Business
FDI net inflows up 30% in December 2023
March 11, 2024, 2:51 pm
MANILA – Foreign direct investments (FDI) net inflow went up by 29.9 percent in December last year. Data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed that FDI net inflows during the month amounted to USD826 million from USD636 million in December 2022. "FDI increased mainly… Read More
PSA, DSWD partner to bring PhilSys services to 4Ps beneficiaries
March 11, 2024, 1:18 pm Updated on March 11, 2024, 7:34 pm
MANILA – The Philippine Statistics Authority (PSA) and the Department of Social Welfare and Development (DSWD) partnered up to bring the services of the Philippine Identification System (PhilSys) to the Family Development Session (FDS) of Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries.… Read More
100% foreign-owned onshore wind projects secure service contracts
March 11, 2024, 6:00 am
MANILA – Another foreign company has taken advantage of the easing of foreign restrictions on renewable energy (RE) projects in the country, getting two Wind Energy Service Contracts (WESCs) from the Department of Energy (DOE). In a statement over the weekend, DOE said it awarded WESCs to… Read More
PH settles P1.60Tr debt in 2023
March 10, 2024, 12:35 pm
MANILA – The national government paid a bigger amount of its debt obligations last year, the Bureau of Treasury data showed. Records showed that debt payments last year amounted to PHP1.60 trillion, 23.9 percent higher than the debt payment of PHP1.29 trillion in 2022. The amount exceeded the… Read More
Gov’t committed to improving job quality for more opportunities – NEDA
March 9, 2024, 4:23 pm
MANILA – The Marcos administration remains committed to creating a favorable business environment that could generate more job opportunities for Filipinos. The National Economic and Development Authority (NEDA) made the statement following the recent Labor Force Survey (LFS) results that showed… Read More
DTI, Connected Women partner to equip Filipinas with AI skills
March 8, 2024, 6:48 pm
MANILA – On International Women’s Day, the Department of Trade and Industry (DTI) and Connected Women signed on Friday a memorandum of understanding (MOU) to equip Filipinas with skills on artificial intelligence (AI) to provide job and livelihood opportunities, especially for the underserved.… Read More
DOF lines up strategies to boost quality of employment
March 8, 2024, 6:27 pm
MANILA – The Department of Finance (DOF) on Friday cited the government strategies that will boost the quantity and quality of employment. In a statement, the DOF said the Growth-Enhancing Actions and Resolutions (GEARs) plan will ensure that the country is on track to achieve a growth-enhancing… Read More
PSEi, peso close week strong
March 8, 2024, 6:15 pm
MANILA – Local shares ended their shedding at the end of the week while the peso closed strong on Friday. The Philippine Stock Exchange index (PSEi) closed this day’s trading higher by 1.53 percent, or 104.87 points, at 6,942.21. This ended the local bourse’s three-day shedding.… Read More
IPOPHL’s trademark incentive program empowers women in provinces
March 8, 2024, 5:30 pm
MANILA – The Juana Make a Mark (JMAM) Program of the Intellectual Property Office of the Philippines (IPOPHL) is proving to deliver on its promise of spurring inclusive development as women entrepreneurs in provinces emerged as the program’s biggest beneficiaries. The JMAM is a trademark… Read More
High-level executives joining US trade mission to PH next week
March 8, 2024, 5:26 pm
MANILA – The White House announced on Friday (Manila time) that 22 high-level business executives will be part of the delegation of US Secretary of Commerce Gina Raimondo in her Presidential Trade and Investment Mission to Manila from March 11 to 12. The delegation will be exploring business… Read More
Electricity rates up for 3 straight months
March 8, 2024, 4:05 pm
MANILA – Electricity rates in franchise areas of the Manila Electric Company (Meralco) were higher this month, the distribution utility (DU) announced Friday. In a statement, Meralco said the power rate increased by PHP0.0229 per kilowatt hour this month to PHP11.9397 per kWh from PHP11.9168 per… Read More
Loan growth up, domestic liquidity slows in January
March 8, 2024, 3:31 pm
MANILA – Bank lending of universal and commercial banks (U/KBs) grew at a faster rate in January this year while domestic liquidity growth slowed. Data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed that banks' outstanding loans, excluding those placed in the central bank’s… Read More
Unemployment rate down to 4.5% in January
March 8, 2024, 1:45 pm
MANILA – The number of unemployed Filipinos went down to 2.15 million in January this year from the 2.38 million recorded in the same month last year, National Statistician Dennis Mapa said. In a briefing on Friday, Mapa said the unemployment rate during the month was at 4.5 percent, down from… Read More
PH records $102.7-B foreign reserves in February
March 8, 2024, 9:49 am
MANILA – The country's gross international reserves (GIR) settled at USD102.7 billion as of end-February, the Bangko Sentral ng Pilipinas (BSP) said. In a statement released late Thursday, the BSP said that preliminary data showed that the GIR level during the month was lower than end-January's… Read More
Ilocos Region inflation rate accelerates to 2% in February
March 7, 2024, 7:51 pm
MALASIQUI, Pangasinan – Ilocos Region’s inflation rate rose slightly to 2 percent last February from month-ago’s 1.5 percent, driven by faster upticks in food prices, the Philippine Statistics Authority (PSA) reported Thursday. “The food index of Ilocos Region increased to 7.1 percent in… Read More
PH shares fall, peso trades at 55-level for 5 days
March 7, 2024, 7:49 pm
MANILA – Local shares declined anew on Thursday on central banks’ statement that policy easing is yet on the horizon, while the peso extended its 55-level trading for five days. The Philippine Stock Exchange index (PSEi) ended the day weaker, down by 0.60 percent to 6,837.34, with All Shares,… Read More
JCR's credit rating affirmation confidence vote for policies: Recto
March 7, 2024, 6:10 pm
MANILA – Finance Secretary Ralph Recto said the Japan Credit Rating Agency’s (JCR) latest affirmation of the country's investment-grade credit rating of “A-” with a stable outlook is a strong vote of confidence in President Ferdinand R. Marcos Jr.’s sound economic policies. “This… Read More
BIR exempts additional medicines from VAT
March 7, 2024, 4:14 pm
MANILA – The Bureau of Internal Revenue (BIR) said 20 additional medicines for cancer, hypertension and mental illness are now exempted from value-added tax (VAT). In a statement on Thursday, the BIR said Commissioner Romeo Lumagui Jr. issued Revenue Memorandum Circular No. 34-2024 last March 5… Read More
PH needs $337-B clean energy investments by 2040
March 7, 2024, 3:44 pm
MANILA – A study of the Organisation for Economic Co-operation and Development (OECD) has revealed that the Philippines would need investments amounting to USD337 billion by 2040 to achieve clean energy goals. On Thursday, OECD and the Department of Energy (DOE) launched the Clean Energy Finance… Read More
US firms urged to invest in Clark ahead of Raimondo's PH trade mission
March 7, 2024, 3:06 pm
MANILA – The Bases Conversion and Development Authority (BCDA) Thursday said its top officials have met with United States-based companies ahead of the trade mission of US Secretary of Commerce Gina Riamondo here next week. The BCDA said its Chairman Delfin Lorenzana and its President and chief… Read More
