MANILA, Philippines — Petron Corp. bounces back with a P6.14 billion in net earnings last year, a reversal of the P11.4 billion net loss in 2020, on higher volumes and recovery in international oil prices. Consolidated revenues jumped by 53 percent from P286 billion to P438.06 billion, driven by the increase in international prices and […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) expects borrowing costs to rise amid the escalating conflict between Russia and Ukraine. Finance Secretary Carlos Dominguez said the government would depend its financing requirements from the P458 billion raised by the Bureau of the Treasury through the 27th tranche of Retail Treasury Bonds (RTBs). “Following a strong […]
Read MoreMANILA, Philippines — Amid the Omicron variant surge in January, local factory output slowed its ascent. But an analyst said production likely bounced back in February. What’s new Results of the Philippine Statistics Authority’s monthly survey of selected industries showed the volume of production index (VoPI), a measure of manufacturing output, rose 16.5% year-on-year in January, […]
Read MoreMANILA, Philippines — Call center workers would have to return to the office next month after the government denied the request of many companies to allow their employees to work from home for much longer to give their business more time to recover from the pandemic and amid rising transport costs. This means Information Technology-Business […]
Read MoreMANILA, Philippines — Domestic shipping cost is expected to rise from 15 to 25 percent as fuel prices continue to soar, according to shipping associations. Philippine Liner Shipping Association (PLSA) president Mark Parco said during a House fuel ad hoc committee hearing yesterday that Brent crude has risen by over 50 percent from the January […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) sees inflation accelerating and breaching the two to four percent target under a worst-case scenario wherein global oil prices would return to 2018 elevated levels due to the ongoing Ukraine-Russia conflict. BSP Governor Benjamin Diokno said inflation may accelerate from 4.4 to 4.7 percent if Dubai […]
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