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General Government debt improves to 39.2% of GDP as of end-2013

MANILA, July 25 (PNA) — Philippine debt metrics continued to improve as an effect of the Aquino administration’s proactive liability management agenda. As of end-2013, the country’s general government (GG)…

Fitch affirms ratings of 4 PHL banks

MANILA, July 25 (PNA) — Debt watcher Fitch Ratings on Friday affirmed the ratings of four Philippine banks on back of their improving core capitalization and loan loss reserves. The…

LRTA Board approves awarding of P65-B LRT Cavite Extension Project to consortium

MANILA, July 25 (PNA) — After multiple delays, the Land Rail Transit Authority (LRTA) Board on Friday finally approved the awarding of the Light Rail Transit (LRT) 1 Cavite Extension…

IMF eyes rebound of PHL economy in H2 of 2014

By Joann Santiago MANILA, July 25 (PNA) — A ranking official of the International Monetary Fund (IMF) said the Philippine economy is expected to rebound in the second half of…

Aerospace industry discloses roadmap

MANILA, July 24 (PNA) — The country’s aerospace industry has presented their roadmaps during the 9th Trade and Industry (TID) Updates in Makati City Thursday. As presented by the Aerospace…

Peso, PSEi post improvements on better investors’ sentiment

By Joann Santiago MANILA, July 23 (PNA) — Both the Philippine peso and the local bourse posted gains Wednesday on the back of improving investors’ sentiment in the region. The…

Luzon reserve to stabilize at 768 MW on Thursday – NGCP

By Juzel L. Danganan MANILA, July 23 (PNA) — The Luzon grid’s reserve will stabilize at 768 megawatts (MW) on Thursday, according to the National Grid Corporation of the Philippines…

Basic Energy Corporation, Spanish firm to develop hydropower projects in PHL

By Juzel L. Danganan MANILA, July 23 (PNA) — Philippine firm, Basic Energy Corporation, and Spain’s From Energies International Limited has signed a memorandum of understanding (MOU) to develop hydropower…

7-yr PHL T-bond rate rise

MANILA, July 22 (PNA) – – Average rate of the Philippines’ seven-year Treasury bond rose to 3.742 percent during an auction by the Bureau of the Treasury (BTr) Tuesday. This…

Moody’s sees stable credit outlook for Asia Pacific; PHL to be insulated from projected China slowdown

By Joann Santiago MANILA, July 22 (PNA) – – Moody’s Investors Service sees the Philippines being insulated in the possible cooling of the Chinese economy. The Philippines, which is among…

Metrobank commences offer period for BASEL 3 Tier 2 notes

MANILA, July 22 (PNA) – – Ty-led Metropolitan Banking Corporation (Metrobank) started Tuesday the offering of its new series BASEL 3-compliant Tier 2 notes. In a disclosure with the Philippine…

BOI reports surge in inquiries for retirement homes investors in Cebu, PHL

CEBU CITY, July 21 (PNA) — The Board of Investments (BOI) has reported a surge of inquiries from investors wanting to set up integrated retirement facilities in Cebu and in…

BOC revenues grow 17.5% in June 2014

By Ferdinand G. Patino MANILA, July 21 (PNA) — The Bureau of Customs (BOC) has collected P27.33 billion for the month of June 2014, up by 17.5% compared to the…

Shell, Petron, Chevron and PTT Philippines to rollback gas prices by 30-35 centavos per liter

MANILA, July 21 (PNA) — Pilipinas Shell Petroleum Corporation (PSPC), Petron Corporation, Chevron Philippines Incorporated (CPI) and PTT Philippines will implement a rollback on their gasoline prices by 30 to…

PHL banking system now more ready for regional integration — BSP

By Joann Santiago MANILA, July 21 (PNA) — The Philippines’ banking system along with several other industries are now better positioned to face that ASEAN integration, which will commence in…