Business

K-culture sustains demand for Korean Air flights

K-culture sustains demand for Korean Air flights

March 18, 2024, 5:38 pm

MANILA – South Korea's flag carrier Korean Air (KE) announced Monday the resumption and increase in flight frequencies to several destinations, while maintaining the three daily flights in Manila due to sustained demand. KE increased its flights via the Ninoy Aquino International Airport from… Read More

BTr fully awards T-bills

BTr fully awards T-bills

March 18, 2024, 5:19 pm

MANILA – The Bureau of the Treasury (BTr) fully awarded bids for the Treasury bills (T-bills) in Monday's auction. The 91-, 182-, and 364-day T-bills fetched average rates of 5.744 percent, 5.916 percent and 6.033 percent, respectively. The T-bills' average rates was lower compared to the 5.772… Read More

Central bank warns public vs. entities misusing BSP name, logo

Central bank warns public vs. entities misusing BSP name, logo

March 18, 2024, 4:46 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) on Monday reminded the public to carefully scrutinize individuals, groups or companies using the BSP name and logo on their websites, social media accounts and promotional materials. In an advisory, the BSP said some individuals and groups usually… Read More

Ratio Petroleum to begin 2nd phase of work program on SC 76

Ratio Petroleum to begin 2nd phase of work program on SC 76

March 18, 2024, 2:24 pm

MANILA – Israeli firm Ratio Petroleum Ltd.,the operator of Service Contract (SC) 76, will begin the second phase of its work program on the block this month, the Department of Energy (DOE) said Monday. The work program’s second phase will involve a 3D seismic survey in the East Palawan Basin,… Read More

10-centavo oil price adjustments set March 19

10-centavo oil price adjustments set March 19

March 18, 2024, 2:22 pm

MANILA – Minimal price adjustments on petroleum products are expected on Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they would increase gasoline prices by 10 centavos per liter while slashing diesel prices by 10 centavos per liter. There will be no… Read More

MIC eyes investment in agro-industries

MIC eyes investment in agro-industries

March 17, 2024, 3:18 pm

MANILA – The Maharlika Investment Corporation (MIC) is currently exploring possible investments in agro-industries. "MIC is interested to invest in agro-industry. They are considering coco oil mills among others. But no details as of now. It’s a work in progress," Department of Finance (DOF)… Read More

OFW remittances up in January

OFW remittances up in January

March 16, 2024, 12:00 pm Updated on March 17, 2024, 12:11 pm

MANILA – Personal remittances from overseas Filipino workers (OFW) went up by 2.7 percent in January this year, the Bangko Sentral ng Pilipinas (said). Data released by the BSP over the weekend showed that personal remittances from overseas Filipinos amounted to USD3.15 billion in January from… Read More

PSA: 54 million national ID cards already printed

PSA: 54 million national ID cards already printed

March 15, 2024, 8:50 pm

MANILA – The government has so far completed the printing of over 60 percent of the physical copies of the national identification cards (IDs), according to the Philippine Statistics Authority (PSA). During the Bagong Pilipinas Ngayon briefing on Friday, Philippine Identification System… Read More

Gov't records budget surplus in January

Gov't records budget surplus in January

March 15, 2024, 8:17 pm

MANILA – The national government posted a budget surplus of PHP88 billion in January this year, up by more than 90 percent from a year ago's PHP45.7 billion. "The fiscal outturn was brought about by a faster 21.15% year-over-year increase in revenue collection outpacing the 10.39% expansion in… Read More

 Oil prices down with strong dollar, investor profit-taking

Oil prices down with strong dollar, investor profit-taking

March 15, 2024, 8:11 pm

ANKARA – Oil prices declined on Friday, pressured by a strong US dollar, following higher-than-expected consumer price inflation data and on fears that the US Federal Reserve (Fed) will maintain high rates for longer. International benchmark Brent crude traded at USD85.02 per barrel at 10.37… Read More

