Philippines orders 240 Japanese train cars for first Manila subway for $556 million USD

 Sumitomo and JR East's $556m contract follows 2019 commuter rail dealPhilippines orders 240 Japanese train cars for first Manila subwayJapanese trading house Sumitomo Corp. and an East Japan Railway unit announced Monday that they won a 57.5 billion yen ($556 million) order for train cars that will serve...

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₱778 Billion Railway 95 KM Connecting Connecting Manila to Clark will open on 2022

 Philippines awards final two contracts for Malolos – Clark linePHILIPPINE National Railways (PNR) and the Philippines Department of Transportation (DOTr) have awarded the two remaining construction contracts for the 53km Malolos – Clark section of its North-South Commuter Railway (NSCR) project.The contracts, designated packages 2 and 3, cover...

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European Investor to Pour €4 Billion Euros to Revive National Steel Corporation in Iligan City

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Iligan City — A new, state-of-the-art fully integrated steel mill is poised to rise again in this once touted as the industrial city of the south. Iligan City Mayor Celso Regencia has acknowledged last week the intent of a foreign-funded consortium in the amount of 4B euros for...

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The Philippines Per Capita GDP Has Reached An All-Time High Under Duterte

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Erik De Castro | Reuters Philippine President Rodrigo Duterte The average Filipino is doing better under Duterte. When it comes to Per Capita Gross Domestic Product (GDP), that is. That’s a measure of the total output of a country divided by the number of people in that country....

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Bloomberg: Philippines' Inflation Negative; Weak Peso Benefits Economy

Source: Bloomberg Business Week  Negative Rate Signals Philippines Still Behind the Curve The second rate increase  in two months isn’t going to help the beleaguered peso The Philippines stands out as the only country with a negative inflation-adjusted benchmark rate among Asian peers that have raised borrowing costs...

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Vietnamese Ship Runs Aground in Philippines, Damages Artificial Reefs

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Sarangani Bay. Photo: Wikipedia A Vietnamese cargo ship has run aground off Sarangani Bay in Mindanao the southern Philippines, damaging more than 200 artificial reefs that were built more than 10 years ago by environmental conservationists, authorities said Wednesday. The ship, the HTK Energy, was carrying a cargo...

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Business World: $24-billion stock wipeout attracts top fund to the Philippines

THE PHILIPPINE Stock Exchange index has slumped around 18% from February to May. — PHILSTAR/KRIZ JOHN ROSALES AFTER losing $24 billion in value from its January peak, Philippine stocks are ready for a comeback. That’s according to Alan Richardson, an investment manager at Samsung Asset Management Co., whose...

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FINALLY: LTFRB asks UBER to pay discounted ₱190 Million to lift the remaining 2 weeks Suspension

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Drivers and operators of UBER System Inc., gather and meet outside its main office in Mandaluyong City, August 15 2017, a day after the Land Transportation and Franchising and Regulatory Board suspended its accreditation and operation. Photo: Manila Bulletin  The LTFRB late Friday night (25th August 2017) announced...

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UBER Asked to pay LTFRB ₱6 Billion to avoid 1-month suspension: Too much

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Uber Philippines asked to pay ₱6 Billion to avoid 1-month suspension. Photo: Tech Wire Asia A transport group leader on Wednesday claimed that Transport Network Company (TNC) Uber Systems Inc. should pay a fine of P6 billion—and not ₱10 million as ordered by the government—in place of its...

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First Batch of Qatari & Saudi investors Arrive the Philippines for Palawan, Visayas and Mindanao Million Dollar Projects

MOUs worth amounting to US$ 206 million were signed this afternoon between Qatari local companies and the Philippines Economic Zones Authority (PEZA) Photo: Asian Telegraph Qatai 1st batch of investors from Qatar, Mideast visit Philippines The first batch of investors from Qatar and the Middle East has visited...

