Mining firms see a trove of gold at Philippine site | Jan 27th, 2012 Indophil Resources NL of Australia announced that the $5.9 billion Tampakan copper-gold project in Mindanao contains more mineral resources than previously thought, citing a report from Xstrata Copper, the majority shareholder and project manager. The Australian mining firm holds a 37.5-percent interest....

DTI: Philippine BPO industry to flourish despite U.S. bill | Jan 27th, 2012 The Philippine Department of Trade and Industry (DTI) is confident that the recent declaration of U.S. President Barack Obama to withdraw support from “businesses that ship jobs overseas” will hardly affect the business process outsourcing (BPO) industry. It also doubts that the American congress will...

Analyst: Philippine credit rating due for upgrade | Jan 27th, 2012 Robert Rountree, a Singapore-based global market strategist for Prudential Asset Management, believes that the Philippine credit rating should be upgraded because it is lower than what the current strong and solid fundamentals require. He added that the domestic market has been performing well and that the...

PAGCOR project attracts Japanese investments | Jan 26th, 2012 Tiger Resorts, Leisure and Entertainment Inc. will invest approximately $2 billion to build Manila Bay Resorts, on a 45-hectare site within the Bagong Nayong Pilipino Entertainment Complex along Manila Bay. It will feature two luxury casino hotels with 450 and 650 rooms each and an indoor man-made beach...

Central bank allows Philippine government to raise funds locally | Jan 23rd, 2012 The Bangko Sentral ng Pilipinas (BSP) has green-lighted the national government to raise up to 500 billion pesos worth of debt from the domestic market to take advantage of low interest rates and the strong liquidity in the financial system. It pointed out that it would be practical for the government and...

Philippines on track for global growth | Jan 23rd, 2012 Investment bank Goldman Sachs says the Philippines can become one of the top 10 countries that will contribute to global growth within the decade. It added that the country is among the N-11 [Next 11] economies that are likely to advance to the stage of “growth countries,” or nations that account for at...

Philippines seen to surge into the top 20 economies | Jan 23rd, 2012 In a recent report, international bank HSBC forecasts the Philippines to become the 16th largest economy in the world by 2050. It cited demographics, rising education standards, current income per capita, rule of law, and democracy as primary factors that will propel the quantum leap. The bank expects the...

Special visa grants foreigners indefinite stay in the Philippines | Jan 23rd, 2012 The Philippine Bureau of Immigration (BI) announced that foreigners with businesses in the country that employ at least ten Filipino workers can avail of a special visa for employment generation (SVEG) enabling them to stay indefinitely. Holders of the SVEG will also enjoy multiple entry privileges,...

COMELEC defers online voting | Jan 23rd, 2012 The Philippine Commission on Elections (COMELEC) described its plan to use online voting for the 2013 midterm elections as not feasible. Under the Overseas Absentee Voting law, only mailed ballots received by the Philippine embassies, consulates and other Foreign Service establishments shall be counted. The...