Tag: bworldonline
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Foreign investment pledges fall 64% in Q1
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FOREIGN INVESTMENT pledges slumped by 63.6% in the first quarter as global economic challenges prompted investors to be more wary of investing in emerging markets like the Philippines, analysts said.
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Gov’t mulls sale of stake in SCTEx
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THE DEPARTMENT of Finance (DoF) is looking to sell the government’s stake in the Subic-Clark-Tarlac Expressway (SCTEx), possibly to state pension funds, in order to boost revenues, Finance Secretary Ralph G. Recto said. “We’re looking at selling those shares. Maybe the Social Security System (SSS) and Government Service Insurance System…
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Remittance growth slows in March
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MONEY SENT HOME by overseas Filipino workers (OFWs) in March recorded its slowest pace of growth in nine months, data from the Bangko Sentral ng Pilipinas (BSP) showed.
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Recto expects BSP to keep rates steady amid weak peso
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LATEST INFLATION DATA and the recent peso performance will likely prompt the central bank to extend its policy pause, Finance Secretary Ralph G. Recto said. “We’ll take a look at the data. So far, the way I see it, unless something changes between now and then, I think (it will…
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Philippines falls to its worst good governance index ranking in 3 years
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THE PHILIPPINES’ ranking in a global good governance index dropped four spots to 67th out of 100 countries — its worst showing in three years — as it scored lower in several indicators including leadership and foresight.
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Banking, power, property boost FDC Q1 income to P2.9B
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FILINVEST Development Corp. (FDC) saw a 36% rise in its first-quarter (q1) attributable net income, reaching P2.9 billion from last year’s P2.2 billion, driven by gains in the banking, power, and property sectors. First-quarter total revenue and other income improved by 28% to P26.4 billion, FDC said in a statement…
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MGen subsidiary to build LNG power plants in Singapore
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PACIFICLIGHT Power Pte. Ltd. (PLP), a subsidiary of Meralco PowerGen Corp. (MGen), will build two liquefied natural gas (LNG) generating units in Singapore, aiming to supply 100 megawatts (MW) of electricity. This comes after the company was awarded by the Energy Market Authority (EMA) the right to build, own, and…
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Peso’s prolonged weakness could stoke inflation — analysts
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THE PROLONGED weakness of the Philippine peso could potentially fan inflation, but the central bank does not need to intervene unless the currency significantly drops, analysts said.