Tag: bworldonline
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DoTr defends planned hike in NAIA charges
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THE PLANNED HIKE in passenger service fees at the soon-to-be privatized Ninoy Aquino International Airport (NAIA) would help improve its operational efficiency, the Transportation department said, but analysts said the move is ill-timed and unjustified.
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SM Prime says retail bond offering generates P25B
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SY-LED property developer SM Prime Holdings, Inc. on Tuesday said it successfully raised P25 billion through its fixed-rate retail bond offering.
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S&P Global trims PHL growth outlook
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S&P GLOBAL RATINGS trimmed its gross domestic product (GDP) forecast for the Philippines for this year and 2025 amid expectations that high interest rates will continue to crimp domestic demand. In a report, the credit rater cut its growth forecast for 2024 to 5.8% from 5.9% previously. It also lowered…
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NEDA open to adjusting rice tariffs before 2028
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THE GOVERNMENT is open to adjusting tariff rates on rice imports if global prices show a steady decline, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said on Monday.
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Philippines has 25-year window to reap benefits of young population — WB
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THE PHILIPPINES has to take advantage of the changing population structure in the next 25 years, when the working-age population will outnumber dependents, according to the World Bank (WB). “The country has a 25-year window to harness the benefits of a changing population structure. So, the country will have a…
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Emperador sets P6.5-B capex to boost whiskey business
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EMPERADOR, Inc. said it allocated P6.5 billion for its capital expenditure (capex) budget this year to strengthen its whiskey business. Bulk of the capex was allotted for the expansion of the Dalmore distillery, slated for completion in the second half of the year, Emperador said in a statement to the…
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Tourist arrivals in PHL seen returning to pre-pandemic level only in 2025
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TOURIST ARRIVALS in the Philippines are expected to jump by 33% this year, but will only return to the pre-pandemic level by 2025, Fitch Solutions’ unit BMI said. In a report, BMI said it maintains a “positive outlook” for Philippine tourist arrivals through 2028, driven by tourists from key markets…
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PhilTower closes acquisition of 1,148 towers from Globe, progresses towards full purchase
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GLOBE Telecom, Inc. said it is close to finalizing its tower sales to Phil-Tower Consortium, Inc. (PhilTower) after selling another 48 towers for P710 million. This brings PhilTower’s total acquisitions to 1,148 towers, or 85% of the planned 1,350 towers, Globe said in a statement on Monday. Globe said proceeds…
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Infrastructure spending jumps in April
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INFRASTRUCTURE SPENDING jumped in April amid the continued implementation of projects, the Department of Budget and Management (DBM) reported. Infrastructure and other capital outlays rose by 36.2% to P118.9 billion in April from P87.3 billion in the same month a year ago, according to the latest National Government disbursement report.…
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Poll: BSP to stand pat for 6th straight meeting
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THE BANGKO SENTRAL ng Pilipinas (BSP) is expected to stand pat for a sixth straight meeting this week amid the peso’s weakness and risks to inflation.