Business

DTI chief says 'Tatak Pinoy' crucial in PBBM’s industrial policy

DTI chief says 'Tatak Pinoy' crucial in PBBM’s industrial policy

July 15, 2024, 8:43 pm

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the “Tatak Pinoy” initiative is a cornerstone of the government’s industrialization strategy. During a forum at Philippine International Convention Center in Pasay City on Monday, Pascual emphasized the role of… Read More

PSEi strong, peso weak on Monday

PSEi strong, peso weak on Monday

July 15, 2024, 7:52 pm

MANILA – The local index closed the day stronger as investors kept their hopes up that the Bangko Sentral ng Pilipinas (BSP) is on track to cutting policy rates as early as August. In Monday’s trading, the Philippine Stock Exchange index (PSEi) increased by 0.62 percent to 6,689.37, while All… Read More

Remittances from overseas Filipinos up over 3% in May 

Remittances from overseas Filipinos up over 3% in May 

July 15, 2024, 7:50 pm

MANILA – Personal remittances from overseas Filipinos (OFs) went up by 3.7 percent in May this year, the Bangko Sentral ng Pilipinas (BSP) said. Data released by the BSP on Monday showed that personal remittances from OFs during the month rose to USD2.88 billion from USD2.78 billion in May 2023.… Read More

DOF: Mobilizing unused GOCC funds better than imposing new taxes

DOF: Mobilizing unused GOCC funds better than imposing new taxes

July 15, 2024, 5:48 pm

MANILA – The Department of Finance (DOF) on Monday said utilizing unused government-owned and controlled corporation (GOCC) funds for public programs is a more prudent fiscal option than borrowing more or imposing new taxes. The DOF made the statement after health reform advocates earlier… Read More

ATA Carnet in PH now online

ATA Carnet in PH now online

July 15, 2024, 5:07 pm

MANILA – The Philippines started the implementation of the ATA Carnet System on Monday, joining over 80 countries and customs territories that use this trade facilitation tool. As the Philippines now uses the “passport of goods”, this will allow exporters to enjoy duty- and value-added… Read More

BTr raises PHP22.6-B from T-bills auction 

BTr raises PHP22.6-B from T-bills auction 

July 15, 2024, 3:57 pm

MANILA – The Bureau of the Treasury (BTr) on Monday raised more than the initial offering of PHP20 billion during the Treasury bills (T-bills) auction. "The auction was 2.3 times oversubscribed, attracting P46.7 billion in total tenders. As a result, the committee decided to double the accepted… Read More

Oil price rollback set July 16

Oil price rollback set July 16

July 15, 2024, 1:51 pm

MANILA – Pump prices will be lower by as much as PHP1.15 per liter on July 16, driven by falling crude prices in the global market, snapping its four-week rally. Oil companies announced in separate advisories on Monday they will cut gasoline prices by PHP0.60 per liter and PHP0.95 per liter for… Read More

Hefty increase in Meralco rate in July

Hefty increase in Meralco rate in July

July 15, 2024, 1:46 pm

MANILA – Residential customers of the Manila Electric Company (Meralco) consuming 200 kilowatt hours (kWh) a month should expect around a PHP430 increase in their electricity bill this month. Meralco announced Monday that power rate in its franchise areas in July increased by PHP2.1496 per kWh,… Read More

PEZA approves more projects in H1 2024

PEZA approves more projects in H1 2024

July 14, 2024, 2:27 pm

MANILA — The Philippine Economic Zone Authority (PEZA) reported higher number of projects registered in the first half of the year. From January to June, PEZA registered 120 projects, which was 18 percent higher than the 102 projects it approved in the same period in 2023. “The approval of… Read More

Power subsidy for investors eyed in CREATE MORE bill

Power subsidy for investors eyed in CREATE MORE bill

July 14, 2024, 1:11 pm

CAPAS, Tarlac — The government is pushing for additional power subsidies to investors to entice more foreign direct investments (FDIs) into the country, Department of Energy Undersecretary Felix William Fuentebella said in a recent forum here. He said economic managers are considering the policy… Read More

