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  • Inflation surges to 6.4% in August 2018, exceeds estimates

    September 5, 2018 2:15 AM 12

    The latest figure moves even further away from the government's inflation target range of only 2% to 4% MANILA, Philippines – Inflation or the increase in the prices of goods climbed to another 9-year high, hitting 6.4% in August. The latest figure, announced by the Philippine Statistics Authority (PSA) on Wednesday, September 5, was higher than July's

  • Bangko Sentral think-tank sees 5.5 to 6.2 inflation range in August

    August 31, 2018 9:01 AM 12

    MANILA - A Bangko Sentral ng Pilipinas' (BSP) think-tank on Thursday projected inflation in August to settle at around 5.9 percent or between the range of 5.5 to 6.2 percent. Higher prices of rice and key food items due to weather disturbances, supply issues, and increases in gasoline, LPG and electricity rates contributed to the upward price pressures

  • Gov't urged to address ease of doing business, corruption to attract investments

    August 31, 2018 8:30 AM 10

    MANILA - Improving the ease of doing business and addressing graft and corruption could make the country more attractive to foreign investors, the head of a European trade group said Thursday. Investment is all about trust and confidence, Guenter Taus, president of the European Chamber of Commerce in the Philippines (ECCP) told ANC. “To put in money

  • NEDA pitches roadmap for federalism shift

    August 31, 2018 8:02 AM 10

    MANILA, Philippines – The National Economic Development Authority (NEDA) made public the agency’s proposal on how to shift to a federal form of government. In a statement, NEDA proposed that the shift should be carried out in 5 phases spanning 15 years “to avoid disruption to the economy’s growth momentum.” Phase 1 – NEDA proposed that the 1st year of the transition

  • Coca-Cola buys coffee chain Costa for £3.9B

    August 31, 2018 7:26 AM 14

    'Hot beverages is one of the few remaining segments of the total beverage landscape where Coca-Cola does not have a global brand,' says Coca-Cola chief executive James Quincey LONDON, United Kingdom – Coca-Cola on Friday, August 31, said it had agreed to buy global coffee chain Costa from its UK owner Whitbread for £3.9 billion ($5.1 billion). "Hot beverages

  • Meet First Gen's visionary boss Francis Giles Puno

    August 30, 2018 11:43 AM 30

    MANILA - First Gen president and COO Francis Giles Puno believes that a leader should have a vision to drive his team to success. Puno, who heads the country's largest clean energy firm, said a leader should always think ahead. "By looking at the future, hopefully creating a vision behind that, I think that's an important aspect of being a leader," Puno said in an exclusive

  • Industry group pushes for business aviation in Philippines

    August 30, 2018 8:40 AM 9

    MANILA – Business aviation can help spur economic activity, especially in remote areas that are not served by commercial carriers, an industry group said Thursday. "When a team can get to 4 locations in a day using a business jet, that’s very productive for a company," International Business Aviation Council director general Kurt Edwards said. Officials

  • Smart to kill MMS support as 5G looms

    August 30, 2018 7:39 AM 37

    MANILA -- Smart Communications said Thursday it was ending support for multimedia messaging or MMS on Sept. 28, as it prepares to deploy 5G services. An "ageing technology," MMS has been overtaken by apps that allow users to exchange photos, video and messages for free, PLDT Inc's mobile unit said in an e-mail advisory. "On September 28, 2018, MMS will no longer

  • BSP poised for fourth rate hike this year: Fitch Solutions

    August 30, 2018 4:47 AM 14

    MANILA -- The Bangko Sentral ng Pilipinas may raise its benchmark rate by another 50 basis points with the year, with inflation expected to stay above its target range, an analyst said Thursday. A further 50-basis point hike will bring the overnight borrowing rate to 4.5 percent and will match a 50-basis point increase last Aug. 9. "The upside inflation

  • Mactan airport sets runway closure schedule for repairs

    August 29, 2018 8:09 AM 33

    MANILA - The Mactan-Cebu International Airport runway will be closed during the wee hours in the first 3 weeks of September to make way for repairs, authorities said Wednesday. The runway will be closed from Sept. 1 to 21, from 1:30 a.m. to 6:30 a.m. for overlay and repair works, the Mactan-Cebu International Airport Authority (MCIAA) said in a statement