A MAGNITUDE 5.8 earthquake struck north of the island province of Occidental Mindoro on Wednesday morning, with various intensity levels of up to 4 felt in the parts of the capital region. There were no casualties or major infrastructure damage reported in Occidental Mindoro, located off the southwestern side of mainland Luzon. The regional police […]Read More
The Bangko Sentral ng Pilipinas on Wednesday left its key interest rate unchanged at a record low. — REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) held its key interest rate at a record low for a fourth straight meeting on Wednesday, as it continues to support the economy’s recovery from the pandemic. The Monetary Board […]Read More
REUTERS By Jenina P. Ibanez, Reporter INVESTMENT PLEDGES approved by the Philippine Economic Zone Authority (PEZA) increased by almost 54% in the first quarter after coming off a low base last year. PEZA in a report on Wednesday said that investments went up 53.87% to P25.382 billion based on 57 newly approved projects. The investment […]Read More
COURTESY OF DBP FACEBOOK PAGE THE GOVERNMENT is working on establishing a credit rating system for local government units (LGUs) by next year, as part of efforts to encourage them to issue bonds to raise funds for development projects. State-run lender Development Bank of the Philippines (DBP) said in a statement on Wednesday that it […]Read More
The Philiwppine economy shrank by 4.2% in the first quarter, the fifth consecutive quarter of decline since the pandemic began. — PHILIPPINE STAR/ MICHAEL VARCAS THE PHILIPPINE ECONOMY will likely “struggle to recover” this year amid a “third wave” of coronavirus disease 2019 (COVID-19) infections, renewed lockdown restrictions in the capital region, and a snail-paced […]Read More
PRESIDENTIAL PHOTO/ JOEY DALUMPINES PRESIDENT Rodrigo R. Duterte has directed all agencies under the Executive department to identify savings from their 2020 budgets. In Administrative Order No. 41, the President ordered agencies to identify portions or balances of their released appropriations under the 2020 General Appropriations Act “that may be declared as savings.” The Department […]Read More
JOLLIBEE Foods Corp. (JFC) generated P153 million in net attributable income despite lower sales in the first quarter, it said on Wednesday, as it bounced back from the P1.68-billion loss recorded in the same period last year. The fast-food giant recorded a 12% revenue fall to P34.68 billion from P39.43 billion. It finished the quarter […]Read More
FACEBOOK.COM/PHILIPPINEAIRLINES FLAG carrier Philippine Airlines (PAL) assured the public on Tuesday that its operations will not be affected by its ongoing “comprehensive restructuring.” The statement was issued on Tuesday in response to a request for comment on a report posted on FlightGlobal, an aviation news and information website, that the airline had informed its lessors […]Read More
BW FILE PHOTO YIELDS ON the central bank’s term deposits declined on Wednesday following the release of the first-quarter gross domestic product (GDP) data and ahead of the Monetary Board’s policy review where it was expected to keep benchmark rates steady. Tenders for the term deposit facility (TDF) of the Bangko Sentral ng Pilipiinas (BSP) […]Read More
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