With the peso now stabilizing against the United States dollar, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said recently they can now focus on further addressing the elevated inflation rate, which is expected to return to within-target levels by October 2023. In his speech during the Chamber of Thrift Banks (CTB) general membership meeting in Makati, Medalla said monetary authorities …
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The Green Climate Fund (GCF) Board approved recently the Adapting Philippine Agriculture to Climate Change (APA) Project during its 35th Board Meeting in Incheon, South Korea. The total project cost amounts to USD 39.2 million, financed by the GCF through a grant of USD 26.3 million and Philippine government co-financing of USD 12.9 million. The Department of Finance (DOF) serves …
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By Robert Andaya The Philippine Sports Commission (PSC) joined the nationwide celebration for “Women’s Month” this March by paying tribute to outstanding female achievers in the wonderful world of sports. Fittingly, one of those honored by the PSC was Elma Muros-Posadas, who earned the moniker “Iron Woman” for being the country’s undisputed long jump queen for nearly 40 years now …
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East Zone concessionaire Manila Water has recorded a significant increase in its new water connections since the pandemic, as it expands its total water service connections to 1,150,297 from August 1997 to December 2022. In 2022 alone, Manila Water has installed 33,909 new water service connections which is 56% higher than the 21,680 new water service connections in 2021. With …
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Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro Tengco disclosed the new management’s plans to focus more on PAGCOR’s regulatory role, expand the agency’s reach and contribute more to nation-building. During the opening of the ASEAN Gaming Summit in Marriott Manila on March 21, 2023, where Tengco was keynote speaker, the PAGCOR chief explained that under his term, …
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Lemery, Batangas – Two medical and dental missions were conducted by SM Foundation in Batangas boosting the number of beneficiaries to the SM groups’ CSR program for health and wellness. At the SM Center Lemery 396 patients from nearby barangays availed of 607 medical and dental services. Of this number, 325 sought medical consultations from volunteer doctors. The patients were …
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Ilagan City bet Aira Teodisio captures the gold medal in the recently-concluded ICTSI Philippine Athletics Championships after ruling the open women’s discus throw event at the Ilagan City Sports Complex. REYMUNDO G. NILLAMA
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Good news! Thailand Week is coming back again for those who miss the high-quality products and the culture of the land of smiles. Organized by the Department of International Trade Promotion (DITP), Ministry of Commerce in Thailand by the Thai Trade Center in Manila, “Thailand Week” has been the largest Thai product tradeshow in the Philippines for more than a …
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Bureau of Internal Revenue Commissioner Romeo Lumagui, Jr. led the filing of criminal complaints before the Department of Justice against four “ghost” corporations causing the government to lose an estimated P25.5 billion of taxes. They are in violation of Sections 254, 255, and 267 of the National Internal Revenue Code of 1997, as amended (Tax Code). “We are just getting …
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The Securities and Exchange Commission (SEC) has successfully prosecuted a falsification case against officers, directors, and shareholders of a lending company who were found to have submitted falsified documents for registration with the Commission. In a decision dated March 8, 2023, the Pasay Metropolitan Trial Court Branch 47 found nine incorporators and officials of Phil86 Gurunanak Lending and Trading Corp. …
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The Market Monitor Minding the Nation's Business