Business
PSEi ends in red, peso strengthens on Friday
October 11, 2024, 5:58 pm
MANILA – The Philippine Stock Exchange index (PSEi) closed in the red territory, while the local currency finished strong on the last trading day for this week. The PSEi shed 1.37 percent closing at 7,310.32 points and All Shares also went down by 0.55 percent to 4,015.16. All sectoral indices… Read More
Tax, customs collections up Jan-Sept 2024
October 11, 2024, 5:22 pm
MANILA – Collections of the Bureau of Internal Revenue (BIR) recorded a double-digit growth while the Bureau of Customs (BOC) posted a 4-percent rise during the first three quarters of the year. In a Facebook post on Friday, the Department of Finance (DOF) said preliminary data from January to… Read More
NEDA confident inflation will settle within target in 2024
October 11, 2024, 5:08 pm
MANILA – The National Economic and Development Authority (NEDA) is confident that inflation will settle within the government's target this year. "So, if you would recall, ang target natin is between 2 and 4 percent na average for the year at, yes, malaki ang tiwala namin na talagang mahi-hit… Read More
DOF Revenue Office secures 3rd ISO certification
October 11, 2024, 5:07 pm
MANILA – The Department of Finance's (DOF) Revenue Office (RO) and support offices recently secured their third International Organization for Standardization (ISO) certification. In a statement on Friday, the DOF said an ISO certification validates that a management system, manufacturing… Read More
Eastern Visayas posts 1.8% inflation, lowest in 5 years
October 11, 2024, 5:02 pm
TACLOBAN CITY – Eastern Visayas recorded its lowest inflation rate in the past five years at 1.8 percent in September, primarily driven by a decrease in food prices, the Philippine Statistics Authority (PSA) reported on Friday. The downtrend was influenced by the slower inflation rate for food… Read More
APECO Grand Lagoon to create tourism, economic activities in Aurora
October 11, 2024, 4:13 pm
CASIGURAN, Aurora – The Aurora Pacific Economic Zone and Freeport Authority (APECO) will start the development of its new tourist attraction inside the ecozone to attract tourists and create economic activities in the province, particularly in the Dinalungan, Casiguran, and Dilasag (DiCaDi)… Read More
World Bank OKs $287-M funding for PH's digital infra project
October 11, 2024, 3:13 pm
MANILA – The World Bank's Board of Executive Directors has approved the 268.22 million-euro (USD287.24 million) funding for the Philippines Digital Infrastructure Project. In a statement on Friday, the World Bank said the project which is expected to benefit 20 million Filipinos, aims to improve… Read More
Meralco rates lower by 36 centavos/kWh in Oct.
October 11, 2024, 1:45 pm
MANILA – After three straight months of power rate hikes, the Manila Electric Company (Meralco) on Friday announced lower electricity rates in October. In a statement, Meralco said the rate this month will decrease by PHP0.3587 per kilowatt hour (kWh) to PHP11.4295 per kWh from PHP11.7882 per… Read More
Add'l 60K to 80K jobs in PEZA zones eyed this year
October 10, 2024, 8:41 pm
MANILA – The Philippine Economic Zone Authority (PEZA) targets to add 60,000 to 80,000 jobs this year within its ecozones across the country. In an interview with Bagong Pilipinas Ngayon Thursday, PEZA Director General Tereso Panga said the investment promotion agency (IPA) currently has… Read More
Peso’s weakness drags local shares
October 10, 2024, 6:54 pm
MANILA – The local bourse extended its shedding amid profit-taking as the peso depreciated against the US dollar on Thursday. The Philippine Stock Exchange index (PSEi) fell 0.18 percent to 7,411.47, while All Shares gained 0.10 percent to close at 4,037.52. Counters were mixed with gainers,… Read More
DTI to launch info, monitoring system for FTAs
October 10, 2024, 5:26 pm
MANILA – The Department of Trade and Industry (DTI) will launch this year an online platform to monitor the country’s utilization of its free trade agreements (FTAs). In an interview early this week, DTI-Export Marketing Bureau Director Bianca Pearl Sykimte said the agency is now putting up… Read More
DOF vows to help LGUs enhance local fiscal management
October 10, 2024, 3:28 pm
MANILA – The Department of Finance (DOF) said its Bureau of Local Government Finance (BLGF) is rolling out a project to harmonize policy direction and enhance local fiscal management, particularly in the valuation and appraisal of real properties through digitalization. In a statement on… Read More
Bicol inflation rate falls to 2.8% in September
October 10, 2024, 2:38 pm
LEGAZPI CITY – The inflation rate in Bicol region slowed down to 2.8 percent in September from 4.2 percent in August, the Philippine Statistics Authority (PSA) 5 (Bicol) said Thursday. Based on the summary inflation report showed during a press conference at the agency's regional office here,… Read More
FDI net inflows rose to 5-month high in July
October 10, 2024, 2:37 pm
MANILA – Foreign direct investment (FDI) net inflows rose to a five-month high of USD820 million in July this year, the Bangko Sentral ng Pilipinas (BSP) said. BSP data released on Thursday showed that the FDI net inflows during the month went up by 5.5 percent from the USD778 million net… Read More
Total external trade up 1.8% in August
October 10, 2024, 1:13 pm
MANILA – The country's total external trade in goods went up 1.8 percent to USD17.87 billion in August from USD17.56 billion in the same month in 2023, the Philippine Statistics Authority (PSA) said. Data released by the PSA on Thursday showed that of the total external trade during the month,… Read More
PH pharma players urged to shift to 2D barcodes to combat fake meds
October 9, 2024, 5:53 pm
MANILA – Local pharmaceutical industry players were urged to adopt 2D barcodes, which include Quick Response (QR) codes, as a measure to fight the spread of counterfeit medicines and medical supplies in the domestic market. This measure is important as the country remains on the radar of the… Read More
ADB soon to OK loan for Laguna Lakeshore, climate resilience
October 9, 2024, 5:51 pm
MANILA – The Asian Development Bank (ADB) is expected to approve within the year the funding for the first phase of the Laguna Lakeshore Road Network (LLRN) Project. In a recent interview, ADB Country Director for the Philippines Pavit Ramachandran said they are now in the last stages of having… Read More
New tower, site upgrades boost agri-business in Bukidnon
October 9, 2024, 5:16 pm
MANILA – Telecommunications provider Globe installed a new tower and made several site upgrades across Bukidnon with the goal of boosting connectivity in the region to enhance its capabilities in the agri-fishery and tourism sectors. In a news bulletin on Tuesday, Globe senior vice president… Read More
PH hosting int’l nuclear supply chain forum in November
October 9, 2024, 2:09 pm
MANILA – Eyeing to lead Southeast Asia in deploying nuclear energy technology, the Department of Energy (DOE) will host the Philippine International Nuclear Supply Chain Forum (PINSCF) from Nov. 13 to 15. Happening at Solaire Resort North in Quezon City, the PINSCF will gather local and foreign… Read More
Recto seals financing deals with South Korea for 3 big infra projects
October 9, 2024, 1:33 pm
MANILA – Finance Secretary Ralph Recto and Korea's Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok recently signed agreements for the financing of three big infrastructure projects that will enhance mobility and support economic development in Luzon and the Visayas. In a… Read More
