Business
FMCG firm expects biz growth above domestic growth rate
February 12, 2024, 8:31 pm
MANILA – Unilever Philippines, one of the leading manufacturers of fast-moving consumer goods (FMCG), remains optimistic about the domestic market as it expects revenues this year to be higher than the country’s gross domestic product (GDP) growth. In an interview in Taguig City Monday,… Read More
DOE eyes non-FIT eligible renewables for Green Energy Auction
February 12, 2024, 7:50 pm
MANILA – The Department of Energy (DOE) announced on Monday it will conduct the third round of Green Energy Auction (GEA-3) this year, focusing on renewable energy projects that are not eligible for feed-in tariff (FIT). In a statement, DOE said there are estimated 4,199 megawatts (MW) of… Read More
Gov't raises P17B from T-bills auction
February 12, 2024, 4:01 pm
MANILA – The government raised PHP17 billion from the Treasury bills (T-bills) auction, higher than the initial PHP15-billion program as bids amounted to more than PHP40 billion. The Bureau of the Treasury (BTr) said it fully awarded bids for T-bills during Monday's auction. The 91-, 182-, and… Read More
Oil price rollback set Feb.13
February 12, 2024, 3:03 pm
MANILA – Oil companies will reduce fuel prices on Tuesday after five weeks of price hikes. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will slash gasoline prices by PHP0.60 per liter and PHP0.10 per liter for diesel. Caltex, Seaoil, and Shell will… Read More
FDI net inflows up by 27% in November
February 12, 2024, 1:26 pm
MANILA – The net inflow of foreign direct investments (FDIs) went up by 27.8 percent in November last year. Data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed that FDI net inflows during the month amounted to USD1 billion, higher than the USD800 million net inflows recorded… Read More
Privacy body to boost awareness among Filipinos
February 12, 2024, 8:29 am
MANILA – The National Privacy Commission (NPC) is focusing on protecting personal information and promoting privacy awareness among Filipinos this year. In a statement over the weekend, the NPC said it aims to ensure that every Filipino understands the fundamental concepts of data privacy and… Read More
PBBM foreign trips pay off as $14.2-B pledges now working
February 11, 2024, 1:45 pm
MANILA – Around USD14.2 billion worth of investment commitments from President Ferdinand R. Marcos Jr.’s foreign trips in the past 16 months have begun turning up as of December 2023, the Department of Trade and Industry (DTI) reported Sunday. DTI said the investments came from 46 projects… Read More
Recto recommends setting 'more realistic' growth target
February 11, 2024, 12:10 pm
MANILA – The government may need to adjust its medium-term economic growth target and come up with more realistic goals, Department of Finance (DOF) Secretary Ralph Recto said. The inter-agency Development Budget Coordination Committee (DBCC) met on Feb. 5 to discuss progress towards the… Read More
Finance chief not expecting further rate hike
February 9, 2024, 10:14 am
MANILA – Finance Secretary Ralph Recto said he does not expect interest rates to further increase as inflation is already easing. "I don’t expect a future rate hike because inflation is going down and it seems that it’s going down globally also," Finance Secretary Ralph Recto said on the… Read More
BSP: Loan growth steady, domestic liquidity slows in December
February 9, 2024, 9:50 am
MANILA – Bank lending of universal and commercial banks (U/KBs) maintained its growth rate in December last year while domestic liquidity grew at a slower rate. Data released by the Bangko Sentral ng Pilipinas (BSP) late Thursday showed that U/KBs’ outstanding loans, excluding those placed in… Read More
SMC consortium ready to elevate NAIA to ‘world-class standard’
February 8, 2024, 7:43 pm Updated on February 8, 2024, 8:20 pm
MANILA – San Miguel Corporation (SMC) announced its readiness to take on the modernization of the Ninoy Aquino International Airport (NAIA) after its SMC SAP & Company Consortium's financial offer was deemed the superior among three bidders during Thursday’s proceedings at the Department of… Read More
Non-performing loan ratio at 3.23% in December
February 8, 2024, 7:24 pm
MANILA – The proportion of non-performing loans (NPLs) of Philippine banks to their total loans settled at 3.23 percent as of end-December last year, the Bangko Sentral ng Pilipinas (BSP) said. Data released by the BSP on Thursday showed that the NPL ratio during the month was lower than the… Read More
BIR collections up by 8% in 2023
February 8, 2024, 6:50 pm
MANILA – The Bureau of Internal Revenue's (BIR) tax collections went up by 8 percent last year. BIR Commissioner Romeo Lumagui Jr., at the sidelines of the National Tax Campaign Kick-off held at the Philippine International Convention Center on Thursday, said collections last year amounted to… Read More
Strong PH, US economic boost index, peso
February 8, 2024, 6:45 pm
MANILA – Strong jobs data in the Philippines and healthy earnings for the fourth quarter of 2023 in the US markets boosted the local index and currency on Thursday’s trading. The Philippine Stock Exchange index (PSEi) completed the week’s trading with gains, with the fresh improvement of… Read More
ARTA targets 120 LGUs for eBOSS full compliance in 2024
February 8, 2024, 2:22 pm
MANILA – The Anti-Red Tape Authority (ARTA) is targeting an additional 120 local government units (LGUs) across the country to be fully compliant with the electronic Business One-Stop Shop (eBOSS) system this year. ARTA Director General Ernesto Perez said in a press conference in Quezon City… Read More
Meralco power rate up P0.57/kWh in Feb
February 8, 2024, 2:21 pm
MANILA – The Manila Electric Company (Meralco) has again hiked the power rate in its franchise areas for February. Meralco announced Thursday that electricity charges for the month increased by PHP0.5738 per kilowatt hour to PHP11.9168 per kWh from PHP11.3430 per kWh in January. “For… Read More
PH records $103.4-B foreign reserves as of end-January
February 8, 2024, 10:57 am
MANILA – The country's gross international reserves (GIR) amounted to USD103.4 billion as of end-January this year, slightly lower than a year ago's USD103.8 billion, the Bangko Sentral ng Pilipinas (BSP) said. In a statement late Wednesday, the BSP said the decline in GIR last month "reflected… Read More
Inflation rate in Ilocos Region slows to 1.5%
February 7, 2024, 8:30 pm
LINGAYEN, Pangasinan – The rate of price increases in the Ilocos Region decelerated to 1.5 percent last January from the previous month’s 2.3 percent, driven by slower inflation rates of the food and non-alcoholic beverages. "Food index in Ilocos Region decreased to 4.7 percent in January 2024… Read More
Improved disposition toward using credit, financing to boost spending
February 7, 2024, 8:06 pm
MANILA – Personal consumption, which is one of the biggest drivers of the country’s economic growth, is expected to get a boost as more Filipinos tap financial institutions and formal lenders to borrow money, a financing company said. Home Credit Philippines (HCPH) chief marketing officer… Read More
PSEi rallies to 6,800-mark, peso strengthens to 55-level
February 7, 2024, 7:48 pm
MANILA – Both the local shares and currency strengthened on Wednesday’s trading as the government reported that the unemployment rate further eased to 3.1 percent in December 2023. In its fourth day rally, the Philippine Stock Exchange index (PSEi) hit 6,830.04, gaining 74.78 points. Rizal… Read More
