Tag: bworldonline
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Middle East tensions may impact OFW remittances, inflation
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By Luisa Maria Jacinta C. Jocson, Reporter THE ONGOING Israel-Iran conflict may hurt remittances from Middle East-based overseas Filipino workers (OFWs), as well as increase volatility in oil prices that may stoke inflation, analysts said. “This might be exacerbated by the potential effect on Filipino OFWs. While in the past, alternative…
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Megawide bags contract to build Landers Aseana City
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SAAVEDRA-LED Megawide Construction Corp. has secured the contract to build a new Landers Store in Aseana Business Park, Parañaque City. Landers Aseana is an 18,710.91 square meter development, with construction expected to be finished by March 2025, Megawide said in an e-mailed statement on Thursday. The ceremonial concrete pouring for…
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Budget deficit narrows in March
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By Luisa Maria Jacinta C. Jocson, Reporter THE National Government’s (NG) budget gap narrowed in March amid a dip in tax collection and muted spending, the Bureau of the Treasury (BTr) reported on Wednesday. Data from the BTr showed the Philippines’ budget deficit shrank by 6.82% to P195.9 billion in…
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Philippines lags Southeast Asian neighbors in smart tourism index
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By Beatriz Marie D. Cruz, Reporter THE PHILIPPINES lags behind some of its Southeast Asian neighbors in terms of readiness in developing smart tourism ecosystems, hampered by high internet costs and accessibility issues in rural areas, the Asian Development Bank (ADB) said. In a report entitled “Smart Tourism Ecosystem Development…
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Philippines’ main grids placed under red, yellow alerts
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By Ashley Erika O. Jose, Reporter THE PHILIPPINES’ main grids on Wednesday experienced a shortfall of energy supply for the seventh time this month, with a yellow alert being raised over the Mindanao power grid for the first time in 2024. In a statement, the National Grid Corp. of the…
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Asialink Finance plans IPO by 2028
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ASIALINK Finance Corp. (Asialink) is gearing up to conduct an initial public offering (IPO) by 2028, its chief executive officer said on Wednesday. In preparation for this milestone, the finance company is working to strengthen its financial standing, Asialink Chief Executive Officer Robert B. Jordan, Jr. said during a briefing.…
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OceanaGold PHL sets final IPO price at P13.33
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OCEANAGOLD Philippines, Inc. (OGPI) announced on Wednesday the final offer price for its upcoming initial public offering (IPO) at P13.33 per share, falling below the upper estimate of P17.28 per share projected by its parent company OceanaGold Corp. The IPO will consist of 456 million secondary common shares, with the…
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Q1 GDP growth may miss target
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THE PHILIPPINE economy likely continued its growth momentum in the first quarter, although this may fall short of the government’s target, GlobalSource Partners said. “The first quarter is likely to sustain positive economic growth which may not necessarily approximate the official target of 6-7% for at least the first quarter…
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SM Prime marks 30th anniversary with record-breaking income, P100-billion investment for 2024
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SM Prime Holdings, Inc. (SMPH), the leading integrated property developer in the Philippines, marks its 30th anniversary as a publicly listed company with the announcement of its highest-ever recorded income and a ₱100-billion investment for its partners, stakeholders, and communities they operate in. With eyes set on the future, SM…
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Infrastructure spending rises 27% in Feb.
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By Beatriz Marie D. Cruz, Reporter INFRASTRUCTURE spending jumped by 27% in February as the government ramped up road and defense modernization projects, the Department of Budget and Management (DBM) said. In the latest National Government (NG) disbursement report, infrastructure and other capital outlays rose by 26.6% or P16.7 billion…