MANILA – The governor of the Philippine central bank on Friday reiterated its readiness to act to combat inflation, which it said could fall below 4% next year. At a business forum, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said there was a chance for inflation to return within the central bank’s 2-4% […]
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Business sentiment more optimistic in Q2, less buoyant in Q3, BSP says
BUSINESS sentiment is more optimistic in the second quarter, but is less buoyant in the third quarter and the next 12 months, the central bank said.The overall confidence index (CI) rose to 35.4 percent in Q2 from 32.9 percent in the previous quarter, according to the second quarter Business Expectations Survey (BES) by the Bangko […]
Infinera and NEC to Modernize Neutral Networks’ Mexico to United States Fiber Optic Network with Industry-leading ICE6 800G Solution
San Jose, Calif., Mexico City and Tokyo, Jun 29, 2022 – (JCN Newswire via SEAPRWire.com) – Infinera (NASDAQ: INFN) and NEC Corporation (TSE: 6701) announced today that Neutral Networks deployed Infinera’s ICE6 technology for its new transnational neutral fiber optic network NEXT. The companies worked closely together to design the largest optical network modernization between […]
Raslag earnings up on higher energy sales
RENEWABLE energy firm Raslag Corp. reported that its unaudited first-quarter net income grew by 2% to P26.1 million, driven by higher energy sales. Raslag Chairman and President Peter G. Nepomuceno said the company “continues to perform very well on the strength” of its operating feed-in tariff-eligible solar plants. “[W]e expect revenues to grow significantly,” he said, […]
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What to See This Week (06/03/22)
1 of 2 Dilan Gwyn in The Other Side (a.k.a. The Evil Next Door) Tessa Kozma and Kristen MacCulloch in Motherly The Other Side A SWEDISH thriller, The Other Side (a.k.a. The Evil Next Door) follows a family — a father, his son, and girlfriend — that moves into a new house. When he’s out […]
Ayala energy firms share wish list for next government
THE next political leadership will face a tightness in power supply in the next three to five years, officials of Ayala-led energy companies said, as they enumerated their wishes such as clarity in policy and enforcing “actionable” near-term solutions. “The next leadership will be faced with a challenging situation given the ongoing energy crisis globally […]
Cebu Pacific says cash enough for next 18 months
BUDGET carrier Cebu Pacific, operated by Cebu Air, Inc., said it has sufficient cash to support its operations for the next 18 months. “As of March 30, 2022, the group has undertaken various financing activities intended to ensure availability of sufficient financial resources to enable the group to continue as a going concern,” Cebu Air […]
UK firms expect pay rises in record numbers as inflation starts to bite
A RECORD number of UK companies expect to increase wages over the next year as the war in Ukraine deepens the cost of living crisis, a survey showed. The Lloyds Bank Business Barometer found that a quarter intended to boost average wages by at least 2% in the next 12 months. A fifth of businesses […]
LBC Ronda Pilipinas returns to South next year
BAGUIO CITY — The LBC Ronda Pilipinas is going back to Visayas and Mindanao next year after a memorable 11th edition that was ruled by new millionaire king Ronald Lomotos of Navy Standard Insurance. “We’re happy to announce that there will be a Ronda Pilipinas next year and LBC is targeting Visayas and Mindanao as […]
BSP sees wider current account deficit in 2022, 2023
MANILA – The Philippine central bank said on Friday it had revised its current account and balance of payments projections for this year to reflect the country’s improving growth prospects as well as the impact of Russia’s invasion of Ukraine. The country’s current account deficit is projected to reach $16.3 billion this year, or 3.8% […]
IT-BPO group wants more support from next administration
THE next administration should provide additional support and address issues to sustain the growth of the local information technology and business process outsourcing (IT-BPO) industry, according to the IT and Business Process Association of the Philippines (IBPAP). IBPAP President Jack Madrid said the next administration should further strengthen the digital infrastructure of the Philippines to […]
2 cities start vaccination of kids aged 5-11 next week
TWO highly urbanized cities in Cebu will start vaccinating children ages five to 11 years old next week.Lawyer John Eddu Ibañez, executive secretary of Mandaue City Mayor Jonas Cor…
Volatile market seen ahead of holiday break
TRADING is expected to be volatile on the last trading week of the year as investors may spend the holiday break planning their market strategies, while government spending may improve market sentiments. The bellwether Philippine Stock Exchange index (PSEi) dropped by 66.19 points or 0.91% to 7,181.86 on Friday, while the broader all shares index […]
Consumers expected to show ‘moderation in spending’ over the next three months
Mitsubishi UFJ targets Asia unicorns with debt-finance fund
Mitsubishi UFJ Financial Group Inc. is preparing to launch a fund that provides debt financing to Asian startups in an effort to win investment-banking business through subsequent initial public offerings. Japan’s largest lender will start a $300 million fund early next year after upsizing its first joint-venture fund earlier this year, Chief Executive Officer Hironori Kamezawa said […]
Indonesian pay hikes expected to normalize
SALARY increases in Indonesia are on track to rebound to pre-pandemic levels next year as the economy recovers and employers beef up their workforce, a new survey showed. Median pay hikes in Southeast Asia’s largest economy are forecast to hit 6.5% in 2022, well above the 5.3% registered this year, but still slightly under the […]
PHL recovery could lag Asia’s because of election spending ban
ELECTION-RELATED government spending restrictions could prove to be a drag on economic expansion next year, bucking the trend in emerging Asia, Pantheon Macroeconomics said in a report. Pantheon Senior Asia Economist Miguel Chanco said the Philippines is the only economy in which it expects growth to slow down next year, which would force the central […]
BSP may start hiking cycle next year
By Jenina P. Ibañez, Senior Reporter INVESTOR pressures would likely challenge the Philippine central bank’s accommodative stance next year amid monetary tightening by its counterparts across the globe, Fitch Solutions Country Risk & Research said. In a report, Fitch Solutions on Friday said it expects the US Federal Reserve to raise key interest rates by 50 basis points next year, potentially putting pressure on the Philippines to follow suit. “This […]
BSP revises current account, BOP forecasts as global economy rebounds
MANILA – The Philippine central bank on Friday released revised projections for the current account and balance of payments this year and for 2022, reflecting it said the global economy’s recovery as well as lingering pandemic-related risks. The Bangko Sentral ng Pilipinas (BSP) now expects the country’s current account this year to post a deficit of $4 […]