FREEPIK CASH REMITTANCES sent by overseas Filipino workers (OFWs) jumped by 3.7% year on year in April, as they continued to support their families amid elevated inflation. Data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances sent through banks stood at $2.48 billion in April, higher than $2.4 […]
No need for BSP to move in tandem with the Fed
BW FILE PHOTO By Keisha B. Ta-asan, Reporter THE BANGKO Sentral ng Pilipinas (BSP) sees the policy moves of the US Federal Reserve carrying less weight in its own decision making as addressing still-elevated domestic inflation is more important, an official said on Thursday. The actions of the US central […]
Tourism’s contribution to GDP climbs to 6.2% in 2022
PHILIPPINE STAR/MIGUEL DE GUZMAN THE TOURISM INDUSTRY’S contribution to Philippine economic output rose in 2022, driven by the continued easing of travel restrictions, data released on Thursday showed. Tourism’s direct gross value added (TDGVA) accounted for 6.2% of gross domestic product (GDP) in 2022, higher than the 5.2% share in […]
Fed keeps rates steady, sees two more small hikes
FEDERALRESERVE.GOV WASHINGTON — The US Federal Reserve left interest rates unchanged on Wednesday but signaled in new projections that borrowing costs may still need to rise by as much as half of a percentage point by the end of this year, as the US central bank reacted to a stronger-than-expected […]
Gov’t looking to sustain growth trajectory
PHILIPPINE STAR/EDD GUMBAN THE Philippine economy can reach first world levels of income and development by 2040 if it grows faster than 6.5% annually, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said. “(We are) building human capital, building infrastructure, reforming our institutions so that we can grow […]
Vivant unit earmarks P21B to develop renewables
CEBU-BASED Vivant Corp. said its subsidiary Vivant Energy Corp. is setting aside about P21 billion to increase its renewable energy (RE) generation by 2030. “Vivant Energy is committed to play a meaningful role in energy transformation and to accelerate growth and improvement of power services in the country,” Emil Andre […]
ACEN subscribes to solar energy developer’s shares for P2 billion
MICHAEL WILSON-UNSPLASH ACEN Corp. has signed an agreement to subscribe to additional shares in Sinocalan Solar Power Corp. (SSPC) for nearly P2 billion, the Ayala-led energy company said on Thursday. In a stock exchange disclosure, ACEN said it agreed to subscribe to 199.98 million of SSPC’s redeemable preferred shares priced […]
Seeing Red, talking art
RED –JAYPEE MARISTAZA THEATERRedThe Necessary TheatreStarring Bart Guingona,JC SantosJune 16-18Fri., 8 p.m.; Sat. & Sun., 3:30 and 8 p.m.PETA Theater Center, Eynmard Dr., New Manila, Quezon City JOHN LOGAN’S straight play Red does a better job of introducing painter Mark Rothko, Abstract Expressionism, and the angst of artists than Clement […]
The Flash dashes to theaters, starting the DC universe reboot
EZRA MILLER in The Flash (2023) LOS ANGELES — The Flash debuts in movie theaters on Friday after a series of delays and personal setbacks by star Ezra Miller, a key part of Warner Bros.’ battle for the summer box office that also starts the reboot of the DC Extended […]
TikTok says creators earn more than minimum wage
MYRIAMMIRA-FREEPIK By Justine Irish D. Tabile, Reporter FILIPINO creators who use the short video application TikTok as a source of income earn more than the minimum wage, a regional study said. In TikTok’s Southeast Asia Socio-Economic Report 2023, around 40% of polled creators in the Philippines reported having been earning […]