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Foreign borrowings rise to $14.5 billion in 2023

Data released by the central bank yesterday showed foreign borrowings approved by the BSP amounted to $14.49 billion in 2023, $4.17 billion higher than the $10.32 billion obtained in 2022 from foreign lenders./Edd Gumban  MANILA, Philippines — Foreign borrowings approved by the Bangko Sentral ng Pilipinas (BSP) jumped by more …

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Hong Kong Tourism Board names regional director for Southeast Asia

The Hong Kong Tourism Board (HKTB) announced the appointment of Liew Chian Jia as regional director for Southeast Asia effective Jan. 11, 2024. Liew will lead the development and implementation of HKTB’s marketing strategies in Southeast Asia. HKTB executive director Dane Cheng expressed confidence in Liew’s capability in her new …

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Five firms keen on supplying 660 MW to Meralco for summer

Five companies participated in the pre-bid conference for Manila Electric Co.’s competitive selection process (CSP) or bidding covering its combined 660 megawatts (MW) of interim supply requirement in preparation for the expected increase in demand during the dry months. Meralco on Monday held the pre-bid conference for its 260-MW peaking …

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These fast food jobs are going to robots

As companies cope with worker shortages and higher labour costs, robots are showing up behind the counter at many big fast food chains.  Restaurants add automation to cut costs, boost speed. Flippy is making burgers, Chippy is cooking french fries, and Remy is serving up salads. Customers may not even …

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Gov’t allocates over P2b to fund cancer control program

Budget Secretary Amenah Pangandaman  The Marcos administration allocated more than P2 billion for the implementation of Cancer Control Program and Cancer Assistance Fund under the 2024 General Appropriations Act (GAA), the Department of Budget and Management (DBM) said Friday. “This government, under the leadership of President BBM, is advocating for …

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PH to stay fastest-growing economy in ASEAN+3 in ’24’

The Philippines, which likely posted the highest growth among the 10 members of the so-called ASEAN+3 economic bloc in 2023, is expected to retain its status this year, according to an international organization that monitors the macroeconomic and financial resilience and stability of the region.  The ASEAN+3 Macroeconomic Research Office …

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