European economies on course for unprecedented recession
A man walks along an empty street in downtown Barcelona, Spain, Monday, April 20, 2020, as the lockdown to combat the spread of coronavirus continues. (AP Photo/Emilio Morenatti) LONDON —…
DBM orders belt-tightening to preserve funds for COVID-19 fight
To ensure that the government won’t run short of funds to fight COVID-19, the Department of Budget and Management (DBM) has ordered agencies to tighten their belts and defer non-essential…
UK think tank: PH infra growth ‘slow’ as DPWH, DOTr can’t fully spend budgets
The Philippines stood to gain much from its ambitious infrastructure spending spree but rollout of projects so far had been “slow” as implementing agencies struggled to spend bigger budgets, UK-based…
Target of WB’s $100M COVID-19 loan to PH: Save 16,700 lives
The World Bank (WB) has given the green light to a $100 million loan for the Philippine Department of Health’s (DOH) COVID-19 Emergency Response Project which seeks to acquire more…
PH banks free to assume more dollar risk under new BSP rules
The central bank has eased a rule that had required financial institutions to keep a 100-percent buffer of assets for their foreign currency liabilities on a daily basis, saying that…
NEDA dangling tax-free perks for 6 development projects
MANILA, Philippines – The state planning agency National Economic and Development Authority (Neda) is dangling tax incentives to private individuals and firms that will donate money to six programs under…
S. Korean testing kit maker Solgent gears up for IPO
(Yonhap) via The Korea Herald SEOUL — South Korean genetic technology firm Solgent has picked local brokerage Mirae Asset Daewoo as an underwriter for its initial public offering, buoyed by…
S. Korean economy shrinks 1.4% in Q1 amid virus fallout, sharpest contraction since 2008
SEOUL — South Korea’s economy shrank 1.4 percent on-quarter in the first quarter of this year, as the coronavirus pandemic crippled industrial output, consumer spending and job markets, the Bank…
Andrew Tan group’s COVID-19 donation hits P603M
The group of property tycoon Andrew Tan’s COVID-19 relief fund mobilization has breached the P600-million milestone since the whole of Luzon was locked down to curb the pandemic in mid-March.…
BPI’s Q1 net profit down 5% on higher loan loss buffer
BPI prexy Cezar Consing Higher provisioning for probable credit losses amid the COVID-19 pandemic trimmed Bank of the Philippine Islands (BPI)’s first quarter net profit by 5 percent year-on-year to…