PIXABAY SINGAPORE — Hundreds of public housing apartments in Singapore, one of the world’s most expensive cities, are being sold for over one million Singapore dollars ($716,000) as COVID-related construction delays create a shortage of new units. At least two units have surpassed the million-dollar mark in US dollars, and the high prices are fueling talk of new government measures ...
Residents wade through floodwaters amid heavy rainfall in Zhengzhou, Henan province, China July 20. — CHINA DAILY VIA REUTERS NUSA DUA, Indonesia — Officials from the Group of 20 (G20) major economies meeting on Wednesday for climate talks in Bali have been unable to agree on a joint communique, amid objections over language used on climate targets and the war ...
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com. Join us on Viber to get more updates from BusinessWorld: https://bit.ly/3hv6bLA. ...
Employees arrange canned goods on a shelf at a supermarket, Aug. 26. — PHILIPPINE STAR/ EDD GUMBAN HEADLINE INFLATION likely settled within 5.9% to 6.7% in August as food prices continued to rise, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday. “Inflation for the month was driven by the continued increase in key food prices, but could be offset ...
PHILSTAR By Luisa Maria Jacinta C. Jocson, Reporter THE PHILIPPINES’ information technology and business process management (IT-BPM) sector is expected to boost its revenues by as much as 10% this year, and create over 1.1 million jobs in the next six years, as the economy recovers from the coronavirus pandemic. “The IT-BPM industry has become an indispensable pillar of the ...
BANK LENDING GROWTH remained steady in July, as borrowing costs remained low, according to the Bangko Sentral ng Pilipinas (BSP). Data from the BSP showed outstanding loans of universal and commercial banks, net of reverse repurchase (RRP) placements with the central bank, rose by 12% to P10.21 trillion in July, from P9.12 trillion a year earlier. The July growth rate ...
A WORKER cuts metal in a construction area in Manila, March 24. — PHILIPPINE STAR/ RUSSELL PALMA THE GROWTH in wholesale prices of building materials in Metro Manila slowed in July, amid increasing construction activity. The wholesale price index for construction materials in the National Capital Region (NCR) eased to 8.7% year on year in July, from the almost 14-year ...
THE Department of Energy (DoE) has formed special technical and financial review committees and tapped consultants to review the proposed sale of the interest of Shell Philippines Exploration B.V. (SPEx) in the deepwater Malampaya project. “We want to assure the public that the DoE will exercise the utmost care and diligence in carrying out its mandate involving the country’s upstream ...
THE SECURITIES and Exchange Commission (SEC) issued a permanent cease-and-desist order against online lending operators Skymart, Withu, and Spendcash for violating the law governing lending companies. The SEC said on Wednesday that it denied the respective motions of the three entities to lift the halt order dated Feb. 10 for lack of merit. The order was issued after the commission ...
STATE-LED Philippine National Oil Co. (PNOC) is seeking legislative approval on its plan to establish a national strategic petroleum reserve (SPR) that will serve as the country’s permanent oil stockpile. At a Senate energy committee hearing on Wednesday, PNOC President and Chief Executive Officer Jesus Cristino P. Posadas described the reserve as the “development of a permanent oil stockpile, especially ...