US one-hundred-dollar notes are seen in this picture illustration taken in Seoul Feb. 7, 2011. — REUTERS THE NATIONAL Government’s (NG) debt service bill jumped to P1.604 trillion in 2023, exceeding its program for the year by 3%, the Bureau of the Treasury (BTr) reported. Data from the BTr showed […]
Lessen import dependence, unnecessary spending to curb inflation — analysts
Inflation accelerated to 3.4% in February due to rising food, oil and transport prices. — PHILIPPINE STAR/EDD GUMBAN By Beatriz Marie D. Cruz, Reporter THE GOVERNMENT of President Ferdinand R. Marcos, Jr. should cut unnecessary spending and boost law enforcement against anomalous activities in the agriculture sector to cool inflation, […]
Philippines’ big banks saw slower asset growth in fourth quarter
Peoples walk past automated teller machines in Makati City, June 23, 2016. — REUTERS THE PHILIPPINES’ big banks saw slower growth in total assets in the fourth quarter of 2023, while loans grew the fastest in three quarters despite high interest rates. The latest edition of BusinessWorld’s quarterly banking report […]
Red Sea crisis could fan Asia’s inflation anew, delay rate cuts
ASIA could see slower economic growth and a resurgence of inflation as escalating violence in the Red Sea snarls shipping between the region and their trade partners in the US and Europe, according to the Economist Intelligence Unit (EIU). The supply chain disruptions could cut as much as 0.5 percentage […]
ProCredit secures US$4.1 million in pre-seed funding to propel tech-enabled SME lending
ProCredit Team (from left to right): Ged Cotoco, Ana Dipasupil, Adnan Agha, Dwaipayan Mitra, and Kim Ordas ProCredit, a Philippines-based small and medium enterprise (SME) lender, closed a US$4.1-million pre-seed round, led by Integra Partners, with participation from the Menardo Jimenez Family Office, M Venture Partners (MVP), Cento Ventures, Gobi […]
FEU project drives economic empowerment for Batangas women
FEU Head Chemist Jim Cruz teaching women of Quilitisan how to make Amparo soap. Far Eastern University (FEU) is an active partner of the women of Brgy. Quilitisan, Calatagan, Batangas in the production of Amparo, a handmade soap showcasing beneficial cleansing action and local tropical scents. Amparo is part of […]
Metro Pacific Tollways finalizing IPO plans
THE METRO PACIFIC Tollways Corp. (MPTC) said it is currently finalizing its plans for an initial public offering (IPO) as it prepares to bid for a major project in Indonesia. “It is too early because we are still in the process of valuation between us and San Miguel (San Miguel […]
ACEN, US firm to develop 1 GW of renewables in Philippines
ACEN CORP. and United States-based renewable energy company BrightNight will jointly develop one gigawatt (GW) of renewables in the Philippines worth $1.2 billion over the next five years, the Ayala-led company said on Sunday. “Our collaboration with BrightNight reflects our shared ambition to develop superior, hybrid renewable energy solutions,” Patrice […]
Philippine T-bills, T-bonds may track US job data
THE RATES of Treasury bills (T-bills) and (T-bonds) would move this week depending on the results of US nonfarm payroll data, traders said at the weekend. A trader said in an e-mail the rate for the 10-year bond could range from 6.25% to 6.3% as US job creation for February […]
Paris Fashion Week: LV’s shimmer, Chanel’s tailored suits, and McCartney’s recycled wool
1 of 4 PARIS — Louis Vuitton (LV) womenswear designer Nicolas Ghesquiere celebrated his 10th anniversary at the LVMH-owned label with a fashion show that drew crowds to the Louvre Museum at nightfall last Tuesday, the last day of Paris Fashion Week. (Watch the show here: Women’s Fall-Winter 2024 Show […]