Food, oil to stoke June inflation
INFLATION likely clocked in faster in June on the back of rising food and oil prices coupled with a weaker peso, economists said in a BusinessWorld poll, with some noting that another rate hike may still be on the table for the central bank to temper prices.
Economic managers to review targets, assumptions for 2019 budget today
THE DEVELOPMENT Budget Coordination Committee (DBCC) will convene today to review key economic assumptions for the 2019 budget targeted to be submitted to Congress on the day of President Rodrigo R. Duterte’s third State of the Nation Address (SONA) this month.
Tech firm files for P6.8-B IPO
THE LOCAL UNIT of Taiwan-based technology conglomerate New Kinpo Group (NKG) seeks to raise P6.77 billion through an initial public offering (IPO) within the year, as it aims to expand production capacity in the country.
New breed of Fil-Chinese businessmen sail out of the capital
YOUNG FILIPINO-Chinese entrepreneurs and professionals are exploring growing opportunities outside the Philippine capital, prodded by the administration’s infrastructure and inclusive development agenda, and their curiosity piqued by the recent rise of political and business leaders from Mindanao.
BSP sees June inflation between 4.3-5.1%
INFLATION remained elevated in June given higher prices of rice and crops as well as cooking gas, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
DM Wenceslao slumps in market debut
PROPERTY developer and construction firm D.M. Wenceslao & Associates, Inc. raised P8.15 billion in the country’s first initial public offering (IPO) this year, but its shares closed below its offering price on its first day of trading.
New draft rules propose auction of frequencies for 3rd telco player
THE Department of Information and Communications Technology (DICT) released on Friday another set of draft guidelines for the selection of the third major player in the telecommunications industry, this time proposing an auction of the frequency spectrums.
‘Better-than-expected’ tax gains cited
“IMPRESSIVE” gains from tax reform bode well for the Philippines’ credit rating, Moody’s Investors Service said, even as local political noise and tighter global financial conditions pose risks for the economy.
Gov’t plans to raise up to P300B in Q3 debt
THE BUREAU of the Treasury said on Thursday it plans to raise as much as P270 billion from the sale of Treasury bills and bonds next quarter, 17% less than it had programmed for the current quarter.
Moody’s sees little risk of problem loans despite rising rates
THERE SHOULD BE little risk of problem loans even as interest rates rise further, a global credit rater said, noting that policy adjustments can be expected to temper credit growth.
NEDA bullish on project completion
THE GOVERNMENT now expects to complete nearly half of its 75 flagship infrastructure projects by the time President Rodrigo R. Duterte ends his six-year term due to efforts to address bottlenecks in approval, funding and implementation, the National Economic and Development Authority (NEDA) said in a briefing on Wednesday.
May sees infra, other capital outlays rise
INFRASTRUCTURE and other capital outlays continued to surge in May, the Department of Budget and Management (DBM) said on Wednesday, backing projections that gross domestic product (GDP) growth caught up with the official target this quarter.