MANILA, Philippines (Xinhua) – Philippine shares closed 1.03 percent lower today. The benchmark Philippine Stock Exchange index declined by 70.72 points to 6,830.37. The all-share index also lost 33.87 points, or 0.82 percent, to 4,102.63. Trading volume reached 2.14 billion shares worth P5.23 billion ($120.31 million). There were 51 gainers, 117 losers while 53 stocks closed flat.
MANILA, Philippines – The peso rose against the dollar on Monday, closing at 43.485 from the previous day’s 43.56. Total volume transacted at the Philippine Dealing System amounted to $523.3 million, lower than the $1.032 million posted on Friday. The peso opened the week at 43.5.
MANILA, Philippines – The improvement in government efficiency and the fight against corruption helped the Philippines improve its competitiveness by six notches, the latest report from think tan World Economic Forum said. According to the WEF’s “The Global Competitiveness Report 2013-2014”, the Philippines is ranked 59th out of 148 economies, getting a total score of 4.29 fom the three sub-indexes of “basic requirements, efficiency enhancers, and innovation and sophistication factors.” “The trends are positive across most dimensions of the Index. In the institutions pillar (79th), the Philippines has leapforgged over the past years. The current government, which came into power in 2010, has made the fight against corruption an absolute priority; corruption had historically been one of the country’s biggest drags on competitiveness,” the report said. The Geneva-based think tank said the campaign against corruption boosted the Philippines’ standing in the ethics and corruption strategy, up from 135th in 2010 to 87th this year. “A similar trend has been observed in the government efficiency index,” the WEF said. However, the report said the Philippines still needs to improve its transport infrastructure (84th), particularly its airport (113th) and seaport (116th) facilities. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Also, while the labor market has become “more flexible and efficient over the years,” the Philippines still ranks a low 100th. “The recent successes of the government in tackling some of the most pressing structural issues are encouraging and proof that bold reforms and measures can yield positive results,” the report Read More …
MANILA, Philippines – The peso moved sideways against the dollar midday Monday, settling at 43.537 from the previous day’s 43.56. Total volume transacted at the Philippine Dealing System amounted to $196.8 million in the morning, lower than the $575.3 million posted the same period on Friday. The peso opened the week at 43.5.
STATE BORROWINGS fell by a fifth in May with both domestic and external liabilities of the government dropping in that month, data from the Bureau of the Treasury showed.
GOVERNMENT incentives under the planned automotive road map will be limited to vehicle assemblers engaged in export of completely built units (CBUs) to other Southeast Asian countries, a Cabinet official said.
WHEN news about fake nongovernment organizations (NGOs) related to the pork barrel scam hit the headlines, other non-stock, nonprofit organizations (NSNPs) attracted the probing eyes of the Bureau of Internal Revenue (BIR). As a result, the BIR issued on June 6, 2014 Revenue Memorandum Circular (RMC) No. 51-2014, which aimed to tighten the interpretation and treatment of tax-exempt NSNPs under Section 30 of the Tax Code.
MANILA, Philippines – American furniture brand La-Z-Boy through its exclusive partner BLIMS Lifestyle Group, Inc. (BLG) will seek prospective provincial dealers in major cities in the country at the three-day Franchise Asia Philippines 2014 international franchise expo on July 18 to 20 at the SMX Convention Center in Pasay City. The world’s number 1 producer of residential furniture and the lar-gest furniture manufacturer and marketer in the United States, La-Z-Boy would take the opportunity to meet prospective dealers and distributors in the country that are looking for a once in a lifetime business opportunity at the biggest franchising event in Asia. prospective partners from different regions are invited to visit the La-Z-Boy gallery at booth C80 where they can view La-Z-Boy’s state-of-the-art recliner units in a variety of designs and features. Visit them during the expo and find out why La-Z-Boy brand is synonymous to comfort and luxury. Photo shows BLG vice president Sam Gregory Lim (left) and BLG president Sam Frederick Lim (right) with La-Z-Boy Asia managing director Dhanakorn Kasetrsuwan at the La-Z-boy showroom in SM Megamall. For inquiries, please call 470-9170, 09178816999, or e-mail info@blimsfurniture.com.
DAVAO CITY — Mindanao should no longer have to bear with regular brownouts beginning on the second quarter next year with more power sources coming on line, but the Mindanao Power Monitoring Committee (MPMC) warned that the stability of supply will still depend on distribution utilities.
THE TRANSPORTATION department expects to start construction of the planned $6.03-billion North-South Commuter Railway in the third quarter of 2016 if it obtains the National Economic and Development Authority (NEDA) Board approval this quarter, an official said yesterday.