Business

Budget deficit down to P34B in October

Budget deficit down to P34B in October

November 29, 2023, 3:17 pm

MANILA – The national government's budget deficit declined by 65.2 percent in October this year due to higher revenue collections, the Bureau of the Treasury (BTr) said Wednesday. The government incurs a budget deficit when spending exceeds its revenues. "The National Government’s fiscal… Read More

Investment forum generates over P1-B in pledges for Iloilo City

Investment forum generates over P1-B in pledges for Iloilo City

November 28, 2023, 8:31 pm

ILOILO CITY – This city has received over PHP1 billion worth of committed investments from the recent business forum coordinated by the Iloilo Economic Development Foundation (ILEDF), in partnership with the Metro Iloilo-Guimaras Economic Development Council (MIGEDC). Mayor Jerry Treñas said… Read More

Stocks up on lower oil prices, peso nearly flat

Stocks up on lower oil prices, peso nearly flat

November 28, 2023, 7:26 pm

MANILA – The Philippine Stock Exchange index (PSEi) rallied on Tuesday backed by lower oil prices, but the peso closed almost unchanged against the United States dollar. "The local bourse gained by 40.07 points (0.64 percent) to 6,309.57 thanks to the easing of oil prices amid the temporary… Read More

BTr fully awards Treasury bills

BTr fully awards Treasury bills

November 28, 2023, 4:55 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 4.753 percent, 5.181 percent, and 5.727 percent, respectively – all significantly lower than previous auction and prevailing… Read More

Construction industry to support economic growth - DTI

Construction industry to support economic growth - DTI

November 28, 2023, 4:48 pm

MANILA – The Department of Trade and Industry (DTI) is optimistic that the country's construction industry will continue to grow, driven by the government's infrastructure program. DTI Assistant Secretary and Construction Industry Authority of the Philippines (CIAP) alternate chairperson Agaton… Read More

Mimaropa minimum wage earners soon to live above poverty threshold

Mimaropa minimum wage earners soon to live above poverty threshold

November 28, 2023, 4:40 pm

CALAPAN CITY, Oriental Mindoro – All private sector employees in this region are expected to live above the accepted poverty threshold after a PHP40 per day wage hike takes effect on Dec. 7. In an interview on Tuesday, Naomi Lyn Abellana, regional director of the Department of Labor and… Read More

Batangas eyes tourism, other sectors for dev’t to boost economy

Batangas eyes tourism, other sectors for dev’t to boost economy

November 27, 2023, 8:42 pm

BATANGAS CITY – The provincial government of Batangas has identified several key industries which, if properly cultivated and developed, have the potential to propel the local economy to unprecedented heights. In an interview on Monday, Governor Hermilando Mandanas said his administration will… Read More

Diesel, kerosene prices up Nov. 28; gasoline unchanged

Diesel, kerosene prices up Nov. 28; gasoline unchanged

November 27, 2023, 3:27 pm Updated on November 27, 2023, 6:03 pm

MANILA – After several weeks of rollbacks, pump prices of petroleum products will increase effective Tuesday. In separate advisories, Seaoil Philippines Inc., Caltex Philippines, Pilipinas Shell Petroleum Corp. and Petron Corp. said they will increase diesel prices by PHP0.30 per liter and… Read More

AMRO: PH to sustain growth momentum

AMRO: PH to sustain growth momentum

November 27, 2023, 2:08 pm

MANILA – Philippine economic growth is expected to remain robust amid high inflation and weaker external demand, according to the ASEAN+3 Macroeconomic Research Office (AMRO). "The Philippine economy maintained its robust growth momentum in the first three quarters of 2023, following a… Read More

PH to offer maiden Sukuk bonds

PH to offer maiden Sukuk bonds

November 27, 2023, 12:33 pm

MANILA – The Philippine government on Monday announced the sale of its maiden Islamic bonds or Sukuk bonds. In an announcement, the Bureau of the Treasury (BTr) said it is planning the issuance of a benchmark-sized US dollar-denominated Sukuk bonds offering, which will have a 5.5-year tenure. It… Read More

