EQS Newswire / 09/02/2023 / 01:56 EST/EDT Elektros Announces Agreement with Next Realm AI as Potential Data Advisory Firm for EV Operations SUNNY ISLES BEACH, FL / ACCESSWIRE / February 8, 2023 / Elektros (OTC PINK:ELEK), an emerging leader in the electric mobility industry, announced it has signed a Memorandum of Understanding (MOU) with Next […]
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New campus opens in Cebu, offers niche, industry-demand courses
A MAKATI-BASED technology and design school has opened its newest campus in Cebu to offer specialized programs that meet industry demands. iACADEMY Cebu is located at the fifth floor of Filinvest Cebu Cyberzone Tower 2, Salinas Drive corner W. Geonzon St., Barangay Lahug, Cebu City. The school, known for its strong industry partnership that delivers […]
Stocks to move sideways as year comes to a close
PHILIPPINE STOCKS may move sideways in the last trading week of the year as investors price in economic concerns that may linger in 2023. The bellwether Philippine Stock Exchange index (PSEi) declined by 35.91 points or 0.54% to close at 6,541.03 on Friday, while the broader all shares index lost 9.79 points or 0.28% to […]
BSP raises rates by 50 bps, signals more tightening
THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday raised its benchmark interest rate to its highest in 14 years, and signaled more tightening albeit at a slower pace. The Monetary Board (MB) increased its overnight borrowing rate by 50 basis points (bps) to 5.5%, as predicted by 13 of 15 analysts in a BusinessWorld poll […]
Consumers more pessimistic in Q4 — BSP
CONSUMER and business sentiment declined in the fourth quarter due to elevated prices of goods, higher interest rates, and a weakening of the peso, according to the Philippine central bank. The Bangko Sentral ng Pilipinas (BSP) on Friday said the consumer confidence index slipped to -14.6% from -12.9% in the third quarter, its 10th straight […]
Medalla flags more rate hikes to tame inflation — Bloomberg TV
Bangko Sentral ng Pilipinas (BSP) will likely have to continue raising rates at its next two meetings to ensure inflation returns to within its 2-4% target range next year, its governor said on Friday. BSP Governor Felipe M. Medalla said the likelihood that the central bank will not increase its policy rates at its next […]
Energy storage regulations expected next year
THE Energy Regulatory Commission (ERC) said it hopes to release a regulatory framework for emerging energy technologies like storage next year. “By the first quarter of 2023, we are hoping we can do the framework for the energy storage system (ESS),” ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta told reporters on the sidelines […]
ECB to raise deposit rate by 50 bps on Dec 15 as bloc enters winter recession
LONDON – The European Central Bank will take its deposit rate up by 50 basis points next week to 2.00%, despite the euro zone economy almost certainly being in recession, as it battles inflation running at five times its target, a Reuters poll found. Since starting its inflation-fighting campaign in July, later than its peers, the ECB has been raising rates at its fastest pace on record and […]
D.M. Consunji’s order book down 8% as projects ease
D.M. CONSUNJI, Inc.’s (DMCI) order book declined by 8.1% to P45.3 billion for the past three quarters from P49.3 billion in the same period last year amid a slowdown in project bidding and contract awarding. In a press release on Thursday, its parent firm DMCI Holdings, Inc. said the “moderate” decrease was recorded for both […]
MUFG says Philippine growth upside has moved beyond base effects
THE Philippine economy has moved beyond the stage where any growth upside is due to base effects, Japan’s MUFG Bank said on Wednesday, as it upgraded its 2022 forecast for gross domestic product (GDP) to between 7.5% and 8%, following a stronger-than-expected performance in the first nine months. MUFG Senior Currency Analyst Jeff Ng said […]
LIV Golf vows next year will be bigger and better
LIV Golf crowned a first team champion to bring the controversial Saudi-backed series to a close at Trump National Doral on Sunday, declaring the inaugural season a huge success and vowing to come back bigger and better next year. The 4 Aces captained by Dustin Johnson collected the winner’s prize splitting $16 million, which was […]
IMF cuts Asia’s economic forecasts as China’s slowdown bites
TOKYO — The International Monetary Fund (IMF) cut Asia’s economic forecasts on Friday as global monetary tightening, rising inflation blamed on the war in Ukraine, and China’s sharp slowdown dampened the region’s recovery prospects. While inflation in Asia remains subdued compared with other regions, most central banks must continue raising interest rates to ensure inflation […]
Affluent splash out on pricey Birkin bags but clouds loom
PARIS — Brushing off higher prices, affluent spenders continue to splash out on luxuries including $10,000 handbags and premium drinks, updates from Birkin bag maker Hermes and spirits company Pernod Ricard showed on Thursday. Yet with prices set to rise further, analysts were asking how long the boom can last before even the wealthy decide […]
The Next Vision Capital Announces an Investment from IDG Capital Blockchain
Hanoi, Vietnam, October 17, 2022 – (SEAPRWire) – Recently, the Next Vision Capital, a digital financial platform offering packages to SMEs, is proud to announce an Investment from IDG Capital Blockchain (IDGCB). IDG Capital Blockchain currently manages 40 million dollars and has been investing in over 30 companies under various sectors. Having found the potential of Next Vision Capital (NVC) in […]
Gov’t extends WFH setup for IT-BPM workers until further notice
FINANCE Secretary and Fiscal Incentives Review Board (FIRB) Chairperson Benjamin Diokno on Friday issued a memorandum provisionally extending the existing work-from-home (WFH) arrangement for the information technology and business process management (IT-BPM) companies.Diokno has deemed it necessary to retain the 70 percent on-site and 30 percent WFH arrangement, pursuant to FIRB Resolution 017-22, until the […]
Next Block Expo Event Embraces Compliance with Blockpass
HONG KONG, Sep 9, 2022 – (ACN Newswire via SEAPRWire.com) – On-Chain KYC(TM) provider Blockpass is excited to announce a partnership with Next Block Expo, one of the biggest industry events in Europe. This new partnership will see Blockpass CEO Adam Vaziri speaking at the Next Block Expo event in Berlin on November 23rd and […]
EJ Obiena beats Chris Nielsen to rule Jockgrim event in Germany
IN THE absence of the world’s top pole-vaulter Armand Duplantis, World Championship bronze medalist EJ Obiena was given the chance to best his next best rival — World No. 2 Chris Nilsen of the United States. EJ Obiena, the World No. 3 and Asian record-holder did that with flying colors as he blew away the […]
Gov’t ‘working on’ sovereign rating upgrade, Diokno says
THE Philippines’ credit rating is not expected to worsen, with officials presenting the case to the rating agencies for an upgrade because of the attainability of the country’s growth targets, the Department of Finance (DoF) said in a statement on Wednesday. The DoF was quoting remarks delivered on Aug. 10 by Finance Secretary Benjamin E. […]
BSP ready to act as inflation seen below 4% in 2023
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% […]
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 […]