Officially a recession: PH GDP shrank 16.5% in Q2
A general view of the skyline of the financial district of Makati. (AFP) MANILA, Philippines–The Philippine economy contracted by a record 16.5 percent during the second quarter — at the…
Wall Street keeps rallying; S&P 500 back within 2% of record
NEW YORK — Wall Street’s big rally keeps rolling, and the S&P 500 rose for a fourth straight day Wednesday to sit just 1.7% below its record. Cloud computing company…
Inflation hits 6-month high | Inquirer Business
The lack of public transportation while more Filipinos returned to work during the gradual easing of the lockdown pushed transport costs higher for the second straight month in July, pushing…
Liberalized retail trade still gov’t priority
The Department of Trade and Industry (DTI) wants to make it easier for foreign businesses to set up shop here, easing their burden at a time when the health crisis…
MECQ finally calms market, but grim growth data lurks
The benchmark Philippine Stock Exchange Index (PSEi) gained on Wednesday as investors digested a slew of earnings reports and ahead of the government’s disclosure of the second quarter economic data.…
2 San Miguel projects get toll road status
Conglomerate San Miguel Corp. (SMC) won the Philippine government’s recognition for two proposed expressway projects—including an elevated road from Manila to Rizal province over the Pasig River—that will stretch hundreds…
Agriculture posted growth in 2nd quarter
Despite disruptions in the country’s food supply chain caused by lockdown measures aimed at preventing the spread of COVID-19, the agriculture sector was still able to register a 0.5-percent growth…
Cell tower applications pending beyond 7 days deemed approved
The Anti-Red Tape Authority (Arta) said the pending applications of Globe Telecom and Smart Communications—as well as those of cell tower companies—are automatically approved if they have been left pending…
EastWest Bank’s H1 profit up 65%
Gotianun-led EastWest Bank grew its first semester net profit by 65 percent year-on-year to P4.5 billion as earnings from core lending and securities trading accelerated at a double-digit pace. This…
San Miguel F&B’s H1 profit down 50%
San Miguel Brewery has been producing beer for the last 126 years Consumer giant San Miguel Food and Beverage (SMFB) saw a 50-percent year-on-year drop in first semester net profit…