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Monthly Archives: June 2019

HSBC: Policy rate cuts unlikely at BSP meeting

By MAYVELIN U. CARABALLO, TMT June 18, 2019 THE country’s monetary authorities are likely to pause on reducing interest rates at their upcoming meeting on Thursday, according to HSBC. In a recent report, the banking giant’s Global Economic Team said it expected “the Bangko Sentral ng Pilipinas (BSP) to keep …

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OFW remittances hit $10.8B in Jan-April

By MAYVELIN U. CARABALLO, TMT June 18, 2019 MONEY sent home by overseas Filipino workers (OFWs) reached $10.811 billion in the first four months of 2019, a 3.7-percent increase from $10.426 billion in the same period last year, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. For April alone, …

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Standards for electric vehicles in the making

By ANNA LEAH E. GONZALES June 19, 2019 The government and the private sector are crafting the complete set of standards for electric vehicles (EVs) in the country, the Electric Vehicle Association of the Philippines (EVAP) said. To be covered by the standards are parts, components, testing parameters and procedures …

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NEA: PH households with power up to 13M

By JORDEENE B. LAGARE June 19, 2019 THE number of Filipino households with electricity has reached a record 13 million, the National Electrification Administration (NEA) reported. This means an average of 275,238 new connections or a 2-percent increase were registered every six months, NEA said in statement on Tuesday. The …

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Private investments eyed for clean energy projects

By JORDEENE B. LAGARE June 19, 2019 A partnership for more investments in clean energy projects across Asia Pacific has been forged by the Asian Development Bank (ADB) and the United States Agency for International Development (Usaid). ADB’s director general for Strategy, Policy, and Review Department Tomoyuki Kimura and USAID …

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Tan daughter takes over PAL

By LISBET K. ESMAEL June 19, 2019 A DAY after it was first reported, flag carrier Philippines Airlines (PAL) confirmed on Tuesday that its President and Chief Operating Officer Jaime J. Bautista was retiring and that Executive Vice President Vivienne K. Tan would replace him as officer in charge. In …

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M&A review period shortened

By TYRONE JASPER C. PIAD June 19, 2019 PCC: Move to foster ‘conducive’ environment for doing business in the country THE review period for qualified mergers and acquisitions (M&A) would now last 15 working days in line with the government’s efforts to make doing business in the country easier, the …

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LGUs’ share from tobacco taxes hits P15.8B

By MAYVELIN U. CARABALLO, TMT June 19, 2019 TOBACCO-PRODUCING local government units’ (LGU) shares from 2016 collections of excise taxes on tobacco reached more than P15 billion, according to the Department of Budget and Management (DBM) In a memorandum signed on June 14, DBM Officer-in-Charge Janet Abuel said the fund …

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