With a fresh P6.3-billion fresh funding from the Asian Development Bank (ADB), Metropolitan Waterworks and Sewerage System (MWSS) said it is now on track with the construction of Bigte-Novaliches Aqueduct 7 (BNAQ 7), a water transmission pipeline in Angat Dam.
The Philippines’ bond market expanded in the first three-months owing to unprecedented government borrowings for coronavirus response as well as investors’ rosy economic prospects before the quarantine period, the Asian Development Bank (ADB) monitoring showed.
By shelving the mooted applications of state-run Power Sector Assets and Liabilities Management Corporation (PSALM), the Energy Regulatory Commission (ERC) has ordered the stoppage of collections of universal charges (UCs) amounting to P0.2536 per kilowatt hour (kWh) that are being passed on as separate line items in the consumers’ electric bills.
Loans filed by micro, small and medium enterprises (MSMEs) at the SB Corp., the micro financing arm of the government, has reached P2 billion, double the agency’s P1 billion fund allocation for lending to this sector affected by the COVID-19 crisis.
San Miguel Food and Beverage, Inc. (SMFB) the food and beverage arm of San Miguel Corporation (SMC), is confident of weathering the economic crisis brought about by the COVID-19 pandemic.
Net hot money outflows amounted to $1 billion in May, higher than the previous month’s $660 million, the Bangko Sentral ng Pilipinas (BSP) said.
Go Negosyo Founder and Presidential Adviser for Entrepreneurship Joey Concepcion announced that its mentorship program, Go Negosyo Mentor ME Online (MMO), is giving away a total of P500,000 to 20 lucky MSME winners (viewers) with P25,000 each as pandagdag-puhunan via online raffle scheduled tomorrow, June 26.
The Bangko Sentral ng Pilipinas (BSP) has slashed key rates by another 50 basis points (bps) yesterday, reducing the overnight reverse repurchase (RRP) facility to 2.25 percent, the lowest RRP rate so far.
The Duterte administration’s prudent fiscal strategy has allowed the Philippines to maintain its high creditworthiness that enabled it to access funds at the least possible cost for its coronavirus response, the Department of FInance (DOF) said yesterday.
SM Investments Corporation (SMIC) is adapting to changes brought about by the COVID-19 pandemic and expects its banking, retail and property businesses to come out from this crisis stronger.
Trade ministers of the 10-member states of ASEAN and Free Trade Agreement (FTA) Partners (Australia, China, Japan, Korea, and New Zealand) reaffirmed the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement before end of 2020.
Ginebra San Miguel Inc. (GSMI), the hard liquor unit of San Miguel Corporation (SMC), posted 59 percent jump in net income to a record P1.67 billion in 2019.
Rapid government responses to the COVID-19 have helped temper the world trade contraction in the first quarter this year resulting in in a tamer drop in global trade to around 18.5 percent in 2020 from the worst-case scenario 32 percent decline projected earlier this year, the multilateral trade body World Trade Organization (WTO) reported.
Trade and Industry Secretary Ramon M. Lopez yesterday announced they are pursuing a total of 159 investment leads to choose the Philippines as complementary host country for manufacturing operations even as he revealed of a rebound in new project approvals.
A US court has upheld a verdict that talcum powder sold by Johnson & Johnson caused ovarian cancer and ordered the pharmaceutical giant to pay $2.1 billion in damages.
The Philippine Stock Exchange, Inc. (PSE) has closed its headquarters, including its trading floor, in Bonifacio Global City for 24 hours after one of its employees tested positive for COVID-19.
Manila, Philippines — P.J. Lhuillier Inc. (PJLI), the parent company of the Philippines’ largest microfinancial services provider Cebuana Lhuillier, tapped leading software solutions provider Multisys Technologies Corporation to accelerate the group’s ongoing digital transformation efforts and expand its commercial services.
D&L Industries, the country’s largest specialty foods ingredients, plastics and oleochemicals firm, reported that it has started to see some recovery in the local market amid easing restrictions while its exports remained resilient.
The Philippines’ budget deficit soared last month as tax revenues fall while the government continues to spend on its coronavirus response, data from the Bureau of the Treasury showed yesterday.
With a global recession, the central bank and the inter-agency Financial Stability Coordination Council (FSCC) remains confident that the local financial market is strong despite that the health crisis has stalled economic activity and will derail growth this year.