save it from doom.  Decades later, Gen X-ers, now middle aged, but still comfy in faded blue jeans, are still doing it.

Latest Business News

The government kicked off the P458-million widening project for the Fort Bonifacio - Nichols Field Road Phase 1 in Taguig City to help decongest traffic.

State-run Social Security System is planning to tap a consortium of private insurance firms to insure some of the pension fund’s risks amid rising expenditure.

The measure that aims to institutionalize – both in private and government offices – an “optional four-day work week” as a means of maximizing and enhancing employees’ performance is now undergoing deliberations at the House of Representatives.

The Cement Manufacturers Association of the Philippines has decided to stop collating industry sales data and instead urged the government to collect the figures themselves.

State-run Land Bank of the Philippines is set to launch the first Overseas Filipino Workers Bank in Dubai in January next year, a few months behind the original target of September.

After several delays, the Department of Environment and Natural Resources may soon release its final assessment of the mining companies which had been ordered suspended and cancelled by former secretary Gina Lopez in an intensified government crackdown on mines.

The Bangko Sentral ng Pilipinas has adopted tighter corporate governance standards for banks and non-banks aimed at promoting prudence and greater accountability.

China is projected to overtake the US market as the second largest source of foreign arrivals this year, as the number of Chinese tourists is expected to further grow especially with the approval of the Visa Upon Arrival policy.

The Philippine Cement Importers Association has expressed its support to the campaign of the Department of Trade and Industry against substandard cement, lauding the agency’s new draft department administrative order on cement which has a provision repealing a previously issued “controversial” order.


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