Business

Gov't eyes retail Treasury bond offering in Q1

Gov't eyes retail Treasury bond offering in Q1

January 19, 2024, 2:59 pm

MANILA – The government is eyeing the issuance of another retail treasury bond (RTB) as part of its efforts to raise the PHP2.46-trillion total financing requirement for this year. In a statement on Friday, the Finance department said the Bureau of the Treasury (BTr) targets to issue the 30th… Read More

Shutdown of Red Sea route to hike shipping fees by 15%

Shutdown of Red Sea route to hike shipping fees by 15%

January 19, 2024, 10:01 am

MANILA – The suspension of shipping routes through the Red Sea will hike shipping fees and delay the trade of goods which may affect exporters from ecozones in the future, Philippine Economic Zone Authority (PEZA) Director General Tereso Panga said Friday. “The closure and shutdown of the Red… Read More

PH startups shift focus to profitability

PH startups shift focus to profitability

January 18, 2024, 7:41 pm

MANILA – Filipino startups are shifting their focus from pushing for the expansion of their businesses to gaining more profit this year, Uniquecorn Strategies’ 2024 Philippine Startups Outlook showed. This shift was driven by the 40-percent drop in investments in local startups last year,… Read More

CEB adding aircraft to address offloading, cancellations issues

CEB adding aircraft to address offloading, cancellations issues

January 18, 2024, 7:15 pm

DAVAO CITY – Low-cost carrier Cebu Pacific (CEB) has assured clients that it will address the issues of offloading and flight cancellations to meet the demand for air travel by adding more aircraft this year.In a press briefing on Thursday, Carmina Romero, the CEB corporate communications… Read More

Stocks down, peso moves sideways Thursday

Stocks down, peso moves sideways Thursday

January 18, 2024, 6:10 pm

MANILA – Local shares closed the trading weak on Thursday while the peso moved sideways. The Philippine Stock Exchange index (PSEi) shed 61.64 points, closing at 6,510.87, while All Shares likewise went down by 25.45 points to 3,451.21. "This Thursday, the local market dropped by 61.64 points… Read More

Recto urges Congress to partner with DOF in passing crucial reforms

Recto urges Congress to partner with DOF in passing crucial reforms

January 18, 2024, 5:34 pm

MANILA – Finance Secretary Ralph Recto on Thursday urged Congress to partner with the Department of Finance for the swift passage of reforms needed to reduce the country's deficit and debt levels. “You already know the drill. None of these crucial measures will come to fruition without your… Read More

Rosy outlook for travel agencies as Filipinos go on more trips

Rosy outlook for travel agencies as Filipinos go on more trips

January 18, 2024, 5:15 pm

MANILA – The Philippine Travel Agencies Association (PTAA) sees up to a 25-percent growth in travel bookings this year, supported by the strong appetite among Filipinos to go on trips both domestic and foreign destinations. In a press conference in Makati City Thursday, PTAA’s Travel Tour Expo… Read More

Managing inflation backs PH economic expansion in 2024

Managing inflation backs PH economic expansion in 2024

January 18, 2024, 5:15 pm

MANILA – The ASEAN+3 Macroeconomic Research Office (AMRO) has projected that the Philippines will emerge as the fastest growing economy in the region, especially if the government manages the country’s inflation well. The AMRO reported Thursday that its gross domestic product (GDP) growth… Read More

Gov’t sticks to 6.5-7.5% GDP growth target for 2024

Gov’t sticks to 6.5-7.5% GDP growth target for 2024

January 17, 2024, 7:49 pm

MANILA – The government is sticking to its gross domestic product (GDP) target of 6.5 to 7.5 percent for 2024 despite many organizations forecasting the economic expansion this year will miss the administration’s goal. National Economic and Development Authority (NEDA) Undersecretary Rosemarie… Read More

DTI implements gradual adjustments on SRP bulletin

DTI implements gradual adjustments on SRP bulletin

January 17, 2024, 6:35 pm

MANILA – The Department of Trade and Industry (DTI) will be adjusting suggested retail prices (SRPs) of select items by phase to assist consumers in absorbing price increases of basic goods. In an interview with Bagong Pilipinas Ngayon on Wednesday, DTI Assistant Secretary Amanda Nograles said… Read More

