INFLATION accelerated to a fresh 14-year high in January as food prices surged. — PHILIPPINE STAR/MIGUEL DE GUZMANBy Keisha B. Ta-asan, ReporterHEADLINE INFLATION accelerated to a fresh 14-year high in January as food prices continued to surge, fueling bets of further interest rate hikes to anchor expectations.The consumer price index jumped 8.7% in January, the Philippine Statistics Authority (PSA) said ...

REUTERSTHE PHILIPPINE government on Tuesday raised an initial P162.180 billion in an auction of retail Treasury bonds (RTBs), the second under the Marcos administration.In a statement, the Bureau of the Treasury (BTr) said the RTBs were met with strong demand.Tenders at the rate-setting auction hit P196.109 billion, or more than six times the P30 billion on offer at the BTr’s ...

The view of the Makati skyline seen from EDSA, Sept. 24, 2020. — PHILIPPINE STAR/ MICHAEL VARCASPHILIPPINE BANKS ended 2022 with their nonperforming loan (NPL) ratio at its lowest in 28 months as the economy’s reopening helped increased the capacity of Filipinos to repay their loans.The banking industry’s NPL ratio fell to 3.17% as of end-December from 3.35% as of ...

The Bureau of Internal Revenue (BIR) held its National Tax Campaign kick-off event in Pasay City, Feb. 7. — PHILIPPINE STAR/KRIZ JOHN ROSALESTHE BUREAU of Internal Revenue (BIR) is confident it will not just meet its revenue collection target, but exceed it this year.“With all our efforts and support we are getting, definitely we’re here to work doubly hard to ...

President Ferdinand R. Marcos, Jr. speaks during the kickoff of the National Tax Campaign at the Philippine International Convention Center in Pasay City, Feb. 7. Also in photo are Finance Secretary Benjamin E. Diokno and Speaker Ferdinand Martin G. Romualdez. — PHILIPPINE STAR/KRIZ JOHN ROSALESPRESIDENT Ferdinand R. Marcos, Jr. has backed a legislative proposal seeking to increase the tax rate ...

By Justine Irish D. Tabile, ReporterTHE agriculture arm of Metro Pacific Investments Corp. (MPIC) is buying a 34.76% stake in coconut products maker Axelum Resources Corp. for P5.32 billion as the investment company boosts its presence in agribusiness.“The north star of our agriculture business is helping our country achieve food security,” said Manuel V. Pangilinan, MPIC chairman, president and chief ...

GLOBE Telecom, Inc. reported a core net income of P3.16 billion in the fourth quarter of 2022, bringing its full-year bottom line to P19.17 billion, amid greater public mobility and the resumption of face-to-face activities.In a press release on Tuesday, the Ayala-led company said its October-December core income declined by 37% quarter on quarter. It previously reported its fourth-quarter 2021 ...

AN architect’s perspective of an aerial shot of Casa Mira Towers Palawan.CEBU Landmasters, Inc. (CLI) posted a 13.6% increase in higher reservation sales last year to P18.8 billion, with mid-market residential projects driving sales, the Visayas-Mindanao property developer said on Tuesday.In a disclosure to the stock market, the company said sales in its mid-market residential projects surged by 95% to ...

BW FILE PHOTOSM RETAIL, Inc. said on Tuesday that it had tapped global software company Fluent Commerce for a distributed order management system.“As one of the largest retailers in the Philippines, ensuring the best customer experience in each one of our stores is paramount,” Camila Lopez Lala-an, senior associate vice-president of SM Retail’s ShopSM, said in a media release.SM Retail ...

RAZON-Led Prime Infrastructure Capital, Inc. (Prime Infra) said on Tuesday that it had spent about P134.5 million on various access to clean water and sanitation projects for marginalized communities.“Across our businesses in the water, energy and waste management sectors, we are driven by our commitment to build better lives and resilient economies—whether in the development of critical infrastructure or through ...