Tag: bworldonline
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Flooding in Metro Manila and parts of Luzon
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Flood advisories are raised in different areas in Metro Manila and parts of Luzon as heavy rains continue to impact the region. The weather bureau raised a red rainfall warning on Wednesday morning due to heavy rains caused by the Typhoon Carina-enhanced southwest monsoon. Areas under the Red rainfall warning,…
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Fiscal plan for Marcos’ 3rd year missed in SONA
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PRESIDENT Ferdinand R. Marcos, Jr. failed to discuss plans to address the country’s fiscal situation in his third State of the Nation Address (SONA), despite his vows to pursue “aggressive” infrastructure projects and pushing for a wage hike for government workers and teachers, economists said.
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Digital payments account for half of retail transactions at end-2023
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THE PHILIPPINES achieved its target of digitizing 50% of all retail payments at the end of 2023, amid the rise in merchant payments, the Bangko Sentral ng Pilipinas (BSP) said.
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Ballet Philippines turns romantic
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BALLET Philippines (BP) is opening its 55th season with one of the oldest surviving romantic ballets in history. For La Sylphide, the classical and contemporary dance company gives the choreography by Filippo Taglioni a distinct Filipino twist, according to BP artistic director Mikhail “Misha” Martynyuk. Recalling why they chose it…
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Sangley airport developers get PCC approval
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YUCHENGCO-LED House of Investments, Inc. said the Philippine Competition Commission (PCC) has approved its joint venture for the Sangley Point International Airport (SPIA) project. “We received the PCC Resolution today, which clears the transaction between the Provincial Government of Cavite and the consortium created by Cavitex Holdings, Inc. and House…
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Marcos orders total ban on POGOs
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PRESIDENT Ferdinand R. Marcos, Jr. on Monday announced a total ban on all offshore gaming operations in the Philippines, saying these have been linked to illegal activities including money laundering and financial scams.
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MB greenlights $3.9-B foreign borrowings in Q2
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THE MONETARY BOARD (MB) has approved $3.9 billion of public sector foreign borrowings in the second quarter, the Bangko Sentral ng Pilipinas (BSP) said. Approved public sector foreign borrowings were 43% higher than $2.73 billion recorded approvals in the April-to-June period a year ago, the BSP said in a statement…
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Poverty falls to below pre-pandemic level in 2023
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ABOUT 17.54 million Filipinos were living in poverty in 2023, significantly lower from than the nearly 20 million in 2021, the Philippine Statistics Authority (PSA) reported on Monday. Based on preliminary results of the PSA’s Family Income and Expenditure Survey (FIES), the poverty incidence among the population fell to 15.5%…
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Sky-Converge deal may lead to bigger move — analysts
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THE PARTNERSHIP between Sky Cable Corp. and Converge ICT Solutions, Inc. could evolve into a more significant transaction, especially in light of the canceled deal with PLDT Inc., according to some analysts.
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Central bank, Treasury launch fully automated intraday settlement facility
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THE BANGKO SENTRAL ng Pilipinas (BSP) and Bureau of the Treasury (BTr) have launched a fully automated intraday settlement facility (ISF) to address timing issues and make transactions for banks more efficient. In a statement on Monday, the central bank said it officially rolled out the automated ISF on June…