Business

German RE firm eyes P56-B wind, solar projects in PH

German RE firm eyes P56-B wind, solar projects in PH

March 13, 2024, 8:22 pm

MANILA – Apart from the USD4 billion worth of investment deals presented to President Ferdinand R. Marcos Jr. during a business forum in Berlin, the Chief Executive has received a separate investment commitment of USD1.03 billion (PHP56 billion) from a German renewable energy (RE) firm. The… Read More

February inflation in Mimaropa region eases to 3.4%

February inflation in Mimaropa region eases to 3.4%

March 13, 2024, 8:20 pm

CALAPAN CITY, Oriental Mindoro – Headline inflation in the five-province Mimaropa region eased to 3.4 percent in February, down slightly from the 3.6 percent registered in the year’s opening month. In an interview on Wednesday, Ana Patricia Ramos, statistical specialist II at the Philippine… Read More

2 US firms earmark P44-B energy, telco investments in PH

2 US firms earmark P44-B energy, telco investments in PH

March 13, 2024, 6:24 pm

MANILA – Two American companies earmarked over PHP44 billion (USD800 million) for their energy and telecommunications infrastructure projects in the Philippines. The United States Department of Commerce announced Wednesday (Manila time) that New York-based investment firm KKR & Co., Inc. is… Read More

PSEi mirrors US market performance; peso moves sideways on Wednesday

PSEi mirrors US market performance; peso moves sideways on Wednesday

March 13, 2024, 5:55 pm

MANILA – The Philippine Stock Exchange index (PSEi) went up by 1.25 percent, taking cues from the US markets while the peso moved sideways on Wednesday. The PSEi closed at 6,965.51 while All Shares, likewise, went up 0.95 percent to 3,614.20. "The local bourse jumped by 85.92 points (1.25… Read More

Balisacan urges Congress to pass NEDA reorganization bill

Balisacan urges Congress to pass NEDA reorganization bill

March 13, 2024, 4:49 pm

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Wednesday urged lawmakers to pass the bill seeking the reorganization of the NEDA Secretariat. During the inaugural public hearing of the Economy, Planning, and Development Bill in the 19th Congress at the… Read More

US solar panel maker picks PH over China, Vietnam for new factory

US solar panel maker picks PH over China, Vietnam for new factory

March 13, 2024, 4:12 pm

MANILA – Silicon Valley-based Sol-Go Inc. has chosen to build its new solar panel factory in the Philippines over manufacturing hubs in the region like China and Vietnam. Sol-Go founder and chief executive officer Scott McHugo, who is part of the Presidential Trade and Investment Mission led by… Read More

BSP: National ID tops list of valid IDs

BSP: National ID tops list of valid IDs

March 13, 2024, 1:58 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) has directed banks and other BSP-supervised financial institutions (BSFIs) to place the Philippine identification card (PhilID) at the top of the list of acceptable valid IDs. In a statement on Wednesday, the BSP said all BSFIs must adopt enhanced… Read More

Swedish investors explore investment opportunities in PH

Swedish investors explore investment opportunities in PH

March 13, 2024, 12:42 pm

MANILA – Swedish investors have expressed interest in investing in the Philippines due to the country's robust macroeconomic fundamentals, improved business climate, and highly skilled workforce. In a statement Wednesday, the Department of Finance (DOF) said Finance Secretary Ralph Recto met… Read More

Oil prices up on escalating tensions in Middle East, demand outlook

Oil prices up on escalating tensions in Middle East, demand outlook

March 12, 2024, 9:01 pm

ANKARA – Oil prices increased on Tuesday due to rising conflict in the Middle East, while investors await several key supply and demand data sets from the Organization of Petroleum Exporting Countries (OPEC), as well as inflation data from the US Federal Reserve (Fed).  International benchmark… Read More

Shares, peso up slightly ahead of US inflation data

Shares, peso up slightly ahead of US inflation data

March 12, 2024, 8:27 pm

MANILA – Both local shares and the peso moved sideways, slightly improving in Tuesday’s trading. The Philippine Stock Exchange index (PSEi) inched up by 7.35 points, or 0.11 percent, to 6,879.59, with All Shares also increasing by 0.16 percent to 3,580.31. Sectoral indices were mixed with… Read More

