MAAS Group slides further after Firmus IPO cancellation, hits six-month low
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BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskBusiness
Aboitiz InfraCapital eyes more investments in airports, digital infrastructure
By Ashley Erika O. Jose, Reporter ABOITIZ InfraCapital, Inc. (AIC) is eyeing more investments in transportation, water and digital infrastructure as it sees opportunities for growth despite geopolitical tensions clouding the outlook. “I think there are still a lot of opportunities in improving our transport, water and digital connectivity. That is where we are continuously looking. We think we have the capability and we can create value,” Aboitiz InfraCapital President and Chief Executive Officer Cosette V. Canilao told BusinessWorld Editor-in-Chief Cathy Rose A. Garcia as part of BusinessWorld One-on-One’s online interview series. AIC, the infrastructure arm of the Aboitiz group, has interests in transportation and mobility, digital infrastructure, and water. Ms. Canilao said AIC is looking to sustain infrastructure investments, particularly in airports, as the private sector must continue investing amid economic uncertainties. “The pipeline building or project should continue and should not stop. Procurement should not stop, especially for infrastructure, as it takes years to plan, secure approvals, and build the infrastructure,” she said, noting that the private capital remained ready for commercially viable projects. Private investments in key projects must continue to keep them on track, as infrastructure planning supports economic growth. However, Ms. Canilao said that frameworks that govern public and private partnership should adapt to the changing environment such as climate change, supply chain, and market conditions. She said that a framework or mechanism must be in place to provide security to private companies to allow contracts to respond to changes. “The frameworks, the infrastructure that we build now would be servicing a very different market condition
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BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskBusiness
House OKs P7.2-T budget amid criticism of spending changes
THE HOUSE of Representatives on Monday approved the proposed P7.2-trillion national budget for 2027, sending it to the Senate amid criticism that billions of pesos in spending changes favor politically driven assistance programs and local projects over essential public services. House Bill No. 10858 passed on third and final reading with 281 votes in favor, 13 against and one abstention. The proposed budget is 6% or P407 billion higher than this year’s P6.793-trillion spending plan. The House Budget Amendments Review Subcommittee identified P116.32 billion in reallocations, including P25.81 billion for the Department of Social Welfare and Development’s Assistance to Individuals in Crisis Situations program. The changes also included P24.97 billion for the Department of Health’s Medical Assistance to Indigent and Financially Incapacitated Patients program. Agriculture received P20.86 billion in recommended reallocations, including P10 billion for the Presidential Assistance to Farmers and Fisherfolk program and P4.96 billion for farm-to-market roads. Education-related reallocations included P1.95 billion for the Department of Education, P3.87 billion for the Commission on Higher Education and P1.44 billion for the Technical Education and Skills Development Authority. The subcommittee also recommended P1 billion for fuel subsidies, which had no allocation in the Executive’s proposed budget. Dinagat Islands Rep. Arlene “Kaka” J. Bag-ao voted against the measure, citing inadequate funding for basic services and preparations for El Niño. “Our automatic debt payments are growing even faster than the funds allocated for hospitals, schools and housing,” she said in Filipino. Ms. Bag-ao also questioned the P100-billion allocation for unprogrammed appropriations, saying the funds
Original sourceBusinessWorld↗
BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskBusiness
OPINION: Uni merger faces tough examination
Australian Institute of Management WA chief executive Gary Martin casts an eye over the role of people in the proposed merger of three WA universities.
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