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Cebu-based retailer Metro Retail Stores Group, Inc. (MRSGI) has earmarked between P10 billion and P15 billion for capital expenditures in the next five years, including the P1.7 billion to P2 billion set aside for this year and…
Two major infrastructure projects are expected not only to drive tourism arrival growth but also encourage more developers to undertake city or resort hotels in Cebu. Julius Guevara, director and head of research of Colliers International Philippines,…
Given the slowdown in the vertical residential segment because of oversupply concerns, a real estate services provider said it would be best for condominium developers to look at condotels, serviced apartments and other condominium units for the…
Telecommunications giant Philippine Long Distance Telephone Co., Inc. (PLDT) reported a 34-percent decline in its net income to P6.2 billion in the first quarter of 2016, proving that the transition to digital multimedia communications is difficult. “Our…
A central bank official yesterday reminded banks to strictly implement the bank secrecy law amid the controversy over Davao City Mayor Rodrigo Duterte’s account. Republic Act No. 1405, also known as the bank secrecy law, prohibits the…
AS the May 9 elections draw near, the Bangko Sentral ng Pilipinas (BSP) yesterday urged the public to be “extra vigilant” against counterfeit banknotes. Leonides B. Sumbi, BSP director for Visayas, also stressed that the central bank…
The International Monetary Fund’s growth projections for the Philippines this year, although lower than the original targets and the government’s own projections, remain at a respectable level amid the global headwinds, Socio-Economic Planning Secretary Emmanuel F. Esguerra…
International Monetary Fund (IMF) resident representative Shanaka Jayanath Peiris said the next president should be capable of sustaining the Philippines’ good performance by spending more for infrastructure, trading more and attracting more foreign direct investments (FDIs). Peiris,…
The Philippines is well-positioned to ride through the global economic slowdown but should maintain its prudent fiscal policy focusing on increased infrastructure spending to attract more investments, an International Monetary Fund (IMF) official said. Shanaka Jayanath Peiris,…
Office rental rates in Metro Cebu will continue to grow, but at a more conservative pace, as new office spaces are completed, real estate firm KMC MAG Group, Inc. said. Growth in take-up will continue to be…
Ayala-led Cebu Holdings, Inc. (CHI) has earmarked more than P13 billion for its identified projects in Metro Cebu in the next five years. This includes the P5.8 billion that has been set aside for capital expenditures this…
The Department of Trade and Industry (DTI) will launch tomorrow a shared service facility for handloom weaving at the Cebu Technological University (CTU) Argao campus in southern Cebu. The facility, which is estimated to cost P825,000, is…
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