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LandBank, LGU ink deal for disaster preparedness

By MAYVELIN U. CARABALLO, TMT October 01, 2019 State-run Land Bank of the Philippines has entered a term loan agreement with the Municipality of Lutayan in Sultan Kudarat to construct a two-storey municipal hall building that will also be used for its disaster preparedness program. In a statement, the LandBank …

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PGA Sompo earns AM Best ‘Good’ ratings

By The Manila Times October 01, 2019 PGA Sompo Insurance Corporation earned “Good” ratings on two aspects of its operations from global rating agency AM Best, which focuses on the insurance industry worldwide. The favorable outlook came as PGA Sompo, one of the biggest and fastest-growing non-life insurance corporations in …

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PH banks ‘well-equipped’ vs corporate debts fallout

By MAYVELIN U. CARABALLO, TMT October 01, 2019 Corporate debts in the Philippines are high but banks can handle if it escalates to any conglomerate fallout, International credit ratings agency Moody’s Investors Service said. In its Sector In-Depth report titled “Banks — Asia-Pacific: Risks from leveraged corporates grow as macroeconomic …

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MIAA ready for surge in passengers

By LISBET K. ESMAEL October 01, 2019 Airport authorities are ready for the expected influx of passengers this upcoming Christmas season. Manila International Airport Authority (MIAA) General Manager Ed Monreal said on Monday the Ninoy Aquino International Airport (NAIA) started to record higher passenger volume during the ‘Ber’ months, leading …

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P2.46B released for RCEF

By EIREENE JAIREE GOMEZ September 30, 2019 THE Department of Budget and Management (DBM) has released P2.462 billion for the credit and seed program components of the Rice Competitiveness Enhancement Fund (RCEF), the Department of Agriculture (DA) said over the weekend. In a statement, the DA said DBM has issued …

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More taxes on mining eyed

By MAYVELIN U. CARABALLO, TMT September 30, 2019 A lawmaker said he will soon file a House bill that seeks to increase excise tax on mining and impose a sovereign wealth tax on the industry. “Essentially, I am increasing the excise tax by 1 percent from 4 percent,” Albay Rep. …

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IPOs may boost trading

By TYRONE JASPER C. PIAD September 30, 2019 The local bourse may see some uptick from the upcoming initial public offerings (IPO) after weeks of weak trading. “Investors may be more interested in the upcoming IPO as prospects look good and due to the performance of the last IPO that …

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Govt debt up to P7.93T in Aug

By MAYVELIN U. CARABALLO, TMT September 30, 2019 THE national government’s outstanding debt rose to a record P7.93 trillion in August, boosted by the weaker local currency and net issuance of external and domestic loans, the Bureau of the Treasury (BTr) reported over the weekend. In a statement, the Treasury …

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Property values slightly higher in second quarter

By The Manila Times September 30, 2019 Residential property values grew marginally in the second quarter of the year amid higher prices of duplex, townhouse and condominium units, the Bangko Sentral ng Pilipinas (BSP) reported. The BSP over the weekend said its Residential Real Estate Price Index (RREPI) rose to …

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Inflation likely down anew in September

By ANNA LEAH E. GONZALES September 30, 2019 Inflation likely further decelerated in September as lower rice and electricity prices offset the uptick in crude prices, analysts polled by The Manila Times said. Projections for the month ranged from 1.0 to 1.9 percent with a 1.3 percent average, down from …

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