Tag: bworldonline
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China’s defense ministry condemns US missile deployment in Philippines
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BEIJING/MANILA – China’s defence ministry on Thursday strongly condemned the deployment of a U.S. intermediate range missile system in the northern Philippines during military drills in April, saying it “brought huge risks of war into the region”. Defence Ministry spokesperson Wu Qian told a press briefing in Beijing that China…
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NG debt rises in April on weak peso
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THE NATIONAL Government’s (NG) outstanding debt returned to the P15-trillion level as of end-April due to the weaker peso, the Bureau of the Treasury (BTr) said.
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Peso slumps to near 19-month low
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THE PESO sank to a near 19-month low on Thursday due to a strong dollar as US Treasury yields surged amid a hawkish US Federal Reserve. The local unit closed at P58.635 per dollar on Thursday, weakening by 21.5 centavos from its P58.42 finish on Wednesday, Bankers Association of the…
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BSP needs to keep policy ‘tighter than before’ — HSBC
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THE BANGKO SENTRAL NG Pilipinas (BSP) may need to keep rates higher for longer or even hike rates further to cool inflation, HSBC said. This as it sees private consumption staying strong and spending patterns shifting as the Philippines inches closer to becoming an upper middle-income economy. In a report,…
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RFM Corporation to conduct 2024 Annual Meeting of the Stockholders virtually on June 26
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Ovialand celebrates 10th year anniversary
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Ovialand, Inc. (“Ovialand”), a real estate developer that provides the Premier Family Living experience to Filipinos, is celebrating its 10th year anniversary by giving back to the communities it has served. These activities include: Supporting the education of 10 scholars who will be studying in vocational schools. These scholars are…
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Cocolife announces Annual Stockholders’ Meeting via remote communication on June 26
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Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com. Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and…
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Illegal tobacco trade eating government revenues away — BIR
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THE Philippine government lost P25.5 billion in taxes from tobacco smuggling last year, according to the Bureau of Internal Revenue (BIR), as it sought to intensify its enforcement of tax compliance on the tobacco industry.
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GDP growth may fall below target in 2024, 2025 — BSP
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PHILIPPINE economic growth may fall below the government’s target this year and in 2025, as high interest rates dampen domestic demand, the Bangko Sentral ng Pilipinas (BSP) said. “The outlook on domestic economic activity remains intact, even as the economy is projected to operate slightly below potential. Economic growth could…
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Recto backs lower tariffs on rice
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FINANCE Secretary Ralph G. Recto said he is open to reducing tariffs on rice imports in order to help bring down prices of the food staple.