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Government to pitch Clark as new aviation hub

Led by the Department of Transportation (DOTr), the Philippine delegation will hold a series of talks with aviation investors from around the globe beginning today, Feb. 20, at the Singapore Airshow 2024. (STAR / File)  MANILA, Philippines — The Philippines will pitch Clark International Airport as the next Asian hub …

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PEZA approves P12-B investments in first 2 months of 2024

The Philippine Economic Zone Authority (PEZA) recorded P12.1 billion investments in the first two months of 2024, which is 19 percent higher than P10.2 billion logged in the same period last year. In January and February, the agency approved P2.21 billion and P10.9 billion investments respectively. “The significant upswing in …

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Nintendo shares dive on new Switch delay report

An employee wearing a face mask stands next to a screen displaying characters from the Nintendo video game Super Mario at a store for Japanese games giant Nintendo in Tokyo on February 3, 2022. Nintendo and Sony have a lot riding on two new releases on October 20, 2023, “Marvel’s …

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Flagship Ayala companies on tight budget this year

The Ayala Group will reduce its capex guidance by around 10 percent in 2024, from P264 billion in 2023, marking the second consecutive year it will reduce its consolidated budget.  MANILA, Philippines — The Ayala Group is slashing its capital expenditures for the second year in a row, as its …

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Analysts remain bullish on Philippine stocks this week

Analysts remain bullish on Philippine Stock Exchange trading this week despite the selling pressures as the benchmark index attempts to reach the 7,000 level.  Philstocks Financial Inc. research head Japeth Tantiangco said while the index rallied for four straight weeks, leaving the market susceptible to profit-taking, investors would look for …

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PCCI: P100 wage hike to hurt SMEs

Small enterprises are establishments with a total workforce of 10 to 99, while medium enterprises employ 100 to 199 workers, according to the Philippine Statistics Authority. (STAR / File)  MANILA, Philippines — The proposed P100 daily minimum wage increase for private sector workers may hurt small and medium enterprise (SMEs) …

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BSP unlikely to cut key rate ahead of the Fed

To avoid FX volatility The Monetary Board, the central bank’s policy-making arm, is not expected to reduce its benchmark rate ahead of the US Federal Reserve as this might lead to sharp exchange rate fluctuations, according to analysts. “We don’t think the BSP (Bangko Sentral ng Pilipinas) would be able …

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Ontario electronics retailer Factory Direct to liquidate stores

Court documents show the discount electronics and home goods retailer wanted to close its 14 stores in the province because it has found the business is “no longer viable.” Discount retailer says business is ‘no longer viable.’ An Ontario court has given Factory Direct permission to liquidate its stores as …

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