The Philippines and Japan are planning to sign early next year the second loan agreement for the country’s first subway system, the Department of Finance (DOF) said. During last week’s Philippines-Japan Joint Committee on Infrastructure Development and Economic Cooperation online meeting, the two sides committed to approve the next financing tranche for the first phase of the Metro Manila Subway by the first quarter of 2021, the DOF said in a statement on Saturday. The P356.9-billion, 25.3-kilometer subway belonging to the Duterte administr ...
Bank lending grew in June but was relatively flat from the previous month as high interest rates tempered demand for consumer and business loans.
About one in four German companies currently seeking new loans are reporting restraint from lenders as high inflation and concerns over energy supply rattle Europe's largest economy, according to a...
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A Chinese flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China Feb 8, 2024. REUTERS/Florence Lo/File photo
NEW YORK -Large US banks railed against new proposed capital requirements at a congressional hearing on Wednesday, joining Senate Republicans in casting the measures as crimping loans to everyday Americans. “This rule will make services so uneconomical, you will likely see two outcomes: many banks will simply stop offering certain products and services, and those that do will have to charge more for them just to make it worth the service,” said JPMorgan Chase Chief Executive Jamie Dimon. ...
Productivity depends on many factors, including our workforce’s knowledge and skills and the quantity and quality of the capital, technology and infrastructure that they have to work with, said American economist Janet Yellen. The Philippines suffers from unemployment and poverty because of poor infrastructure. In a report by academic Richard Javad Heydarian for Forbes Magazine, the Japan International Cooperation Agency (Jica) found that traffic congestion in Manila, caused mainly by poor infrastructure, led to losses of about P2.4 billion i ...
the New Terminal One, which is scheduled to welcome carriers in about two years. Currently... and New York at the existing Terminal 1.The New Terminal One is part of a $19-billion project...
New York, United States — The quest by Boeing’s new CEO to revive the aviation giant’s fortunes suffered a serious blow when striking machinists voted down the latest contract proposal, prolonging a nearly six-week stoppage. Almost two-thirds (64 percent) of the members of the International Association of Machinists and Aerospace Workers District 751 rejected the preliminary agreement late Wednesday, extending a walkout of some 33,000 Seattle-region employees. The strike has shuttered two major assembly plants, further dimming the company ...
MANILA, Philippines — Fresh foreign borrowings by the Philippine government during its first trip to the international bond market this year pushed the country’s dollar reserves up to a new two-year high in May, the Bangko Sentral ng Pilipinas (BSP) reported. Preliminary data from the BSP showed the country’s gross international reserves (GIR) rose by 1.8 percent month-on-month to $104.48 billion, the highest since April 2022. Similarly, the net international reserves—which refers to the difference between the GIR and liabilities like s ...