Business

US exec: Nuke deal with PH to ‘stand multiple US administrations’

US exec: Nuke deal with PH to ‘stand multiple US administrations’

July 18, 2024, 6:29 pm

MANILA – A visiting official of the United States has assured the Philippines that the 123 Agreement, or the civil nuclear cooperation deal, could stand different administrations, especially with the US presidential elections in November. US Nuclear Regulatory Commission chair Christopher Hanson… Read More

Luzon grid under yellow alert anew

Luzon grid under yellow alert anew

July 18, 2024, 9:56 am

MANILA – For two straight days, the Luzon grid has been placed under yellow alert anew following the derated capacity of SMC Consolidated Power Corp. (SCPC) Units 1 to 4. The National Grid Corporation of the Philippines (NGCP) announced Thursday that the Luzon grid is under yellow alert from 1… Read More

Young Pinoys urged to take electronics industry-related courses

Young Pinoys urged to take electronics industry-related courses

July 17, 2024, 8:44 pm

MANILA – Amid the declining number of enrollees in certain engineering courses, stakeholders in the semiconductor and electronics industry have urged young Filipinos to explore career opportunities in this sector. In a press briefing in Makati City Wednesday, Department of Trade and Industry… Read More

PSEi, peso up on strong PH economic growth projections

PSEi, peso up on strong PH economic growth projections

July 17, 2024, 8:31 pm

MANILA – The local bourse strengthened on Wednesday amid strong Philippine economic growth projections and anticipated rate cut by the Federal Reserve, while the peso also closed stronger against the dollar. The Philippine Stock Exchange index (PSEi) rose 20.62 points to 6,687.71, while the… Read More

PH renewables get boosts from new 64-MW Cavite solar plant

PH renewables get boosts from new 64-MW Cavite solar plant

July 17, 2024, 8:27 pm

MANILA – The country's supply of renewable energy (RE) continues to increase as Prime Infra's unit, Prime Solar Solutions Corp., inaugurated its 64-megawatt solar power plant in Maragondon, Cavite on Wednesday.  The new solar plant is part of Prime Solar's 128-MW pilot project, which includes… Read More

PH economy grows by 6.1% on average during PBBM's term

PH economy grows by 6.1% on average during PBBM's term

July 17, 2024, 7:05 pm

MANILA – The Philippine economy has so far grown by more than 6 percent since President Ferdinand R. Marcos Jr. took office in 2022. Economic managers earlier said Philippine economic growth from the third quarter of 2022 to the first quarter of 2024 hit an average of 6.1 percent. For the first… Read More

PEZA optimistic to hit up to P250-B investment approvals in '24

PEZA optimistic to hit up to P250-B investment approvals in '24

July 17, 2024, 6:15 pm

MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga remains confident in meeting the investment approvals of PHP200 billion to PHP250 billion by year-end. Panga's optimism is bolstered by projections of robust gross domestic product (GDP) growth and promising… Read More

BSP OKs new guidelines, penalty provisions for FX transactions

BSP OKs new guidelines, penalty provisions for FX transactions

July 17, 2024, 4:55 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) said the Monetary Board has approved further amendments to foreign exchange (FX) regulations. The amendments were detailed in BSP's Memorandum Circular 1197 issued on July 12 this year. The BSP said the major amendments include the revised monetary… Read More

BIR, SEC sign deal on data-sharing

BIR, SEC sign deal on data-sharing

July 17, 2024, 4:35 pm

MANILA – The Securities and Exchange Commission and the Bureau of Internal Revenue on Wednesday signed an agreement allowing the BIR to access the data-sharing system established by the SEC. The memorandum of agreement signed at the SEC headquarters in Makati City allows the BIR to be the first… Read More

Luzon under yellow alert for 6 hrs. on July 17

Luzon under yellow alert for 6 hrs. on July 17

July 17, 2024, 2:35 pm

MANILA – The National Grid Corporation of the Philippines (NGCP) placed the Luzon grid under yellow alert on Wednesday, attributing the thinner power supply to the tripping of the 417.4-megawatt San Gabriel power plant. In an advisory, the NGCP said the yellow alert in the Luzon grid will be… Read More

