Posts by gia:

Greenergy sets up units for infrastructure, community development

ANTONIO L. Tiu-led Greenergy Holdings, Inc. has approved the incorporation of two wholly-owned units focusing on projects and services related to infrastructure and community development, the listed firm said on Monday. In a regulatory filing, Greenergy said that its board of directors, who met over the weekend, had authorized the incorporation of wholly owned subsidiaries, […]

GDP likely contracted by 8.5% in Q4

Consumer spending likely increased in the fourth quarter, as Filipinos spent more during the holiday season. — PHILIPPINE STAR/MICHAEL VARCAS By Beatrice M. Laforga, Reporter THE Philippines’ gross domestic product (GDP) likely contracted slower in the fourth quarter due to a pickup in economic activity as lockdown restrictions were further eased and higher consumer spending […]

NEDA board approves updated economic blueprint for next 2 years

The government will release the updated Philippine Development Plan on Feb. 4. — PHILIPPINE STAR/MICHAEL VARCAS THE NATIONAL Economic and Development Authority (NEDA) board, chaired by President Rodrigo R. Duterte, has approved the country’s medium-term economic development blueprint which was updated to consider the impact of the coronavirus disease 2019 (COVID-19) pandemic. “The Updated Philippine […]

Carmakers call for gov’t support on local assembly

By Jenina P. Ibañez, Reporter A CAR industry group is urging the government to support local assembly after another manufacturer stopped its Philippine production. Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) President Rommel R. Gutierrez said that Nissan Philippines, Inc.’s recent announcement to end car assembly in the country highlights the importance of […]

NBA licensed merchandise in Decathlon stores soon

NATIONAL Basketball Association (NBA) licensed merchandise will soon be available in Decathlon stores in the country after the French sporting goods retailer was recently named an official licensee of the United States-based basketball league. In an announcement officially made on Friday, the NBA said it signed a multiyear merchandising partnership with Decathlon, making the latter […]

Alsons allots P6.54 billion for four projects

By Angelica Y. Yang ALCANTARA-LED Alsons Consolidated Resources, Inc. (ACR) has earmarked around P6.54 billion as capital expenditures (capex) for four projects under development, including three hydro plants, the listed firm said over the weekend. ACR, which claims to be the first private sector power generator in Mindanao, has an aggregate installed capacity of 468 […]

BSP seen unlikely to touch rates this year

The Philippine central bank would probably pause monetary easing this year until previous rate cuts lead to substantial credit growth, according to Standard Chartered Bank. The Bangko Sentral ng Pilipinas is likely to bring down banks’ reserve requirements further instead to boost liquidity, Chidu Narayanan, an economist at the foreign bank, told an online news […]

PEZA eyes P100B in pledges this year

The Philippine Economic Zone Authority (PEZA) seeks to get more than P100 billion in investment pledges this year, slightly higher than last year. “We don’t want to be promising high figures,” PEZA Director-General Charito B. Plaza said in an e-mailed statement on Friday. “Instead, we must work hard and build support and partnerships from public […]

Younger kids allowed in malls

Minors as young as 10 years may go out to visit malls in areas under a general lockdown starting Feb. 1 to boost consumer spending, according to the government’s task force against the coronavirus. “Any person below 10 years old, those who are over 65 years of age, those with immunodeficiency, comorbidity, or other health […]