Business

Apple investing significantly to 'break new ground' in generative AI

Apple investing significantly to 'break new ground' in generative AI

February 29, 2024, 3:03 pm

ISTANBUL – Apple is investing significantly in generative artificial intelligence (AI) and will "break new ground" in this area, CEO Tim Cook said Wednesday. "Later this year, I look forward to sharing with you the ways we will break new ground in generative AI, another technology we believe… Read More

BSP forecasts February 2024 inflation between 2.8% and 3.6%

BSP forecasts February 2024 inflation between 2.8% and 3.6%

February 29, 2024, 2:19 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) projects February 2024 inflation to remain within the government's target range. In a statement on Thursday, the BSP said headline inflation will likely settle within the range of 2.8 to 3.6 percent. "Continued price increases for key food items,… Read More

DTI eyes establishing vape certification facilities

DTI eyes establishing vape certification facilities

February 29, 2024, 1:29 pm

MANILA – The Department of Trade and Industry (DTI) is planning to establish vape certification facilities in the country as part of the government's heightened enforcement operations against illegal vape products. In a statement on Thursday, the Trade department said Secretary Alfredo Pascual… Read More

PSEi recovers, peso weakens further

PSEi recovers, peso weakens further

February 28, 2024, 9:15 pm

MANILA – A wait-and-see stance for the release of the US’ January 2024 consumption expenditure data allowed the local bourse’s main index to take a breather but the peso weakened anew on Wednesday. The Philippine Stock Exchange index (PSEi) rose by 0.23 percent to 6,876.52 points and the… Read More

Filinvest Land posts record 30% growth in profit for 2023

Filinvest Land posts record 30% growth in profit for 2023

February 28, 2024, 8:48 pm

MANILA – Filinvest Land, Inc. (FLI) reported a net income attributable to equity holders of the parent totaling PHP3.77 billion based on its audited financial statements, posting a record 30-percent increase compared to the previous year. FLI's total consolidated revenues and other income rose… Read More

DA exec pushes more funding for bamboo dev't program

DA exec pushes more funding for bamboo dev't program

February 28, 2024, 5:49 pm

MANILA – The Department of Agriculture (DA) is urging national agencies involved in advancing the government’s bamboo industry development program to commit funds to the effort to move it forward. In an interview on Wednesday, Agriculture Undersecretary Deogracias Victor Savellano said the… Read More

BTr lists record-high 5-year retail treasury bonds

BTr lists record-high 5-year retail treasury bonds

February 28, 2024, 5:44 pm

MANILA – The Bureau of the Treasury (BTr) on Wednesday listed before the Philippine Dealing and Exchange Board its five-year retail treasury bonds (RTB) due on Feb. 28, 2029, which registered a record volume of PHP584.86 billion. The debt paper has a coupon rate of 6.25 per year and is 19 times… Read More

Survey sees increasing demand for Pinoys with overseas experience

Survey sees increasing demand for Pinoys with overseas experience

February 28, 2024, 4:43 pm

MANILA – Companies in the Philippines are interested in hiring Filipino professionals with overseas experience for key leadership positions, according to the latest local salary survey by the global specialist recruitment firm Robert Walters. According to the results of the 2024 Salary Survey… Read More

Toyota recalls 280K vehicles in US over unexpected movement concerns

Toyota recalls 280K vehicles in US over unexpected movement concerns

February 28, 2024, 3:39 pm

ISTANBUL – Japanese multinational automaker Toyota is recalling 280,663 vehicles in the US amid concerns over unexpected movement. "Certain parts of the transmission may not immediately disengage when the vehicle is shifted to the neutral position," US' National Highway Traffic Safety… Read More

SEC suspends sign-up of 2.3K firms in Bicol

SEC suspends sign-up of 2.3K firms in Bicol

February 28, 2024, 3:14 pm

LEGAZPI CITY – The Securities and Exchange Commission (SEC) suspended more than 2,000 corporations in Bicol for failing to submit their annual reports. In an interview on Wednesday, Arlyn Joy Alarcon, SEC-Bicol information officer, said based on the suspension order from their company… Read More

