MANILA, Philippines — San Miguel Corp. (SMC) will utilize its plastic waste to fuel its cement manufacturing facilities as part of its sustainability efforts. SMC affiliate Northern Cement Corp. (NCC) is capable of consuming up to 1.5 million tons of plastic waste per year. It is targeting to reduce use of traditional fuel by up […]
Read MoreMANILA, Philippines — Term deposit rates increased on strong demand from cash-rich banks as the Bangko Sentral ng Pilipinas (BSP) continued to suspend the offering of the 28-day tenor. BSP Deputy Governor Francisco Dakila Jr. said the yield of the seven-day tenor went up by 3.47 basis points to 1.8813 percent at the Term Deposit […]
Read MoreMANILA, Philippines — Sustaining the downtrend in the number of COVID cases and supporting the growth in consumption would help shield the Philippines from a weakening global economy, a World Bank economist said. World Bank senior economist for the Philippines Rong Qian said in a forum that keeping the number of confirmed COVID cases on […]
Read MoreMANILA, Philippines — The country’s nickel miners expect prices to remain favorable until 2021 despite the coronavirus pandemic. “Hopefully, prices will continue to be good in 2021. The best news now is all economies in the world are reacting to China’s third quarter GDP (gross domestic product),” Philippine Nickel Industry Association board member Isidro Alcantara […]
Read MoreMANILA, Philippines — The government now expects a deeper economic contraction this year following the reimposition of strict lockdowns in Metro Manila and nearby provinces in August, the Department of Finance (DOF) said yesterday. In an online business forum, Finance Secretary Carlos Dominguez said the country’s gross domestic product (GDP) is projected to shrink by […]
Read MoreMANILA, Philippines — The plan of central banks across the world to create digital currencies could have profound consequences for global banks, according to Moody’s Investors Service. In a report, Moody’s said the accelerating trend toward digital payments amid the COVID-19 pandemic is considered by many central banks to be a long-term threat, both to […]
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