Tag: bworldonline
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Philippines’ ongoing power crisis is not artificial, says Marcos
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PRESIDENT Ferdinand R. Marcos, Jr. on Monday dispelled fears that the Philippines was experiencing an artificial power crisis after the country’s sole grid operator again raised a yellow alert in the Luzon and Visayas grids, citing an El Niño-driven increase in demand. “It definitely is not an artificial crisis because…
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Government raises borrowing program to P2.57 trillion
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THE NATIONAL GOVERNMENT (NG) is looking to borrow P2.57 trillion this year, mostly from the domestic market, the Department of Finance (DoF) said on Monday. In a statement, the DoF said this is 5% higher than its original P2.46-trillion program. National Treasurer Sharon P. Almanza said the revised borrowing plan…
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A significant fixture in the Philippines’ sustained economic progress
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Infrastructure serves as the backbone of economic activity, enabling the efficient movement of goods and people, facilitating trade, and enhancing overall productivity. Research indicates that every public dollar invested in infrastructure yields a substantial economic return. For instance, a 2022 analysis by the World Bank revealed that public investment has…
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Meralco Q1 net income up on higher energy sales
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MANILA Electric Co. (Meralco) recorded an 18.9% increase in its consolidated net income to P9.6 billion for the first quarter (q1) of the year, driven by energy sales and growth in other business segments. “[The increase was] due to higher energy sales volume of the distribution business and ongoing contributions…
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HK Disneyland begins its Marvel season of superheroes
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WITH Hong Kong (HK) being as strong a travel destination as ever, Filipino tourists can now check out new Marvel superhero-related offerings at Hong Kong Disneyland. Last year, Hong Kong saw a 302% increase in Filipinos making travel bookings via the Klook app. For the Disney theme park in particular,…
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Peso weakness to persist — analysts
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THE PESO may continue to depreciate further this year amid broad dollar strength, but the Philippine central bank may not need to intervene yet, analysts said. “The peso’s recent depreciation is a concern, but it’s part of a larger global trend,” Security Bank Corp. Chief Economist Robert Dan J. Roces…
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NG gross borrowings fall in March
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THE NATIONAL Government’s (NG) gross borrowings declined in March as external debt dropped by nearly half, data from the Bureau of the Treasury (BTr) showed.
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Lamudi’s Property Fair opens in Metro Manila on May 3, heads to Cebu in August
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The Lamudi Property Fair returns to TriNoma for the Metro Manila leg of the country’s biggest property expo. It brings top real estate developers together to present exciting deals for active home seekers. Meanwhile, real estate professionals can look forward to exclusive accreditation announcements. Co-presented by IKEA, Lamudi Property Fair…
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ERC urged to hike reserve power capacity
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THE ENERGY REGULATORY Commission (ERC) should raise the required reserve power capacity of the grid to prevent more outages in the future, an energy think tank said. “Having an increased reserve power capacity in the grid can mitigate strains and potential power outages by ensuring a greater backup power supply…
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BusinessWorld’s Patricia Mirasol wins award
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PATRICIA B. MIRASOL, a multimedia producer at BusinessWorld, won the Best in Health Innovation and Collaboration Reporting category at the 2023 Community Press Awards of the Philippine Press Institute (PPI). Ms. Mirasol tied as Outstanding National Journalist for the category with Pam Pastor of the Philippine Daily Inquirer. This is…