Announcements

Economy

· Exports growth surges 24.4% · Forex reserves down to $79.8Bn · Government spends P208.45Bn for debt payment · Above 7% PH growth hard to meet · Fast-tracking of foreign inves

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Business

· FDI rose in January due to positive sentiment · Manufacturing growth eases in February · More firms to raise funds from bond market · Foreign chambers urge government to address t

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Infrastracture

· PH gets Category 1 aviation safety upgrade · PPP winner to comply with ‘due process’

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Company News

· Cosco Capital posts strong growth in 2013 · ICTSI allots $130Mn for project in Iraq · ALI boosts hotel portfolio in Metro Manila · Meralco posts lower profits in 1Q · CIC to

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Congresswatch

· Congress realigns P21Bn PDAF

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Events

Joint Foreign Chambers Energy Forum with Hon. Carlos Jericho Petilla Secretary Department of Energy

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ANZAC DAY 2014

The Australian and New Zealand Embassies will again jointly host the 99th ANZAC Day dawn service commemoration in Manila.

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Meetings

The Joint Foreign Chambers (JFC) recently held a meeting with Department of Tourism Secretary Mon Jimenez on April 10, Thursday, 10:00 am in Makati City.

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Business Updates

Noy signs law on cigarette pack warnings, entry of foreign bank

Heavy smoker President Aquino has signed five bills into law, including one that requires the graphic health warnings on cigarette packs. Aquino, a heavy smoker, will now have to contend with Repub

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Typhoon to cut GDP growth in Q3

Typhoon “Glenda” likely shaved at least P7.8 billion to as much as P10 billion off the country’s third-quarter economic output a day in terms of property damage as well as business and consumpti

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Manufacturing growth eases in February

Factory output growth further eased in February, with preliminary results of the Monthly Integrated Survey of Selected Industries showing the volume of production index up by 1.2% year on year, slowin

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More firms to raise funds from bond market

The Philippine Dealing and Exchange Corp. (PDEx) expects to grow by leaps and bounds the amount of money raised in the bond market as companies scramble to take advantage of the liquidity in the marke

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Foreign chambers urge government to address truck ban issue

The Joint Foreign Chambers (JFC) and Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI) are calling on the government to come up with measures to address the expected rise in tra

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TRO on P10Bn Palawan project drives investor away

An affiliate company of the Manila Ocean Park at Rizal Park backed out from its plan to put up a P10-billion resort hotel in Coron, Palawan after the National Commission on Indigenous Peoples (NCIP) i

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BSP expects more mergers among small banks

A number of rural and cooperative bank merger and consolidations is expected to occur this year, a Bangko Sentral ng Pilipinas or BSP (central bank) official said. The central bank has been supporting

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DOTC vows to wipe out transpo backlog in 10 yrs

The Aquino administration aims wipe out the backlog in transportation infrastructure in the Philippines over the next five to 10 years. “We envision erasing the backlog in transportation infrastr

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