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Peso tumbles to close at P55.06:$1
The peso rate breached the P55 level on rallying US dollar, closing at P55.06 on Wednesday, June 29, 2022, from P54.77 on Tuesday, June 2022.
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German companies upbeat on PH economy – survey
Majority of German businesses in the Philippines foresee positive outlook in the next 12 months, but also expect significant impact of the Russian invasion of Ukraine on the local economy, according to the latest result of the AHK World Business Outlook (AHK WBO) survey.
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GOCCs remit P374.5-B dividends
Because of the reallocation of funds amid the pandemic, government-owned and -controlled corporations’ (GOCCs) total cash dividends during the six-year Duterte administration reached a record P374.54 billion, up 127 percent from the Aquino government’s P164.81 billion, according to the Department of Finance (DOF).
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Is global recession here?
THE USA’S GDP GROWTH Is expected to slacken to a slow 1 percent (2021) and 1.4 percent (2022), China’s GDP forecast is down from 5.1 percent to 3.2 percent, and Europe is greatly affected by the war between neighbors Russia and Ukraine.
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Waterfront Philippines Inc. to hold Annual Stockholders’ Meeting online
Waterfront Philippines Inc. will hold its Annual Stockholders’ Meeting online on July 22, 2022. Details to participate are listed here.
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Veloso 'honored' to work for Marcos
The incoming Government Service Insurance System (GSIS) president and general manager, veteran banker Jose Arnulfo “Wick” Veloso, said it will be an honor for him to join the Marcos administration.
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Meralco subsidiary partners with Korean firm
The Meralco Industrial Engineering Services Corporation (Miescor), a subsidiary of power utility giant Manila Electric Company (Meralco), has partnered with South Korean firm Seochang Electric Communication Co. Ltd. for a research and development (R&D) project that could scale up the deployment of clean energy technologies in the Philippines.
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AirAsia PH targets to regain pre-covid capacity
AirAsia Philippines aims to attain as high as 70 percent of its pre-COVID capacity for international routes fort the last quarter of this year, the budget carrier announced Wedneday, June 29.
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BHI to reposition Boracay resort
Fridays Holdings, Inc. (FHI), a unit of publicly-listed Boulevard Holdings Inc. (BHI), has decided to renovate Fridays Boracay instead of immediately reopening amid the surge in arrival of domestic tourists.
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IC to supervise PCIC
The Insurance Commission (IC) now has supervisory powers over the state-controlled Philippine Crop Insurance Corp. (PCIC), according to the Department of Finance (DOF) on Wednesday, June 29.
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BSP intensifies measures vs cyber attacks
The Bangko Sentral ng Pilipinas (BSP) is again urging its supervised financial institutions (BSFIs) to implement “robust” measures against cyber fraud and attacks on their retail electronic payments and financial services (EPFS).
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Razon-led power utility secures EDC supply
Razon-led MORE Electric and Power Corporation will tap 20 megawatts of its electricity supply from Energy Development Corporation (EDC), a subsidiary of First Gen Corporation of the Lopez group.