Business

Philippines ready to act on adverse effects of strong peso

MANILA — Mitigating measures to help exporters and families of Overseas Filipino Workers (OFWs) cope with the adverse effects of the strong peso are now in place, according to Malacanang.

Executive Secretary Eduardo Ermita said in his weekly press briefing this afternoon that while the government and the Bangko Sentral ng Pilipinas (BSP) will not interfere and let the market determine the exchange rate, it is ready to act to prevent changes that are too fast.
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PAL exec sees better business prospects for Davao

DAVAO CITY — This city will continue to be a haven for new investments especially in the field of tourism-related business ventures.

Lawyer Domingo Duerme, Senior Assistant Vice-President for Mindanao Sales of the Philippine Air Lines (PAL), express this optimism Wednesday morning at the launching of the PAL photo exhibit at SM Mall highlighting the Asian first airliner’s “rich historical legacy of PAL to the Filipino nation.”

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Tourism helps Philippines peso grow stronger

DAVAO CITY — The rise in international visitor arrivals has been supporting the peso appreciation this year, which is expected to continue given the growing interest in Philippine destinations.

Jose Clemente III, president of the Philippine Travel Agencies Association, said economists had overlooked that international tourism revenues helped the peso gain value against the US dollar.
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