Business
DOF, Korea sign deals for Dumaguete airport, other infra projects
August 7, 2024, 5:01 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto and the Export-Import Bank of Korea (KEXIM) signed financing agreements for the new Dumaguete Airport Development Project and the Economic Development Promotion Facility (EDPF) that will deliver more infrastructure projects nationwide.… Read More
Q1 economic growth revised upward to 5.8%
August 7, 2024, 5:00 pm
MANILA – The Philippine Statistics Authority (PSA) revised upward on Wednesday the first quarter Philippine gross domestic product (GDP) growth to 5.8 percent from 5.7 percent. In a statement, the PSA said major contributors to the upward revision were financial and insurance activities which… Read More
Employment goes up; jobless Filipinos down in June
August 7, 2024, 4:21 pm Updated on August 7, 2024, 5:53 pm
MANILA – The number of jobless Filipinos went down to 1.62 million in June this year from 2.33 million a year ago, the Philippine Statistics Authority (PSA) said. In a briefing on Wednesday, National Statistician Dennis Mapa said the number of unemployed Filipinos in June was also down from 2.11… Read More
Gross int'l reserves up in July
August 7, 2024, 4:20 pm
MANILA – The country’s gross international reserves (GIR) level went up to USD105.65 billion as of end-July this year from USD105.19 billion in June, preliminary data released by the Bangko Sentral ng Pilipinas (BSP) showed. In a statement on Wednesday, the BSP said the increase in GIR… Read More
GDP per capita exceeds pre-pandemic level by over 10%: Balisacan
August 6, 2024, 9:13 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the country’s latest gross domestic product (GDP) per capita has surpassed the pre-pandemic level by more than 10 percent, thanks to government’s programs to support economic growth. As part of the… Read More
Stocks, peso close almost flat
August 6, 2024, 8:16 pm
MANILA – The local stock market and currency closed almost flat in Tuesday trading. The Philippine Stock Exchange index (PSEi) finished 0.02 percent or 1.49 percent lower at 6,433.24. All Shares slightly increased by 0.13 percent to 3,520.94 points. Indices were mixed, with Property, Services,… Read More
Ormoc City hailed for business online transactions
August 6, 2024, 7:14 pm
TACLOBAN CITY – The Anti-Red Tape Authority (ARTA) has awarded the city government of Ormoc for opening an electronic Business One-Stop Shop (E-BOSS) as part of the Ease of Doing Business Law implementation. ARTA Secretary Ernesto Perez led on Tuesday the awarding of a plaque of commendation… Read More
DTI, Smart to empower 1M sari-sari stores with digital solutions
August 6, 2024, 6:30 pm
MANILA – The Department of Trade and Industry (DTI) has partnered with Smart Communications, Inc. to equip 1 million sari-sari (general merchandise) store owners across the country with knowledge on digital solutions. On Tuesday, Smart said it has forged a memorandum of understanding with DTI to… Read More
PH goods exports grow 3% in H1 2024
August 6, 2024, 6:24 pm
MANILA – The country’s merchandise exports in the first six months of the year increased by 3 percent compared to the same period in 2023. The Philippine Statistics Authority (PSA) reported on Tuesday that merchandise export revenues from January to June 2024 reached USD36.41 billion, up from… Read More
BSP less likely to cut rates during next meeting
August 6, 2024, 6:22 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the Monetary Board of the BSP is now less likely to cut policy rates during its next meeting this month due to the acceleration in headline inflation. In an interview at the sidelines of the official launch of the… Read More
EV group seeks stronger ties with Chinese producers
August 6, 2024, 2:37 pm
MANILA – The Electric Vehicle Association of the Philippines (EVAP) recently visited China as part of its efforts to build stronger ties with EV manufacturers. EVAP met with executives of the Regional Comprehensive Economic Partnership (RCEP) Industry Cooperation Committee (RICC) in Beijing in… Read More
BSP launches e-learning academy, financial education initiatives
August 6, 2024, 1:00 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said it is working on online and innovative training platforms to further broaden financial education (fin-ed) and strengthen consumer protection. In a statement on Tuesday, the BSP said it launched the first batch of the BSP-BDO Foundation (BDOF)… Read More
Gov't to implement stronger measures to ensure food security
August 6, 2024, 11:01 am
MANILA – The National Economic and Development Authority (NEDA) on Tuesday assured that the government is implementing crucial interventions to support the most vulnerable sectors and ensure food security amid La Niña and the higher inflation recorded in July. “The government is relentlessly… Read More
Joint BIR-NBI raid uncovers fake gov’t ID operation in Talisay City
August 5, 2024, 8:15 pm
MANILA – The Bureau of Internal Revenue (BIR) and the National Bureau of Investigation (NBI) have confiscated fake government identification cards (IDs) during a raid in Barangay Lagtang, Talisay, Cebu. In a statement on Monday, the BIR said the raid was conducted last month following reports of… Read More
Abaca mats, coasters sell like hotcakes at Tokyo trade fair
August 5, 2024, 7:58 pm
LEGAZPI CITY – Some 15 micro, small, and medium entrepreneurs (MSMEs) from the Bicol Region have made a remarkable sale at the 19th Lifestyle Expo at the Tokyo Big Sight in Japan, the Department of Trade and Industry (DTI) said Monday. DTI-Bicol spokesperson Jocelyn Berango said in an interview… Read More
PSEi slump tracks Asian peers amid disappointing US jobs data
August 5, 2024, 7:40 pm
MANILA – Along with other Asian indices, the Philippine Stock Exchange index (PSEi) plummeted by 170.57 points in Monday’s trading as jobs data in the United States disappointed investors. PSEi dropped 2.58 percent to 6,434.73, with All Shares also declining by 2.24 percent to 3,516.47.… Read More
BTr fully awards Treasury bills
August 5, 2024, 5:13 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 5.828 percent, 6.062 percent, and 6.074 percent, respectively. The comparative Philippine Peso Bloomberg Valuation Service (PHP BVAL)… Read More
Filipinos in Lebanon get free phone credits, load amid unrest
August 5, 2024, 5:02 pm
MANILA – Filipinos living or visiting Lebanon can call or send messages to their loved ones for free through a promo offered by Filipino telecommunications provider Globe Telecom, Inc. (Globe) amid increasing unrest in the Middle East. In a statement Monday, Globe said its postpaid users would… Read More
Oil price rollback set Aug. 6
August 5, 2024, 4:56 pm
MANILA – Oil companies will reduce fuel prices on Tuesday, implementing rollbacks for diesel and kerosene prices for four straight weeks. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will slash gasoline prices by 10 centavos per liter and 20 cents per… Read More
Firm pledges P35-M condo, cash for Yulo
August 5, 2024, 4:19 pm
MANILA – After bagging two gold medals at the Paris Olympics, listed company Megaworld Corp. has pledged a PHP35-million reward to Filipino gymnast Carlos Yulo. Megaworld, in a post in its official Facebook page, announced it will give away a fully furnished three-bedroom condominium in McKinley… Read More
