April inflation eased to 8-month low of 6.6% IN BRIEF

May 18, 2023 as it committed to adjusting the monetary policy stance as necessary to prevent the further broadening of price pressures and the emergence of additional second-order effects.

The BSP said it also supports the timely and effective implementation of non-monetary government measures to mitigate the impact of persistent supplyside pressures on inflation.

The PSA said among the 13 commodity groups, the downtrend of the overall inflation was mainly due to the heavily weighted food and non-alcoholic beverages, which recorded a lower inflation rate of 7.9 percent compared to 9.3 in March.

SM Investments increases stake in 2GO Group to 67%

By Jenniffer

B. Austria

CONGLOMERATE SM Investments

Corp. said Friday it increased its stake in 2GO Group Inc. to 67.12 percent from 52.8 percent after buying out minority stockholders in the shipping and logistics firm.

SM’S DONATIONS. Continuing its commitment to helping elevate the country’s education system, SM Foundation Inc. teams up with SM Prime Holdings Inc. and the Department of Education to construct two school buildings in Laguna and Batangas provinces. Signing the memorandum of agreement to formalize the partnership on April 28, 2023 at the National Educators Academy of the Philippines in Malvar, Batangas are representatives from the SMFI, DepEd and the local government units. Upon the completion of the joint initiative, each school building with four classrooms will be donated to Laguna Resettlement Community School in San Pedro City, Laguna and San Antonio Elementary School in Sto. Tomas City, Batangas. The school buildings will be equipped with learning materials, armchairs, handwashing facilities, emergency equipment and PWD-friendly facilities.