Business

IPOPHL opens new IP satellite office in Calabarzon

MANILA – The Intellectual Property Office of the Philippines’ (IPOPHL) has established its 15th Intellectual Property (IP) Satellite Office (IPSO) in Calabarzon to help increase IP protection activities in the most populous region of the country.“IPSOs are at the forefront of... Read More

PH should find niche market for e-vehicle production

MANILA – The Philippines should find a niche market in manufacturing electric vehicles rather than competing with its Asean neighbors, an industry player said.AC Motors president Antonio Zara said the country can focus on the assembly of electric commercial vehicles rather than passenger cars... Read More

SEC clears LFM Properties listing by way of introduction

MANILA – The Securities and Exchange Commission (SEC) has considered favorably the listing of LFM Properties Corporation on the stock exchange by way of introduction.In its meeting on June 28, the commission en banc rendered effective the registration statement of LFM Properties covering up to... Read More

Above 5.5% inflation rate seen until yearend

MANILA – The inflation rate is expected to post higher levels of at least 5.5 percent in the second and third quarter of 2022 due in part to rising oil prices in the international market.Based on the June 2022 issue of the Market Call released on Monday, inflation further surpassed the... Read More

PH stocks up ahead of US holiday; peso sideways

MANILA – The main stocks index started the week on a positive note amid the lack of drivers from the United States given its Independence Day holiday, while the peso moved sideways against the greenback.The Philippine Stock Exchange index (PSEi) rose by 0.30 percent, or 18.27 points, to... Read More

Balisacan’s return as NEDA chief welcomed

MANILA – The National Economic and Development Authority (NEDA) hails the appointment of Arsenio Balisacan as the country’s Socioeconomic Planning Secretary under President Ferdinand Marcos Jr.’s administration.In his statement during the NEDA turnover ceremony on Monday, the... Read More

Bulacan Airport City project can register with PEZA: Plaza

MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza has offered another way for the Bulacan Airport City project to be declared as special economic zone after President Ferdinand “Bongbong” Marcos Jr. vetoed House Bill 7575 creating the Bulacan Airport... Read More

Diokno confident Medalla to sustain game-changing reforms in BSP

MANILA – Finance Secretary Benjamin Diokno said Monday he is confident that new Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla will continue the game-changing reforms he implemented under his previous leadership of the institution, which include its rapid shift to digitalization and... Read More

T-bill rates rise anew

MANILA – The rates of Treasury bills (T-bills) rose on Monday but all tenors were fully awarded during the auction.The average rate of the 91-day debt paper rose to 1.908 percent, the 182-day to 2.608 percent, and the 365-day to 2.811 percent.These were at 1.855 percent, 2.400 percent, and... Read More

Rollback set this week after big-time fuel price hikes

MANILA – After four straight weeks of big-time price hikes, oil companies will roll back petroleum prices starting Tuesday morning.In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell announced they will cut diesel prices by PHP3 per liter.Caltex, Seaoil,... Read More

DTI’s Pascual retains 5 undersecretaries

MANILA – As part of his priorities to restructure the agency, new Department of Trade and Industry (DTI) Secretary Alfredo Pascual has reduced the number of undersecretaries from seven to five.According to the updated DTI website, Pascual retained Undersecretary Ceferino Rodolfo for Industry... Read More

Incoming DBM chief extends condolences to Andaya family

MANILA – Incoming Budget and Management Secretary Amenah Pangandaman on Friday extended her condolences to the family of the late Budget Chief and Camarines Sur Representative Rolando Andaya Jr.In a statement, she said Andaya, 53, was “dedicated to serving the Filipino people” and... Read More

New DTI chief bares 5 priority programs

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has identified his priority areas as the new chief of the agency.During the turnover ceremony on Wednesday, which was only broadcast on Friday, Pascual cited that his priorities as new DTI chief would are the development... Read More

PH manufacturing conditions improve for 5 straight months

MANILA – The performance of the domestic manufacturing sector has improved for five consecutive months in June this year, according to S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI).Philippine manufacturing PMI in June recorded a score of 53.8 amid a solid rise... Read More

Minimal rollback on LPG prices in July

MANILA – Industry players implemented a minimal price rollback on liquefied petroleum gas (LPG) for July.Starting at 12:01 a.m. Friday, Petron implemented a decrease of PHP0.40 per kilogram on LPG. It also slashed AutoLPG prices by PHP0.22 per liter.“These reflect the international... Read More

PSEi slips on Fed rate hike, global growth concerns; peso firm

MANILA – Global economic growth concerns and Federal Reserve’s key rate decisions again hit the main equities index but the local currency managed to end sideways against the US dollar after ending the day at 54-level.The Philippine Stock Exchange index (PSEi) shed by 2.34 percent, or... Read More

Investment management firm exec eyes aggressive BSP hike

MANILA – The Bangko Sentral ng Pilipinas (BSP) is expected to announce a more aggressive key rate hike in the coming months to help temper not just the accelerating inflation rate but the peso depreciation as well.In a virtual briefing on Thursday, Sun Life Investment Management and Trust... Read More

PCCI urges Marcos admin to pursue ease of doing biz efforts

MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, is urging the new administration to continue policies and measures of the Anti-Red Tape Authority (ARTA).In a statement Thursday, PCCI president George Barcelon hoped the... Read More

BSP eyes June inflation at 5.7%-6.5%

MANILA – Sustained jumps in oil prices and their impact on power rates are expected to push mainly the June 2022 domestic inflation rate to between 5.7 percent to 6.5 percent.In a statement on Friday, the Bangko Sentral ng Pilipinas (BSP) said “higher prices of key food items and peso... Read More

KTM now producing motorcycle engines in PH

MANILA – Engines of KTM motorcycles are now being produced in the country through the partnership of KTM Asia Motorcycle Manufacturing, Inc. (KAMMI) and Ayala-led Integrated Microelectronics Inc. (IMI), Adventure Cycle Philippines, Inc. (ACPI) president Andre Angelo Santos said.Santos said... Read More