Business

Factory output grows in December

Factory output grows in December

February 7, 2024, 1:48 pm

MANILA – Manufacturing output both in volume and value grew at a faster pace in December last year, the Philippine Statistics Authority (PSA) said. PSA data released on Wednesday showed that the value of production index (VaPI) grew by 2.6 percent, faster than the 2 percent expansion in November… Read More

ARTA, ECCP sign deal to improve ease of doing business

ARTA, ECCP sign deal to improve ease of doing business

February 6, 2024, 8:21 pm

MANILA – The Anti-Red Tape Authority (ARTA) and the European Chamber of Commerce of the Philippines (ECCP) signed on Tuesday a memorandum of understanding (MOU) to further improve the ease of doing business in the Philippines. "Basically, (in) the MOU, we recognize the ECCP as ARTA champions,… Read More

DTI flags physical, online non-compliant vape shops

DTI flags physical, online non-compliant vape shops

February 6, 2024, 7:14 pm

MANILA – The Department of Trade and Industry (DTI) has flagged physical and online stores of vapes which are not compliant with Republic Act (RA) 11900, or the Vaporized Nicotine and Non-Nicotine Products Regulation Act, and its implementing rules and regulations (IRR). In a statement Tuesday,… Read More

From groceries to revenge travel: Pinoys shift GC spending post-Covid

From groceries to revenge travel: Pinoys shift GC spending post-Covid

February 6, 2024, 5:28 pm

MANILA – Filipinos have shifted their spending behavior when it comes to gift certificates (GCs) after the coronavirus disease 2019 (Covid-19) lockdowns, according to French employee benefits and engagement partner firm Pluxee. Pluxee Philippines chief executive officer Mert Cetin said Tuesday… Read More

BTr rejects bids for Treasury bonds

BTr rejects bids for Treasury bonds

February 6, 2024, 5:05 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday rejected bids from Treasury bonds (T-bonds) due to higher bid yields. "With a remaining term of four years and 11 months, the average rate for the re-issued T-bonds reached 6.219 percent had it been awarded," the BTr said in a statement. The… Read More

Low January inflation boosts local shares, peso recovers

Low January inflation boosts local shares, peso recovers

February 6, 2024, 5:00 pm

MANILA – The significant drop in last month’s inflation rate has boosted investors to buy local shares, while the peso recovered from depreciation during the trading day. The Philippine Stock Exchange index (PSEi) rallied for the third day, increasing by 27.04 points to 6,755.26 as All Shares… Read More

DTI eyes 128K engineers as PH chosen for US CHIPS Act aid

DTI eyes 128K engineers as PH chosen for US CHIPS Act aid

February 6, 2024, 2:02 pm

MANILA – The Department of Trade and Industry (DTI) is eyeing to produce 128,000 engineers for the semiconductor industry as the Philippines and the United States partnered to develop the domestic sector. In a statement Tuesday, the DTI said the country aims to achieve this target by 2028. This… Read More

PH inflation slows to 2.8% in January, lowest since Oct. 2020

PH inflation slows to 2.8% in January, lowest since Oct. 2020

February 6, 2024, 11:46 am Updated on February 6, 2024, 5:44 pm

MANILA – The country's headline inflation in January this year further eased to 2.8 percent, its lowest level since October 2020, the Philippine Statistics Authority (PSA) reported on Tuesday. In a briefing, PSA Undersecretary and National Statistician Dennis Mapa said last month's headline… Read More

PSEi sustains rally at 6,700-level, peso weakens

PSEi sustains rally at 6,700-level, peso weakens

February 5, 2024, 6:42 pm

MANILA – The local stock market sustained its rally at 6,700 level on Monday, while the peso fell after returning to 55-level in the last trading day. The benchmark Philippine Stock Exchange index (PSEi) improved 20.97 points to 6,728.22, with broader All Shares also gaining by 8.32 points to… Read More

IPOPHL to provide patent services to Brunei’s IP office

IPOPHL to provide patent services to Brunei’s IP office

February 5, 2024, 6:14 pm

MANILA – The Intellectual Property Office of the Philippines (IPOPHL) will be providing patent services to Brunei Darussalam IP Office (BruIPO), processing a maximum of 200 applications a year over the next five years. In a statement Monday, IPOPHL director general Rowel Barba said BruIPO is… Read More

