LOS ANGELES — Lady Gaga on Wednesday led a list of People magazine’s best-dressed celebrities that included Euphoria star Zendaya and Oscar-winning actress Viola Davis. Gaga was dubbed “The Icon” in People’s best dressed of the year issue, despite never having set foot on a red carpet. Instead, the magazine praised her high fashion street […]
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Customs collects nearly P11.7 billion in rice tariffs
THE BUREAU of Customs (BoC) has collected P11.69 billion worth of tariffs from 1.74 million metric tons (MT) of rice imports in the eight months to August, exceeding its fund-raising target for the rice modernization fund, though collections have fallen year on year due to lower import volumes. The Finance department said Sunday that collections […]
1.9M students ‘return’ to school
THE classes for school year 2021-2022 in public basic education schools in the Philippines officially start Monday, Sept. 13, 2021 amid the Covid-19 pandemic, with nearly two million students in Central Visayas enrolled two days before the opening of classes. Some private schools in the region started ahead of Sept. 13. Department of Education (DepEd) […]
June FDI bounces back
By Beatrice M. Laforga, Reporter Foreign direct investments (FDI) rebounded in June on base effects and an improving economic landscape, according to the latest central bank data. FDI net inflows surged by 60.4% to $833 million from a year earlier, based on preliminary data from the Bangko Sentral ng Pilipinas (BSP). The net inflows nearly doubled from $433 million a month earlier. This pushed first-half FDI net inflows higher by 40.7% […]
ARTA presses ERC to act on petition to nullify FiT hike
THE Anti-Red Tape Authority (ARTA) issued notice to the Energy Regulatory Commission (ERC) of an eight-months-delayed Laban Konsyumer, Inc. (LKI) petition to nullify feed-in tariff (FiT) increases. The LKI petition sought the withdrawal of an ERC resolution last year clearing the way for an increase in the FiT, a fixed payment to renewable energy developers […]
Ayala Land edges lower on MSCI rebalancing, lockdown extension
AYALA Land, Inc. (ALI) dipped last week after the rebalancing of the MSCI index and news of extended lockdowns, but analysts say the stock remains attractive to market players. The property firm was the sixth most actively traded stock last week with a total of 41.17 million shares worth P1.38 billion traded from Aug. 31 […]
DepEd 7 needs 600,000 more enrollees to hit target for school year 2021-2022
MERELY 10 days before the school year 2021-2022 starts, enrollment for private and public basic education institutions in Central Visayas is only about 1.4 million. This is at least 600,000 short of the two million enrollment target of the Department of Education (DepEd) 7 for the incoming school year. DepEd 7 Director Salustiano Jimenez said […]
New pandemic measures seen helping rebound build momentum
THE ECONOMY has the potential to post a solid rebound next year if the government can effectively implement its “more integrated approach” to managing the pandemic, Moody’s Analytics said. It cited new strategies such as increased vaccine procurement and distribution and focused, “granular” lockdowns instead of a broader quarantine declared over larger areas, it said. […]
Mazda Production and Sales Results for July 2021
TOKYO, Aug 30, 2021 – (JCN Newswire via SEAPRWire.com) – Mazda Motor Corporation’s production and sales results for July 2021 are summarized below. I. Production 1. Domestic ProductionMazda’s domestic production volume in July 2021 decreased 19.3% year on year due to decreased production of passenger and commercial vehicles. [Domestic production of key models in July […]
ECB out-doving US Fed to boost euro’s allure
JACKSON HOLE sharpened the contrast between a Federal Reserve telegraphing an end to stimulus and a dovish European Central Bank (ECB). For the euro, that means its status as a preferred funding currency just got a boost. The discount on the overnight rate to borrow the common currency instead of dollars rose earlier this month […]
HTSC Posts Record First-half Turnover and Profit in 2021
HONG KONG, Aug 27, 2021 – (ACN Newswire via SEAPRWire.com) – HTSC (stock code: 6886.HK; “the Company”) announced its interim results for the six months ended June 30, 2021. The Company achieved RMB 24.62 billion in total revenue and other gains with a year-on-year increase of 29.75%. Profit for the period attributable to shareholders increased […]
LGU-generated revenue hit P169B in Q2, IRA dependence still high
REVENUE generated by local government units (LGUs) in the second quarter rose 5% from a year earlier to P168.96 billion, leaving their share of National Government revenue as their largest source of income, the Department of Finance (DoF) said. Citing data from the Bureau of Local Government Finance (BLGF), the DoF said in a statement […]
Infrastructure seen key to preserving momentum amid weak consumption
INFRASTRUCTURE SPENDING holds the potential to support an economic recovery via job creation, with the consumption component that the economy traditionally depends on remaining weak, Maybank Investment Bank Economist Zamros Dzulkifli said. “If the government could push for infrastructure spending this year, we can expect the share of expenditure to keep rising and support the […]
AllHome’s profit surges to P297M as activities resume
ALLHOME Corp. said in a statement that its net income after tax surged to P297 million in the second quarter after the government allowed the resumption of economic activities, resulting in its stores operating on shortened hours. The figure surged by nearly 54 times from its P5-million after-tax net income recorded in the same period […]
Shares climb on Q2 GDP data, earnings reports
PHILIPPINE shares closed higher on Wednesday as investors priced in the country’s faster-than-expected gross domestic product (GDP) growth in the second quarter. The Philippine Stock Exchange index (PSEi) gained 43.63 points or 0.65% to close at 6,666.86 on Wednesday, while the all shares index improved by 15.63 points or 0.38% to end at 4,111.61. “GDP […]
Trade gap shrinks to smallest in 3 months
The country’s trade-in-goods deficit in June shrank to its smallest amount in three months, although this did not prevent the year-to-date shortfall from surging faster than in the previous year, the Philippine Statistics Authority (PSA) reported on Friday. Preliminary PSA data showed merchandise exports during the month expanded by 17.6% year on year to $6.51 […]
Philippine manufacturing production rises for third month in a row
The country’s factory output sustained its rebound for the third straight month in June, the Philippine Statistics Authority (PSA) reported on Friday. Preliminary results from the PSA’s latest Monthly Integrated Survey of Selected Industries showed the volume of production index surging by 453.1% year on year in June, faster than the revised 263.2% annual growth […]
D&L says Batangas plant to start May 2022
D&L Industries, Inc. will delay the earliest start of commercial operations (SCO) for its Batangas plant to May 2022 after its subsidiary was granted an extension by the Philippine Economic Zone Authority (PEZA). “Our existing capacity is still sufficient to serve requirements in the near term, as such the extension in the SCO should have […]
CNPF books P1.4-B income in second quarter
PROCESSED food maker Century Pacific Food, Inc. (CNPF) earned a total comprehensive income of P1.43 billion in the second quarter, nearly 19% higher than the P1.21-billion income logged year on year. The listed company, which manufacture and distributes processed marine, meat, milk, and coconut products, saw its topline for the quarter go up by 4.7% […]
Metrobank Q2 profit lifted by fees, lower cost
PROFIT at Metropolitan Bank & Trust Co. (Metrobank) rose by 29.9% from a year earlier to P3.9 billion in the second quarter on higher fee-based income and reduced operational costs. This brought its first-half net income to P11.687 billion, 28% higher than a year earlier, the lender said in a stock exchange filing on Tuesday. […]