Remittances hit $36.14B in 2022

MONEY sent home by overseas Filipinos reached an all-time high of US$36.14 billion. This level was 3.6 percent higher than the $34.88 billion remittance flows in 2021. “The robust inward remittances reflected the increasing demand for foreign workers amid the reopening of economies,” said the Bangko Sentral ng Pilipinas. The full-year 2022 level accounted for […]

Doubleview Achieves Initial 56% Scandium Recovery in First Metallurgical Test of Hat Deposit Flotation Tailings – Potentially the First Major Source of Scandium in N. America

Vancouver, BC, Feb 7, 2023 – (ACN Newswire via – Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (“Doubleview”) is pleased to announce that its first attempt at recovering scandium in a sequential purification process has recovered 56% (fifty six percent) of scandium in tailings from its Hat Copper, Gold, Cobalt property. Scandium […]

Loan growth slows in December

BANK lending in December grew 13.4 percent, slightly lower than 13.9 percent the previous month, initial data of the Bangko Sentral ng Pilipinas (BSP) showed. Month on month, credit retreated by 0.04 percent. Loans to businesses expanded by 12.1 percent in December from a 12.6 percent rise in November driven largely by the credit growth […]

PH hits 7.6% growth in 2022

AMID the global headwinds, the Philippine economy grew 7.6 percent in 2022, exceeding the government’s economic team target of 6.5 percent to 7.5 percent for the year. Fourth quarter growth stood at 7.2 percent. Among the major emerging economies in the region that have released their fourth-quarter 2022 real gross domestic product growth, the Philippines […]

100% WFH setup seen to boost office demand outside Metro Manila

THE government’s provision to allow up to 100 percent work-from-home (WFH) arrangement for information technology-business process management (IT-BPM) companies is likely to stoke office demand in key provinces. About 446 IT-BPM firms initially registered with the Philippine Economic Zone Authority have applied to shift registration to the Board of Investments (BOI). These companies account for […]

PSE targets 14 IPOs for 2023

THE Philippine Stock Exchange (PSE) is targeting 14 initial public offerings (IPOs) for the year, expressing its optimism for the year of the Water Rabbit. The potential listing applicants include 11 companies and real estate investment trust that will list on the main board and the remaining three are firms that are expected to debut […]

Qs7: What happens after Cebu City Council’s approval of Mayor Mike Rama’s increase of real estate taxes. Business taxes spared for now but will come next. Kons Noel Wenceslao, budget and finance head, defends move anew, conceding it’s ‘unpopular but necessary.’

BEFORE the year ended on December 30, 2022, the Cebu City Sanggunian approved an increase of real estate taxes, which Mayor Michael Rama’s administration plans to fund much of its P50 billion budget for 2023. Councilor Mary Ann de los Santos had pleaded for people who own small parcels of land and are barely surviving […]

BSP: Bank lending grows 13.7% in November

OUTSTANDING loans of universal and commercial banks, net of reverse repurchase placements with the Bangko Sentral ng Pilipinas (BSP), rose 13.7 percent in November from 13.9 percent in October last year. The central bank on Wednesday disclosed that on a month-on-month, seasonally-adjusted basis, outstanding universal and commercial bank loans rose 0.3 percent. “Sustained growth in […]