Month: January 2017

How fast is the economy expected to grow this year?

Finance Secretary Carlos G. Dominguez III said the economy could expand by another 6.5-7 percent in 2017 on the back of a healthy foreign exchange buffer, a strong banking system as well as a young and educated workforce. Last year, the economy grew by 6.8 percent,...

Manila’s Biggest Casino Complex Readies Formal Opening in February

After several months of delay, Okada Manila is set to formally open its doors next month to make the $2-billion development the biggest integrated casino resort in the country. In an interview with the Inquirer, Philippine Amusement and Gaming Corp. chair Andrea...

House accepts DOF’s revised tax-reform bill

With the politically sensitive provisions gone, the House Ways and Means Committee has decided to adopt the Department of Finance’s (DOF) revised bill lowering personal income tax (PIT) and the accompanying offsetting measures. House Bill (HB) 4774, titled the Tax...

Megaworld boosts hotel portfolio

Tycoon Andrew Tan-led property developer Megaworld Corp. will expand its hotel portfolio this year with the opening of four new hotels around the country, adding a total of 1,662 rooms in Iloilo, Boracay and Metro Manila. The new hotel rooms to be opened this year...

Okada unit seeks slice of Philippine gaming boom

Japanese billionaire Kazuo Okada—who has made his biggest business bet on the Philippines through a $2.4-billion casino resort complex—faces an enormous challenge in attracting both wealthy Chinese highrollers and local residents who are benefiting from the country’s...