The government expects to finish 29 flagship infrastructure projects worth P238.48 billion before President Rodrigo R. Duterte’s term ends in 2022. It has added 13 more projects for a total of 119 projects worth P4.73 trillion, presidential adviser for flagship infrastructure projects Vivencio B. Dizon told a televised news briefing on Friday. The National Economic and Development Authority (NEDA) has ...
The Philippine central bank raised its balance of payment (BoP) projection for this year on expectations of an improved economic landscape here and overseas. It now expects the payment position to post a $7.1 billion surplus by year-end, which is lower than the $16-billion surplus last year but higher than the $6.2-billion surplus projection made in March. “The better-than-expected global ...
The Philippine central bank raised P100 billion from its auction of short-term securities on Friday even as rates rose on hints by the US central bank of a looming interest rate increase in 2023. The Bangko Sentral ng Pilipinas (BSP) fully awarded the 28-day bills from total bids worth P140.525 billion. The auction was 1.4 times oversubscribed, but the demand ...
The country’s outstanding foreign debt fell by 1.5% or $1.4 billion to $97 billion at the end of March from end-December, after the National Government redeemed maturing bonds and local banks settled their obligations, according to the Philippine central bank. Year-on-year, the country’s debt stock rose by $15.6 billion after borrowings worth $13.5 billion by the government and private nonbanks, ...
The Department of Health (DoH) reported 6,833 coronavirus infections on Friday, bringing the total to 1.35 million. The death toll rose by 110 to 23,385, while recoveries improved by 3,441 to 1.26 million, it said in a bulletin. There were 61,776 active cases, 1.2% of which were critical, 92.2% were mild, 3.7% did not show symptoms, 1.7% were severe and ...
The Supreme Court (SC) on Friday released an order amending its rules to unclog case dockets and speed up the judicial system. Under the order dated May 4, the fully court will now act only on administrative cases penalized with more than two years of suspension or a fine of more than P100,000. It used to hear cases involving a ...
The Justice department has approved the request of the imprisoned wife and son of a farmer who had been a political prisoner for 16 years and who died of cardiac arrest on Sunday to attend his wake on Friday. In a statement, Fides Lim, spokesperson of Kapatid, a support group for families and friends of political prisoners, asked the government ...
The Philippine Stock Exchange (PSE) suspended the trading of PAL Holdings, Inc. shares beginning Friday after the exchange noted a disclaimer of opinion of the company’s independent auditor on the listed company’s annual report. “We do not express an opinion on the accompanying consolidated financial statements,” SyCip, Gorres, Velayo & Co. said in the company’s annual report, which was disclosed ...
NEGROS ISLAND Biomass Holdings Inc. has forged binding agreements to divest its shareholdings in three biomass-fired power plants in the Visayas, its part owner Ayala-led AC Energy Corp. said on Friday. In a stock exchange disclosure, AC Energy said Negros Island Biomass will sell its equity stake to Singapore-based ThomasLloyd CTI Asia Holdings Pte. Ltd., subject to certain conditions. As ...
Transportation Secretary Arthur P. Tugade said Friday San Miguel Corp. has been quietly working on the P735-billion New Manila International Airport project in Bulacan. “Kailan magagawa ang groundbreaking, gustong gusto ko rin itulak ‘yan pero mahalaga na alam natin na may ginagawa ang San Miguel at si Ramon Ang,” Mr. Tugade said at a televised press briefing. (As for when ...