Philippines Morning News For July 31

Philippines Morning News For July 31

Remittances, BPO revenues seen to shield peso The Bank of Tokyo – Mitsubishi UFJ Ltd. (BTMU) said steady remittances and revenues from the business process outsourcing (BPO) sector would continue to stabilize the peso amid the volatile global financial markets. — The Philippine Star Infrastructure spending exceeded budget in 1st half Public spending on infrastructure […]

Indonesia Morning News For July 28

Indonesia Morning News For July 28

Indonesia’s deficit widens in 2017 budget revision Indonesia’s House of Representatives on Thursday endorsed a revision to this year’s government budget — which sees a lower revenue, increased spending and a widening deficit nearing the constitutional limit. — Nikkei Asian Review Expedia to Invest $350 Million in Indonesia Booking Site Traveloka Expedia’s minority investment in […]

Philippines Morning News For July 28

Philippines Morning News For July 28

Hot money net outflow hits $457M yr-to-date FOREIGN portfolio investments in the Philippines so far this year registered a net outflow of $457.83 million as of mid-July, reversing a net inflow of $773.77 million posted in the same period a year earlier, Bangko Sentral ng Pilipinas (BSP) data released on Thursday showed. — The Manila […]

Indonesia Morning News For July 27

Indonesia Morning News For July 27

Government to revoke Freeport license over failure to build smelter Indonesias Energy and Mineral Resources Ministry would revoke the concentrate export license for PT Freeport Indonesia, if the giant mining company failed to finish the construction of the mineral smelter facility within five years. — Antara News Indonesian parliament passes law to chase tax evaders […]

Philippines Morning News For July 27

Philippines Morning News For July 27

Philippines to remain fastest growing economy in region: Fitch The Philippines will likely remain the fastest growing economy in Southeast Asia for the next five years, Fitch Ratings said in its report “Asia Pacific Sovereign Overview 3Q17” released on July 25. — ABS-CBN Duterte renews his anti-West, pro-China views Philippine President Rodrigo Duterte delivered his […]

Thai Startup Siam Organic Takes Home The Chivas Venture 2017 Crown

Thailand startup venture Siam Organic Co, Ltd., (Siam Organic) has taken home the star prize from the third prestigious Chivas Venture 2017 startup business model contest held in Los Angeles, USA, last week, and along with it US$400,000 (about Bt13.392 million) in prize money. The company fought off challenges by entries from 30 competitors to […]

Indonesia Morning News For July 26

Indonesia Morning News For July 26

World Bank: Indonesia needs $500 bln in 5 yrs to plug infrastructure gap World Bank Group President Jim Yong Kim said on Tuesday that Indonesia needs to nearly double its public spending on infrastructure and bring in more private investment to fill an infrastructure gap of $500 billion in the next five years. — Reuters […]

Philippines Morning News For July 26

Philippines Morning News For July 26

Philippines buys 250,000 tons of rice to boost stockpiles THE NATIONAL FOOD AUTHORITY (NFA) purchased 250,000 metric tons (MT) of rice in a tender yesterday from suppliers in Vietnam, Thailand and Singapore, as it rushed to boost thinning state stockpiles. — BusinessWorld Online PH gov’t told to pay Maynilad over P3B for delayed tariff hike […]

Indonesia Morning News For July 25

Indonesia Morning News For July 25

Alibaba in talks to pick up stake in Indonesia’s e-commerce major PT Tokopedia China’s e-commerce giant Alibaba Group Holding Ltd is in talks to make a significant investment in one of Indonesia’s largest online retailers, PT Tokopedia, according to three people aware of the development. — Deal Street Asia Mitsubishi Set to Manufacture 80,000 New […]

Philippines Morning News For July 25

Philippines Morning News For July 25

MPIC mulls P20-B Cavitex-Port Area expressway The tollway arm of Metro Pacific Investments Corp. (MPIC) is planning to propose a P20-billion expressway project to connect the Manila-Cavite Toll Expressway (Cavitex) to the Port Area. — The Philippine Star DOT: Revenues hit P220 B in first year Tourism revenue rose to P220.30 billion during the first […]

Indonesia Morning News For July 24

Indonesia Morning News For July 24

Finance Ministry advised to reconsider plan to adjust untaxed income The Indonesian Finance Ministry should reconsider its plan to adjust the limit of non-taxable income as the proposed threshold is too high, an observer said. — Antara News Indonesian cattle cruelty exhibited at class action trial DAY three of the Indonesian live cattle ban class […]

Philippines Morning News For July 24

Philippines Morning News For July 24

CTA junks P292-M tax demand vs energy firm THE COURT of Tax Appeals (CTA) has ordered the cancellation and withdrawal of the Bureau of Internal Revenue’s (BIR) P292-million tax assessment against energy and power firm Conal Holdings Corporation over the lack of legal and factual bases. — BusinessWorld Online PAL sets aside $2 B for […]

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