Business

PH 1st innovation hub to provide better building solutions

PH 1st innovation hub to provide better building solutions

January 16, 2024, 8:40 pm

DAVAO CITY – To provide better building solutions, Holcim Philippines opened here on Tuesday its first innovation hub facility in the country. In a press briefing, Holcim Philippines president and chief operating officer Horia Adrian said the hub showcases sustainable building solutions and… Read More

IPOPHL targets up to 10% growth in IP filings in 2024

IPOPHL targets up to 10% growth in IP filings in 2024

January 16, 2024, 7:28 pm

MANILA – Intellectual Property Office of the Philippines (IPOPHL) Director General Rowel Barba is targeting a 5 to 10 percent increase in Intellectual property (IP) filings this year. In an interview with Bagong Pilipinas Ngayon on Tuesday, Barba said he is optimistic that the number of IP… Read More

CAB lowers fuel surcharge for February

CAB lowers fuel surcharge for February

January 16, 2024, 7:07 pm

MANILA – Fuel surcharge applicable for the entire February has been lowered from Level 6 to Level 5. Under Level 5, the fuel surcharge for domestic flights could range from PHP151 to PHP542, and from PHP498.03 to PHP3,703.11 for international flights, depending on the distance. In an advisory… Read More

Ransomware attacks in PH double in 2023

Ransomware attacks in PH double in 2023

January 16, 2024, 6:55 pm

MANILA – A commissioned survey by a cybersecurity firm has found that ransomware incidents in the Philippines became more rampant and aggressive in 2023. Fortinet Marketing and Communications for Asia and Australia and New Zealand vice president Rashish Pandey said in a media briefing in Makati… Read More

3 logistics firms eye PH as Asian hub; investing over $1B in Clark

3 logistics firms eye PH as Asian hub; investing over $1B in Clark

January 16, 2024, 5:30 pm

MANILA – Three logistics companies are eyeing to make the Philippines as their regional hub in Asia by putting up their facilities at the Clark Freeport and Special Economic Zone, Bases Conversion and Development Authority (BCDA) president and chief executive officer Joshua Bingcang said. In an… Read More

BTr fully awards T-bonds

BTr fully awards T-bonds

January 16, 2024, 5:10 pm

MANILA – The Bureau of the Treasury (BTr) fully awarded the new seven-year Treasury bonds (T-bonds) at Tuesday's auction, setting the coupon rate at 6.125 percent. The auction received strong demand, going 3.6 times oversubscribed, as total submitted bids amounted to PHP107.1 billion. The BTr… Read More

Top-level American trade mission to spur more investments in PH

Top-level American trade mission to spur more investments in PH

January 15, 2024, 8:27 pm

MANILA – The Department of Foreign Affairs (DFA) said Monday that the Presidential Trade and Investment Mission (PITM) from the United States is a follow-through on an earlier commitment by US President Joe Biden to President Ferdinand R. Marcos Jr. during the latter’s official visit to… Read More

Better outlook for 2024 boosts PH shares, peso

Better outlook for 2024 boosts PH shares, peso

January 15, 2024, 8:26 pm

MANILA – The local stock barometer and the peso closed stronger at the beginning of this week's trading. The Philippine Stock Exchange index (PSEi) jumped 37.27 points to 6,680.45, with All Shares also increasing by 17.16 points to 3,523.77 on Monday. "Philippine shares continued to be bought up… Read More

11-month remittances rise to $33.6B

11-month remittances rise to $33.6B

January 15, 2024, 7:43 pm

MANILA – Personal remittances of overseas Filipinos (OFs) from January to November 2023 climbed to USD33.6 billion, almost 3 percent higher than the USD32.6 billion in the same period in 2022, the Bangko Sentral ng Pilipinas (BSP) said Monday. In November last year alone, OF remittances… Read More

Oil prices up for 2 straight weeks

Oil prices up for 2 straight weeks

January 15, 2024, 5:20 pm

MANILA – For the second consecutive week, oil prices will increase on Tuesday morning. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell, and Unioil announced an increase in diesel by PHP0.90 per liter and PHP0.30 per liter for gasoline. Caltex, Seaoil, and Shell will,… Read More

