Fitch: BSP to hike rates by 150 basis points through 2023

The Bangko Sentral ng Pilipinas (BSP) is seen jacking up key interest rates by 150 basis points over the next two years amid the Federal Reserve’s aggressive tightening. Fitch Solutions Country Risk & Industry Research expects the BSP’s Monetary Board to deliver an aggressive rate hike of 75 basis points this year and another 75 […]

We got this! TG Limcaoco confident economy will bounce back from stricter quarantine protocols

Bank of the Philippine Islands (BPI) president and CEO TG Limcaoco sees the economy recovering from its pre-pandemic levels once once mobility resumes. In a letter to clients, Limcaoco said private consumption, investment and services would complement continued government spending on infrastructure as major growth drivers. TG Limcaoco sells Ayala, buys BPI shares The Philippines […]

Work never stops! NLEX to start Candaba Viaduct northbound upgrade

NLEX Corp. is set to start the slab link upgrade for the Candaba viaduct northbound lane as part of efforts to ensure the safety of its motorists. The rehabilitation, which will be done in six months, involves the replacement of 13 priority link slabs of the five-kilometer road network between Pampanga and Bulacan. “Whether it […]

PPA in control: COA urges GSIS to drop Manila North Harbor property from its books

The Commission on Audit is urging the Government Service and Insurance System (GSIS) to derecognize the Manila International Port Terminal Inc. (MIPTI) from its accounts because it neither controls nor gets rental from the country’s busiest port. In its latest annual audit report on GSIS, COA said the Philippine Ports Authority (PPA) has controlled and […]

Remittances sustain growth in November as expats send more money

Filipinos abroad continued to send home more money to their loved ones in the Philippines ahead of the Christmas and New Year holidays, data from the Bangko Sentral ng Pilipinas (BSP) showed. Remittances from overseas Filipino workers (OFWs) climbed for 10 straight months, rising by 4.8 percent to $2.77 billion in November last year. The […]

Venezuela: the decline of an oil giant in crisis

Leaks, rusted pipes, pieces of broken equipment scattered about and staircases leading nowhere: Lake Maracaibo’s oil field is a metaphor for Venezuela’s once-flourishing petroleum industry that is now on its knees. More than a century ago, the Maracaibo basin in northwestern Zulia state was the birthplace of a business that transformed the country into one […]

Ayalas seal deal to own half of Batangas Clean Energy

ACE Enexor Inc. (ACEX), the oil and gas exploration platform of the Ayala Group, has finalized its investment in a 1,100 megawatt combined cycle power plant in Batangas with the signing of a shareholders agreement with Batangas Clean Energy Inc. (BCE) and Gen X Energy LP. Under the deal, ACEX and Gen X Energy will […]

Gozon, Duavit in chillax mode as GMA radio stations continue to rule the airwaves

GMA Network Inc.’s flagship radio stations maintained their leadership position in their respective categories in Mega Manila for the second straight year. Month after month, Super Radyo DZBB 594 remained the undisputed highest rating AM radio station in Mega Manila with a total audience share of 37.7 percent based on Nielsen’s Radio Audience Measurement data […]

Gotianuns deploy P2.4B from Filinvest REIT IPO funds

Filinvest REIT led by bilyonaryo Josephine Gotianun-Yap has so far disbursed 20 percent of the P12.6 billion it raised from the initial public offering (IPO) last year. Fam shopping: Josephine Gotianun, daughter, son pick up P6.4M Filinvest REIT shares FILRT has spent a total of P2.4 billion for Filinvest property projects, construction arm, and purchase […]