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Jitters over the $412-million debt owed by bankrupt Korean shipbuilder Hanjin to big Philippine banks soured sentiment at the stock market on Friday, spoiling an attempt by the local stock barometer to return to the 8,000 mark.
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The government will abolish a state-run firm that has not fulfilled its mandate of designing and producing airplanes in its almost 45 years of existence.
Read more: State-run aerospace firm to be abolished for not making a single plane for 45 years
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In what could be an early indication of weakening long-term equity inflows, the central bank yesterday said only $461 million in foreign direct investments (FDIs) were recorded at the start of the fourth quarter of 2018, confirming a trend that began three months earlier.
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The government exceeded both its expenditure and revenue targets in November, resulting in a budget deficit of P8.6 billion.
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Value-added tax (VAT) refunds now have a steady source of funds as the government has allotted 5 percent of all VAT collections by the country’s two biggest revenue agencies for that purpose.
Read more: Gov’t allocates 5% of VAT collections for refund claims
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For many industries, the year ahead would bring lots of changes in the way business is done - and not all of it is good.
Read more: Businessmen calm nerves as Duterte’s untested TRAIN goes for full speed
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MANILA, Philippines — A former Philippine Navy chief has sounded the alarm over the security and strategic implications on the prospect of a Chinese takeover of a commercial shipyard in Subic.
Read more: Ex-Navy chief sounds alarm on possible Chinese takeover of Subic shipyard
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After a five-month battle between government forces and Islamic State-inspired terrorists that reduced Marawi City to rubble, a modern city is envisioned to rise from the ruins of this Lanao del Sur provincial capital, said an official of a government task force leading the city’s rebuilding.
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It isn’t so hard to be vegan after all.
Read more: Vegchon, lactation cookies and other vegan options
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BACOLOD CITY -- What could be the country’s longest bridge connecting the islands of Negros, Panay and Guimaras would no longer be a dream.
Read more: DPWH starts bridge project to connect Visayan islands
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