Bill creating Basilan State University gets House nod THE HOUSE of Representatives approved on third and final reading a bill that will upgrade the Basilan State College (BASSC) into a full state university. Voting 196-0 with no abstentions, congressmen approved House Bill 7697, the measure converting the BASSC in Isabela City, along with its extension […]Read More

THE Philippines faces the prospect of an “uneven” and “volatile” economic recovery as it struggles to control the coronavirus disease 2019 (COVID-19) pandemic, the World Bank (WB) said after it slashed the country’s gross domestic product (GDP) forecast again this year. Read the full story. Read More

VEEJAY VILLAFRANCA/BLOOMBERG By Beatrice M. Laforga, Reporter THE Philippines faces the prospect of an “uneven” and “volatile” economic recovery as it struggles to control the coronavirus disease 2019 (COVID-19) pandemic, the World Bank (WB) said after it slashed the country’s gross domestic product (GDP) forecast again this year. In the October 2020 Economic Update for […]Read More

PAUL YEUNG/BLOOMBERG THE government plans to borrow P140 billion from the domestic market in October, less than the P160-billion program this month, as investors remain highly liquid but more cautious. In an advisory posted last Thursday, the Bureau of the Treasury (BTr) said it will borrow P80 billion in Treasury bills (T-bills) and P60 billion […]Read More

A laborer works at the main factory of Hyundai Motor in Ulsan, southeast of Seoul, July 13, 2012. — REUTERS By Jenina P. Ibanez, Reporter AUTOMOTIVE parts manufacturers expect a drop in production and employment if tariffs on automotive products imported from South Korea are lowered as part of the upcoming bilateral free trade agreement […]Read More

MEGAWIDE CONSTRUCTION Corp. is raising funds through the issuance of up to P8-billion new preferred shares to support its pipeline of expansion plans. In a statement on Tuesday, the engineering firm said it filed an application with the Philippine Stock Exchange to issue P3-billion new preferred shares, which will have an oversubscription option of up […]Read More

PROPERTY developer Ayala Land, Inc. (ALI) is eyeing more bond issuances that will maintain its balance sheet healthy to help it survive the coronavirus pandemic. In a virtual ceremony to list its P6.25-billion bonds at the Philippine Dealing & Exchange Corp. (PDEx) on Tuesday, ALI Chief Finance Officer Augusto Cesar D. Bengzon said more bond […]Read More

CEBU PACIFIC remains hopeful that it will survive the crisis despite the expected long period of recovery. The budget carrier, operated by Cebu Air, Inc., said it anticipates its recovery to “take longer than expected,” similar to Fitch Ratings’s recent forecast that local airlines will not bounce back to their pre-pandemic passenger volume next year, […]Read More

LEAN S. DAVAL, JR. LOW-COST carrier Philippines AirAsia, Inc. announced Tuesday its latest promotional fares for flights to Boracay Island to support the Tourism department’s efforts to gradually reopen the tourism sector amid the pandemic crisis. “The reopening of Boracay is a great step forward in jumpstarting the travel and tourism industry of the Philippines. […]Read More

THAI ARTIST Rirkrit Tiravanija’s banner “Morgen ist die Frage” (Tomorrow is the question) at the Berlin Berghain nightclub during Berlin Art Week. — WWW.BERLINARTWEEK.DE BUSINESSES are closing left and right, but in this climate, we tend to overlook art and artists. Already a difficult life before the pandemic hit, coronavirus disease (COVID-19) has exacerbated and […]Read More