Remittances grow to $1.32b

By Eileen A. Mencias Remittances from migrant Filipino workers grew 4.9 percent in February to $1.32 billion year-on-year, as job layoffs slowed down and deployment increased, the Bangko Sentral said yesterday.

LandBank lends P1b to Ayala Land

By Jenniffer B. Austria
High-end property developer Ayala Land Inc. has obtained P1-billion financing from Land Bank of the Philippines to partially fund its capital expenditure program this year.

ICTSI signs $40-m Metrobank loan, bares 37% rise in revenues

International Container Terminal Services Inc. yesterday signed a five-year loan facility worth $40 million with Metropolitan Bank and Trust Co.

BPO firms also eyeing flexible job rules

By Elaine Ramos Alanguilan
The Joint Foreign Chambers has urged the government to also allow non-distressed companies, like business process outsourcing firms, to adopt flexible job arrangements to make them more competitive amid the global economic slump.

World Bank lends $40m for rural electrification

By Lawrence Agcaoili
The World Bank has extended $40 million in additional loans to the Philippines to bankroll its rural electrification project in isolated and poorest areas in the country, especially in Mindanao.

Legal ruling virtually kills RP jai alai game

The chances of reviving the popular jai alai, or Basque pelota, game in the Philippines are now virtually nil. An opinion rendered by the Office of the Government Corporate Counsel on March 31, 2009 squarely addressed the legality of operating the jai alai game in the country—a company or a person needs a legislative franchise to do it.