Business
Pump price adjustments set Mar. 5
March 4, 2024, 6:49 pm
MANILA – Oil firms will adjust fuel prices starting 12:01 a.m. on March 5. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell, and Petron said they will increase gasoline prices by PHP0.50 per liter but will be slashing diesel prices by PHP0.40 per liter. Caltex, Seaoil,… Read More
BIR-Ilocos Norte hits 2023 collection target
March 4, 2024, 6:01 pm
LAOAG CITY – The Bureau of Internal Revenue (BIR) in Ilocos Norte has reached its PHP3.2 billion collection target for 2023 due partly to compliance among taxpayers. In a media interview on Monday, Revenue district officer Aldrin Camba said he is thankful for the taxpayers for making the Ilocos… Read More
BIR wins 'ghost receipts' case vs. Buildforce Trading Inc.
March 4, 2024, 6:00 pm
MANILA – Bureau of Internal Revenue Commissioner Romeo Lumagui Jr. said the BIR won the criminal case against the corporate officers and accountant of Buildforce Trading Inc. "Just this February 2024, we won criminal cases before the DOJ against the ghost receipts syndicate. The first day of… Read More
BTr fully awards Treasury bills
March 4, 2024, 3:29 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 5.778 percent, 5.995 percent and 6.100 percent, respectively. Last week, the average auction yield of the 91-, 182-, and 364-day… Read More
MIC eyes membership in global network of sovereign wealth funds
March 1, 2024, 6:57 pm
MANILA – The Maharlika Investment Corp. (MIC) is set to apply for Associate Membership in the International Forum of Sovereign Wealth Funds (IFSWF) to strengthen transparency and good governance. In a statement on Friday, the Department of Finance (DOF) said the proposal to apply to the IFSWF… Read More
Stocks slip on profit-taking, peso ends sideways
March 1, 2024, 6:50 pm
MANILA – The Philippine Stock Exchange index (PSEi) on Friday closed in the negative territory on profit-taking after it traded above 7,000-level, while the peso ended sideways against the greenback. “The local bourse dropped 25.12 points (0.36 percent) to 6,919.59 as investors took some gains… Read More
SMC opens NAIAx Tramo access ramp to improve traffic headed to airport
March 1, 2024, 6:19 pm
MANILA – San Miguel Corporation’s (SMC) infrastructure arm officially opened the new access ramp of the NAIA Expressway (NAIAx) at Tramo in Pasay City which is expected to ease traffic in the area and provide seamless access to the country’s main international gateway and other areas.… Read More
DOF leads G-24 technical meetings to tackle global challenges
March 1, 2024, 4:10 pm
MANILA – The Department of Finance (DOF), which currently sits as chair of the Intergovernmental Group of Twenty-Four (G-24) Board of Governors, recently led the G-24 Technical Group Meetings (TGMs). In a statement on Friday, the DOF said the technical meetings on Feb. 21 and 22, 2024 in Manila… Read More
PH manufacturing PMI continues to rise in February 2024
March 1, 2024, 2:32 pm
MANILA – The Philippines manufacturing purchasing managers index (PMI) for February 2024 continued to post improvement, the S&P Global reported Friday. S&P Global said the country's manufacturing score in February was at 51, better than January 2024's index of 50.9. The country's manufacturing… Read More
LPG prices sustain price hike in March
March 1, 2024, 1:51 pm
MANILA – Companies announced that prices of liquefied petroleum gas (LPG) continued to increase for three consecutive months of the year. In separate advisories, Petron Corporation said its LPG price increased by PHP0.30 per kilogram effective March 1. "This reflects the international contract… Read More
Hot money outflows hit $76 million in January
March 1, 2024, 1:16 pm
MANILA – Foreign portfolio investments or hot money registered with the Bangko Sentral ng Pilipinas (BSP) through authorized banks recorded net outflows of USD76 million in January this year. Data released by the BSP late Thursday showed that this resulted from the USD1.3-billion gross outflows… Read More
PXP remains on the lookout for energy exploration in PH
February 29, 2024, 11:01 pm
MANILA – Listed upstream oil and gas company PXP Energy Corp. remains interested in exploration activities for new sources of energy in the country. “PXP will assess and study other projects in the Philippines,” it disclosed to the Philippine Stocks Exchange on Thursday. It said the company… Read More
37% of consumers see PH going cashless by 2030
February 29, 2024, 9:07 pm
MANILA – One in three consumers, or 37 percent of the surveyed respondents, believes that the majority of Filipinos could be using cashless payment by 2030 as consumers become more comfortable in using mobile wallets and cards. The Annual Visa Consumer Payment Attitudes Study reported on… Read More
Meralco to help achieve DOE’s 2032 nuclear power target
February 29, 2024, 8:30 pm Updated on March 1, 2024, 3:25 pm
MANILA – The Manila Electric Company (Meralco) has expressed its support to the government’s 2032 nuclear power target by installing 1,200 megawatts capacity using small modular reactor technologies. Meralco executive vice president and chief operating officer Ronnie Aperocho said in an… Read More
Budget deficit down in 2023
February 29, 2024, 8:15 pm
MANILA – The national government's budget deficit went down by 6.32 percent to PHP1.51 trillion last year from PHP1.61 trillion in 2022. "The narrower fiscal gap for the year was attributed to the 7.86% increase in revenue collection, surpassing the 3.42% growth in government spending," the… Read More
Fil-Chinese biz chamber favors pay hikes thru regional boards
February 29, 2024, 8:00 pm
MANILA – Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) president Cecilio Pedro said Thursday they favor salary adjustments through the regional wage boards over a legislated pay increase. Pedro said in a press conference in Makati City that policymakers should… Read More
Stocks up, peso moves sideways
February 29, 2024, 7:54 pm
MANILA – The local stock market continued to recover while the peso moved sideways on Thursday. The Philippine Stock Exchange index (PSEi) went up by 0.99 percent, closing at 6,944.71, while All Shares likewise rose 0.48 percent to 3,609.06. Most of the sectoral gauges closed in the green –… Read More
PH top food ingredients, oleochemical producer to expand export market
February 29, 2024, 4:54 pm
MANILA – The country’s top manufacturer of food ingredients and oleochemicals is eyeing to expand its export market as it sees market volatility easing this year. In a virtual press briefing Thursday, D&L president and chief executive officer Alvin Lao said the listed firm plans to tap… Read More
Puregold to hold monthly discount promo on basic goods
February 29, 2024, 3:35 pm
MANILA – Supermarket chain operator Puregold Price Club, Inc. will hold a discount promotion every first day of the month to soften the effects of increasing prices of basic goods on Filipino consumers. On Friday, Puregold will launch its “Hakot Every1” to offer discounts on basic… Read More
Apple investing significantly to 'break new ground' in generative AI
February 29, 2024, 3:03 pm
ISTANBUL – Apple is investing significantly in generative artificial intelligence (AI) and will "break new ground" in this area, CEO Tim Cook said Wednesday. "Later this year, I look forward to sharing with you the ways we will break new ground in generative AI, another technology we believe… Read More
