Business

BOC-Legazpi eyes P1-B monthly as int'l container line starts ops

BOC-Legazpi eyes P1-B monthly as int'l container line starts ops

February 22, 2024, 9:55 am

LEGAZPI CITY – The Bureau of Customs (BOC)-Port of Legazpi announced on Wednesday that the first international container line in Bicol will start its operations in March and eyed to bring PHP1 billion monthly collection.  Segundo Sigmund Freud Barte Jr., Bureau of Customs (BOC) acting district… Read More

Recto: G-24 states must double efforts for sustainable dev't goals

Recto: G-24 states must double efforts for sustainable dev't goals

February 21, 2024, 8:55 pm

MANILA – Finance Secretary Ralph Recto on Wednesday urged member states of the Intergovernmental Group of Twenty-Four (G-24) to reclaim their lost momentum through heightened cooperation and scaled-up support from international financial institutions. In his opening remarks for the G-24… Read More

KMC Savills sees increased demand for Pag-IBIG housing loans

KMC Savills sees increased demand for Pag-IBIG housing loans

February 21, 2024, 8:30 pm

MANILA – Real estate brokerage and consultancy firm KMC Savills said on Wednesday that most middle-market consumers now opt to avail of housing loans from Pag-IBIG Fund to finance their dream homes outside Metro Manila. "What we've seen is that because of the high interest rates, more and more… Read More

PH auto industry sets conservative 468K-unit sales target in 2024

PH auto industry sets conservative 468K-unit sales target in 2024

February 21, 2024, 7:54 pm

MANILA – The local automotive industry has set a conservative target for 2024 but remained hopeful to hit the 500,000 mark this year. Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) president Rommel Gutierrez said in a statement Wednesday that the industry targets sales of… Read More

2023 earnings, foreign buyers lift PSEi as peso strengthens

2023 earnings, foreign buyers lift PSEi as peso strengthens

February 21, 2024, 7:08 pm

MANILA – Results of the 2023 earnings of listed firms and activities from foreign buyers lifted the local bourse on Wednesday, while the peso also strengthened finishing at 55-level. The Philippine Stock Exchange index (PSEi) improved by 42.70 points to 6,897.36, with All Shares closing higher… Read More

Amazon to join Dow Jones Industrial Average, replace Walgreens

Amazon to join Dow Jones Industrial Average, replace Walgreens

February 21, 2024, 5:29 pm

ISTANBUL – Amazon.com Inc. will replace Walgreens Boots Alliance Inc. in the Dow Jones Industrial Average (DJIA), S&P Dow Jones Indices announced Tuesday. "Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas… Read More

Concepcion proposes staggered rollout of P100 wage hike

Concepcion proposes staggered rollout of P100 wage hike

February 21, 2024, 3:31 pm

MANILA – Private Sector Advisory Council (PSAC) head for jobs and Go Negosyo founder Joey Concepcion on Wednesday suggested the proposed PHP100 wage hike should be implemented on a staggered basis and not just in one go. In an interview with Bagong Pilipinas Ngayon, Concepcion said the past… Read More

DTI-Bulacan targets 20 villages for ‘Gabay' business dev't program

DTI-Bulacan targets 20 villages for ‘Gabay' business dev't program

February 21, 2024, 3:29 pm

CITY OF MALOLOS – The Department of Trade and Industry (DTI) Bulacan Provincial Office is targeting 20 barangays in the province covering all the congressional districts to implement the “Gabay sa Barangay: Enterprise Development Program”. In a statement on Wednesday, Emmanuel Caleon,… Read More

BSP, PDIC sign revised deal on info exchange

BSP, PDIC sign revised deal on info exchange

February 21, 2024, 3:00 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC) have signed a revised memorandum of agreement (MOA) on information exchange. In a statement on Wednesday, the BSP said the revised MOA, signed on Feb. 8 by BSP Governor Eli Remolona Jr. and… Read More

PH, UK discuss possible areas of cooperation

PH, UK discuss possible areas of cooperation

February 21, 2024, 12:45 pm

MANILA – Finance Secretary Ralph Recto recently met with United Kingdom (UK) Prime Minister’s Trade Envoy to the Philippines Richard Graham and UK Ambassador to the Philippines Laure Beaufils to discuss how to deploy the UK Export Finance’s GBP4 billion (PHP287 billion) worth of development… Read More

