Business
BOI reaches almost 50% of 2023 pledges in 2024 Q1
April 21, 2024, 6:35 pm
MANILA — The Board of Investments (BOI) registered PHP607.22 billion worth of projects from January to April 17 this year. BOI Director Sandra Marie Recolizado said it is almost half of the registered projects for the full year of 2023, valued at PHP1.26 trillion. She told the media on Friday… Read More
PH to host Indo-Pacific biz forum in May
April 21, 2024, 3:34 pm
MANILA – The Philippines will co-host the 6th Indo-Pacific Business Forum (IPBF), the United States government’s premier commercial event in the region, the Department of Trade and Industry (DTI) said. In a document shared by DTI recently, the IPBF on May 21 will gather 500 participants… Read More
Eggs smaller but cheaper, plentiful, poultry raisers say
April 20, 2024, 6:33 pm
BARAS, Rizal – The Philippine Egg Board (PEB) assured that the apparent shrinking sizes of eggs will not contribute to food inflation as prices have always varied according to their sizes. In an interview on Saturday, PEB chair Gregorio San Diego explained that eggs have always been classified… Read More
Stock market, peso close week with losses
April 19, 2024, 6:44 pm
MANILA – The negative sentiment of investors amid the heightened geopolitical tension in the Middle East pulled down both the local stock market and the currency on Friday. "The local bourse dropped by 80.19 points (1.23 percent) to 6,443.00 as tensions in the Middle East heightened following… Read More
PH posts $1.2-B balance of payments surplus in March
April 19, 2024, 5:30 pm
MANILA – The Philippines posted a USD1.2-billion balance of payments (BOP) surplus in March this year, the Bangko Sentral ng Pilipinas (BSP) said on Friday. Data showed that the BOP surplus last month was slightly lower than the USD1.3 billion surplus recorded in March last year. "The BOP… Read More
Visayas grid also placed under red alert
April 19, 2024, 5:29 pm Updated on April 19, 2024, 6:11 pm
MANILA – The National Grid Corporation of the Philippines (NGCP) placed the Visayas grid under red alert status on Friday afternoon as more plants went on unplanned outage. From 15 power plants on shutdown early Friday, the NGCP in its updated advisory this afternoon said 18 power plants are now… Read More
Apple keen to invest in AI development in new capital: Minister
April 19, 2024, 2:42 pm
JAKARTA – Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Padjaitan revealed that Apple is interested in investing in the development of artificial intelligence (AI) in Indonesia’s new capital city Nusantara. Pandjaitan, in his Instagram post at luhut.pandjaitan,… Read More
World Bank to support PH's infra program, tax collection efforts
April 19, 2024, 2:33 pm
MANILA – The World Bank has committed to provide support to the Philippine government's infrastructure program and efforts to improve tax collection, the Department of Finance (DOF) said on Friday. In a social media post, the Finance department said Finance Secretary Ralph Recto engaged with… Read More
Longer red alert in Luzon grid on Friday
April 19, 2024, 12:57 pm
MANILA – There will be a longer period of red alert status for the Luzon grid on Friday, the fourth straight day that the National Grid Corporation of the Philippines (NGCP) issued an alert status due to tight power supply. The NGCP placed the Luzon grid anew in red alert on Apr. 19 from 3 to 4… Read More
Local index improves on bargain hunting, peso on sideways
April 18, 2024, 8:34 pm
MANILA – The local index has improved for two days in a row, with gains on Thursday lifting the bourse to 6,500-level, while the peso closed sideways. The benchmark Philippine Stock Exchange index (PSEi) increased by 1.13 percent to 6,523.19, while the broader All Shares grew by 0.77 percent to… Read More
Maharlika Investment Corp. releases new logo
April 18, 2024, 7:30 pm
MANILA – The Maharlika Investment Corp. (MIC) on Thursday unveiled its new logo inspired by the Philippine Eagle. In a statement, the MIC said the new logo embodies the strength, focus, and enduring power necessary to elevate the country. It said the design reflects the sovereign wealth fund's… Read More
PGH's Cancer Center Project's revised cost up for NEDA Board approval
April 18, 2024, 6:25 pm
MANILA – Changes to the project cost, revised parameters, and terms and conditions of the Cancer Center Project of the University of the Philippines-Philippine General Hospital (UP-PGH) Manila will be up for the National Economic and Development Authority (NEDA) Board's approval on April 25.… Read More
Japan’s Nitori opens 1st PH store after investment pledge to PBBM
April 18, 2024, 5:55 pm
MANILA – Another investment commitment to President Ferdinand R. Marcos Jr. during his official foreign trip was realized after Japanese furniture and home accessories retail company Nitori Co., Ltd opened its first store in the country on Thursday. Department of Trade and Industry (DTI)… Read More
NEDA: PH implementing reforms to improve business climate
April 18, 2024, 3:48 pm
MANILA – The National Economic and Development Authority (NEDA) said on Thursday, Secretary Arsenio Balisacan has urged businesses in the United States to invest in the Philippines, noting that the government has implemented several reforms to improve the country's investment climate. During the… Read More
DTI, Jollibee partner to train MSMEs
April 18, 2024, 3:47 pm
MANILA – The Department of Trade and Industry (DTI) has partnered with Jollibee Foods Corporation (JFC) and Jollibee Group Foundation (JGF) to develop Filipino micro, small, and medium enterprises (MSMEs). In a statement Thursday, the DTI said this partnership came into force with the signing of… Read More
Recto presides over G-24 Ministerial Meeting
April 18, 2024, 12:25 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto presided over the Intergovernmental Group of Twenty-Four (G-24) on April 16 as Chair of the Board of Governors where he called upon the international financial institutions to ramp up support for developing countries. In a statement on… Read More
NGCP: Red, yellow alert up in Luzon, Visayas grids
April 18, 2024, 10:19 am
MANILA – The Luzon and Visayas grids were placed under alert status for the third consecutive day on Thursday, due to thin power supply. The National Grid Corporation of the Philippines (NGCP) put the Luzon grid under red alert status from 3 to 4 p.m. and 8 to 10 p.m. Yellow alert status in the… Read More
Bargain hunting snaps PSEi 9-day losing streak; peso weakens
April 17, 2024, 7:01 pm
MANILA – The local bourse snapped its nine-day losing streak on bargain hunting and higher gross domestic product (GDP) growth forecast for the Philippines this year, while the peso continued to trade at the 57-level. The Philippine Stock Exchange index (PSEi) gained 45.07 points, or 0.70… Read More
Mimaropa posts moderately higher inflation in March
April 17, 2024, 5:55 pm
MANILA – Headline inflation in the Mimaropa region was moderately higher in March compared to the previous month, due mainly to an uptick in the food and non-alcoholic beverages segment, according to the Philippine Statistics Authority (PSA). In a media release on Wednesday, PSA-Mimaropa… Read More
Meralco exceeds 2023 peak demand on April 15
April 17, 2024, 5:13 pm
MANILA – Peak demand for electricity is usually expected in the second week of May, but the maximum electricity demand in 2023 was already surpassed last Monday, an executive from Manila Electric Company (Meralco) said. In a briefing in its headquarters in Pasig City on Wednesday, Meralco head… Read More
