Inflation eases again, now below BSP target
The country's annual inflation rate dipped slightly to 1.3 percent in May, down from 1.4 percent in April, according to data released by the Philippine Statistics Authority. While the decline is modest, it marks a continued deceleration in price increases, indicating a slower pace of inflationary momentum.
IMI sells Czech unit to Keboda for EUR10M
Integrated Micro-Electronics Inc. (IMI), a member of the Ayala Group, has signed a definitive agreement to divest its Czech Republic operations to KEBODA Deutschland GmbH & Co. KG, a subsidiary of Shanghai-based Keboda Technology Co., Ltd., for a total consideration of EUR10.03 million, subject to adjustments.
CIC outpaces industry with 28% AC sales surge
Concepcion Industrial Corp. (CIC), a leading manufacturer of air conditioners and refrigerators, reported growth exceeding the industry, highlighting the strong demand, strategic investments, and the push to diversify beyond weather-dependent consumer segments.
Vince Dizon vows swift action on commute woes
Newly confirmed Transportation Secretary Vince Dizon has pledged to fast-track major transportation infrastructure projects to help ease the daily burden of millions of commuters and deliver on President Ferdinand Marcos Jr.’s directive to make travel safer and more comfortable across the archipelago.
Customs brokers nabbed in P2M extortion bust
In signaling the crackdown on corrupt practices within the customs system, the Bureau of Customs (BOC) on Wednesday arrested two customs brokers for allegedly extorting P2 million from a local freight forwarder. The operation, conducted jointly by the BOC’s Customs Intelligence and Investigation Services at the Manila International Container Port and the National Bureau of Investigation’s Anti-Organized and Transnational Crime Division (NBI-AOTCD), led to the swift arrest of Wyeth Lara Navales and her sister Leila Lara Navales in Ermita, Manila.
