Gasoline and diesel prices are displayed at a gas station. The Philippine central bank lowered its average inflation forecast for 2023 to 5.5%, from the 6% it gave in March. — PHILIPPINE STAR /EDD GUMBAN THE BANGKO SENTRAL ng Pilipinas (BSP) paused its aggressive monetary policy tightening campaign, and signaled […]
El Niño may derail agri sector recovery
A farmer guides his carabao on dry and cracked farmland in San Juan town, Batangas, April 18, 2010. — REUTERS/ROMEO RANOCO By Luisa Maria Jacinta C. Jocson, Reporter EL NIÑO may weigh on Philippine economic growth this year, as the agriculture sector is vulnerable to severe dry spells brought by […]
Concerns raised over plan to revive state sugar company
A store employee arranges packs of sugar at a supermarket in Quezon City, Oct. 16, 2022. — PHILIPPINE STAR/MIGUEL DE GUZMAN THE MARCOS administration’s plan to revive the Philippine Sugar Corp. (PHILSUCOR) has raised concerns from stakeholders, who said this may duplicate other agencies’ existing programs for sugar farmers. President […]
DoE issues rules to expedite offshore wind energy projects
REUTERS THE DEPARTMENT of Energy (DoE) is adopting a whole-of-government approach to expedite the processing of permits and requirements for offshore wind (OSW) energy projects. The DoE issued the implementing rules and regulations (IRR) for Executive Order (EO) 21, which establishes the policy for OSW development. Energy Secretary Raphael P.M. […]
Ayala group, Singapore firm plan large data center
REUTERS By Justine Irish D. Tabile, Reporter THE Ayala group and the local unit of a Singapore-based service provider plan to build a 124-megawatt data center that they claim to be the largest in Metro Manila. In a launching event on Thursday, ST Telemedia Global Data Centres (Philippines) — a […]
Ortigas Land launches 52-storey residential tower
ORTIGAS Land Corp. on Thursday launched its 52-storey mid-market residential tower at the Ortigas Center called Olin at Jade Drive, which it aims to complete in the next six years. “This newest development is very exciting for us as this launches our venture into the mid-market segment within the Ortigas […]
Motorcycle sales up 16.7% in Q1 as demand rises
PHILIPPINE STAR/EDD GUMBAN PHILIPPINE motorcycle sales increased by 16.7% in the first three months of the year amid surging demand, said a sellers’ association, as it expects a 10% sales growth for 2023. Motorcycle Development Program Participants Association, Inc. (MDPPA) said in a statement on Thursday that the motorcycle sales […]
ACEN board clears P7.8-billion credit facilities
THE BOARD of directors of Ayala-led ACEN Corp. has approved the availing of credit facilities amounting to about P7.8 billion from two financial institutions. In a disclosure to the stock exchange on Thursday, the company said its board had approved the “execution and availment” of credit facilities with China Banking […]
Manila Water’s Calawis supply project to be completed in June
MANILA WATER Co., Inc. expects its P8.2-billion Calawis water supply system project to be completed next month. In a statement on Thursday, the east zone water concessionaire said the Calawis project will provide an additional 80 million liters per day of treated water to about 919,784 population in Antipolo City […]
At Cannes, independent film firms optimistic as streamers stumble
1 of 2 CANNES — Independent film companies facing a market upended by the entry of streaming services are showing some optimism heading into this year’s Cannes Film Festival as the Netflix era has begun flattening out and audiences start trickling back into cinemas post-pandemic. While buyers are being cautious […]