Business
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
BSP forecasts February 2024 inflation between 2.8% and 3.6%
February 29, 2024, 2:19 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) projects February 2024 inflation to remain within the government's target range. In a statement on Thursday, the BSP said headline inflation will likely settle within the range of 2.8 to 3.6 percent. "Continued price increases for key food items,… Read More
DTI eyes establishing vape certification facilities
February 29, 2024, 1:29 pm
MANILA – The Department of Trade and Industry (DTI) is planning to establish vape certification facilities in the country as part of the government's heightened enforcement operations against illegal vape products. In a statement on Thursday, the Trade department said Secretary Alfredo Pascual… Read More
PSEi recovers, peso weakens further
February 28, 2024, 9:15 pm
MANILA – A wait-and-see stance for the release of the US’ January 2024 consumption expenditure data allowed the local bourse’s main index to take a breather but the peso weakened anew on Wednesday. The Philippine Stock Exchange index (PSEi) rose by 0.23 percent to 6,876.52 points and the… Read More
Filinvest Land posts record 30% growth in profit for 2023
February 28, 2024, 8:48 pm
MANILA – Filinvest Land, Inc. (FLI) reported a net income attributable to equity holders of the parent totaling PHP3.77 billion based on its audited financial statements, posting a record 30-percent increase compared to the previous year. FLI's total consolidated revenues and other income rose… Read More
DA exec pushes more funding for bamboo dev't program
February 28, 2024, 5:49 pm
MANILA – The Department of Agriculture (DA) is urging national agencies involved in advancing the government’s bamboo industry development program to commit funds to the effort to move it forward. In an interview on Wednesday, Agriculture Undersecretary Deogracias Victor Savellano said the… Read More
BTr lists record-high 5-year retail treasury bonds
February 28, 2024, 5:44 pm
MANILA – The Bureau of the Treasury (BTr) on Wednesday listed before the Philippine Dealing and Exchange Board its five-year retail treasury bonds (RTB) due on Feb. 28, 2029, which registered a record volume of PHP584.86 billion. The debt paper has a coupon rate of 6.25 per year and is 19 times… Read More
Survey sees increasing demand for Pinoys with overseas experience
February 28, 2024, 4:43 pm
MANILA – Companies in the Philippines are interested in hiring Filipino professionals with overseas experience for key leadership positions, according to the latest local salary survey by the global specialist recruitment firm Robert Walters. According to the results of the 2024 Salary Survey… Read More
Toyota recalls 280K vehicles in US over unexpected movement concerns
February 28, 2024, 3:39 pm
ISTANBUL – Japanese multinational automaker Toyota is recalling 280,663 vehicles in the US amid concerns over unexpected movement. "Certain parts of the transmission may not immediately disengage when the vehicle is shifted to the neutral position," US' National Highway Traffic Safety… Read More
SEC suspends sign-up of 2.3K firms in Bicol
February 28, 2024, 3:14 pm
LEGAZPI CITY – The Securities and Exchange Commission (SEC) suspended more than 2,000 corporations in Bicol for failing to submit their annual reports. In an interview on Wednesday, Arlyn Joy Alarcon, SEC-Bicol information officer, said based on the suspension order from their company… Read More
Meralco secures 400-MW interim power supply requirement
February 27, 2024, 9:53 pm
MANILA – The Manila Electric Company (Meralco) on Tuesday announced that it secured a 400-megawatt interim power supply requirement following a successful Competitive Selective Process (CSP). Meralco awarded the 400-MW Interim Power Supply Agreement (IPSA) to Limay Power, Inc. as it offered a… Read More
Cost of rationalized infra flagship projects climbs to P9T
February 27, 2024, 8:55 pm
MANILA – The National Economic and Development Authority (NEDA) Board has reduced the number of the administration's Infrastructure Flagship Projects (IFPs) but their cost has climbed to PHP9.14 trillion from PHP8.7 trillion at end-2023. The NEDA Board, chaired by President Ferdinand R. Marcos… Read More
New 20-year T-bonds 3x oversubscribed
February 27, 2024, 8:21 pm
MANILA – Appetite for the new 20-year Treasury bonds (T-bonds) was strong as it fetched bids three times higher than the PHP30-billion offer. The Bureau of the Treasury (BTr) on Tuesday fully awarded the PHP30-billion T-bonds. “The auction received strong demand, going more than three times… Read More
PEZA, US trade, commercial office vow to strengthen investment drive
February 27, 2024, 8:16 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga welcomed United States Trade and Commercial Section officials to the PEZA Office for a briefing on the current state of US investments in Philippine economic zones. The US officials were led by Economic Counselor… Read More
PSEi continues to fall on profit-taking, peso ends sideways
February 27, 2024, 8:10 pm
MANILA – The local bourse declined for two consecutive days as investors continued to take profit, while the Philippine peso closed sideways Tuesday. The Philippine Stock Exchange index (PSEi) finished this day’s trading lower by 30.82 points at 6,860.67, with All Shares also closing lower by… Read More
Wearable exporters seek gov’t interventions to stop job shedding
February 27, 2024, 7:53 pm
MANILA – The Confederation of Wearable Exporters of the Philippines (Conwep) is seeking government interventions to arrest jobs shedding in the industry. In a virtual briefing Tuesday, Conwep executive director Maritess Jocson-Agoncillo said the industry group has written President Ferdinand R.… Read More
Dubai-based logistics firm eyes investments in PH
February 27, 2024, 5:17 pm
MANILA – Dubai-based logistics company DP World has expressed interest in putting up a logistics hub and an industrial park in the Philippines, the Department of Trade and Industry (DTI) said Tuesday. In a statement, the DTI said Secretary Alfredo Pascual met with DP World Group Senior Vice… Read More
PH to adopt new investment-related agreement in WTO
February 27, 2024, 1:25 pm
MANILA – The Philippines is among the 123 World Trade Organization (WTO) members, or three-fourths of the membership, that will adopt the Investment Facilitation for Development (IFD) Agreement that was finalized on the sidelines of the 13th WTO Ministerial Meeting in Abu Dhabi from Feb. 26 to… Read More