New transmission lines to improve Bohol's power situation

New transmission lines to improve Bohol's power situation

July 17, 2024, 1:59 pm

MANILA – The province of Bohol can expect a better power situation as the National Grid Corporation of the Philippines (NGCP) targets to complete the Cebu-Bohol 230 kilovolt (kV) line this December. On Tuesday, the NGCP energized the Dumanjug-Corella 230 kV Line 1 and Dumanjug 70 megavolt… Read More

Local index falls on profit-taking; peso improves

Local index falls on profit-taking; peso improves

July 16, 2024, 7:47 pm

MANILA – The Philippine Stock Exchange index (PSEi) declined Tuesday on profit-taking, while the local currency improved its performance. The PSEi closed the day lower by 0.33 percent at 6,667.09, with All Shares also shedding by 0.23 percent down to 3,585.93. “Local shares succumbed to profit… Read More

PH, foreign chambers urge PBBM to prioritize 21 pending bills

PH, foreign chambers urge PBBM to prioritize 21 pending bills

July 16, 2024, 7:38 pm

MANILA – The Philippine Business Group (PBG) and Joint Foreign Chambers (JFC) have called on President Ferdinand R. Marcos Jr. to prioritize 21 pending legislative measures that will push for economic reforms. Ahead of President Marcos' State of the Nation Address (SONA), the PBG-JFC said these… Read More

BTr fully awards Treasury bonds

BTr fully awards Treasury bonds

July 16, 2024, 7:07 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday said the 10-year Treasury Bond (T-bonds) reissuance saw strong demand, prompting the Auction Committee to fully award the security. With a remaining term of nine years and six months, the T-bond fetched an average rate of 6.212 percent, lower… Read More

Consing: Maharlika seen to boost economic growth, reduce poverty

Consing: Maharlika seen to boost economic growth, reduce poverty

July 16, 2024, 7:04 pm Updated on July 17, 2024, 10:40 am

MANILA – The Maharlika Investment Fund (MIF) will help boost the country's economic growth by reducing poverty and creating more jobs. Maharlika Investment Corporation (MIC) president and chief executive officer Rafael Consing said the MIF aims to help support and sustain the country's high… Read More

NEDA Board OKs changes in Laguna Lakeshore road project

NEDA Board OKs changes in Laguna Lakeshore road project

July 16, 2024, 6:36 pm

MANILA – The National Economic and Development Authority (NEDA) Board chaired by President Ferdinand R. Marcos Jr. recently approved key changes to the Laguna Lakeshore Road Network (LLRN) Project and also set terms for the Bohol and Laguindingan airports. In a statement on Tuesday, the NEDA… Read More

DTI seizes nearly P90-M of uncertified goods, vape units

DTI seizes nearly P90-M of uncertified goods, vape units

July 16, 2024, 4:00 pm

MANILA – The Department of Trade and Industry’s (DTI) Task Force Kalasag has confiscated a total of PHP89.76 million worth of uncertified and non-compliant products and vape units as of July 15. In a press conference in Makati City Tuesday, Fair Trade Enforcement Bureau (FTEB) Director Fhilip… Read More

PH likely to post one of strongest growths in ASEAN

PH likely to post one of strongest growths in ASEAN

July 16, 2024, 3:55 pm

MANILA – The Philippine economy is projected to grow by over 6 percent in 2024 and 2025, making the country the second fastest-growing economy in the region. In its latest quarterly update of the ASEAN+3 Regional Economic Outlook (AREO) released on Tuesday, the ASEAN+3 Macroeconomic Research… Read More

BIR: Online sellers now subjected to withholding tax

BIR: Online sellers now subjected to withholding tax

July 16, 2024, 12:40 pm

MANILA – The Bureau of Internal Revenue (BIR) on Tuesday said electronic marketplace operators are now imposing withholding tax on sellers or merchants. "Electronic marketplace operators will begin imposing withholding tax against their sellers/merchants starting July 15, 2024. We have already… Read More

DTI chief says 'Tatak Pinoy' crucial in PBBM’s industrial policy

DTI chief says 'Tatak Pinoy' crucial in PBBM’s industrial policy

July 15, 2024, 8:43 pm

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the “Tatak Pinoy” initiative is a cornerstone of the government’s industrialization strategy. During a forum at Philippine International Convention Center in Pasay City on Monday, Pascual emphasized the role of… Read More