Deal on internet infra, defense equipment signed

MANILA — The Philippine International Trading Corp. (PITC) on August 31 signed a memorandum of agreement with the Department of Information and Communications Technology (DICT) for the procurement of a Wi-Fi infrastructure system in line with the initiative of the government to provide free Internet access across the country. The DICT outsourced the services of … Read More

Johns Hopkins prof: Infrastructure to attract more foreign investments

  MANILA — The Philippines needs to build structures to attract more foreign investments particularly from China, in potential sectors of energy, resources and small businesses. Alvin Camba, a professor at Baltimore-based Johns Hopkins University, underscored the country’s need to build infrastructures “quickly” given the traffic problem especially in Metro Manila. “A lot of economists … Read More

PHP, PSEi end week w/ flying colors

MANILA — Investors’ disappointment on recent slide of US’ initial jobless report fueled both the improvement of the Philippine peso and the main stocks gauge Friday. The local currency finished the week at 50.16 from Thursday’s 50.27, which a trader partly attributed to the slid of initial jobless claims in the US for the week … Read More

BSP chief weighs latest peso performance

MANILA – – Should Filipinos be worried about the current weakness of the peso against the US dollar? Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. has the answer. Espenilla says there was nothing to worry about the latest performance of the local currency. “It’s actually just reflecting market conditions and underlying fundamentals. … Read More

P285-B railway projects up for NEDA board nod

MANILA — Two railway projects worth PHP285 billion are lined up for approval by the National Economic and Development Authority (NEDA) board chaired by President Rodrigo Duterte. The NEDA identified these projects as the PHP134-billion Philippine National Railways (PNR) South Commuter Line (Tutuban-Los Banos) and the PHP151-billion PNR Long haul (Calamba-Bicol). The commuter line project … Read More