BTr fully awards Treasury bills

BTr fully awards Treasury bills

January 15, 2024, 5:05 pm

MANILA – The Bureau of the Treasury (BTr) fully awarded bids for Treasury bills (T-bills) during Monday's auction. The 91-, 182-, and 364-day T-bills fetched average rates of 5.226 percent, 5.685 percent, and 5.999 percent, respectively. The auction attracted PHP43.2 billion in total tenders.… Read More

Diokno turns over DOF post to Recto

Diokno turns over DOF post to Recto

January 15, 2024, 2:45 pm

MANILA – Former Finance Secretary Benjamin Diokno officially turned over the Department of Finance (DOF) leadership to newly appointed Finance Secretary Ralph Recto in a ceremony on Monday at the DOF office in Manila. “Ralph is a seasoned policymaker and an undeniable patriot. He has sponsored… Read More

PSEi sustains rise, peso moves sideways

PSEi sustains rise, peso moves sideways

January 12, 2024, 6:10 pm

MANILA – The local stock market continued to rebound while the peso moved sideways on Friday. The Philippine Stock Exchange index (PSEi) gained 29.45 points to close at 6,643.18, and All Shares also went up by 10.85 points to 3,506.61. "The PSEi continued to gain for the 2nd straight day, up for… Read More

Stocks, peso rebound on positive economic outlook

Stocks, peso rebound on positive economic outlook

January 11, 2024, 8:01 pm

MANILA – The local stock barometer and currency rebounded on Thursday following the positive outlook on the domestic economy for 2024. The benchmark Philippine Stock Exchange index (PSEi) bounced back to 6,600 level after gaining 67.62 points to close at 6,613.73. The broader All Shares also… Read More

Economist lauds PBBM for prioritizing utilities, infra, agri

Economist lauds PBBM for prioritizing utilities, infra, agri

January 11, 2024, 6:05 pm

MANILA – President Ferdinand R. Marcos Jr. has so far been good in managing the Philippine economy as his policies and priorities on utilities, infrastructure and agriculture are expected to further boost economic growth. "My assessment is that overall, I think (President) BBM (Bongbong Marcos)… Read More

Cebu Pacific pioneers electric buses at NAIA as part of going green

Cebu Pacific pioneers electric buses at NAIA as part of going green

January 11, 2024, 5:27 pm

MANILA – As part of continuing efforts to sustainable initiatives, low-cost carrier Cebu Pacific (CEB) has pioneered the use of electric buses to transport passengers to and from boarding gate and aircraft at the Ninoy Aquino International Airport. CEB has 25 buses run by conventional fuel at… Read More

Filipino tech firm targets gov’t offices for digitization, AI services

Filipino tech firm targets gov’t offices for digitization, AI services

January 11, 2024, 4:05 pm

MANILA – Listed technology company Xurpas, Inc. has seen big potential in offering its services to national government agencies (NGAs) and local government units (LGUs), especially with the Marcos administration’s push to digitize government services. Xurpas chief executive officer Joey… Read More

PH pitches mineral processing, halal to visiting Indonesian biz

PH pitches mineral processing, halal to visiting Indonesian biz

January 11, 2024, 8:23 am

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has pitched mineral processing, halal, and creative industries as sectors where the Philippines and Indonesia could further collaborate. Pascual on Wednesday met with Indonesian businessmen who are part of the delegation… Read More

PH exports need to grow 40% to catch up with 2024 target

PH exports need to grow 40% to catch up with 2024 target

January 10, 2024, 7:29 pm

MANILA – Philippine exports of goods and services should grow by 40 percent to catch up with the over PHP140-billion export revenues target for 2024 under the Philippine Export Development Program (PEDP), a Department of Trade and Industry (DTI) official said. DTI-Export Marketing Bureau (EMB)… Read More

Massive quakes to cause heavy toll on Japan’s GDP

Massive quakes to cause heavy toll on Japan’s GDP

January 10, 2024, 6:55 pm

ISTANBUL – The destruction caused by earthquakes will cause a “heavy blow” to the gross domestic product of Japan, the country’s economists have predicted. Japan was hit by a massive earthquake on New Year's Day, killing at least 206 people, while 52 others are still missing, Tokyo-based… Read More