Virus to cut Philippine growth — World Bank
THE Philippine economy is seen growing at a slower pace this year due to the fallout from the coronavirus disease 2019 (COVID-19) outbreak, and may even contract by as much as 0.5% if the Luzon-wide enhanced community quarantine will be extended, the World Bank said in a new report.
Inflation likely slowed in March as oil price plunges
THE overall rise in prices of widely used goods likely slowed in March, the central bank said on Tuesday, as oil prices plunged and food prices remained stable due to a price freeze amid the coronavirus disease 2019 (COVID-19) outbreak.
AboitizPower seeks nod on P9.6-B bonds
ABOITIZ POWER CORP. (AboitizPower) is seeking the approval of the Securities and Exchange Commission for the issuance of the fourth tranche of its P30-billion fixed-rate retail bonds registered in 2017 under the shelf registration program of the corporate regulator.
MPIC takes Japanese partners in Indonesia infrastructure firm
METRO PACIFIC Tollways Corp., (MPTC) the tollways unit of Metro Pacific Investments Corp. (MPIC), has sold a 10.32% stake in Indonesian infrastructure firm PT Margautama Nusantara (MUN) to a consortium of Japanese firms, the Metro Pacific group said on Tuesday.
PCC clears Synergy acquisition of entities owning NGCP
THE PHILIPPINE Competition Commission (PCC) has approved the Synergy Grid & Development Phils. Inc. acquisitions of shares in electricity holding companies OneTaipan Holdings, Inc. (OneTaipan) and Pacifica21 Holdings, Inc. (Pacifica21).
Uplifting the arts in challenging times
Cinemas, theaters, concert halls, and museums have all closed their doors since Luzon was placed on enhanced community quarantine due to the COVID-19 pandemic two weeks ago. Show openings, gigs, workshops, regional art festivals and conferences have either been postponed or canceled.
Treasury turns down all bids for 35-day T-bills as rates increase
THE GOVERNMENT rejected all bids for the one-month Treasury bills (T-bills) it auctioned off on Tuesday as investors continue to ask for higher yields amid uncertainties caused by the coronavirus disease 2019 (COVID-19) pandemic.
What a drag! Self-isolating Aussie queen takes routine online
SYDNEY — An Australian drag queen has shifted her performances from stage to personal screens during coronavirus lockdown in Sydney to ensure she’s not all dressed up with nowhere to go.
Security Bank seeks to raise P50B via LTNCDs
SECURITY BANK Corp. is looking to raise P50 billion via long- term negotiable certificate of deposit (LTNCD) which will be used to lengthen the maturity of its liabilities.
Elton John’s coronavirus ‘living room’ show raises $8 million for US charities
LOS ANGELES — A weekend benefit broadcast featuring recording stars performing live music online from home raised nearly $8 million for two charities serving first responders and Americans facing economic hardship amid the coronavirus crisis, sponsors said on Monday.
Banks’ foreign currency loans inch up on firms’ capital requirements
FOREIGN CURRENCY loans disbursed by local banks inched up in the last quarter of 2019 on the back of borrowing firms’ higher working capital requirements.
Government preparing package to aid small firms
THE economic team is working on an economic package and rehabilitation plan to keep small and medium-sized enterprises (MSMEs) afloat after the quarantine period, which shut down most economic activity.