Gov’t orders cut in airport fees to help lower air travel costs
Transportation Secretary Giovanni Lopez has directed the Civil Aviation Authority of the Philippines (CAAP) to reduce Passenger Service Charges (PSC) and airport navigation fees in airports operated by the agency.
Coffee costs clip Universal Robina profits
Universal Robina Corp., the listed food unit of the Gokongwei Group, posted modest revenue growth last year but saw profits ease as unusually high coffee input costs squeezed margins, highlighting how volatile commodity prices continue to challenge food manufacturers.
ASEAN ministers urge restraint in Middle East, shield region’s economy
Economic ministers of the Association of Southeast Asian Nations on Friday called for urgent de-escalation of tensions in the Middle East, warning that prolonged conflict could ripple across global energy markets and threaten Southeast Asia’s fragile economic recovery.
Fuel price spike clouds Cebu Pacific growth
Cebu Pacific, the budget carrier unit of the Gokongwei Group, is bracing for potential turbulence from rising global fuel prices, even as the Philippines’ largest budget airline continues to post steady passenger growth early this year.
World Bank backs Philippines reform agenda with $800M loan
The World Bank has approved an USD800-million financing package for the Philippines aimed at strengthening fiscal resilience, improving the business climate and equipping Filipino workers with skills needed for higher-quality jobs.