New Clark City lures P143-B investments

New Clark City lures P143-B investments

July 12, 2024, 8:30 pm

CAPAS, Tarlac – Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Joshua Bingcang said the New Clark City has attracted PHP143.22 billion worth of investments since its masterplan was finalized in 2017. During the Build Better More Infrastructure Forum here… Read More

DTI urges cement manufacturers to get Tatak Pinoy certification

DTI urges cement manufacturers to get Tatak Pinoy certification

July 12, 2024, 7:04 pm

MANILA – The Department of Trade and Industry (DTI) has urged local cement manufacturers to apply for Tatak Pinoy certification as the government promotes Philippine-made products, especially in government procurement. On Friday, the DTI said in a statement that it awarded the first Domestic… Read More

Stocks continue to rebound, peso flat on Friday

Stocks continue to rebound, peso flat on Friday

July 12, 2024, 6:38 pm

MANILA – The local stock market continued to rebound on Friday as investors got assurance that the Fed will likely cut rates, while the peso stayed flat. The Philippine Stock Exchange index (PSEi) went up by 38.99 points to 6,648.23, while All Shares also gained 20.54 points to 3,576.22. "The… Read More

CIAC: Phase 1 of P8.5-B Nat'l Food Hub done by 2027

CIAC: Phase 1 of P8.5-B Nat'l Food Hub done by 2027

July 12, 2024, 4:45 pm

MANILA – The Clark International Airport Corp. (CIAC) said the first phase of the PHP8.5-billion National Food Hub at the Clark Airport Complex is expected to be completed by the end of 2027. "Included in Phase 1 are the cold storage facilities. Then the administrative offices of the ones that… Read More

Bank lending, domestic liquidity up in May

Bank lending, domestic liquidity up in May

July 12, 2024, 4:10 pm

MANILA – Bank lending of universal and commercial banks (U/KBs) and domestic liquidity grew faster in May this year, the Bangko Sentral ng Pilipinas (BSP) said Friday. Preliminary data released by the BSP showed that banks' outstanding loans, excluding those placed in the central bank’s… Read More

BSP issues advisory against scams

BSP issues advisory against scams

July 12, 2024, 4:02 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) on Friday reminded the public to be more vigilant against scams using artificial intelligence (AI) to create or manipulate fake videos and audio to make them appear more believable. "Perpetrators of these fraudulent activities post AI-manipulated… Read More

Private construction seen to return to pre-Covid level next year

Private construction seen to return to pre-Covid level next year

July 12, 2024, 2:49 pm

CAPAS, Tarlac – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said private construction may return to pre-pandemic level next year with the easing of inflation and interest rates. At the Build Better More Infrastructure Forum here Friday, Balisacan said the… Read More

PH vehicle sales up 11.8% in H1 2024

PH vehicle sales up 11.8% in H1 2024

July 12, 2024, 10:59 am

MANILA – Automotive vehicle sales in the country improved by 11.8 percent from January to June 2024 to 226,279 units from 202,415 units in the same period in 2023. The joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association… Read More

BOI okays nearly P1-T projects in H1 2024

BOI okays nearly P1-T projects in H1 2024

July 11, 2024, 9:29 pm

MANILA – The Board of Investments (BOI) has already approved nearly PHP1 trillion worth of projects in the first six months of the year, the agency reported on Thursday. The BOI said in a statement that investment approvals from January to June 2024 jumped 36 percent to PHP950 billion from… Read More

Echelon’s startup confab to debut in PH

Echelon’s startup confab to debut in PH

July 11, 2024, 8:53 pm

MANILA – Singapore-based tech and startup media platform e27 is bringing the Echelon business conference in the Philippines for the first time. Happening on Sept. 26 to 27 at the SMX Convention Center Manila, Echelon Philippines 2024 brings together startup founders, entrepreneurs, investors,… Read More