People walk inside a market in Marikina City, June 17. — PHILIPPINE STAR/ WALTER BOLLOZOS By Keisha B. Ta-asan THE BANGKO SENTRAL ng Pilipinas (BSP) is widely expected to raise the benchmark rate on Thursday, with most analysts forecasting a 50-basis-point (bp) increase after inflation quickened to a near four-year high in July. A BusinessWorld poll last week ...
PHILSTAR FILE PHOTO THE NATIONAL Government paid P44.29 billion to service its debt in June, down by 70.51% from a year earlier, as a rise in interest payments was offset by the significant decline in amortization, preliminary data from the Bureau of the Treasury (BTr) showed. In June, around 82.99% of debt repayments went to interest, while the rest went ...
A motorist uses the Binondo-Intramuros Bridge on Wednesday, April 6. — PHILIPPINE STAR/ KRIZ JOHN ROSALES By Arjay L. Balinbin, Senior Reporter THE PHILIPPINES and China have agreed to resume negotiations on three major railway projects, the Department of Transportation (DoTr) said on Sunday. Transportation Secretary Jaime J. Bautista and Chinese Ambassador Huang Xilian “agreed to restart negotiations for major ...
By Arjay L. Balinbin, Senior Reporter GLOBE Telecom, Inc. anticipates future earnings to increase as a result of the expected cost savings from the sale of its over 7,000 towers, a company official said. Globe expects that by selling the towers, it will spend less, especially on rent, than it did when it owned these towers. “Its impact on the ...
PHILSTAR FILE PHOTO TOYOTA Motor Philippines Corp. (TMP) is seeking the extension of the Comprehensive Automotive Resurgence Strategy (CARS) incentives program until 2027 to allow the car manufacturer to meet the required production quota. “The CARS program has to be extended. Three years would be reasonable. We are asking for an extension until 2027 — three years from the original ...
THE Court of Appeals (CA) has upheld the decision of the Securities and Exchange Commission (SEC) that imposed a fine of P1 million and a five-year suspension on businessman Roberto V. Ongpin and several directors of Alphaland Corp. for issuing undervalued company shares in exchange for property and failing to disclose property valuations. In a 19-page decision on Aug. 10 ...
CEBU Landmasters, Inc. (CLI) is expecting to spend the remaining P8 billion of its P13-billion capital expenditures (capex) budget in 2022 for property development and land acquisitions in the second half. “The second half will be more busy, more productive for us. We are really expecting to spend the P13 billion that we’ve set to spend in capex this year ...
THE Philippine Stock Exchange (PSE) recorded a 25.1% decline in its attributable net income in the second quarter to P170.46 million from P227.57 million a year earlier after allotting mark-to-market provisions. “Net income was slightly lower […] because of a big mark-to-market provision for our investments of P106 million,” PSE President and Chief Executive Officer Ramon S. Monzon said in ...
PLDT, Inc. said its wireless arm Smart Communications, Inc. had offered a “substantial discount” on compensation that DITO Telecommunity Corp. should pay for alleged fraudulent international calls. “International calls using DITO SIMs, [which] should have been subject to proper toll rates, came through [Smart’s] network as local calls, with DITO mobile numbers as caller IDs,” PLDT said in a statement ...
1 of 2 A DEBUT SHOW by a 21-year-old fashion designer pays homage to a favorite architect and his life story. Deep Japanese nuances can be found in the clothes of Ellis Co, who presented his first fashion show late last month at Whitespace, naming the collection “Memoirs of the Future” under his label, Archives. Violinists from the Manila String ...