Tag: bworldonline
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World Bank says global growth stabilizing but below pre-COVID levels
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WASHINGTON — The World Bank on Tuesday said the US economy’s stronger-than-expected performance has prompted it to lift its 2024 global growth outlook slightly but warned that overall output would remain well below pre-pandemic levels through 2026. The World Bank said in its latest Global Economic Prospects report that the…
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Meralco seeks bids for 600-MW baseload supply
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MANILA Electric Co. (Meralco) said it has started the bidding process for 600 megawatts (MW) of baseload power supply to meet energy requirements from 2025 onwards. The company launched the competitive bidding process aimed at securing a 15-year power supply agreement, scheduled to start on Aug. 26, 2025, Meralco said…
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PHL has room to raise taxes — IMF
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THE PHILIPPINES’ fiscal consolidation plan may be too “ambitious,” the International Monetary Fund (IMF) said, noting that the government still has room to raise taxes to generate much-needed revenues.
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April trade gap widest in 5 months
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THE PHILIPPINES’ trade deficit narrowed year on year in April but posted the widest level in five months, as exports and imports posted double-digit growth, the statistics agency said on Tuesday.
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Banking industry outlook is ‘improving,’ says Fitch
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THE PHILIPPINE BANKING industry’s revenue prospects are seen to further improve this year amid strong lending growth and an expected delay in policy easing, Fitch Ratings said. In a commentary, Fitch said that it revised its outlook on the Philippine banking sector to “improving” from “neutral.” “We expect banks to…
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New vehicle sales rise by 5.5% in May
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PHILIPPINE AUTOMOTIVE SALES rose by an annual 5.5% in May, amid “good consumer demand,” according to an industry group.
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JV of Meralco unit, PhilTower faces ‘more in-depth’ PCC scrutiny
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THE Philippine Competition Commission (PCC) on Tuesday said it has started a “more in-depth assessment” of a proposed joint venture (JV) between independent tower companies Phil-Tower Consortium, Inc. (PhilTower) and Miescor Infrastructure Development Corp. (MIDC). “On May 4, the Commission directed the PCC Mergers and Acquisitions Office to open a Phase 2…
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SMC firm on double-digit growth target for 2024 — Ramon Ang
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SAN MIGUEL Corp. (SMC) President and Chief Executive Officer Ramon S. Ang said the conglomerate is sticking to its double-digit growth target for the year despite economic uncertainties. “As you can see in the first quarter results of San Miguel Group, we are growing double-digit on revenue and operating income,”…
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PSA, DICT, and GCash pilot National ID eVerify integration
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Initiative to boost financial inclusion, digitalization agenda of the Philippines In line with a shared mission to promote financial inclusion in the country, the Philippine Statistics Authority (PSA), together with the Department of Information and Communications Technology (DICT), has tapped GCash as a pilot-testing partner for its National ID eVerify…