adplus-dvertising
Connect with us

Investment

Philippines Seeks Investment Boost From Europe, Trade Chief Says – BNN Bloomberg

Published

2 years ago

 on


(Bloomberg) — The Philippines is identifying companies, including those in Europe, as the nation seeks investment in export-oriented industries and renewable energy, according to Trade Secretary Alfredo Pascual.

“We just had the framework done now and we are identifying some specific companies to target,” Pascual said in an interview Oct. 28 in Brussels, where he attended the EU Sustainable Investment Summit. 

“It’s always best to deal with old friends, old investors,” he said, adding that the government is also eyeing companies already in the Philippines such as Siemens AG and Dyson Ltd for potential expansion. 

Foreign investment is key to President Ferdinand Marcos Jr.’s goal of creating more jobs and bringing a stubbornly high poverty rate down to single digits. A recent law that eased what was among the world’s most-restrictive foreign ownership laws is seen to help draw in funds to grow the economy. 

Read: Philippines to Fix Weak Spots in Path to $500 Billion Economy

The trade department has tagged growth areas such as electric vehicles, outsourcing and health care, Pascual said. It is also looking for investors in solar and wind energy, he said. 

In the coming months, the Philippines will tap foreign investors for a 1,300-megawatt solar project valued at $1.2 billion, Pascual said. The government is also planning to build wind mills in coastal areas, he said.

–With assistance from Ditas Lopez.

©2022 Bloomberg L.P.

Adblock test (Why?)

728x90x4

Source link

Related Topics:
Continue Reading

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

7 days ago

 on

October 16, 2024

By

 

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

2 weeks ago

 on

October 11, 2024

By

 

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

2 weeks ago

 on

October 10, 2024

By

 

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending