Tag: bworldonline
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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…
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IMF cuts Philippine growth outlook
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THE INTERNATIONAL Monetary Fund (IMF) trimmed the Philippines’ growth outlook for this year, after a slower-than-expected first-quarter expansion.
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FDI inflows up 23% in March
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By Luisa Maria Jacinta C. Jocson, Reporter THE PHILIPPINES’ foreign direct investment (FDI) net inflows jumped by 23% year on year to $686 million in March, bringing the first-quarter inflows to nearly $3 billion, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. Net inflows plunged by 49.8% in…
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Iti Mapukpukaw, Third World Romance win big at 2024 Gawad Urian
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CARL JOSEPH E. Papa’s animated film Iti Mapukpukaw emerged victorious at the 47th Gawad Urian awards ceremony held on June 8, winning Best Picture, Best Animation, and Best Sound. Mr. Papa said while accepting the award that the win is “bittersweet” because it talks about “abuse and trauma.” “Para ito…
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PHL eyes ODA from France to fund projects
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THE PHILIPPINES and France have signed a government-to-government agreement to secure funding for the former’s priority projects, the Finance department said. In a statement on Monday, the agency said the agreement would allow the Philippine government to obtain concessional official development assistance (ODA) and blended financing from France. This would…
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Balisacan defends decision to cut tariffs on imported rice
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NATIONAL ECONOMIC and Development Authority (NEDA) Secretary Arsenio M. Balisacan on Monday defended the government’s decision to slash tariffs on rice until 2028, saying this would reduce the impact of elevated global rice prices on Filipino consumers. “If you reduce the tariff… that will dampen the effects of world rice…
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Lenders’ nonperforming loan ratio hits 11-month high
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THE PHILIPPINE banking industry’s nonperforming loan (NPL) ratio in April rose to the highest in 11 months, as soured loans increased due to elevated interest rates. Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed the banking industry’s gross NPL ratio rose to 3.45% in April from 3.39% in…