Oil firms announce a fuel price increase of over P1 per liter effective Tuesday, impacting consumers and the energy sector. Factors include global oil market trends and currency fluctuations. Government and public reactions vary amidst suggestions for mitigating measures.
Bitcoin surpasses $98,000, fueled by speculation on President Trump’s crypto-friendly policies. The rally includes over 40% growth in two weeks, highlighting increased interest and potential regulatory changes.
Popular e-wallet GCash experienced a disruption in its bank transfer feature via BancNet, following recent unauthorized deductions. BSP’s investigation into these issues aims for resolution by mid-December. GCash assures users of secure accounts and prompt transaction refunds.
Maynilad Water Services Inc. in Muntinlupa City is preparing to launch a P1.6 billion water reclamation and sewerage facility, aiming to improve water management and sanitation.
Figaro Coffee Group Inc. reported a 17% increase in income for the first quarter ending September 30, 2023, reaching PHP 103.48 million. The company attributes its growth to strategic expansion and operational efficiency improvements. Despite rising costs due to global inflation, FCG remains confident in overcoming challenges and continues to focus on expansion and delivering quality food options in the Philippines.
Spirit Airlines files for Chapter 11 bankruptcy as it faces financial challenges, including $1 billion in debt payments due in 2025-2026. The airline assures continued operations and has secured a $350 million equity investment and debt restructuring agreement with bondholders.
Remittances from Filipinos working overseas increased by 3.2% in September, totaling $3.34 billion. This marks the second-fastest growth of the year, according to the Bangko Sentral ng Pilipinas.
DITO Telecommunity is expanding its network, reaching 13 million subscribers and securing a 12% market share. With a PHP 9 billion investment plan, DITO aims to build 800 more cell towers, strengthening its position in the competitive Philippine telecommunications market.
Converge ICT Solutions Inc. sustains its revenue growth forecast despite market challenges, reporting a 14% rise in revenues for the first nine months of 2023, reinforcing its robust market position in the Philippine telecommunications sector.
Aboitiz InfraCapital Inc. is set to win the P4.53-billion Bohol-Panglao International Airport development deal, as no other bids were submitted. This move is part of its strategy to expand its airport portfolio.