BPI pioneers consumer loans for 'green solutions'

BPI pioneers consumer loans for 'green solutions'

February 5, 2024, 5:36 pm

MANILA – The Bank of the Philippine Islands (BPI) is pioneering the country's consumer loan for "green" purchases. The bank launched on Monday BPI Green Solutions providing solar mortgage, eco-build financing and electric vehicle (EV) financing. In line with the Marcos administration's… Read More

LandBank's loans to agri dev’t record double-digit growth in '23

LandBank's loans to agri dev’t record double-digit growth in '23

February 5, 2024, 3:39 pm

MANILA – State-owned Land Bank of the Philippines (LandBank) said loans to agriculture and rural development recorded double-digit growth in 2023. In a statement Monday, LandBank said outstanding loans to the entire agricultural value chain amounted to PHP755.1 billion as of end-December 2023,… Read More

Oil prices up for 5th straight week

Oil prices up for 5th straight week

February 5, 2024, 3:03 pm

MANILA – Oil firms would hike pump prices for a fifth consecutive week. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP0.75 per liter and higher increment for diesel prices at PHP1.50 per liter Caltex, Seaoil, and… Read More

US aid agency, PH start talks on strengthening governance 

US aid agency, PH start talks on strengthening governance 

February 5, 2024, 2:55 am

MANILA – The United States’ foreign assistance agency Millennium Challenge Corporation (MCC) has started talks with Philippine officials for the threshold program. MCC Chief Executive Officer Alice Albright said she met with Department of Finance (DOF) Secretary Ralph Recto last Feb. 1, more… Read More

Local shares exceed 6,700, peso back to 55-level

Local shares exceed 6,700, peso back to 55-level

February 2, 2024, 7:20 pm

MANILA – The Philippine Stock Exchange index (PSEi) rebounded on Friday reaching the 6,700-mark, while the local currency returned to 55-level. The PSEi closed this week’s trading higher by 84.24 points at 6,707.25, with All Shares also going up by 30.79 points at 3,516.82. All sectoral… Read More

PH to debut at Singapore Airshow

PH to debut at Singapore Airshow

February 2, 2024, 7:14 pm

MANILA – The Philippines will host its pavilion at the 2024 Singapore Airshow, the country’s first participation in the premier exhibition for the aviation industry. Supported by the European Chamber of Commerce of the Philippines (ECCP) in cooperation with the Department of Transportation… Read More

Clark airport wants to double passenger volume to 4M in 2024

Clark airport wants to double passenger volume to 4M in 2024

February 2, 2024, 6:25 pm

MANILA – The Clark International Airport Corp. (CIAC) targets to double the passenger volume at the Clark International Airport this year to 4 million, its president and chief executive officer Arrey Perez said Friday. In a press briefing for the Philippines’ debut at the 2024 Singapore… Read More

Alternergy wind projects to source turbines from Chinese supplier

Alternergy wind projects to source turbines from Chinese supplier

February 2, 2024, 5:04 am

MANILA – Pioneering renewable energy (RE) firm Alternergy Holdings Corp. will source turbines for its Alabat and Tanay wind power projects from China-based Envision Energy. In a statement, Alternergy said it awarded the turbine supply contract to Envision on Thursday for the Alabat and Tanay… Read More

Methane emission reduction, low-hanging energy cooperation for PH, US

Methane emission reduction, low-hanging energy cooperation for PH, US

February 1, 2024, 9:04 pm

MANILA – Aside from engaging with the Philippines for its clean energy transition, a United States official said cutting down methane emissions is a low-hanging fruit for both countries in energy cooperation. In a virtual press briefing with reporters from Philippines, Vietnam and South Korea on… Read More

Gov't raising P100M for bamboo dev't, promotion in 2024

Gov't raising P100M for bamboo dev't, promotion in 2024

February 1, 2024, 8:31 pm

MANILA – The Philippine government targets to spend over PHP100 million on developing the capabilities of the domestic bamboo industry and promoting Filipino innovations in bamboo architecture despite budgetary constraints. In an interview on Thursday, Department of Agriculture (DA)… Read More