Shares, peso end weak on US data

Shares, peso end weak on US data

March 15, 2024, 7:50 pm

MANILA – Both Philippine shares and the peso closed the week with losses following the release of the producer price index (PPI) in the United States. On Friday, the Philippine Stock Exchange index (PSEi) ended its three-day rally as it dropped 2.09 percent to 6,822.32. All Shares were lower by… Read More

BSP sees BOP surplus in 2024, deficit in 2025

BSP sees BOP surplus in 2024, deficit in 2025

March 15, 2024, 7:49 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) said the country's overall balance of payments (BOP) is projected to post a higher surplus for this year but will likely revert to a deficit in 2025. In a virtual briefing on Friday, BSP Department of Economic Research Director Sittie Hannisha… Read More

Further downtrend in Mimaropa inflation seen: NEDA official

Further downtrend in Mimaropa inflation seen: NEDA official

March 15, 2024, 7:22 pm

CALAPAN CITY, Oriental Mindoro – Inflation in the Mimaropa region is expected to continue on a downward slope this month as food stocks increase due to the ongoing harvest season. The National Economic and Development Authority’s (NEDA) top economist in Mimaropa made this projection following… Read More

Record-high fake goods seizure in 2023 due to increased ops

Record-high fake goods seizure in 2023 due to increased ops

March 15, 2024, 6:30 pm

MANILA – The Intellectual Property Office of the Philippines (IPOPHL) reported on Friday the value of seized counterfeit goods in 2023 hit a record-high of PHP26.86 billion. These fake goods confiscated by the National Committee on Intellectual Property Rights (NCIPR) last year surged by 183… Read More

NEDA seeks passage of Konektadong Pinoy Bill

NEDA seeks passage of Konektadong Pinoy Bill

March 15, 2024, 5:58 pm

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Friday called for the passage of the ‘Konektadong Pinoy Bill’ or the Open Access in Data Transmission Bill to strengthen the country’s internet infrastructure and enhance digital connectivity. "NEDA… Read More

LandBank inaugurates agri-hubs in Mindoro

LandBank inaugurates agri-hubs in Mindoro

March 15, 2024, 3:20 pm

MANILA – State-run Land Bank of the Philippines (LandBank) recently inaugurated agri-hubs in Oriental Mindoro and Misamis Occidental, as part of the bank's efforts to boost rice production and economic activities in these provinces. In a statement on Friday, LandBank said the agri-hub in… Read More

Prime Energy says Malampaya drilling in 2025 on track

Prime Energy says Malampaya drilling in 2025 on track

March 15, 2024, 2:53 pm

MANILA – Prime Energy Resources Development B.V. said the exploration of new wells on Service Contract (SC) 38 remains on track. On Friday, Prime Energy announced that it awarded a USD69.9-million (PHP3.88-billion) contract to Noble for the use of its deepwater drillship “Noble Viking" for the… Read More

F&B manufacturer reports healthy topline in 2023

F&B manufacturer reports healthy topline in 2023

March 14, 2024, 8:47 pm

MANILA – One of the country’s largest food and beverage manufacturers, Universal Robina Corp. (URC), reported Thursday that it closed 2023 with sales amounting to PHP158.4 billion. In a disclosure to the Philippine Stock Exchange, URC said its sales rose by 6 percent last year even with a… Read More

PSEi on 3-day rally, peso ends flat

PSEi on 3-day rally, peso ends flat

March 14, 2024, 8:15 pm

MANILA – The local stock market sustained its three-day rally on Thursday, while the peso closed flat against the US dollar. The benchmark Philippine Stock Exchange index (PSEi) inched up by 0.04 percent, or 2.45 points, to 6,967.96, while the broader All Shares declined by 0.10 percent, or 3.46… Read More

Lufthansa presents PHP8-B Clark expansion plan to PBBM in Germany trip

Lufthansa presents PHP8-B Clark expansion plan to PBBM in Germany trip

March 14, 2024, 7:05 pm

MANILA – German airline Lufthansa’s unit in the Philippines has presented the first phase of its expansion plans in the country to President Ferdinand R. Marcos Jr., who recently concluded his official trip to Berlin. In a statement Thursday, Department of Trade and Industry (DTI) Secretary… Read More