FINANCE SECRETARY RALPH G. RECTO — DEPARTMENT OF FINANCE THE BANGKO SENTRAL ng Pilipinas (BSP) may cut interest rates by 50 basis points (bps) this year, Finance Secretary Ralph G. Recto said. “Possibly, 50 bps (this year). Maybe two (cuts). This is just my expectation,” he told reporters in mixed English […]
GDP likely grew by 6.1% in Q1
Traffic is seen along EDSA in Quezon City. — PHILIPPINE STAR/RYAN BALDEMOR PHILIPPINE gross domestic product (GDP) likely grew by 6.1% in the first quarter amid an improvement in government spending, economists said. “The economy looks set to accelerate in 2024 with first-quarter GDP estimated at 6.1% as infrastructure spending […]
SEC asks NTC to block Binance in Philippines
THE SECURITIES and Exchange Commission is asking the National Telecommunications Commission to block access to the Binance website in the Philippines. — REUTERS THE PHILIPPINES is blocking access to the world’s largest cryptocurrency exchange Binance, which the Securities and Exchange Commission (SEC) says has been operating in the country without […]
NG to borrow P585B from domestic market
THE NATIONAL GOVERNMENT (NG) is looking to borrow P585 billion from the domestic market in the second quarter, the Bureau of the Treasury (BTr) said on Monday. In a notice on its website, the BTr said it seeks to raise P195 billion from the issuance of Treasury bills (T-bills) and […]
PHINMA Corp. announces Annual Stockholders’ Meeting on April 23 at 10:00 a.m.
PHINMA Corp. announces Annual Stockholders’ Meeting on April 23 at 10:00 a.m. – BusinessWorld Online Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web […]
Alternergy board OK’s use of IPO proceeds for wind projects in Rizal, Quezon
MATT ARTZ–UNSPLASH ALTERNERGY Holdings Corp. announced on Monday that it intends to use some of the money raised from its initial public offering (IPO) for its two wind power projects in Rizal and Quezon provinces. The company’s board of directors has approved the reallocation of P64.86 million from the IPO funds to […]
Streaming subscriptions boost 2023 recorded music revenues — report
CHRISTINA VICTORIA CRAFT-UNSPLASH LONDON — Global recorded music revenues grew for the ninth year running in 2023, increasing 10.2% to $28.6 billion mainly thanks to a rise in paid streaming subscribers, a report said on Thursday. Paid subscriptions to music streaming services exceeded 500 million globally for the first time, […]
Upson International profit down 13.7%
LISTED information technology (IT) retailer Upson International Corp. saw a 13.7% drop in its 2023 net income to P464.20 million from P537.86 million the prior year due to pre-opening costs and lower gross margin. “Net income declined 13.7% to P464.2 million as a result of lower gross margin and pre-opening […]
3 Body Problem: Netflix adaptation of Liu Cixin’s alien invasion trilogy is captivating
SEA SHIMOOKA in Netflix’s 3 Body Problem. CHINESE science fiction writing has experienced an unparalleled surge in global acclaim over the last decade, with author Liu Cixin and his novel The Three-Body Problem (2006) at the forefront. Barack Obama and Mark Zuckerberg are among the many readers captivated by Liu’s […]
Maynilad, Manila Water told to implement supply measures for hot season
PHILIPPINE STAR/RUSSELL PALMA THE METROPOLITAN Waterworks and Sewerage System (MWSS) has directed its two water concessionaires to ensure the implementation of augmentation measures as the summer season begins. “MWSS has already issued instructions to our two concessionaires to ensure that all our augmentation measures are operational,” Patrick James B. Dizon, […]