Meralco secures 400-MW interim power supply requirement

Meralco secures 400-MW interim power supply requirement

February 27, 2024, 9:53 pm

MANILA – The Manila Electric Company (Meralco) on Tuesday announced that it secured a 400-megawatt interim power supply requirement following a successful Competitive Selective Process (CSP). Meralco awarded the 400-MW Interim Power Supply Agreement (IPSA) to Limay Power, Inc. as it offered a… Read More

Cost of rationalized infra flagship projects climbs to P9T

Cost of rationalized infra flagship projects climbs to P9T

February 27, 2024, 8:55 pm

MANILA – The National Economic and Development Authority (NEDA) Board has reduced the number of the administration's Infrastructure Flagship Projects (IFPs) but their cost has climbed to PHP9.14 trillion from PHP8.7 trillion at end-2023. The NEDA Board, chaired by President Ferdinand R. Marcos… Read More

New 20-year T-bonds 3x oversubscribed

New 20-year T-bonds 3x oversubscribed

February 27, 2024, 8:21 pm

MANILA – Appetite for the new 20-year Treasury bonds (T-bonds) was strong as it fetched bids three times higher than the PHP30-billion offer. The Bureau of the Treasury (BTr) on Tuesday fully awarded the PHP30-billion T-bonds. “The auction received strong demand, going more than three times… Read More

PEZA, US trade, commercial office vow to strengthen investment drive

PEZA, US trade, commercial office vow to strengthen investment drive

February 27, 2024, 8:16 pm

MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga welcomed United States Trade and Commercial Section officials to the PEZA Office for a briefing on the current state of US investments in Philippine economic zones. The US officials were led by Economic Counselor… Read More

PSEi continues to fall on profit-taking, peso ends sideways

PSEi continues to fall on profit-taking, peso ends sideways

February 27, 2024, 8:10 pm

MANILA – The local bourse declined for two consecutive days as investors continued to take profit, while the Philippine peso closed sideways Tuesday. The Philippine Stock Exchange index (PSEi) finished this day’s trading lower by 30.82 points at 6,860.67, with All Shares also closing lower by… Read More

Wearable exporters seek gov’t interventions to stop job shedding

Wearable exporters seek gov’t interventions to stop job shedding

February 27, 2024, 7:53 pm

MANILA – The Confederation of Wearable Exporters of the Philippines (Conwep) is seeking government interventions to arrest jobs shedding in the industry. In a virtual briefing Tuesday, Conwep executive director Maritess Jocson-Agoncillo said the industry group has written President Ferdinand R.… Read More

Dubai-based logistics firm eyes investments in PH

Dubai-based logistics firm eyes investments in PH

February 27, 2024, 5:17 pm

MANILA – Dubai-based logistics company DP World has expressed interest in putting up a logistics hub and an industrial park in the Philippines, the Department of Trade and Industry (DTI) said Tuesday. In a statement, the DTI said Secretary Alfredo Pascual met with DP World Group Senior Vice… Read More

PH to adopt new investment-related agreement in WTO

PH to adopt new investment-related agreement in WTO

February 27, 2024, 1:25 pm

MANILA – The Philippines is among the 123 World Trade Organization (WTO) members, or three-fourths of the membership, that will adopt the Investment Facilitation for Development (IFD) Agreement that was finalized on the sidelines of the 13th WTO Ministerial Meeting in Abu Dhabi from Feb. 26 to… Read More

PH backs advancement of sustainable trade at WTO meet

PH backs advancement of sustainable trade at WTO meet

February 26, 2024, 10:00 pm

MANILA – The Philippines supports the endorsement of the Coalition of Trade Ministers on Climate’s Framework on Voluntary Actions to address trade-related climate challenges at the World Trade Organization (WTO) 13th Ministerial Conference (MC13) in the United Arab Emirates. The Department of… Read More

DTI lauds signing of ‘Tatak Pinoy’ law, to bolster industrialization

DTI lauds signing of ‘Tatak Pinoy’ law, to bolster industrialization

February 26, 2024, 9:21 pm

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual reaffirmed the department’s commitment to boost its science, technology and innovation-driven industrialization agenda with the enactment of Republic Act (RA) 11982 or the Tatak Pinoy Act on Monday. In line with… Read More