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Welcome to the Business Outlook. I'm Ron Cruz.

And I'm Savi Duplito.

The headlines.

U.S. futures little changed while European markets are up in afternoon trade.

The Philippine Central Bank keeps interest rates unchanged but raises its inflation forecast for the year.

And Washington tells Beijing it will not accept Chinese imports decimating new industries.

Let's check on European markets first.

They are up as investors gear up for a busy week of economic data and central bank decisions.

That includes the latest policy decision from the European Central Bank on Thursday.

The German DAX is up 0.6% following strong industrial production numbers from the region's biggest economy.

As for Wall Street, futures are flat as Treasury yields rose on rising bets that the U.S. Federal Reserve could delay interest rate cuts this year.

In Focus this week, U.S. consumer and producer prices.

Here are some stocks to watch out for when monitoring shares of TUI.

This as the German Travel Group marks its return to the Frankfurt Stock Exchange.

TUI shares last traded higher by 4%.

Also in Focus.

We're also keeping an eye on shares of French IT consultancy firm Atos after investor Butler Industries joined a consortium to rescue the firm.

Atos shares leapt 23% in midday trading.

We're also keeping a close watch on shares of Volvo Cars after Slovakia secured EU regulators approval to grant $289 million in state aid for Volvo's e-vehicle plant.

Volvo Cars rose 4%.

Finally, we're also keeping an eye on shares of Volvo.

We're also keeping an eye on shares of Volvo Cars rose 4%.

We're also keeping an eye on shares of Tesla after CEO Elon Musk announced the company will unveil its robo-taxi later this year.

Tesla shares are up 3% in pre-market trading.

Meanwhile, Asian markets ended Monday trade mostly higher.

Japan's Nikkei 225 lead gains rebounded from sharp losses last week amid pressure from the yen.

The Shanghai Composite, meanwhile, bucked the upswing as worries over China's property sector rise anew.

That's after the Shimao Group was slapped with a liquidation petition over unpaid debts by a top creditor joining the list of embattled developers in China.

Hong Kong listed shares of Shimao plunged 18.7%.

Here at home, Philippine shares finished flat ahead of the BSP's policy decision which came right before the close of trading hours.

We were expecting the market.

To have to start cutting rates or start cutting rates on the third quarter.

Now that indications might push that back.

There is a little bit of change in the risk.

So we do see that effect happening in the market the past few days.

Yes, we are expecting a 16% growth when it comes to the index index first quarter earnings.

We are expecting a 16% growth this year.

This.

This is compared, however, to the 23 or 26% growth that we saw last year of first quarter.

So there is a little bit of effect.

But we still see a very robust growth.

And we still think that there are some value given this growth.

In notable stock movements, shares of Double Dragon surged 13.5% at the PSE.

That's after it announced its Hotel 101 entered.

into a definitive merger deal with a special-purpose acquisition firm, JVS PAC,

paving the way for a Nasdaq listing in the second half of the year.

The Philippine Central Bank keeps its borrowing rate steady as expected.

Monetary authorities on Monday kept the benchmark rate at 6.5%,

but raised their full-year inflation outlook to 4%.

That's after the measure of consumer prices accelerated

to 4.5%.

And the market was updated for a second straight month in March.

PSP Governor Eli Ramolona says they may be more hawkish in the face of inflationary pressures,

but they're not expecting any further rate tightening.

My sense is that the upside risks mainly have become worse.

So that would make us somewhat more hawkish than before.

So if, I would say,

I would say,

If we were relatively dovish, we might reduce rates in the third quarter and that would be by no more than 25 basis points but now we're feeling a bit more hawkish than before so I would say we're not going to do it by the third quarter.

We may do it down the road. We're contemplating easing, we're not contemplating any further tightening.

Remo Lona also notes the Central Bank is keeping an eye on the price of rice. Rice inflation soared to a 15-year high of 24.4% in March.

If I were to name one single commodity, it would be rice and rice prices. They're not only very significant this time, they also are what we call salient prices.

They get noticed.

They get noticed and they tend to affect expectations more than other commodities.

The ASEAN Plus 3 Macroeconomic Research Office keeps its positive outlook on the Philippines this year.

In their regional outlook report, AMRO economists retained 6.3% their growth forecast for Manila this year.

This projection, if met, would make the country among the fastest growing in Southeast Asia.

AMRO also sees the Philippine economy expanding further in 2025 to 6.5%.

It says the manufacturing and tourism sectors will drive the growth in the country this year as they benefit from a boost in demand.

Within the bloc, which includes China, Japan and South Korea, AMRO says growth could be at 4.5% after a 4.3% expansion last year.

