Manila Water posted consolidated earnings of ₱3.7 billion for 2021, 18% lower than the previous year as the full-year effect of the COVID-19 pandemic impacted customer demand and business operations, even as domestic and international operations outside the East Zone Concession showed improved performance. Despite the challenges, including an ongoing tariff freeze, the Company pushed through with its projects to …
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The Land Bank of the Philippines (LANDBANK) and the Technical Education and Skills Development Authority (TESDA) renewed their partnership program to finance the livelihood needs of Technical Vocational Education and Training (TVET) graduates. Initiated in 2019, the LANDBANK-TESDA partnership program was extended through a virtual signing of a Memorandum of Agreement (MOA) led by TESDA Director-General Secretary Isidro S. Lapeña …
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Subic Bay International Terminals (SBITC) has been included to the rotation of Mediterranean Shipping Company’s expanded Seahorse Service, providing industries in northern and central Luzon with a reliable link to global markets – especially Europe and the United States. Industries including agriculture, automotive, electronics, construction and garments can take advantage of the service’s connection to major transshipment hubs like Singapore, …
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The Land Bank of the Philippines (LANDBANK) has released P933.9 million in interest-free loans to small farmers and fishers affected by the COVID-19 health pandemic, as of 31 December 2021. Through the Expanded SURE Aid and Recovery Project (SURE Aid COVID-19), LANDBANK has delivered loan assistance to a total of 37,637 beneficiaries, utilizing 93.4% of the total P1-billion Program fund. …
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The Land Bank of the Philippines (LANDBANK) approved loans amounting to P2.11 billion in loans from January to December 2021 to assist 78 public transport operators purchase 810 brand-new and modern public utility jeepneys (PUJs). The loans were approved under the LANDBANK SPEED-PUV (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles) Loan Program, which are 177% higher than the …
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Sharp rise in the prices of oil and food will be experienced by various Asian economies due to the Ukraine-Russia war, with the Philippines expected to be badly hit, according to the Japan-based global investment firm Nomura. “Although ongoing geopolitical tensions between Russia-Ukraine can hurt Asia through multiple channels, such as tighter global financial conditions, elevated uncertainty and the risk …
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Finance Secretary Carlos Dominguez III is luring American businessmen to invest in Philippine mass media and telecoms as soon as foreign restrictions are dismantled by an antiquated law’s amendment which is awaiting the President’s signature. Dominguez told an online economic briefing hosted by the Philippine Embassy in Washington, DC, that the amendments pushed by the economic team in the antiquated …
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The stock market spiraled down after Russia invaded Ukraine, sending jitters to investors even as war loomed for weeks. Philstocks Financial analyst Japhet Tantiangco said the local bourse plunged as it joined its regional peers in negative territory amid the war between Russia and Ukraine. “The local market tanked after Russian President Valdimir Putin announced that he is launching a …
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The Philippines signed a €30-million (about 1.71 billion) worth of financing agreements with the European Union (EU) for two new programs to boost the country’s disaster preparedness and improve Bangsamoro region’s local agricultural production and investment climate. Finance Secretary Carlos G. Dominguez III and EU Ambassador Luc Véron exchanged the signed financing agreements that will support the “National Copernicus Capacity …
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The government is pushing for more innovative solutions to deal with rising oil prices, while expecting the Ukraine-Russia conflict to put further pressure on the commodity’s global costs. The National Economic and Development Authority (NEDA) said oil supply and prices are out of the hands of the Philippines being a net importer of the commodity. Brent crude, the basis for …
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The Market Monitor Minding the Nation's Business