MANILA, Philippines — Consumers may pay higher electricity rates as power units of San Miguel Corp. (SMC) and Manila Electric Co. (Meralco) seek a temporary adjustment in their power supply agreements (PSAs) to recover fuel costs amid the unprecedented spike in fuel prices. South Premiere Power Corp. (SPPC), San Miguel Energy Corp. (SMEC) and Meralco […]
Read MoreMANILA, Philippines — MUFG Bank Ltd. is expecting a slower recovery pace for the Philippines in the second half as financial tightening became a global phenomenon led by the hawkish US Federal Reserve. “The financial tightening likely causes an overall lower Asia GDP growth in the second half. Specifically, we expect the recovery pace of […]
Read MoreMANILA, Philippines — The number of unemployed Filipinos went up in May while the quality of available jobs deteriorated, according to the latest data from the Philippine Statistics Authority (PSA). In a briefing yesterday, the PSA reported that the country’s unemployment rate rose to six percent in May from 5.7 percent in April. This translated […]
Read MoreKOTA KINABALU — The airasia Super App is gearing up to be the next big challenger for Grab Philippines this year, with the launch of its ride hailing and food delivery services by the fourth quarter. “For the ride hailing app in the Philippines, we are working aggressively in terms of hopefully bringing it toward […]
Read MoreTHE Bangko Sentral ng Pilipinas (BSP) will aggressively raise its benchmark interest rates by 50 basis points (bps) in August, Governor Felipe Medalla announced on Thursday. “[T]he BSP is prepared to be more aggressive in raising its policy rate, compared to its initial gradualist stance. In particular, BSP is prepared to raise its policy rate by 50 […]
Read MoreTEMPO.CO, Jakarta – Indonesia’s quick response code payment service dubbed QRIS will be available in four ASEAN countries. Bank Indonesia (BI) in tandem with the central banks of Thailand, Malaysia, Singapore, and the Philippines will realize cross-border payments with QRIS, open API (application payment interface), and Fast Payment by implementing the local currency settlement (LCS). Head of the […]
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