Top News

By Luis Leoncio  Some P279.3 billion that the national government (NG) advanced to the Bangko Sentral ng Pilipinas (BSP) after it was created in 1993 to pay off debts of the old Central Bank (CB) was disbursed against the law, tantamount to “unauthorized use of funds,” according to a 2014 Commission on Audit (CoA) report on the Bureau of Treasury …

The Manila Electric Co. (Meralco) is venturing into hydroelectric power through a partnership with Repower Energy Development Corp. (REDC), starting with projects worth P18.8 billion. 

The rivalry in the already tight telecommunications market is expected to become fierce, as a third player—after giants Philippine Long Distance Co. and Globe Telecom—is expected to join the fray soon. 

Speaker Feliciano Belmonte Jr. said the country’s macroeconomic environment, one of the 12 major pillars of the competitiveness report, has improved by 44 ranks from 68th to 24th. He also reported that Congress enacted “game-changing” laws to bolster competitiveness of the economy and sustain economic growth that made the nation one of the best performers among the emerging economies. The …

London-based Barclays does not see the need for the Bangko Sentral ng Pilipinas (BSP) to raise rates until the second quarter of 2017 because of the stable economy and low inflation rate. 

By Luis Leoncio  The Philippines has the potential of becoming a $1-trillion economy, from the current $200 billion, to rank among the world’s 20 biggest economies in 2030, if it can maintain its economic momentum, the Washington-based think tank and credit watchdog IHS Global Insight said. 

More than 3 percent of the country’s economic output each year become illicit funds, based on a study conducted by the Washington DC-based Global Financial Integrity (GFI). 

A noted economist pronounced grim prospects for the economy next year, with exports receipts continuing to fall and El Niño feared to vastly reduce agricultural output.

Consumers remain generally pessimistic, but the negative views are subsiding with the confidence index (CI) in a Bangko Sentral ng Pilipinas (BSP) Consumer Expectation Survey (CES) improving in the final quarter to a net negative 8.1 percent from a net negative 11.6 percent a year ago. 

By Riza Lozada Manila Water has haled the government to an international court to demand reimbursement for expected losses computed at P79 billion, as a result of the government’s violation of the terms of its contract.