BSP warns of supply shocks, interest hike IN BRIEF

“Barring any unforeseen supply shocks… inflation should be below 4 percent by the fourth quarter this year,” Dakila said. “There is a chance we may go back to the target [range] even before the fourth quarter.”

Inflation eased for the sixth straight month in July, pulled down by slower year-on-year increases in the prices of food and non-alcoholic beverages, housing, water, electricity, gas and other fuels. From a peak of 8.7 percent in January 2023, inflation eased to 8.6 percent in February, 7.6 percent in March, 6.6 percent in April, 6.1 percent in May and 5.4 percent in June.

By Darwin G. Amojelar

PHILIPPINE Airlines said Friday said it is on a “recovery track” after posting a 194-percent increase in second-quarter net income on the back of higher passenger volume.

The airline unit led by tycoon Lucio Tan booked a net income of $141 million from April to June, almost tripling the $47.9-million profit it earned in the same period last year.

FINTECH INVESTORS. Delegates from the Singapore Fintech Association express interest in exploring business opportunities in the Philippines during a courtesy call on the officials of the Board of Investments on Aug. 9, 2023. Shown are (seated, from left) SFA community engagement and events lead Gwendolyn Loh, Department of Trade and Industry assistant secretary Mary Jean Pacheco, SFA chief operating officer Reuben Lim, BOI management services executive director Maria Veronica Magsino; BOI investments promotion services executive director Evariste Cagatan; Fintech Alliance Philippines founding chair Lito Villanueva, BOI industry development services executive director Ma. Corazon Dichosa of the BOI’s Industry Development Services; and BOI international investment promotion services director Lanie Dormiendo. With them are other executives of SFA and Singapore fintech companies.