INFORMATION TECHNOLOGY (IT) spending in the Philippines is expected to grow by 11.4% to $6.76 billion this year, driven by strong consumer spending, healthy economic fundamentals and improved credit ratings, International Data Corp. (IDC) said on Thursday.
FOREIGN portfolio investment posted a net inflow in November to snap a streak of two months in the negative, amid a surge in overseas interest in the Philippine stock market last month.
THE PHILIPPINE economy is expected to weather shocks from Russia’s currency collapse and Japan’s recession because of the diversified nature of the country’s foreign exchange earnings, the economic planning secretary said on Tuesday.
CONTAINER YARDS at the two Manila ports are now only slightly more crowded than the ideal level of 80% utilization, the Philippine Ports Authority (PPA) said on Monday, even amid the influx of shipments in the run-up to Christmas.
BUSINESS GROUPS are resisting calls for a five-day holiday to coincide with the Papal visit next month, saying that the extra days off work are “unacceptable” and will hurt competitiveness.
IT’S THE most wonderful time of the year, with people worldwide gearing up for Christmas by dispensing gifts. The spirit of the season truly crosses all boundaries of culture, economic background or social status, and business people are definitely not immune to the wave of giving as they sign hefty checks to the objects of their generosity.
THE GOVERNMENT will postpone the open and competitive selection process (OCSP) for the 24 renewable energy resource areas that will be offered to local and international investors, an official from the Energy department said yesterday.
MORE HOUSEHOLDS that receive remittances from Overseas Filipino Workers (OFWs) allocated portions of the inflows into savings and investments this quarter, according to the Bangko Sentral ng Pilipinas (BSP) Consumer Expectations Survey (CES) released on Friday.
IN TAX, the latest global buzzword is “BEPS” or base erosion and profit shifting. BEPS refers to the practice of multinational corporations (MNCs) of shifting profits from high tax jurisdictions to low tax jurisdictions as a tax mitigation strategy.
AUTO assemblers said November sales were at a record 21,422 units, up 34.6%, amid continued strong demand for cars and commercial vehicles.