JOHN GUCCIONE-PEXELS THE PHILIPPINE central bank is considering further easing documentary requirements for foreign exchange (FX) transactions through changes to its FX manual. Under a draft circular posted on its website, processing of foreign currency loans, inward investments and other FX transactions filed with the Bangko Sentral ng Pilipinas-International Operations […]
2023 PHL ‘hot money’ swings to net outflow amid high key rates
TIMA MIROSHNICHENKO-PEXELS FOREIGN PORTFOLIO INVESTMENTS that left the Philippines outweighed those entering in 2023, as rising interest rates and elevated inflation dampened investor sentiment. Data from the Bangko Sentral ng Pilipinas (BSP) released on Thursday showed foreign portfolio investments registered with the central bank through authorized agent banks posted a […]
IFC to invest $15M in SEA clean energy fund
PEXELS-PIXABAY THE INTERNATIONAL Finance Corp. (IFC) is investing $15 million (P849 million) in a fund that targets clean energy investments in the Philippines, Indonesia and Vietnam, the World Bank Group member said in a statement on Jan. 23. The financing will support the Southeast Asia Clean Energy Fund II, which […]
P150-B Malaysian telco project gets BoI’s green lane approval
EDOTCOGROUP.COM THE PHILIPPINE Board of Investments (BoI) has endorsed Malaysia’s EDOTCO Towers, Inc.’s P150-billion telecommunication infrastructure project for green lane processing to fast-track the rollout of new technologies such as 5G mobile broadband networks. In a statement, the agency said EDOTCO plans to roll out 25,000 common telecommunication towers that […]
Too hot to party?
YVETTE DE WIT UNSPLASH MEXICO CITY — From hail the size of golf balls to deadly heat, concertgoers in 2023 were forced to deal with extreme weather events that put them in harm’s way during the world’s warmest year on record, with temperatures predicted to climb even higher in 2024. […]
CAMPI sees potential sale of 500,000 automotive units this year
FREEPIK By Revin Mikhael D. Ochave, Reporter THE Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) sees a robust year for the automotive sector, projecting the possibility of selling 500,000 units, its president said. CAMPI’s optimism is fueled by expectations of slower inflation and a more robust economic growth trajectory, Rommel […]
Nostalgia the focus of this year’s Japanese film festival
1 of 2 NOW ON its 27th year, the Japanese Film Festival (JFF) presents a selection of 14 full-length films from a variety of genres to “make audiences feel nostalgic for their own fond memories,” said its festival director. The annual film festival is organized by the Japan Foundation Manila […]
Filinvest Development says payment for 10-year retail bonds finished
GOTIANUN-LED conglomerate Filinvest Development Corp. (FDC) announced on Thursday the completion of payment for its 10-year fixed rate retail bonds issued in 2014. In a regulatory filing, FDC said that the bonds, with an aggregate amount of P8.8 billion, were issued on Jan. 24, 2014, and matured on Jan. 24 […]
Puregold CinePanalo Film Festival announces 31 entries
THIRTY-ONE directors have received film grants that will allow them to compete in the inaugural Puregold CinePanalo Film Festival, as announced at a Jan. 23 press conference at Artson Events Place, Quezon City. Ivy Hayagan-Piedad, Puregold’s senior manager for marketing, told the media that the festival is a platform to […]
Higher LPG sales propel Pryce’s profit to P2.22 billion
PRYCE Corp. saw a 31.6% increase in its 2023 net income to P2.22 billion from P1.69 billion a year earlier, driven by higher sales volume of liquefied petroleum gas (LPG), the listed company announced on Thursday. The company’s consolidated revenues grew by 2.6% to P19.26 billion from P18.77 billion in […]