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China-funded Pasig River bridges break ground

MANILA - The two bridges across Pasig River that will be fully funded by China broke ground on Tuesday, with President Rodrigo Duterte and Chinese Ambassador Zhao Jianhua attending the event.  The 734-meter Binondo-Intramuros Bridge will connect the two historic Manila districts of Binondo and Intramuros, while the 506-meter Estrella-Pantaleon bridge will replace the existing bri...

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Inflationary cash under control despite bank reserve cuts, says BSP

The central bank’s moves to tighten monetary policy while reducing the amount of cash banks are required to hold in reserve — seemingly opposing policies implemented almost simultaneously in recent months — had a net result of draining liquidity from the local financial system, the country’s chief bank regulator said. In a speech delivered to bankers last Frida...

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Southern Leyte pushes for more sustainable development projects

MAASIN CITY – The provincial government here pushes for more sustainable development projects with its Tourism, Environment and Agriculture (TEA) Summit on Tuesday held in this city. The summit is an initiative of the office of the lone district representative of Southern Leyte in support of their Local Development Investment Program for 2018-2022, which was already endorsed by...

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PH may lose investment grade ratings, infra funds if LGUs get share from nat’l taxes

The Philippines stands to lose its investment-grade credit ratings and may have to stop construction of big-ticket infrastructure projects if the Supreme Court ruling that grants local government units (LGUs) a share from “all” national taxes gets implemented, Budget Secretary Benjamin E. Diokno said. As such, Diokno said they would ask the Office of the Solicitor General...

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