Italian designer Giorgio Armani has died at the age of 91, his fashion house announced Thursday. In a statement, Armani’s company said he passed away peacefully surrounded by his loved ones. His body will lie in state at Milan’s Armani/Teatro on Saturday and Sunday to allow the public to pay their respects. A private funeral…
Honda Motor Co. said Thursday that it will release a new model of its Prelude sports car on Sept. 5, reviving the iconic name for the first time in 24 years. The major Japanese automaker targets annual domestic sales of 3,500 units for the new Prelude, a hybrid coupe. Honda hopes that the Prelude would…
President Lee Jae Myung on Friday instructed the government to investigate cases of unfair treatment and wage arrears involving foreign workers and to prepare support measures. During a meeting with senior aides, Lee stressed that foreigners residing in South Korea should not be subjected to unfair treatment in line with the nation’s cultural standards, regulations…
Bank lending in the Philippines grew at a slightly slower pace in July, even as domestic liquidity expanded, the Bangko Sentral ng Pilipinas (BSP) reported Friday. Outstanding loans of universal and commercial banks (U/KBs) rose 11.8 percent in July, down from 12.1 percent in June, totaling PHP13.57 trillion. Loans to residents increased by 12.4 percent,…
The government is stepping up efforts to maintain sufficient supply and stabilize prices of key commodities following a rise in inflation due to recent weather disturbances, the Department of Economy, Planning, and Development (DEPDev) said. Headline inflation in August reached 1.5 percent, up from 0.9 percent in July, according to the Philippine Statistics Authority (PSA)….
Oil prices in the Philippines are projected to increase next week by PHP1 to PHP1.50 per liter due to supply-related concerns. Jetti Petroleum president Leo Bellas cited disruptions from Ukrainian attacks on Russian oil facilities, fresh US sanctions on Iran, and OPEC+ production decisions as key factors influencing global oil prices. He said diesel could…
Representatives of 37 businesses from Region 6 (Western Visayas) received training through the Department of Trade and Industry’s (DTI) Moonshot TNK ASPIRE Startup Bootcamp, aimed at helping them scale up and become major players in their sectors. Held on Aug. 28, the program catered to startups in early-stage manufacturing, information and communication, agriculture, and services….
The proportion of non-performing loans (NPLs) of Philippine banks inched up to 3.40 percent in July from 3.34 percent in June, the Bangko Sentral ng Pilipinas (BSP) reported Friday. The figure, however, remained lower than 3.58 percent recorded in July 2024, with gross NPLs reaching PHP535.4 billion. John Paolo Rivera, senior research fellow at the…
Iloilo farmers were among the first to benefit from the ‘Benteng Bigas Meron Na!’ (BBM Na) program, with 69 farmers purchasing rice at PHP20 per kilogram during its launch at the National Food Authority (NFA) warehouse in Jaro, Iloilo City on Thursday. Maria Teresa Solis, OIC-Regional Technical Director of the Department of Agriculture – Western…
Senator Risa Hontiveros marked National Teachers’ Month by calling for a PHP15,000 across-the-board monthly wage increase for public school teachers and employees, along with additional benefits, medical discounts, and protection of their pension contributions. Hontiveros is pushing for the passage of her proposed Dagdag Sahod for Public Basic Education Teachers and Employees Act (Senate Bill…