Another local corporate headlamp.

This line, Century Pacific Foods' bottom line, grew to 5.6 billion pesos last year thanks to a resilient top line and favorable commodity prices, which offset the effects of inflation.

Its branded businesses saw double-digit growth led by milk and other emerging segments, as well as steady performance of its core marine and meat brands.

Meanwhile, Boulevard Holdings says sales in its Friday's Puerto Galera resorts more than quadrupled in March to 5.8%.

This brings its total sales for the 10-month period ending March to 26.5 million.

That's double the amount year-on-year.

And finally, Friday, Security Bank enters a joint venture with Mitsubishi Motors to offer financing services to the carmaker's Philippine customers.

Mitsubishi Motors Finance is expected to begin operations in 2025, with Mitsubishi holding 51% ownership and Security Bank 49%.

Washington will not accept new industries being decimated by Chinese imports.

That warning from U.S. Treasury Secretary Janet Yellen as she wrapped up four days of meetings in China.

Yellen said President Joe Biden will not allow a repeat of the so-called China shock of the early 2000s when a flood of Chinese imports destroyed about 2 million American manufacturing jobs.

Yellen used her second trip to China in nine months to press her case.

She has met with China's central bank governor, finance minister, and premier during her trip.

And when the global market is flooded by artificially cheap Chinese products, the viability of American and other foreign firms is put into question.

And we've seen this story before.

Over a decade ago...

Massive PRC government support led to below-cost Chinese steel that flooded the global market and decimated industries across the world and in the United States.

Our concerns are not U.S. concerns alone, but also reflect the views of our allies in Europe, in Japan, and in developing emerging markets.

Mexico.

India, among others.

So this is a widespread set of concerns.

We're taking a quick break.

Up next, the Panama Papers tax evasion scandal begins.

That and more when Business Outlook returns.

The trial for the 2016 tax evasion scandal in Panama is opening after eight years in the former haven for offshore financial activities.

The 27 defendants due in court Monday include the founders of the now-defunct law firm at the epicenter of the controversy.

The Panama Papers scandal exposed a global phenomenon of wealthy individuals hiding their assets in offshore companies.

The leaked documents implicated influential figures, including billionaires and politicians.

Panama has remained on the EU's tax haven blacklist since, despite adopting a new law in the wake of the scandal.

Philippine Weather Bureau Pagasa says 31 provinces nationwide are experiencing meteorol...

meteorol...

meteorol...

meteorological drought due to the El Nino.

In its latest advisory, Pagasa says 19 provinces in Luzon, 11 in Visayas, and 1 in Mindanao are experiencing drought.

Meanwhile, 13 provinces are experiencing dry spells, while 15 others are seeing dry conditions.

A government task force warns the whole country will feel the effects of the El Nino phenomenon by the end of this month.

Nearly 20 local governments have declared a state of calamity.

Due to the weather phenomenon with damage to agriculture, climbing to at least 2.6 billion pesos.

By the end of April, 80 out of the 82 provinces, more or less, meron ng efekto yung El Nino sa kanya.

Pero hindi ibig sabihin nun na lahat ng sakahan mapipintala, lahat ng water reservoir o yung sources of water ay matutuyo.

Pero dahil nga sa init na nararanasan natin,

kahit pa paano, masasabi natin, apektado na yung buong bansa.

Ipagpaliban po muna yung maintenance at saka yung paglilinis po ng swimming pools hanggat maaari.

Again, makiusap po ito, hindi po ito pagbabawal.

Pero po kasi talaga, kapag maglinis tayo kahit ng isang swimming pool, napakalaking konsumo po nun sa tubig.

The Philippines' labor secretary calls for measures from companies

to help workers cope with extreme heat.

Secretary Bienvenido Languesma suggested Monday that firms improve ventilation in the workplace

and implement an office attire policy suitable for the temperature.

For workers out in the field, the labor chief says, companies should consider breaks during extreme heat.

Kung sobrang init siguro, dapat naman ay medyo makapagpahinga ang ating mga manggagawa.

At yun naman, alam naman po natin na hindi mo makapagpahinga.

At yun naman, alam naman po natin na hindi mo makapagpahinga.

Hindi naman siguro malaking kapawasan doon sa pagpapatuloy ng operasyon ng mga kumpanya.

In fact, napuproteksyonan po nila ang kalagayan at kalusugan ng kanilang mga manggagawa.

President Marcos Jr. leads the ceremonial energization of the long-awaited Cebu-Negros-Panay subgrid.

The P67.9 billion project aims to improve the reliability of power transmission in the western and central Visayas regions.

