The UK economy rebounded in May after shrinking in April and March, official figures show. The economy grew by 0.5% during the month, the Office for National Statistics (ONS) said, higher than the flat growth most economists expected.Every area of the economy expanded including construction, travel and manufacturing. However, businesses reported that higher running costs had led to them to ...

PHILIPPINE SHARES went up on Tuesday amid improved second-quarter results of listed firms and the continued expansion of manufacturing activity in the country.The bellwether Philippine Stock Exchange index (PSEi) went up by 50.27 points or 0.79% to close at 6,362.30 on Tuesday, while the broader all shares index increased by 18.67 points or 0.55% to 3,411.59.“Philippine shares surged near the ...

BW FILE PHOTOTHE PESO weakened further against the dollar on Tuesday ahead of the release of latest inflation data and tensions between the United States and China.The local unit ended trading at P55.435 versus the greenback, shedding 12.5 centavos from its P55.31-to-a-dollar close on Monday, according to data from the website of the Bankers’ Association of the Philippines.The peso opened ...

House prices are continuing to rise despite the growing cost of living crisis. The Nationwide said prices climbed 11% in the last 12 months, although the rise over the last month was just 0.1%.“The housing market has retained a surprising degree of momentum,” said Robert Gardner, Nationwide’s chief economist. But he said that there were “tentative signs of a slowdown ...

Toyota has threatened to stop manufacturing in the UK if the government goes ahead with its plans to ban the sale of hybrid cars from 2030. The marquee told government officials the ban would constrain “manufacturing, retail and other business activities” as well as “future investment.”“If the government adopts an SZEC [significant zero emission capability] requirement that causes an early ...

The UK government’s Insolvency Service today said it recorded a higher number of insolvencies over the past three months than at any other point in more than a decade, after the numbers of companies declaring voluntary bankruptcies hit their highest levels since records began. The past three months saw a total of 5,629 English and Welsh compared declare bankruptcy after ...

PHILIPPINE STAR/ EDD GUMBANTHE second tranche of the Targeted Cash Transfer (TCT) program has been released to the Department of Social Welfare and Development (DSWD) for distribution, the Departments of Finance (DoF) and Budget and Management (DBM) said.The program is intended to address the impact of rising prices on vulnerable households, according to statements issued by both departments.A Special Allotment ...

PHILIPPINE STAR/ RUDY SANTOSTHE Transportation department said on Tuesday more boarding gates are needed at Terminal 2 (T2) of the Ninoy Aquino International Airport (NAIA) to maximize its flight-handling potential.Transportation Secretary Jaime J. Bautista said the limited boarding gates at Terminal 2 serve as a constraint on the number of flights that can operate out of the terminal.There is also ...

MATHILDE LANGEVIN-UNSPLASHTHE Department of Agriculture (DA) is considering allocating more sugar for the consumer market, Undersecretary Kristine Y. Evangelista said.“We know our sugar demand is halved into household and industrial (use). What we are looking at right now is the supply at hand… We are looking to see if (more volume) needs to be reclassified for household consumption,” she told ...

PHILSTARPHILIPPINE National Railways (PNR) is set to open bids on Aug. 18 for three projects, including the P1.8-billion design and build contract for track relocation works between the Solis and Sucat stations.The Solis-Sucat contracts cover pocket tracks, stations, box culverts, and other civil works, according to bid documents published by the PNR.Completion is required within 850 calendar days, it said.The ...