JC GELLIDON-UNSPLASH By Keisha B. Ta-asan, Reporter THE PHILIPPINE central bank is likely to cut borrowing costs by 25 basis points (bps) in June even if inflation stays above 4% next quarter, Standard Chartered Bank (StanChart) economists said. Inflation might pick up in the second quarter to more than 4% […]
January BoP swings to deficit
PEXELS-PIXABAY By Keisha B. Ta-asan, Reporter THE COUNTRY posted a balance of payments (BoP) deficit of $740 million in January — the biggest in 11 months — as the government paid its foreign debt, according to data released by the Bangko Sentral ng Pilipinas (BSP) late Monday. It was a […]
Philippine consumer spending may grow 5.5% this year — S&P
PHILIPPINE STAR/EDD GUMBAN CONSUMER SPENDING in the Philippines would probably grow by 5.5% this year, still below the pre-coronavirus pandemic level of 6%, because a recovery in household activity could take a few more quarters, S&P Global Ratings said on Tuesday. In a report written by S&P economists Vishrut Rana […]
Marcos government has P2.42 trillion worth of PPP projects in pipeline
PHILIPPINE STAR/ MICHAEL VARCAS THE GOVERNMENT of Philippine President Ferdinand R. Marcos, Jr. has 117 public-private partnership (PPP) projects in the pipeline worth P2.42 trillion, according to the PPP Center, in a boost to his Build Better More infrastructure campaign. Out of the total, 55 are related to transportation such […]
MPIC keen on Ayala’s LRT-1 stake
PHILIPPINE STAR/EDD GUMBAN PANGILINAN-LED Metro Pacific Investments Corp. (MPIC) is exploring the possibility of acquiring Ayala Corp.’s stake in Light Rail Transit Line 1 (LRT-1), following Ayala’s announcement of its divestment plans. “I think in principle we are [interested] for a number of reasons. One is the possibility of being […]
CREC delays IPO to second quarter
CREC.COM.PH SAAVEDRA-LED Citicore Renewable Energy Corp. (CREC) has postponed its planned initial public offering (IPO) from March to the second quarter as it assesses offers from “various institutions.” “The company recently received inquiries from other institutions with regard to participation in the IPO,” the renewable energy company told the local […]
AREIT net income surges 43% to P4.93B
BW FILE PHOTO AREIT, Inc. announced on Tuesday that its net income surged by 43% to P4.93 billion in 2023, driven by increased occupancy rates and asset acquisitions. The company’s revenue increased by 41% to P7.14 billion, while earnings before interest, taxes, depreciation, and amortization rose by 39% to P5.04 […]
Manila Water unit allots P5.56B for services in Clark Freeport
A UNIT of Manila Water Co., Inc. has earmarked P5.56 billion for capital expenditure (capex) from 2023 to 2040 to enhance services in the Clark Freeport Zone (CFZ) in Pampanga. Clark Water Corp. is targeting to increase its current supply by 22% and is set to explore sustainable water sources […]
CEB says Pratt & Whitney to supply engines for 15 aircraft
CEBUPACIFICAIR CEBU Air, Inc., operator of budget carrier Cebu Pacific, has opted to proceed with ordering more aircraft engines from American aerospace manufacturer Pratt & Whitney (P&W). This decision comes amid the grounding of several of the budget carrier’s aircraft due to issues related to the engines. Last year, Cebu […]
Practical solutions to the education crisis: Lionheart Farms and Dualtech show the way
(Part 3) Instead of useless lamentations and wailings about the very poor performance of our 15-year youth in the Program for International Student Assessment (PISA) achievement tests in reading, arithmetic, and science, private citizens (which include those in the business sector, civil society, academe, and religious communities) should do whatever […]