Maniolas

MANILA, Philippines — Economic relations between the US and the Philippines are “unlikely” to suffer as a result of President Rodrigo Duterte’s comments against the country’s long-time ally, lender and development partner. “(It’s) unlikely to have impact,” Socioeconomic Planning Secretary Ernesto Pernia said in a text message on Tuesday. Budget Secretary Benjamin Diokno agreed. “There is unlikely to be any problem since investors are usually looking at macrofundamentals,” he said in a phone interview. Admitting he is not a “fan” of the US, Duterte said Monday that he intentionally missed a summit with US President Barack Obama but not before he criticized the US president over the possibility of raising human rights issues in the Philippine government’s war on drugs. Obama, as a result, cancelled his first bilateral talks with Duterte, who, upon returning to the country also called for a pullout of US troops in Mindanao. A Palace spokesperson later on clarified that no official policy has been made to such effect. According to separate official data, the US is the biggest source of equity foreign direct investment (FDI) last year, accounting for 61.8 percent of total at $271.72 million. “Most investors will focus more on the economy’s strong fundamentals. For as long as we are performing well, then that will be fine,” Diokno said. The US is also the largest holder of Philippine debt at $13.29 billion, equivalent to 17.11 percent as of the first quarter this year, but the Budget official said even this should not be Read More …

Regus Philippines now has 25 business centers, providing workspace solutions for both local and international companies in the Philippines. MANILA, Philippines – Regus, the global workplace provider, has announced that it has launched its first business center in Davao City. A rapidly developing and growing second-tier city, Davao City is expected to be the Philippines’ next up and coming hub for commerce, education and manufacturing – supporting and serving the Southern territories of the country and neighboring region. “With the rapid development of the Information Technology Business Process Outsourcing (IT-BPO) sector in the city, Davao is today one of the top BPO centers in the region. As we anticipate the influx of investors into the city, we are confident that this is the time to invest and grow with the city and the region. Regus will support as an‘incubator for investors,’ to establish and expand operations in Davao,” Regus Philippines country manager Lars Wittig said. Regus is partnering with Damosa Land Inc., the real estate arm of Anflo Management and Investment Corp., to lease the property for the new business center. Ricardo Floirendo Lagdameo, vice president of Damosa Land, added that such a collaboration would inevitably bolster Davao’s development. “We’ve received inquiries in the past from organizations interested in Davao, but they were unsure about the investment climate and landscape.This partnership with Regus reiterates the confidence that a global multinational has for Davao and the surrounding region in Mindanao,” Lagdameo said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Read More …

NATIONAL government borrowing fell by more than half in July from a year ago as it paid maturing foreign loans more than it borrowed, according to data from the Bureau of Treasury.