Displaying all posts for Business

The gunmakers of the Philippines

By Kate McGeown/BBC News – A shot rings out from a factory on the outskirts of the Philippines’ second-biggest city, Cebu. But this isn’t an all-too-frequent drive-by killing or an argument that has become violent. The sound is from a testing range at Shooters Arms, the country’s second-largest gun factory. Read more »

DOTC gets P1.89 B for NAIA 3

By Zinnia B. Dela Peña – The Department of Budget and Management has turned over P1.89 billion to the Department of Transportation and Communications to complete and refurbish the Ninoy Aquino International Airport terminal 3 (NAIA 3). The government earlier forged a $45-million deal with Japanese contractor Takenaka Corp. Read more »

Rich Pinoy, Poor Pinoy: Poverty amid a booming economy

BY SIEGFRID O. ALEGADO, GMA NEWS – Metro Manila these days is marked by crane-topped cities rising as the property market booms albeit alongside slums – poverty-stricken households whose hungry members marvel at multimillion-peso-per unit high rises amid a much-vaunted strong economy and fiscal position. Rosy prospects for Read more »

Recto quits as Senate panel chief over ‘sin’ tax bill version

By Butch Fernandez/businessmirror.com.ph – Sen. Ralph Recto, hurt by a Malacañang official’s allegation that lobby money fueled his recommendation on the “sin” tax bill, on Monday submitted his “irrevocable” resignation as chairman of the Committee on Ways and Means which endorsed adjustments on alcohol and tobacco excise taxes much Read more »

The Philippines Richest 2012

By Suzy Nam,forbes.com – Despite European woes, the Philippines’ remittance-driven economy outperformed most of its neighbors; it grew 6.4% in the last quarter, driven by an ongoing consumer boom and a surge in tourism and outsourcing. The stock ­market index gained 17% in the past year. The 40 Read more »

‘Philippines’ minimum wage already one of highest in Asia’

By Alvin Elchico, ABS-CBN News – The Philippines has the highest wages for workers among third world countries in Asia, according to the Employers Confederation of the Philippines (ECOP).