StanChart: BSP may cut rates by June

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 […]

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 […]