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Philippines Rejects EU $278 Million USD Remote Control Fund Loan Grant

Philippines rejected EUROPEAN UNION $278 Million USD Remote Control Fund Loan Grant for 2017 Philippines Rejects European grants The Philippines will no longer accept grants from the European Union, the EU delegation to Manila said Thursday, following repeated tirades from President Rodrigo Duterte over its criticism of his...

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DuterteNomics Unveiled First Subway in The Philippines, Completion of 4 railways in 2022 New Airports, Seaports, Railways, Roads & Bridges

Slide presented at the "Dutertenomics" forum on Tuesday, April 18, 2017 where President Rodrigo Duterte's top officials introduced planned construction projects. DOTr/Released DuterteNomics blueprint unveiled the build, build, and build for the “golden age of infrastructure,” in the Philippines. ₱227 Billion - First Subway in the Philippines for...

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China, Japan, Korea, Russia compete for $2 Billion Nuclear Plant, LNG Philippines Gas project

Russia Floating Nuclear Power Plant Technology. illustration: popsci.com China, Japan compete for $2bn Philippine gas project China and Japan are competing for a $2-billion liquefied natural gas (LNG) project in the Philippines, Energy Secretary Alfonso Cusi told the Nikkei Asian Review. Over 20 companies from eight countries have proposed...

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Philippines to Build First Operational 100 Megawatt Nuclear Power Plant in Sulu this Year

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Modern Nuclear Power Plant Diagram Department of Energy considering Sulu as site for nuclear plant this year Sulu Archipelago in western Mindanao is non-typhoon and non-earthquake prone areas with almost Zero fault line an is among the areas being eyed for a modular nuclear power plant as the...

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Smartphone boom driving jump in digital payments in the Philippines

A motorist pays toll at the North Luzon Expressway with a PayMaya-issued card. PayMaya offers a smartphone app that allows users to create a "virtual" credit card, without needing a bank account.PHOTO: PAYMAYA In the Philippines, cash is still king. Just one in 10 Filipinos transact online via...

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Wilcon to raise ₱7 Billion Php in Philippines’ 1st IPO this year

Wilcon Depot San Pablo. Photo: Inquirer WILCON Depot, Inc. is raising ₱7 billion in the first initial public offering (IPO) this year after pricing the deal at the low end of its target range. In a statement released on Friday, First Metro Investment Corp. (FMIC) Executive Vice-President Justino...

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Solar Philippines Breakground $150 Million USD Solar Farm in Tarlac

At the ceremonial groundbreaking of the 150-MW Tarlac solar farm, with the first ‘Made in the Philippines’ panels by Solar Philippines are (from left): Energy Secretary Alfonso Cusi, Solar Philippines president Leandro Leviste, Tarlac Governor Susan Yap and Concepcion Mayor Andy Lacson Photo: PhilSTAR Solar pioneer starts 150-MW...

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ASIA: China's Yuan Top, 2nd: Philippine Peso - Real effective exchange rate S&P Rating

China's Yuan and Philippine Peso - leading currencies in the Asia Pacific China’s yuan strongest real effective exchange rate, PHL peso second The Chinese currency rose as the strongest in terms of real effective exchange rates among nine Asia-Pacific countries, followed by the Philippines peso, Standard & Poor’s...

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Seven Japanese trading houses investing $3.9b in Philippines

Sumitomo Farming Technology Seven major Japanese trading houses are looking at investing up to $3.9 billion (₱198.5 billion) in different industries in the Philippines. After his recent trip to Tokyo, Department of Trade and Industry (DTI) secretary Ramon Lopez disclosed on Monday (March 13) that the Japanese companies...

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Philippines to Attract Billion Dollars FDI with Halal Industry Road Map

Halal food processing to help attract investments from Qatar to Philippines Developing the halal market, including the agro-industrial and food processing sectors, could further stimulate FDI inflow into the Philippines, particularly Qatari investments, a Qatari entrepreneur has said. The Philippine government wants to tap opportunities in the halal...

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