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BSP cites importance of capitalizing the central bank

By Joann Santiago MANILA, July 29 (PNA) — A ranking Bangko Sentral ng Pilipinas (BSP) official countered allegations that the poor will not benefit from a well-capitalized central bank. BSP…

Go Negosyo Act to boost development of MSMEs

MANILA, July 28 (PNA) — The approval of Republic Act 10644: An Act Promoting Job Generation and Inclusive Growth through the Development of Micro, Small and Medium Enterprises or the…

Greenergy Holdings Inc signs incorporation documents of Lite Speed Technologies Inc

MANILA, July 28 (PNA) – Greenergy Holdings Incorporated (GHI), along with IT Group Inc. and Fab People Inc, has signed the incorporation documents of Lite Speed Technologies Inc, a proposed…

Meralco’s net income up by 2% to Php9.6-B

MANILA, July 28 (PNA) — The Manila Electric Company’s (Meralco’s) net income was up by 2 percent from Php 9.4 billion to Php9.6 billion, according to the company’s financial results…

President Aquino cites BSP recapitalization, investment grades as major economic achievements

MANILA, July 28 (PNA) — President Benigno S. Aquino III cited the completion of the P50-billion recapitalization of the Bangko Sentral ng Pilipinas (BSP), as well as investment grades received…

PHL end-April ’14 prepayment reaches USD 86.2M

By Joann Santiago MANILA, July 27 (PNA) — The Philippine government has taken advantage of the still low interest rate environment in the first four months of 2014 by prepaying…

Belmonte stresses need to re-focus on economic gains and opportunities for continued development

MANILA, July 27 (PNA) — Speaker Feliciano Belmonte Jr. said Sunday that Congress is ready to welcome President Benigno Aquino III for his State-of-the Nation Address (SONA) before the joint…

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…