Business
Over 145 million coins deposited through coin deposit machines
February 23, 2024, 6:42 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said PHP510 million worth of coins have been deposited through its coin deposit machines (CoDMs). The BSP said the amount is equivalent to 145.5 million pieces of coins from over 134,000 transactions. BSP Deputy Governor Bernadette Romulo-Puyat… Read More
ECOP urges House to carefully study probable impact of P100 wage hike
February 23, 2024, 6:22 pm
MANILA – The Employers’ Confederation of the Philippines (ECOP) on Friday appealed to the House of Representatives to be prudent when deliberating on its own version of the legislated wage hike bill. In an interview, ECOP president Sergio Ortiz-Luis Jr. urged lawmakers to heed economic… Read More
European Central Bank sees first annual loss in two decades
February 23, 2024, 5:36 pm
ISTANBUL – The European Central Bank (ECB) recorded a 1.3 billion euro (USD1.41 billion) loss in 2023, the first annual loss since 2004, according to a financial statement it released Thursday. "This loss takes into account the full release of the provision for financial risks, amounting to… Read More
100% Danish RE projects get green lane treatment anew
February 23, 2024, 3:32 pm
MANILA – Copenhagen Infrastructure New Market Fund (CI NMF) Philippines Corp., a 100-percent Danish energy company, secured another endorsement for green lane treatment from the One-Stop Action Center for Strategic Investments (OSAC-SI). The Board of Investments (BOI) on Friday said its OSAC-SI… Read More
Economist sees February inflation at 3%
February 23, 2024, 3:16 pm
MANILA – Headline inflation will likely continue to settle within the government's target but a slight pick up may be seen due to base effects and higher prices of oil, an economist said. Rizal Commercial Banking Corporation chief economist Michael Ricafort told the Philippine News Agency on… Read More
NEDA: P100 wage hike to affect inflation, growth, unemployment rate
February 22, 2024, 7:54 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Thursday warned that the proposed PHP100 wage hike will create negative effects on inflation and economic growth, and increase unemployment rate. "Well, our position at NEDA is, it’s not the right time… Read More
Shares jump to 6,900-level, peso strong at 55 vs. dollar
February 22, 2024, 7:14 pm
MANILA – The local index finished Thursday on a three-day rally trading above 6,900, while the peso continued to strengthen at the 55-level against the US dollar. From the previous day’s close, the benchmark Philippine Stock Exchange index (PSEi) only had to improve by 0.08 percent, or 5.79… Read More
Issuance of pre-dev't ECC for offshore wind projects made easy
February 22, 2024, 6:01 pm
MANILA – The Department of Energy (DOE) and the Department of Environment and Natural Resources (DENR) on Thursday signed a memorandum of agreement (MOA) that will simplify the issuance of an environmental compliance certificate (ECC) for offshore wind energy projects. The agreement was signed… Read More
Investment management firm sees higher PH econ growth in 2024
February 22, 2024, 5:23 pm
MANILA – The government's 6.5 to 7.5 percent economic growth target for this year is attainable as the projected decline in interest rates will help boost consumption and investments, a top official of Sun Life Investment Management and Trust Corporation (SLIMTC) said on Thursday. "It seems like… Read More
Movate eyes to double growth in PH in 3 years
February 22, 2024, 3:56 pm
ANTIPOLO CITY – Digital technology and customer experience (CX) services provider Movate, Inc., formerly CSS Corp., is targeting to double the size of its business in the Philippines within the next three years, chief executive officer Sunil Mittal said. At the launch of its newest facility at… Read More
Recto pushes for LandBank, DBP charter amendments
February 22, 2024, 2:38 pm
MANILA – Finance Secretary Ralph G. Recto has said the Department of Finance (DOF) is exploring the amendments to the charters of the Land Bank of the Philippines (LandBank) and Development Bank of the Philippines (DBP) "to broaden capital market". In a statement on Thursday, the finance… Read More
BOC-Legazpi eyes P1-B monthly as int'l container line starts ops
February 22, 2024, 9:55 am
LEGAZPI CITY – The Bureau of Customs (BOC)-Port of Legazpi announced on Wednesday that the first international container line in Bicol will start its operations in March and eyed to bring PHP1 billion monthly collection. Segundo Sigmund Freud Barte Jr., Bureau of Customs (BOC) acting district… Read More
Recto: G-24 states must double efforts for sustainable dev't goals
February 21, 2024, 8:55 pm
MANILA – Finance Secretary Ralph Recto on Wednesday urged member states of the Intergovernmental Group of Twenty-Four (G-24) to reclaim their lost momentum through heightened cooperation and scaled-up support from international financial institutions. In his opening remarks for the G-24… Read More
KMC Savills sees increased demand for Pag-IBIG housing loans
February 21, 2024, 8:30 pm
MANILA – Real estate brokerage and consultancy firm KMC Savills said on Wednesday that most middle-market consumers now opt to avail of housing loans from Pag-IBIG Fund to finance their dream homes outside Metro Manila. "What we've seen is that because of the high interest rates, more and more… Read More
PH auto industry sets conservative 468K-unit sales target in 2024
February 21, 2024, 7:54 pm
MANILA – The local automotive industry has set a conservative target for 2024 but remained hopeful to hit the 500,000 mark this year. Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) president Rommel Gutierrez said in a statement Wednesday that the industry targets sales of… Read More
2023 earnings, foreign buyers lift PSEi as peso strengthens
February 21, 2024, 7:08 pm
MANILA – Results of the 2023 earnings of listed firms and activities from foreign buyers lifted the local bourse on Wednesday, while the peso also strengthened finishing at 55-level. The Philippine Stock Exchange index (PSEi) improved by 42.70 points to 6,897.36, with All Shares closing higher… Read More
Amazon to join Dow Jones Industrial Average, replace Walgreens
February 21, 2024, 5:29 pm
ISTANBUL – Amazon.com Inc. will replace Walgreens Boots Alliance Inc. in the Dow Jones Industrial Average (DJIA), S&P Dow Jones Indices announced Tuesday. "Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas… Read More
Concepcion proposes staggered rollout of P100 wage hike
February 21, 2024, 3:31 pm
MANILA – Private Sector Advisory Council (PSAC) head for jobs and Go Negosyo founder Joey Concepcion on Wednesday suggested the proposed PHP100 wage hike should be implemented on a staggered basis and not just in one go. In an interview with Bagong Pilipinas Ngayon, Concepcion said the past… Read More
DTI-Bulacan targets 20 villages for ‘Gabay' business dev't program
February 21, 2024, 3:29 pm
CITY OF MALOLOS – The Department of Trade and Industry (DTI) Bulacan Provincial Office is targeting 20 barangays in the province covering all the congressional districts to implement the “Gabay sa Barangay: Enterprise Development Program”. In a statement on Wednesday, Emmanuel Caleon,… Read More
BSP, PDIC sign revised deal on info exchange
February 21, 2024, 3:00 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC) have signed a revised memorandum of agreement (MOA) on information exchange. In a statement on Wednesday, the BSP said the revised MOA, signed on Feb. 8 by BSP Governor Eli Remolona Jr. and… Read More
