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  • PSEi poised for rebound this year
    by BusinessWorld on February 28, 2024 at 4:34 pm

    THE LOCAL stock market is positioned for a rebound this year amid expectations of interest rate cuts and easing inflation, industry stakeholders said.

  • Legislated wage hike won’t benefit 80% of workforce — business groups
    by BusinessWorld on February 28, 2024 at 4:33 pm

    INFORMAL WORKERS, which make up around 80% of the total workforce, are unlikely to benefit from the proposed P100 national wage hike, business groups said. In a letter dated Feb. 26 to House Committee on Labor and Employment Chairperson Juan Fidel Felipe F. Nograles, four business groups led by the […]

  • Rate cuts to spur loan demand this year — UBS
    by BusinessWorld on February 28, 2024 at 4:32 pm

    THE PHILIPPINE banking industry may likely see double-digit credit growth this year on strong demand for loans amid a robust economy, better asset quality, and expectations of benchmark interest rate cuts, UBS Global Research and Evidence Lab said. Philippine credit growth may hit above 10% this […]

  • More airport, road projects added to flagship program
    by BusinessWorld on February 28, 2024 at 4:31 pm

    THE MARCOS administration has added more airport, road and climate and disaster risk-reduction projects to its infrastructure flagship program. The National Economic and Development Authority (NEDA) on Wednesday identified the 23 new projects that the NEDA Board had added to the list of […]

  • SMIC’s net income jumps 25% to P77B on higher consumer spending
    by BusinessWorld on February 28, 2024 at 4:10 pm

    SM INVESTMENTS CORP. (SMIC) announced on Wednesday a 25% increase in its net income for 2023, reaching P77 billion from P61.7 billion in 2022. The growth was primarily driven by increased consumer spending, the Sy-led conglomerate said in a statement on Wednesday. The company’s consolidated […]

  • Megaworld income up 29% to P17.3B in 2023
    by BusinessWorld on February 28, 2024 at 4:09 pm

    MEGAWORLD CORP. saw a 29% increase in its attributable net income for 2023 to P17.3 billion from P13.5 billion in 2022, propelled by improved performance across its core operations, the Tan-led property developer announced on Wednesday. The company’s consolidated revenue improved by 17% to P69.7 […]

  • Semirara Mining and Power’s profit falls 30% to P27.9B
    by BusinessWorld on February 28, 2024 at 4:08 pm

    WEAK COAL and power selling price pulled down the consolidated net income of Semirara Mining and Power Corp. (SMPC) by 30% to P27.9 billion in 2023, the company said on Wednesday. “Last year, we expected energy prices to stabilize so we focused on boosting our mine and plant outputs. Our people […]

  • Philex’s Silangan completes $170-M loan facility for Surigao project
    by BusinessWorld on February 28, 2024 at 4:07 pm

    PHILEX MINING CORP. said its subsidiary, Silangan Mindanao Mining Co., Inc., has secured an additional $70-million loan to initiate operations for its Surigao del Norte mine, slated to commence by 2025. “The signing of the agreement completes the total loan facility of $170 million needed to […]

  • Wolfgang’s opens in Gateway and Boracay
    by BusinessWorld on February 28, 2024 at 4:06 pm

    A DINNER accompanied by a string quartet was a portent of things to come at Wolfgang’s Steakhouse Grill in Quezon City’s Gateway 2. On Feb. 21, BusinessWorld sat down to dinner at Wolfgang’s along with the Hiraya Strings Quartet. The menu consisted of Skirt Steak Tacos (messy and satisfying), […]

  • Globe eyes expansion of data center capacity by 2026
    by BusinessWorld on February 28, 2024 at 4:06 pm

    GLOBE TELECOM, Inc., through its data center unit, is aiming to expand the capacity of its data centers by six times from the current 22 megawatts (MW), the telecommunications company said on Wednesday. “The country’s capacity today is roughly around 60 megawatts. So, the 124-megawatt project […]

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