Dollar and pound banknotes are seen in this picture illustration taken April 28, 2017. — REUTERS/DADO RUVIC/ILLUSTRATIONTHE PHILIPPINES’ dollar reserves fell to $99.3 billion at end-February, as the government settled foreign currency debt obligations, the central bank said late on Tuesday. Citing preliminary data, the

PHILIPPINE STAR/ KRIZ JOHN ROSALESBy Keisha B. Ta-asan, ReporterSOURED LOANS held by banks increased for the first time in 10 months in January amid elevated inflation and rising interest rates, which brought the industry’s gross nonperforming loan (NPL) ratio to a two-month high.Based on preliminary

Linemen of Manila Electric Co. fix electric posts in Tondo, Manila in this file photo. — PHILIPPINE STAR/ RUSSELL PALMATHE ENERGY Regulatory Commission (ERC) has approved the proposal of Manila Electric Co. (Meralco) to stagger the collection of an estimated P1.1 billion in generation

PHILSTAR FILE PHOTOTHE HOUSE of Representatives on Wednesday approved on second reading a bill seeking to rightsize the bureaucracy to improve the delivery of government services.Lawmakers voted by voice to pass House Bill No. 7240 or the National Government Rightsizing Act, one of the House’s

ALL OF A SUDDEN, the prospect of US rates hitting 6% is becoming real enough for investors to rethink their strategies. BlackRock, Inc. and Schroders Plc are among those who are weighing in on the debate of what will happen if US rates peak at 6%.

By Justine Irish D. Tabile, ReporterMETRO Pacific Investments Corp. (MPIC) reported a 15% jump in its consolidated core net income to P14.2 billion in 2022 from P12.3 billion a year earlier amid the recovery of toll road traffic and the growth in power consumption.“The improved

SAN MIGUEL Food and Beverage, Inc. (SMFB) posted a 10% increase in consolidated net income to P34.7 billion in 2022 as sales volume expanded by double digits, the company said in a media release on Wednesday.“SMFB’s results prove the resilience of our business model as

MEGAWORLD Corp.’s township project is set to house a commuter railway station, a company official said on Tuesday, as the development of the 85-hectare property in Bulacan begins.“I take so much pride to bring excitement and dynamism of a Megaworld township development in the province,”

AYALA-LED real estate investment trust company AREIT, Inc. has secured approval from its board of directors for its multibillion property-for-share swap with Ayala Land, Inc. and its subsidiaries Ayala Land Malls, Inc. and North Beacon Commercial Corp.In a disclosure to the stock market on Wednesday,

ABACORE Capital Holdings, Inc. has partnered with Chinese property developer Shanlin Real Estate Co. Ltd. for a P1.5-billion resort project in Batangas, the company said in a media release.The project will be headed by a joint-venture company, Fluvion Real Estate Development ,Inc., and will be

1 of 2THINGS that helped Francisco “Paco” Magsaysay stay in the ice cream business include courage and a certain persistence (dedicating the business to someone important would also help).During last week’s The Future of F&B conference at the Conrad, Carmen’s Best founder Mr. Magsaysay discussed

HONOR X8aSMART devices brand HONOR will launch the X8a, the latest smartphone in its X Series lineup, in the Philippines next week.The X8a will arrive in the country on March 14, HONOR Philippines said in a statement on Wednesday.“As promised to our HONOR fans, we