White House, US biz: We choose to prioritize PH

White House, US biz: We choose to prioritize PH

March 12, 2024, 7:55 pm

MANILA – Since President Ferdinand R. Marcos Jr. began his term in 2022, the United States has sent a number of White House officials to the Philippines while American companies have committed to invest in the country. In a meeting with Filipino and American business leaders at a Makati City… Read More

BOC-Iloilo ready to cater to int'l container arrivals

BOC-Iloilo ready to cater to int'l container arrivals

March 12, 2024, 6:41 pm

ILOILO CITY – The Bureau of Customs (BOC) Port of Iloilo is ready to accommodate import and export container cargo services from different economic hubs of the world, District Collector Julius B . Premediles has said. Premediles, through the Iloilo City Government's Local Economic Development… Read More

BTr fully awards reissued T-bonds

BTr fully awards reissued T-bonds

March 12, 2024, 6:25 pm

MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued Treasury bonds during Tuesday’s auction. The T-bonds offering amounted to PHP30 billion but it was more than thrice oversubscribed as total tenders reached PHP96.071 billion. The 10-year debt securities hae a remaining term… Read More

Mild deflation in Ilocos Sur continues to benefit consumers

Mild deflation in Ilocos Sur continues to benefit consumers

March 12, 2024, 5:50 pm

LAOAG CITY – Consumers are benefiting from the four consecutive months of deflation in Ilocos Sur until February this year, authorities said Tuesday. The rate of price increases in Ilocos Sur has been in negative territory since November 2023, with the February level at negative 1.1 percent,… Read More

'Trabaho Para sa Bayan' IRR signed; focus on high-quality jobs

'Trabaho Para sa Bayan' IRR signed; focus on high-quality jobs

March 12, 2024, 4:50 pm

MANILA – The country’s labor market is exhibiting signs of steady progress amid domestic and external risks, boosted by a historic low 3.1-percent unemployment rate in December 2023. On Tuesday, the National Economic and Development Authority (NEDA) led the signing of the implementing rules… Read More

Turkish coffee exports tripled over 5 years

Turkish coffee exports tripled over 5 years

March 12, 2024, 4:35 pm

ANKARA – Türkiye exported 800,600 tons of coffee to 146 countries last year, generating USD57.4 million in revenue, as exports of the commodity tripled over the last five years, according to recent data published by the country’s statistical bureau TurkStat. Revenues from coffee exports… Read More

Bicol inflation rate decelerates to 2.9% in February

Bicol inflation rate decelerates to 2.9% in February

March 12, 2024, 3:38 pm

LEGAZPI CITY – The Philippine Statistics Authority 5 (PSA Bicol) reported on Tuesday that the inflation rate in the region slowed down from 3.1 percent in January to 2.9 percent in February. Based on the summary inflation report, PSA Regional Director Cynthia Perdiz said the February 2023… Read More

Apl.de.Ap Foundation, ADB, US firm to give EV training in PH

Apl.de.Ap Foundation, ADB, US firm to give EV training in PH

March 12, 2024, 2:38 pm

MANILA – The foundation of Filipino-American rapper and singer Allan Pineda a.k.a Apl.de.Ap has partnered with the Asian Development Bank (ADB), and Arizona-based Legacy EV, LLC to equip young Filipinos with technical know-how on the electric vehicle (EV) sector. Apl.de.Ap Foundation… Read More

Freeport Area of Bataan registers P14-B in investments in 2023

Freeport Area of Bataan registers P14-B in investments in 2023

March 12, 2024, 2:25 pm

MANILA – The Authority of the Freeport Area of Bataan (AFAB) has registered PHP14-B in investments, most of which came in since Administrator and CEO Mohammed Hussein P. Pangandaman assumed office in May 2023. The San Miguel conglomerate led local locators with investments going into the… Read More

Global arms trade shrinks by 3.3% in 2019-2023

Global arms trade shrinks by 3.3% in 2019-2023

March 12, 2024, 2:05 pm

ISTANBUL – The volume of the international arms trade contracted by 3.3 percent between 2019 and 2023 compared to the preceding five-year period, according to a report released on Monday. However, during the same period, major arms imports into European countries increased by 94 percent, the… Read More