Solar, wind projected to lead renewable energy expansion
SOLAR and wind energy projects will continue to drive the growth of Philippine renewable energy (RE) with additional capacity estimated at 6.8 gigawatts (GW) over the next 10 years, Fitch Solutions Country Risk and Industry Research estimated in a report.
BSP sees slower growth until 2024
THE PHILIPPINE ECONOMY is expected to hit the government’s growth target this year, but the central bank sees slower expansion through 2024 due to the impact of high interest rates.
PHL ranking in corruption index declines
THE PHILIPPINES slipped three places in a corruption index released by Global Risk Profile (GRP), which noted that financial aid programs during the pandemic created opportunities for corruption and bribery.
Pandemic unleashes flurry of new Filipino entrepreneurs
AUDREY CRUZ was one of the many Filipinos who sold pans of sushi bake at the start of the coronavirus pandemic.
BW Economic Forum returns with ‘Forecast 2023’
THE RECENT global economic outlook has become “gloomy and more uncertain,” according to the International Monetary Fund (IMF). As businesses bounce back from the pandemic, countries are facing shocks from Russia’s invasion of Ukraine, rising inflation and a global economic slowdown. A possible global recession is further complicating the outlook.
Peso may climb on Fed minutes
THE PESO may continue to strengthen against the dollar this week ahead of the release of the minutes of the US Federal Reserve’s November meeting, which could provide hints on its next move.
Profit taking seen this week amid lack of leads
PHILIPPINE SHARES may move sideways this week as investors could pocket profits from the market’s recent rise amid a lack of leads.
Mindanao WESM targeted for launch in early 2023
THE INDEPENDENT Electricity Market Operator of the Philippines (IEMOP) said it hopes to launch Mindanao’s wholesale electricity spot market (WESM) by the first quarter of next year.
P250-M startup fund expected to be launched next year
THE DEPARTMENT of Trade and Industry (DTI) said it hopes to roll out a P250-million startup fund by early next year.
Israel water industry sees Cebu as potential market for desalination technology
ISRAEL’s water industry considers Cebu as a potential market for desalination technology to address its inadequate water supply, Israel’s economic attache to Manila said.
Increasing RE should take priority over going nuclear, think tank says
INCREASING the share of renewable energy (RE) in the power mix should take priority over the Department of Energy’s (DoE’s) plans to introduce nuclear power, an energy think tank said.
BSP delivers jumbo rate hike anew
THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday raised its key interest rate for a sixth time this year to tame inflation, which it now sees rising to 5.8% by yearend.