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PH total debt reach P13.42 T in 2022
The Philippines has incurred an outstanding total debt of P13.418 trillion as of end-2022, up by 14.4 percent from end-2021’s P11.728 trillion, the Bureau of the Treasury (BOT) announced Thursday, Feb. 2.
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ADB to fund 5 networks in Bicol, Davao and Cebu
The government, in partnership with the Asian Development Bank (ADB), will award funding grants of up to $80,000 or P4.3 million to five so-called networks of enterprises in Bicol, Davao and Cebu under the SkillsUpNet Philippines (SUNPh) program.
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BSP can handle loss of dividends for MIF — Medalla
Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said the central bank is comfortably on a positive financial condition to let go of its profits in favor of the Marcos government’s Maharlika Investment Fund (MIF) for which the central bank will contribute 100 percent of its declared dividends in the first two years of the wealth fund.
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Cambodia seeks direct rice exports to PH
Cambodia, which exports half of its rice production to Vietnam, is seeking to export directly its surplus harvest to the Philippines, according to the Department of Trade and Industry (DTI)I .
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Vista Land gets lower rate for P2.9-B notes
Vista Land & Lifescapes, Inc., the country’s largest homebuilder and one of the leading integrated property developers, has issued additional corporate notes amounting to P2.9 billion from its P12 billion corporate notes facility.
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SNAP secures power supply from Yuchengco plants
Joint venture firm SN Aboitiz Power (SNAP) has inked power supply agreements (PSAs) for the procurement of electric capacity from power plants owned by PetroGreen Energy Corporation (PGEC) and PetroSolar Corporation (PSC) of the Yuchengco group.
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NEDA Board approves seven infra projects
President Ferdinand R. Marcos Jr. approved the implementation of seven infrastructure projects, including a cancer center for the University of the Philippines – Philippine General Hospital (UP-PGH), the National Economic and Development Authority (NEDA) announced.
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PSALM trims financial obligations to P335.25 B
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has reduced its outstanding debt by P8.44 billion last year to P346.76 billion from the prior year’s P335.25 billion on higher revenues.
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Relaxed border controls boost Pagcor income
Revenues of the Philippine Amusement and Gaming Corp. (Pagcor) soared by 66 percent last year, driven by the opening of country’s borders to local and foreign tourists following the pandemic.
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Study reveals Filipinos’ strong affinity to drinking
Beer sales increased five folds during festivities in the Philippines, confirming Filipinos’ strong affinity to drinking during celebrations, according to a market intelligence platform.
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MRT-3 completes overhaul of coaches
The Metro Rail Transit-3 (MRT-3) this week completed the 5-year overhaul of its 72 train coaches or light rail vehicles (LRVs) and can now deploy 18 to 21 train sets at peak hours.
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Of inflation and alphanumeric
Cathy Pimentel, a young entrepreneur who owns and manages O2 Skin Lab in upscale BGC, shares the difficulty in keeping her business afloat.
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Ateneo and ADI: Co-creating the future to drive innovations further and develop more AI solutions
Aboitiz Data Innovation (ADI) officially signed a Memorandum of Understanding (MoU) with Ateneo de Manila University (Ateneo), one of the top universities in Southeast Asia, to create meaningful initiatives, drive innovations further, and co-develop AI solutions.