February registrations pull down BoI approvals in first two months
THE BOARD of Investments (BoI) -- the government’s lead investment promotion agency -- saw total value of projects approved drop in February, which one official attributed to high base effects and one economist blamed on “spillover effects” of fast inflation, government moves to change the fiscal incentives system and a generally trying global economic environment.
PHL resilient to global slowdown — BSP official
THE PHILIPPINES should be able to weather a US recession and global economic slowdown, a senior central bank official told reporters on Thursday, citing scope for monetary authorities and economic planners to sustain rapid domestic-driven growth.
Economists count budget delay’s Q1 cost
ECONOMIC GROWTH this quarter could hover close to last quarter’s pace but will be substantially slower than the year-ago clip when official data is reported on May 9, according to economists asked on Wednesday, citing primarily the impact of delayed enactment of the P3.757-trillion national budget for this year.
Banks’ bad loans grow in January
BAD LOANS held by big banks grew in January to outpace lending growth, the latest central bank data showed.
Power grid operator flags spike in demand
THE NATIONAL GRID Corporation of the Philippines (NGCP) is bracing for power demand to hit a record high in this year’s dry season, prompting the privately owned grid system operator to call on consumers to use energy efficiently.
With Fed pause, list of potential Asia rate cutters grows
SEOUL/HONG KONG -- A slowing global economy and abrupt end to Federal Reserve policy tightening have shifted rate cut expectations in Asia to probable from possible, with the market betting on moves by a growing list of central banks.
Senate sends 2019 budget to Duterte
THE BICAMERAL DEADLOCK over this year’s P3.757-trillion national budget -- which threatened to drag overall economic growth -- ended on Tuesday as Senate President Vicente C. Sotto III announced that he has signed, with “reservations,” and transmitted the spending plan to Malacañang.
Manila Water waives April bills’ minimum charge
AYALA-LED Manila Water Co., Inc. will waive the water bill of its customers who were severely affected by the water shortage in March, while waiving the minimum charge of the rest of its customers for the month, in a move that its top official expects to cost at least P150 million.
Consortium for NAIA rehab gets end-April ultimatum
THE DEPARTMENT of Transportation (DoTr) may drop the proposal of a consortium made up of some of the country’s major conglomerates to take over Ninoy Aquino International Airport (NAIA) rehabilitation if it is unable to finalize its contract terms for the project by next month.
Fintech group sets financial inclusion objectives
A NEW INDUSTRY BODY has set goals for financial inclusion, as its members look to bring 25 million Filipinos aboard the formal financial system through the use of digital technology.
Tighter watch looms on realty loans
THE CENTRAL BANK plans to roll out by next year new tools to better monitor lending to the volatile real property sector, according to a senior official of the Bangko Sentral ng Pilipinas (BSP).
Bourse to make sure REIT funds will not be invested abroad
THE PHILIPPINE STOCK EXCHANGE, Inc. (PSE) is moving to tighten rules for Real Estate Investment Trusts (REIT), as it wants to ensure that funds invested in such instruments will not be used for projects abroad.