GERMANY has expressed interest in helping develop the Philippines’ maritime, rail and aviation sectors, yesterday kicking off by signing of a letter of intent to cooperate in the maritime industry to facilitate improved connectivity between the two countries.
THE Department of Finance (DoF) said it has identified seven projects to be funded by the $1 billion concessional loan offered by South Korea last month, through its Economic Development Cooperation Fund.
SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) fell over 45% in May, according to data from the Treasury bureau.
AN INFRASTRUCTURE assistance scheme providing technical expertise will be set up to aid in carrying out the government’s infrastructure programs, forming part of the Asian Development Bank’s (ADB) pledged $100-million loan to the government.
FINANCE Secretary Carlos G. Dominguez III said that poor infrastructure is what keeps investors from setting up business process outsourcing (BPO) operations here, not the loss of incentives associated with the tax reform program.
Last month, the Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) officially announced the start of the rainy season. Not only would the season bring an average of 20 typhoons every year but also deliver with it the equally devastating southwest monsoon or “Habagat,” the effects of which we all have witnessed in the past years. On the other hand, the Marawi crisis has entered its seventh week and is not expected to end very soon.
THE Mines and Geosciences Bureau (MGB) said it will inventory the country’s water resources, specifically watersheds where miners are active.
THE Finance department said macroeconomic fundamentals remain sound and that the risk of the economy overheating, flagged by debt rating agencies, remains farfetched.
One of the greatest business disruptors in recent years has arguably been the rise and exponential growth of the “sharing economy.” An EY report on the sharing economy defines it as comprising new business models empowered by multiple disruptive technologies (i.e. cloud-based collaborative apps riding on high bandwidth, always-on mobile networks and the web) that exploit previously inaccessible information to instantaneously match consumer needs to idle capacity to create economic efficiencies.
THE COUNTRY’S net external liability position declined in the first quarter of 2017 despite persistent volatility on global markets, the Bangko Sentral ng Pilipinas (BSP) said on Friday.