THE Philippine economy grew by 5.6% in 2023, falling short of the government’s full-year target as state spending and exports declined and high interest rates dampened consumption. Read the full story. RGEntRibirthFURD
GDP grows 5.6%, falls short of target
People flock to Divisoria ahead of the holiday season, Dec. 21, 2023. — Photo by Walter Bollozos, The Philippine Star By Luisa Maria Jacinta C. Jocson, Reporter THE Philippine economy grew by 5.6% in 2023, falling short of the government’s full-year target as state spending and exports declined and high […]
Central bank sees 2.8-3.6% inflation in January
Fuel retailers implemented another round of pump price hikes on Tuesday. — Photo by EDD GUMBAN/PHOTO By Keisha B. Ta-asan, Reporter HEADLINE INFLATION may have settled within 2.8-3.6% in January due to lower vegetable and sugar prices, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday. The BSP’s month-ahead forecast […]
2023 debt-to-GDP ratio ends at 60.2%
BW FILE PHOTO THE National Government’s (NG) outstanding debt as a share of gross domestic product (GDP) further eased to 60.2% at the end of 2023, the Bureau of the Treasury (BTr) said. Treasury data showed that the NG’s outstanding debt hit a record P14.62 trillion as of end-2023, 8.92% […]
Asian economies ‘on track’ to fuel global growth — IMF
A view shows the Light Rail Transit (LRT) train in Jakarta, Indonesia, Aug. 23, 2023. — REUTERS/Willy Kurniawan ECONOMIES in the Asia region are expected to continue contributing significantly to global growth, as Asian central banks loosen monetary policy later this year amid easing inflation, the International Monetary Fund (IMF) […]
Aboitiz group, partner get PCC nod for $1.8-B Coca-Cola PHL acquisition
THE ABOITIZ group and its partner Coca-Cola Europacific Partners plc (CCEP) have received approval from the Philippine Competition Commission (PCC) to jointly acquire soft drinks giant Coca-Cola Beverages Philippines, Inc. for $1.8 billion, the group’s holding company Aboitiz Equity Ventures, Inc. (AEV) said on Wednesday. The PCC approved the transaction […]
Rockwell Land eyes P5-billion loan for capex
ROCKWELL Land Corp.’s board has greenlit a P5-billion term loan facility as part of a plan to finance the company’s capital expenditures (capex), the Lopez-led company said on Wednesday. In a regulatory filing, the property developer said that the loan facility, with a term of up to seven years, is […]
Globe, British Embassy tie up to boost cyber defenses
GLOBE TELECOM, Inc. announced on Wednesday a partnership with the British Embassy in Manila to strengthen digital infrastructure defenses in response to growing cybersecurity concerns. “Cybersecurity must be a top priority for both the United Kingdom and the Philippines in order to ensure the safety and security of our citizens […]
Philippines’ energy security in the hands of innovation, people
The new 33-MVA digital substation operated by AboitizPower distribution utility Davao Light in Binugao, Toril addresses growing electricity demand in the southern part of Davao City. Successfully navigating adversities and opportunities in the power sector in 2024 and beyond is largely hinged on the quality of the people tasked to […]
It takes two to tango in Samira
1 of 3 IN THE hands of Josh Boutwood (the man behind Helm, The Test Kitchen, Savage, and Ember) and Chele Gonzalez (his Gallery by Chele is a consistent placer in Asia’s 50 Best Restaurants list), a Wednesday dinner turned out to be a night to remember. The collaboration between […]