Recovery

calculator, calculation, insurance

Local governments’ H1 revenue collections up by 4%

Tax and nontax revenues collected by local governments in the first half of 2021 inched up by about 4 percent year-on-year to P168.9 billion amid easing quarantine restrictions and improving prospects due to the gradual reopening of the economy. Collections by the local governments in the first half of last year was P162.8 billion. Based …

Local governments’ H1 revenue collections up by 4% Read More »

city, buildings, architecture

PH seen staying on growth track in Q3 on slowing COVID-19 cases

The Philippines is seen avoiding a slowdown in its economic rebound in the third quarter amid relatively lower COVID-19 infections compared to its neighbors suffering from surges and with mass vaccination picking up, UK-based think tank Pantheon Macroeconomics said. The Philippines would also likely join Indonesia and Thailand in achieving herd immunity by next year …

PH seen staying on growth track in Q3 on slowing COVID-19 cases Read More »

pizza, cooking, fast food

Shakey’s restarts expansion plan after difficult 2020

After the disruptions caused by the pandemic in 2020, restaurant chain operator Shakey’s Pizza Asia Ventures Inc. has resumed its store expansion program this year, with the goal of opening 30 new stores. The new store openings will consist of 15 new restaurants under the flagship Shakey’s brand and 15 under the Peri-Peri Charcoal Chicken …

Shakey’s restarts expansion plan after difficult 2020 Read More »

buildings, coast, skyline

PH recovery gaining traction, says Diokno

The recovery of the Philippine economy from its worst postwar contraction last year is starting to gain traction as evidenced by the strength of the latest key indicators, the head of the central bank told foreign businessmen and diplomats recently. Speaking before the Joint Foreign Chambers, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said economic …

PH recovery gaining traction, says Diokno Read More »

skyscraper, architecture, city

PH outlook improves as COVID-19 cases decline

The declining number of COVID-19 cases in the Philippines augurs well for economic recovery and the return of jobs lost amid last year’s pandemic-induced steep recession. But three think tanks on Monday cautioned the government against letting down its guard against the virus, especially as the more contagious Delta variant forced renewed lockdowns which hurt …

PH outlook improves as COVID-19 cases decline Read More »

entrepreneur, idea, competence

Kickstart intensifies hunt for elusive ‘unicorn’

Ayala group-backed corporate venture capital firm Kickstart Ventures has intensified its hunt for future “unicorns” here and abroad notwithstanding a prolonged COVID-19 pandemic, making use of a fresh $180-million fund to help bankroll early-stage to growth-stage tech startups. Kickstart, a wholly owned subsidiary of Globe Telecoms, is scouting for innovative companies with compelling, credible and …

Kickstart intensifies hunt for elusive ‘unicorn’ Read More »

wallet, digital, mouse

Paymaya operator secures P8B to fund digital bank dream

The privately held technology company behind the PayMaya mobile wallet successfully raised $167 million, or over P8 billion, to fund its expansion and an upcoming digital bank. Voyager Innovations said on Monday the money came from existing investors PLDT Inc., China’s Tencent, global investment firm KKR and the International Finance Corp., through IFC Financial Institutions …

Paymaya operator secures P8B to fund digital bank dream Read More »

excavator, construction, site

Infra projects to create 1.6M more new jobs this year–Villar

The big-ticket infrastructure projects currently rolled out by the government will create an additional 1.6 million jobs this year, President Duterte’s infrastructure managers said on Wednesday. Public Works Secretary Mark Villar told the Asia Infrastructure Forum 2021 the government’s “Build, Build, Build” program had so far created 6.5 million jobs as public infrastructure spending was …

Infra projects to create 1.6M more new jobs this year–Villar Read More »

PH faces COVID-19 employment challenge

As the Philippines rebounds from the pandemic, strengthening labor market programs will be critical to help workers and enterprises make the transition. Prior to the COVID-19 pandemic, the Philippines was experiencing its longest-ever economic and job expansion. There was remarkable growth in wage and salary employment (a measure of modern employment), growing at an average …

PH faces COVID-19 employment challenge Read More »

wallet, money, credit card

Unionbank starts year strong, Q1 profit surged 79% to P4.7B

Aboitiz-led UnionBank of the Philippines (UBP) grew its first quarter net profit by 79 percent year-on-year to P4.7 billion on the back of higher interest earnings and hefty trading gains.This performance translated to a robust return on equity of 18.1 percent, the bank told the Philippine Stock Exchange on Friday. “Our strong financial performance in …

Unionbank starts year strong, Q1 profit surged 79% to P4.7B Read More »