It will also dispatch excess capacities from Mindanao to meet the growing power demand in the Visayas region.

Marcos urged private generators and other stakeholders of the energy sector to invest in the new subgrid

to boost regional development and meet the region's long-term electricity demands.

While the CNP is a major step forward, I implore all our stakeholders in the Visayas to strategically adopt the P67.9 billion project.

and the Visayas to strategically adopt the P67.9 billion project.

identify suitable locations that will host new baseloid generation plants

as well as renewable energy and energy storage systems.

This will bolster energy sufficiency and sustainability in Negros and Panay.

President Marcos calls out the lack of discipline in Philippine roads.

This is as he vows to address the traffic woes plaguing the country.

In his vlog Sunday, Marcos said government officials should be an example

when it comes to being disciplined drivers and pedestrians.

The president also underscored the importance of provincial development

to solve congestion in the capital region.

Notorious na sa buong mundo ang traffic dito sa Pilipinas.

Congested ang Metro Manila.

Kung kaya bahagi talaga ng pagpaplano ay may develop ang mga kalapit probinsya at siyudad.

Ang higit nakakulangan natin mga Pilipino sa daan ay ang disiplina.

Dapat susunod tayo sa traffic rules para tayong mauubusan lagi ng kalye.

Philippine Land Transport Regulator, LTF,

clarifies it will only halt the expansion of motorcycle taxis within Metro Manila.

Its chairman, Teofilo Guadi, says the Transport Department ordered them to stop adding slots in Metro Manila

since their pilot study on the transport mode needs to cover other areas in the country.

The agency plans to allot 8,000 more slots for motorcycle taxi operators in Regions 3, 4, and 11.

Initially, yung mga first three groups that were awarded,

namely Angkas, Joyride, and Movid, have a combination of 45,000 for Metro Manila.

After that, we submitted the results of our study sa Congress already with a conclusion.

Ang sabi mo ng Kongreso, we have to expand our study.

We have to expand our study.

Tatulog lang yung participants and it's only Metro Manila, Cebu, and Cagayan de Oro.

Filipino students learned tricks of the trade behind starting a business in a summit in Pasig City.

Jackie Pascual tells us all about that in this report.

The Philippine Education Department and non-profit group Go Negosyo have partnered to mentor students on entrepreneurship.

In Pasig, they organized the Youthpreneur Summit.

To equip senior high school learners of Rizal High School with basic information on how to start the business and how to sustain it.

To cultivate a culture of innovation and equip the next generation with essential life skills,

it is imperative to introduce entrepreneurship education at an early age.

Students were given partner mentors or business owners who gave them tips on running a business.

From the planning staff.

From the stage to product development, up to marketing and packaging.

Go Negosyo founder Joey Concepcion says,

small and medium-sized enterprises or SMEs are the backbone of the economy

and there is a need to strengthen it further.

The only way to propel our economy is to teach our young kids to be enterprising.

Whether what I call it entrepreneurial, which is working for somebody in a company,

but being entrepreneurial-minded or becoming a negosyante.

One of the students who joined the summit is 18-year-old Luke,

who started a donut business last year but had to stop because of low sales after just a few months.

Now he wants to learn more to avoid the mistakes he may have committed.

Gusto ko malaman kung kanino siya pwedeng i-market, kung sa mga matatanda po ba,

sa mga bata po ba na gusto ng sweets, yung mga ganun po.

Magkaroon po kami ng sarili.

And makilala po yung mini-donuts namin.

Vice President and Education Secretary Sara Duterte tells students,

they cannot depend on salary alone, especially if they want to buy things that may not necessarily be a need.

Paano ba tayo magkakaroon ng pera? Magtatrabaho tayo.

Mabibigyan tayo ng sweldo. Pero yung sweldo natin hindi lumalaki.

Paano natin palaguin, paramihin ang pera natin?

Doon sa negosyo.

GoNegosyo now plans to go to other schools and cities to mentor the younger population

on how to become effective business owners to help their families and the economy as a whole.

Jackie Pascual, ABS-CBN News.

And before we go, here's what we can expect on Market Edge tomorrow at 9am.

Michelle Ong will be talking with Boholan artist Elvin Vitamil.

And Tor, who is set to receive the prestigious Leonardo da Vinci International Art Prize later this month.

And China Bank Capital's Managing Director J.P. Colette will give his market outlook for the week

with the local boards closed on Tuesday and Wednesday.

That's your business outlook. I'm Ron Curl.

And I'm Savi Duplito.

The world tonight comes your way at the top of the next hour.

Keep it here on ANC.

Thank you for watching.