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Fitch Ratings downgrades further PH growth outlook to 5.8%

Sovereign credit watcher Fitch Ratings has downgraded further the country’s output growth, or the gross domestic product (GDP), to 5.8 percent this year as part of its assessment on the government’s plan to sell US dollar- and euro-denominated bonds.

Unicapital forecasts positive outlook for Philippine markets amid rate cut

Unicapital Group, a prominent independent financial services provider and investment house, is bullish in its outlook for the Philippine equities market and has recommended for investors to take an “overweight" position in, among others, SM Prime Holdings, AREIT Inc., and Metropolitan Bank & Trust Co.

Meralco secures 600-MW supply under CSP best offered by SMC, Aboitiz units

Manila Electric Co., the country’s largest power distributor, has secured the lowest offers for its 600-megaWatt baseload supply requirement through the conduct of a Competitive Selection Process.

SMC seeks resumption of landfill activities at Bulacan airport

The year-old suspension of reclamation activities along Manila Bay is costing San Miguel Corporation hundreds of millions of dollars in additional costs in building the P734-billion Bulacan International Airport.

Government plans separate O&M bids for Manila’s rail lines

The Department of Transportation (DOTr), as part of the larger goal of relieving Metro Manila of its horrendous traffic management problems, is exploring the idea of privatizing the operations and maintenance (O&M) of Metro Rail Transit Line 3 (MRT-3) and the Light Rail Transit Line 2 (LRT-2) as separate programs.

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Discovery Capital secures loan to widen reach, boost financial inclusion

Discovery Capital Finance Corp. has secured a credit facility with Union Bank of the Philippines, part of the Aboitiz group, to speed up its expansion across the country.

EastWest Bank expands priority banking for affluent clients amid strong growth

East West Banking Corp. is set to grow its priority banking network and services, following a 40 percent rise in assets under management to P120 billion last year. CEO Jerry G. Ngo announced the bank will increase priority banking branches nationwide from 13 to 20 in the coming years.

Silent senators forfeit democracy’s mantle

The Senate has been regarded as the last bastion of democratic dissent—a chamber where statesmen stood their ground, challenged power, and refused to let their voices be drowned out by political pressure or executive overreach. It was where difficult questions were asked, unpopular truths were spoken, and silence was treated not as a virtue but as a surrender.

Minority senators seek Cayetano exit over Senate shutdown

The Senate minority bloc on Tuesday called on Senate President Alan Peter Cayetano to resign, him of abandoning his responsibilities, neglecting his duties, and disregarding Senate rules by halting the chamber’s proceedings. In a sharply worded statement, minority senators argued that the Senate “cannot be made to stop working because its presiding officer refuses to lead,” stressing that legislative work must continue regardless of political disputes. The bloc also maintained that Senate rules require the Senate President to consult both majority and minority leaders before postponing a session, alleging that such consultation did not take place.

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