Business
SM Investments to invest in underserved areas to trickle down growth
April 24, 2024, 7:46 pm
MANILA – Listed firm SM Investments Corp. (SMIC) will focus its expansion in the provinces, helping the government to trickle down the country’s strong economic growth. During SMIC’s annual stockholders’ meeting in Pasay City on Wednesday, SMIC president and chief executive officer… Read More
Budget deficit narrows in March
April 24, 2024, 7:30 pm
MANILA – The national government's budget deficit narrowed to PHP195.9 billion in March this year from PHP210.3 billion a year ago, data from the Bureau of the Treasury (BTr) released on Wednesday showed. The BTr said the lower budget gap during the month was on the back of 11.32 percent… Read More
PSEi continues to rebound; peso closes sideways
April 24, 2024, 5:47 pm
MANILA – The local stock market continued to rebound on Wednesday, closing near the 6,600 level, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) gained 65.95 points, closing at 6,572.75, while the broader All Shares also rose 16.56 points to 3,463.46. "Philippine shares… Read More
PLDT expands deployment of forest monitoring system in Palawan
April 24, 2024, 4:31 pm
MANILA – Telecommunications firm PLDT has joined stakeholders in the government and private sectors in the deployment of a monitoring system in the forests of Taytay, Palawan to identify illegal activities in the area such as illegal logging. In a statement on Wednesday, PLDT said the… Read More
Japanese contractor to buy 25% equity stake in Rizal Green Energy
April 24, 2024, 4:25 pm
MANILA – Taisei Corp., one of the largest contractors in Japan, is buying a 25-percent share in a subsidiary of Yuchengco-led PetroGreen Energy Corp. (PGEC) as part of its investment in renewable energy (RE) here. In a statement Wednesday, PGEC said it signed an investment framework and… Read More
BCDA doubles remittance to nat'l gov't in 2024
April 24, 2024, 4:15 pm
MANILA – The Bases Conversion and Development Authority (BCDA) reported on Wednesday that it has doubled its remittance to the Bureau of the Treasury (BTr) in 2024 compared to the dividends remitted in 2023. The BCDA remitted PHP1.1 billion this year, higher than the PHP527 million worth of… Read More
NEDA hopeful on PH's economic growth expansion in 2024
April 24, 2024, 12:00 am
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan is optimistic that despite risks, the growth of the Philippines will continue to be one of the fastest in the region this year. "Let's put it this way, all the major development observers are seeing a 6… Read More
First Gen renews power deal with Murata for 100% RE supply
April 23, 2024, 9:19 pm
MANILA – Lopez-led First Gen Corp. has renewed its power supply agreement with Japanese electronics manufacturer Murata to energize its Batangas plant with 100-percent renewable energy. In a statement Tuesday, First Gen said its subsidiary Energy Development Corp. (EDC), which operates the… Read More
PH eyes joining US, Japan critical mineral deal
April 23, 2024, 7:55 pm
MANILA – The Philippines eyes to join the critical minerals agreement between the United States and Japan, therefore forming a trilateral partnership. In a recent interview, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said this was proposed during the meeting of top trade… Read More
PSEi back to 6,500-level, peso on sideways
April 23, 2024, 7:47 pm
MANILA – The Philippine Stock Exchange index (PSEi) took positive cues from Wall Street overnight, bringing back the local index to the 6,500-level, while the peso closed Tuesday sideways. The PSEi increased by 0.97 percent to 6,506.80, with All Shares also gaining by 0.62 percent to close at… Read More
PH eyes hosting loss, damage fund board to access climate finance
April 23, 2024, 6:44 pm
MANILA – The Philippines is eyeing to host the Loss and Damage Fund (LDF) Board which will allow the country to access more climate financing. In a statement on Tuesday, the Department of Finance (DOF) said President Ferdinand R. Marcos Jr. created an interagency technical working group to lead… Read More
OceanaGold: Permits, endorsements secured for mine contract renewal
April 23, 2024, 5:46 pm
MANILA – OceanaGold Philippines Inc. (OGPI) said on Tuesday it has complied with all the necessary requirements needed to be able to secure a permit to extend the operations of its Didipio gold and copper mine in Nueva Vizcaya. In a statement, the company said it has yet to receive a copy of a… Read More
BTr partially awards re-issued Treasury bonds
April 23, 2024, 3:54 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for the re-issued 20-year Treasury bonds (T-bonds). With a remaining term of 19 years and 10 months, the re-issued bond fetched an average rate of 7.017 percent, higher than the previous 20-year T-bond auction yield at 6.189… Read More
Tight power supply anew in Luzon, Visayas grids
April 23, 2024, 3:49 pm Updated on April 23, 2024, 7:51 pm
MANILA – Two days after Luzon and Visayas grids went back to normal operations, the National Grid Corporation of the Philippines (NGCP) on Tuesday declared yellow alert status again on these islands. In an advisory this afternoon, the NGCP said it placed the Luzon grid under yellow alert from 1… Read More
NEDA seeks higher budget for Innovation Fund for 2025
April 22, 2024, 10:01 pm
MANILA – The National Economic and Development Authority (NEDA) on Monday said it will seek a bigger budget for its innovation fund next year, a portion of which will be used for an innovation competition. NEDA Undersecretary Rosemarie Edillon told reporters on the sidelines of the 2024 National… Read More
PBBM’s directive on imports boosts stock investors; peso ends strong
April 22, 2024, 9:36 pm
MANILA – The directive of President Ferdinand R. Marcos Jr. to ease the importation of agricultural products has boosted investors' sentiment on Monday, bringing back the local index to the green territory, while the peso closed strong at the start of the week. The Philippine Stock Exchange… Read More
Buffer stocking of agri products eyed to counter price manipulation
April 22, 2024, 9:34 pm
MANILA – The Department of Agriculture (DA) has proposed during the National Price Coordinating Council (NPCC) meeting a maximum of 10 days buffer stock of agricultural products to counter illegal price manipulation. In a press conference after the NPCC meeting at the Department of Trade and… Read More
NEDA backs proposal to extend RCEF
April 22, 2024, 6:56 pm Updated on April 22, 2024, 7:12 pm
MANILA – The National Economic and Development Authority (NEDA) is supporting the proposal to extend the Rice Competitiveness Enhancement Fund (RCEF) beyond 2024. "I'm fine. I'm okay with that, " NEDA Secretary Arsenio Balisacan told reporters on the sidelines of the 2024 National Innovation Day… Read More
Over $700M invested in PH digital banking sector
April 22, 2024, 5:46 pm
MANILA – The Philippine digital banking sector already received more than USD700 million investments from global and local investors since 2021. In a statement on Monday, the Digital Bank Association of the Philippines (DiBA PH) said the number of depositors also grew to 5.9 million as of… Read More
PEZA registers P15-B projects in April
April 22, 2024, 5:19 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has registered 23 new projects worth PHP15 billion in April 2024 alone. The investment approvals for this month were higher than the total project registrations from January to March 2024 amounting to PHP14.95 billion. In a statement Monday,… Read More
