Firms pessimistic due to pandemic

THE Covid-19 pandemic is still affecting business confidence in the Philippines with enterprises remaining pessimistic despite reduced negative consumer sentiment, according to two Bangko Sentral ng Pilipinas (BSP) surveys released on Friday. The third quarter 2021 confidence index (CI) — calculated as the percentage of companies that answered “yes” minus those that answered “no” — […]

PAG-IBIG RECORDS NEW HIGHS IN JAN-AUG

STATE-RUN Home Development Mutual Fund (Pag-IBIG Fund) said its members availed of its housing loan and voluntary savings program in unprecedented numbers in the first eight months of the year. According to its statement released on Friday, home loans totaled P58.52 billion from January to August, assisting 57,235 members in realizing their dream of homeownership. […]

PH logs 18,659 new Covid-19 cases

THE Philippines logged 18,659 new cases of the coronavirus disease 2019 (Covid-19), pushing the total to 2.453 million, although there were no recorded deaths on Friday, according to the Department of Health (DoH). The “zero” deaths was due to a glitch in the CovidKaya system, which the Department of Information and Communications Technology (DICT) is […]

China — When a giant must fall

MY assessment of the situation with China Evergrande in China is that it is not, and will not be, a comparable situation with the decline of Lehman Brothers during the global financial crisis just over 10 years ago. After all, the American investment bank was a bank and the closure of the bank also became […]

The injustice behind Parex

THE Pasig River Expressway (Parex) project of San Miguel Corp. (SMC) is a proposed six-lane elevated expressway that will traverse the length of the Pasig River, about 19.37 kilometers of new concrete structures that will sit above the Pasig River. This month, the Toll Regulatory Board (TRB) approved and signed a Supplemental Toll Operations Agreement […]

Cloud Layers at WASP-127b

A ‘hot Saturn’ with a difference, that’s WASP-127b. Although it’s 525 light years away, we’ve learned a surprising amount about the planet’s atmosphere. Details come via the ongoing Europlanet Science Congress 2021, now being held virtually for pandemic reasons, at which Romain Allart (iREx/Université de Montréal and Université de Genève) spoke this week. WASP-127b is […]

BSP net profit climbs to P48B

The net profit of the Bangko Sentral ng Pilipinas (BSP) climbed by triple digits in the first seven months of the year, according to figures released on Friday. The central bank’s financial statement showed that it netted P48.71 billion over the period, up from P13.90 billion a year ago. There was no explanation given for […]

Plans for PCIC reorganization bared

Finance Secretary Carlos Dominguez 3rd revealed the plans for the reorganization of the government-owned Philippine Crop Insurance Corp. (PCIC), following its transfer to his department. According to the Department of Finance (DoF), the members of the reconstituted PCIC Board formalized the election of Dominguez as chairman and Agriculture Secretary William Dar as vice chairman during […]

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