NEDA prefers solicited bids for MRT-3, LRT-2 operations, maintenance

NEDA prefers solicited bids for MRT-3, LRT-2 operations, maintenance

November 26, 2023, 11:00 pm

MANILA – The National Economic and Development Authority (NEDA) prefers to get solicited bids for the operations and maintenance (O&M) of the Metro Rail Transit Line 3 (MRT-3) and Light Rail Transit Line 2 (LRT-2), Secretary Arsenio Balisacan said. Balisacan said solicited proposals have better… Read More

PEZA eyes Palawan as site of first PH mega ecozone

PEZA eyes Palawan as site of first PH mega ecozone

November 26, 2023, 6:59 pm

MANILA – The Philippine Economic Zone Authority (PEZA) is eyeing to build the country’s first mega economic zone that will be located in Puerto Princesa City, Palawan with a land development of around 26,000 hectares, Director General Tereso Panga said.  Panga said mega ecozones are the… Read More

PH hits $1-B mark sales in China buying expo

PH hits $1-B mark sales in China buying expo

November 26, 2023, 3:48 pm

MANILA – The Philippines has surpassed its target sales in this year’s China International Import Expo (CIIE) with sales amounting to USD1.1 billion, the Center for International Trade Expositions and Missions (CITEM) reported over the weekend. The total sales in the 6th CIIE exceeded the… Read More

DMCI eyes opening of 2 new mining sites in H1 2024

DMCI eyes opening of 2 new mining sites in H1 2024

November 26, 2023, 1:03 pm

MANILA – DMCI Mining Corp. is optimistic that its two new mine sites will start operations by the first half of 2024 and create additional employment in host areas.  DMCI Mining president Tulsi Das Reyes said the first mining site, located in its existing site in Zambales, will be operational… Read More

Bargain-hunting backs PSEi; peso closes week sideways 

Bargain-hunting backs PSEi; peso closes week sideways 

November 24, 2023, 8:47 pm

MANILA – The local shares' rally for the third straight day was backed by bargain-hunting activities, while the peso ended the week almost flat.  The Philippine Stock Exchange index (PSEi) improved by 23.30 points to 6,269.50, with All Shares also increasing by 20.21 points to 3,348.22. … Read More

PH-UAE trade, investments seen to grow fivefold thru CEPA

PH-UAE trade, investments seen to grow fivefold thru CEPA

November 24, 2023, 7:57 pm

MANILA – The United Arab Emirates (UAE) targets to achieve a fivefold increase in trade and investments with the Philippines within three to five years once the Comprehensive Economic Partnership Agreement (CEPA), the free trade agreement between Manila and Abu Dhabi, enters into force. Visiting… Read More

Stakeholders collaborate to entice investors to Batangas

Stakeholders collaborate to entice investors to Batangas

November 24, 2023, 7:34 pm

MALVAR, Batangas – Private and public entities engaged in developing an industrial park here have agreed that the path towards success involves jointly promoting and attracting foreign direct investments to the province. This was gleaned after representatives of the Batangas provincial… Read More

PH could lose investors to Bangladesh sans nuke plant – group

PH could lose investors to Bangladesh sans nuke plant – group

November 24, 2023, 6:20 pm

MANILA – The Philippine government was urged on Friday to set a clear direction in its nuclear energy policy and expedite plans to switch on the country’s first nuclear power plant in the near term. At the Pandesal Forum in Quezon City, nuclear energy advocate Alpas Pilipinas lead convenor… Read More

DBP lends PHP1.4-B for 8.4-MW Mindanao hydropower plant

DBP lends PHP1.4-B for 8.4-MW Mindanao hydropower plant

November 24, 2023, 4:35 pm

MANILA – The state-owned Development Bank of the Philippines (DBP) said Friday it has extended a PHP1.4 billion loan to INVESTCO BHPI, Inc. as partial funding for the construction of an 8.4-megawatt (MW) hydroelectric power plant in Bukidnon. In a statement, the DBP said the 8.4-MW Maladugao… Read More

Economist sees further easing of inflation in Nov.

Economist sees further easing of inflation in Nov.

November 24, 2023, 2:50 pm

MANILA – Headline inflation likely further eased in November due to higher base effects and lower global crude oil prices, an economist said on Friday. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort told the Philippine News Agency that headline inflation is… Read More