BIR hikes VAT exemption in sale of residential properties

BIR hikes VAT exemption in sale of residential properties

January 17, 2024, 5:35 pm

MANILA – The Bureau of Internal Revenue (BIR) has increased the threshold for value-added tax (VAT) exemption for the sale of house and lot as well as other residential dwellings from nearly PHP3.2 million to PHP3.6 million. This, as BIR Commissioner Romeo Lumagui Jr. has issued Revenue… Read More

DOE: Non-moving RE projects open opportunities for foreign investors

DOE: Non-moving RE projects open opportunities for foreign investors

January 17, 2024, 4:08 pm

MANILA – Department of Energy (DOE) Undersecretary Rowena Cristina Guevara said Wednesday the renewable energy (RE) projects that already secured service contracts (SCs) but do not progress have opened investment opportunities for foreign companies, especially from Europe. “There is a large… Read More

Landbank online fund transfers for P1K below remain free

Landbank online fund transfers for P1K below remain free

January 17, 2024, 3:21 pm

MANILA – In line with providing safe, convenient, and accessible digital banking services, the Land Bank of the Philippines (Landbank) continues to waive fees for fund transfers to other banks via InstaPay and PESONet for transactions worth PHP1,000 and below. Landbank customers can enjoy free… Read More

PH vehicle sales breach 2023 target

PH vehicle sales breach 2023 target

January 17, 2024, 10:47 am

MANILA – Sales of local vehicle assemblers in 2023 reached 429,807 units last year, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) said on Wednesday. This surpassed the target sales of 423,000 units for 2023, according to the… Read More

Profit-taking slashes local shares, peso on sideways

Profit-taking slashes local shares, peso on sideways

January 16, 2024, 10:02 pm

MANILA – The local bourse’s main index declined on profit-taking while the peso closed sideways during Tuesday's trading.  The Philippine Stock Exchange index (PSEi) finished in the red, shedding 43.45 points to 6,637.00, with All Shares down by 17.54 points to 3,506.23 level.  Philstocks… Read More

PH 1st innovation hub to provide better building solutions

PH 1st innovation hub to provide better building solutions

January 16, 2024, 8:40 pm

DAVAO CITY – To provide better building solutions, Holcim Philippines opened here on Tuesday its first innovation hub facility in the country. In a press briefing, Holcim Philippines president and chief operating officer Horia Adrian said the hub showcases sustainable building solutions and… Read More

IPOPHL targets up to 10% growth in IP filings in 2024

IPOPHL targets up to 10% growth in IP filings in 2024

January 16, 2024, 7:28 pm

MANILA – Intellectual Property Office of the Philippines (IPOPHL) Director General Rowel Barba is targeting a 5 to 10 percent increase in Intellectual property (IP) filings this year. In an interview with Bagong Pilipinas Ngayon on Tuesday, Barba said he is optimistic that the number of IP… Read More

CAB lowers fuel surcharge for February

CAB lowers fuel surcharge for February

January 16, 2024, 7:07 pm

MANILA – Fuel surcharge applicable for the entire February has been lowered from Level 6 to Level 5. Under Level 5, the fuel surcharge for domestic flights could range from PHP151 to PHP542, and from PHP498.03 to PHP3,703.11 for international flights, depending on the distance. In an advisory… Read More

Ransomware attacks in PH double in 2023

Ransomware attacks in PH double in 2023

January 16, 2024, 6:55 pm

MANILA – A commissioned survey by a cybersecurity firm has found that ransomware incidents in the Philippines became more rampant and aggressive in 2023. Fortinet Marketing and Communications for Asia and Australia and New Zealand vice president Rashish Pandey said in a media briefing in Makati… Read More

3 logistics firms eye PH as Asian hub; investing over $1B in Clark

3 logistics firms eye PH as Asian hub; investing over $1B in Clark

January 16, 2024, 5:30 pm

MANILA – Three logistics companies are eyeing to make the Philippines as their regional hub in Asia by putting up their facilities at the Clark Freeport and Special Economic Zone, Bases Conversion and Development Authority (BCDA) president and chief executive officer Joshua Bingcang said. In an… Read More