MANILA, Philippines — Foreign direct investments in the Philippines plunged 56.3 percent from a year earlier to $1.1 billion in the eight months to August amid the global financial crisis, the central bank said Monday.

For… Read the rest

Foreign businessmen are supporting the Charter change (Cha-cha) but only with regards to amendments in the economic provisions.

The government should reconsider its position on banning foreigners from owning land in the country… Read the rest

Philippine mutual funds have been pummeled by the global financial crisis, with those of Philam Asset Management Inc. and the Government Service Insurance System (GSIS) among the hardest hit, according to an industry report.… Read the rest

FILIPINO businesses are seeking greater state intervention in the economy as the global meltdown threatened to claim a growing number of domestic industries.

In its draft 34th Philippine Business Conference Resolutions,… Read the rest

In last week’s forum in Manila of the National Competitiveness Council, Trade Secretary Peter Favila was reported to have told industry leaders and local government executives that restrictive economic provisions of the Constitution must… Read the rest

MANILA, Philippines — The Philippines’ business process outsourcing industry remains safe from the effects of the recent financial debacle in the United States, according to executives from private and government agencies.

The Business Process Association of… Read the rest

President Arroyo has vowed to prevent a wage spiral after a major export sector, the semi-conductor and electronics industry, warned of a flat growth for the rest of the year.

Speaking at the chief… Read the rest

The government through the Commission on Audit (COA) should not examine the books of private companies like the oil firms because it will set a bad precedent and might even discourage potential foreign… Read the rest

Japan has extended a ¥24.8 billion (approximately P10.2 billion) official development assistance (ODA) loan to the Philippines to fund its Environment Development Program with the Development Bank of the Philippines (DBP) as the conduit… Read the rest

The Bangko Sentral ng Pilipinas (BSP) expects a dramatic drop in portfolio investment or “hot money” flow into the local equities market this year as a result of the US financial meltdown.

The BSP said… Read the rest