Ayala Land sets P100-B capex in 2024 as property outlook remains rosy

Ayala Land sets P100-B capex in 2024 as property outlook remains rosy

February 21, 2024, 9:34 am

MANILA – Ayala Land, Inc. (ALI) has set PHP100 billion in capital expenditure (capex) this year as its outlook in the property sector remains rosy, especially in the high-end market. In a press briefing Tuesday, ALI chief finance officer Augusto Bengzon said 34 percent of this year’s capex… Read More

First climate-controlled tulip farm in Asia blooms in PH

First climate-controlled tulip farm in Asia blooms in PH

February 20, 2024, 9:49 pm

MANILA – Phinl Corp., a Danish-Filipino enterprise, is now growing tulips in the Philippines through a climate-controlled farm, the Board of Investments (BOI) said Tuesday. Phinl has registered its PHP157.4-million climate-controlled tulip farm in Maddela, Quirino Province, according to BOI… Read More

Stable food prices expected in Romblon amid ample agri production

Stable food prices expected in Romblon amid ample agri production

February 20, 2024, 8:41 pm

ROMBLON, Romblon – The Philippine Statistics Authority (PSA) here forecasts a continued deceleration in the province’s inflation numbers on expectations of an ample harvest in the remainder of the first quarter. In an interview on Tuesday, Johnny Solis, chief statistical specialist at… Read More

Local shares rebound, peso ends sideways

Local shares rebound, peso ends sideways

February 20, 2024, 8:03 pm

MANILA – The local stock barometer rebounded on Tuesday after a two-day decline, while the peso ended sideways against the US dollar. The Philippine Stock Exchange index (PSEi) improved by 56.05 points to 6,854.66, with All Shares gaining 19.09 points at 3,581.70. “The positive sentiment was… Read More

CIAC targets PHP1-B revenues in 2 years

CIAC targets PHP1-B revenues in 2 years

February 20, 2024, 6:08 pm

MANILA – The Clark International Airport Corp. (CIAC) targets to breach the PHP1-billion mark in revenues within the next two years, president and chief executive officer Arrey Perez said. CIAC eyes its revenues to hit PHP750 million this year, increasing by 10 percent from PHP680 million in… Read More

Economic team to integrate gov’t efforts to attract more investments

Economic team to integrate gov’t efforts to attract more investments

February 20, 2024, 6:07 pm

MANILA – The country's Economic Development Group (EDG) continues to harmonize efforts to further attract foreign investors to the Philippines, the National Economic and Development Authority (NEDA) said. In a statement Monday, NEDA, which is the EDG secretariat, said the commitment was made… Read More

117 PPP projects in pipeline

117 PPP projects in pipeline

February 20, 2024, 5:38 pm

MANILA – The Public-Private Partnership (PPP) Center currently has 117 projects worth PHP2.5 trillion in the pipeline for undertaking between the government and private sector. "This is as of February 2. Particularly, we have a bulk of the projects still in the transportation sector because we… Read More

PH posts $740-M balance of payments deficit in January

PH posts $740-M balance of payments deficit in January

February 20, 2024, 10:15 am

MANILA – The country's overall balance of payments (BOP) position posted a deficit of USD740 million in January 2024, a reversal from the USD3.1 billion BOP surplus recorded in the same month last year, the Bangko Sentral ng Pilipinas (BSP) said. "The BOP deficit in January 2024 reflected… Read More

German firm eyes PH as takeoff point for 'flying cars' in ASEAN

German firm eyes PH as takeoff point for 'flying cars' in ASEAN

February 20, 2024, 9:17 am

MANILA – German air mobility firm Lilium is mulling to establish in the Philippines its first Southeast Asia operation network for its all-electric vertical take-off and landing (eVTOL) jets. Lilium and local aviation services company PhilJets will sign a memorandum of understanding (MOU) at the… Read More

PEZA approvals up 19% to P12-B in Jan-Feb 2024

PEZA approvals up 19% to P12-B in Jan-Feb 2024

February 19, 2024, 10:04 pm

MANILA – The Philippine Economic Zone Authority (PEZA) reported Monday that its investment approvals in the first two months of the year increased by 18.66 percent to PHP12.10 billion from PHP10.19 billion in the same period in 2023. These projects came from 28 new and expansion projects that… Read More