TOE the line. That’s the call from the mining association in the world’s biggest nickel ore supplier where members are facing a crackdown led by Philippine President Rodrigo R. Duterte, who’s said the Southeast Asian nation can live without the industry’s contribution entirely if need be.
THE PHILIPPINES will become increasingly dependent on Southeast Asian countries for imported goods amid the region’s economic integration, the Department of Finance (DoF) chief economist said.
INDIAN PHARMACEUTICAL companies have been invited to establish research and manufacturing operations in the Philippines by the Philippine Chamber of Commerce and Industry (PCCI), ahead of Southeast Asian economic integration.
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.
THE PASSAGE of a competition policy will ensure competitiveness of local industries in the planned Southeast Asian economic integration next year and in other trade arrangements eyed by the government, the Philippine Chamber of Commerce and Industry (PCCI) yesterday said.
THE PHILIPPINES’ exports and imports of commercial services grew in the fourth quarter of last year from the year before but still lagged behind those of other Southeast Asian countries, preliminary data from the United Nations Conference on Trade and Development (UNCTAD) showed.
MOTOR vehicle assembly in the Philippines grew by double digits last month from a year ago but still lagged behind that of other Southeast Asian countries, data from the ASEAN Automotive Federation showed.
PRODUCTION of motor vehicles in the Philippines grew by double digits in January but still lagged behind that of other Southeast Asian countries, data from the ASEAN Automotive Federation showed.
TRADE officials will be meeting with their Southeast Asian counterparts today in Myanmar to provide updates on their commitments to the planned economic integration next year and the Regional Comprehensive Economic Partnership (RCEP).
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) introduced yesterday new rules on foreign exchange (FX) transactions as it continues to align the framework with current economic conditions. In a statement, the central bank said it is now allowing the prepayment of BSP-registered short-term loans although subject to documentary requirements. At the same time, the BSP said it has dropped banks’ submission of documents to support reports on importations. The central bank also lifted its requirement to have private sector loans to be granted by banks’ Foreign Currency Deposit Units or Expanded (FCDUs) approved by the BSP. These loans, however, should be those directly funded from or collateralized by offshore loans or deposits of the lending bank. The last amendment in FX rules pertain to the “clarification of the prescriptive period for filing of requests for BSP registration of foreign direct investments and rules on cross currency swaps.” The central bank continues to assess its guidelines for FX transactions to make them suitable to current economic conditions. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The BSP will continue to review rules on FX transactions and make amendments thereto as necessary to ensure that the FX regulatory framework is appropriate considering current economic conditions,” the central bank said. Last month, the BSP eased restrictions on the movement of foreign-currency denominated funds to and from the country in preparation for the integration of Southeast Asian nations. The BSP on Oct. 18 issued Circular 815, which amended foreign exchange regulations Read More …