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BPI eyes return to debt markets in 1st half
Bank of the Philippine Islands is looking to tap the local and foreign debt markets within the first half of the year to raise funds to refinance its maturing obligations and beef up its lending portfolio......»»
Asialink loan releases jump 38% to P12.6 billion
Loans extended by Asialink Finance Corp. jumped by 38.1 percent to P12.6 billion last year from P9.12 billion in 2022, further boosting its lending portfolio......»»
Double-digit growth in bank lending seen this year
The Philippine banking sector is expected to book double-digit growth in loan disbursements this year on the back of robust economic growth, according to BMI Country Risk & Industry Research......»»
Residential electricity rates up by P0.86/kWh for May-June billing
Residential customers of Visayan Electric will experience an increase of P0.86/kWh in their May-June electricity billing. The increase is attributed to high generation rates due to price hikes in the Wholesale Electricity Spot Market (WESM) in April brought about by power supply concerns in the Visayas Grid. As a result, the overall residential electricity rate.....»»
ERC urged to defer power rate hikes
It would be best for the Energy Regulatory Commission to withhold the requests of power distributors and generating firms to collect higher electricity bills while the industry is on yellow alert due to high power demand this summer, a member of the House of Representatives said......»»
‘Bring CA ruling on power rate hikes to SC’
An official of the House of Representatives called on the Energy Regulatory Commission (ERC) to elevate to the Supreme Court (SC) a December 2023 Court of Appeals (CA) ruling that could pave the way for higher power rates to the detriment of consumers. .....»»
NFA hikes local palay procurement
State-run National Food Authority purchased over 2,000 metric tons of palay or unmilled rice in March, more than triple than what it bought in February, but remained below its procurement target......»»
DOLE assures workers of pay hike after wage review
Following President Marcos’ order for a review of minimum wage rates nationwide, the Department of Labor and Employment yesterday assured workers that pay hikes are coming soon......»»
Government hikes borrowings to P2.57 trillion for this year
The Philippines raised its 2024 borrowing program by four percent to P2.57 trillion, which could make fiscal consolidation more challenging for the government......»»
PhilHealth hikes benefit package for heatstroke
The state health insurer’s heatstroke benefit package has been raised to P8,450 from P6,500 – a 30 percent increase......»»
MPTC prefers term extension over toll hike
To recover investments on toll road improvements, Metro Pacific Tollways Corp. is leaning toward getting its concession agreements expanded instead of burdening motorists with rate hikes......»»
Singapore bank hikes Philippines inflation forecast
DBS Bank Ltd. of Singapore raised its inflation forecast for the Philippines this year to 3.7 percent from 3.3 percent previously, a development which could prompt the Bangko Sentral ng Pilipinas (BSP) to keep rates higher for longer......»»
PAL hikes capital to P30 billion
Flag carrier Philippine Airlines (PAL) has received regulatory approval to raise its capital stock to P30 billion to free up space for fresh investments from its parent unit......»»
RTB issue hikes borrowings to P420 billion in February
The government borrowed 22 percent more in February primarily due to the issuance of Retail Treasury Bonds aimed at financing state projects......»»
Remolona sees 5.9 percent GDP this year
The Philippine economy is likely to grow at a faster pace this year, but it would still be below the government’s goal of six to seven percent as rate hikes continue to constrict demand, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said......»»
Meralco cuts power rates in April
The Manila Electric Company will slash power rates in April, ending three consecutive months of rate hikes since the first quarter of 2024. .....»»
DMCI hikes capex to P59 billion this year
The DMCI Group of the Consunji family is raising its capital spending by nearly a quarter to P59.1 billion this year, with the majority of its businesses allocating higher investments to support their respective expansions......»»
AEV hikes capex to P153 billion
Aboitiz Equity Ventures Inc. is hiking its capital expenditures by 135 percent to P153 billion this year as it gears up for another phase of growth and innovation......»»
Prioritizing job creation over wage hikes urged
Creating more jobs is a better way to improve lives than the proposed P350 minimum wage increase by the House of Representatives, according to Go Negosyo founder and Private Sector Advisory Council Jobs Lead Joey Concepcion. .....»»
AboitizPower hikes stake in STEAG
Aboitiz Power Corp. has acquired an additional 15.6 percent stake in STEAG State Power Inc., boosting its equity to a majority of 85 percent......»»