Business
PH raises $1B from Sukuk bond sale
November 30, 2023, 6:50 pm
MANILA – The Philippine government on Thursday successfully raised USD1 billion from the sale of its maiden Sukuk bonds or Islamic bonds. "The maiden issue was met with strong demand, with the order book’s oversubscription peaking at 4.90 [times]," said the Bureau of the Treasury (BTr) in a… Read More
Meralco opens bid for 1,200 MW power supply
November 30, 2023, 5:35 pm
MANILA – The Manila Electric Company (Meralco) announced on Thursday that it opened the bidding for 1,200 megawatts (MW) baseload requirement through a 15-year Power Supply Agreement/s (PSA/s). Earlier, the Department of Energy (DOE) issued a Certificate of Conformity on the Terms of Reference… Read More
Taxpayers can now avail of digital TIN ID
November 30, 2023, 2:11 pm
MANILA – The Bureau of Internal Revenue (BIR) said taxpayers will no longer need to line up in Revenue District Offices to get their Tax Identification Number (TIN) ID. In a statement on Thursday, BIR Commissioner Romeo Lumagui Jr. said Memorandum Circular 120-123 issued on Nov. 29, mandates the… Read More
BTr fully awards reissued Treasury bonds
November 29, 2023, 6:48 pm
MANILA – The Bureau of the Treasury (BTr) on Wednesday fully awarded the reissued seven-year Treasury bonds (T-bonds). With a remaining term of five years and 10 months, the reissued bond fetched an average rate of 6.099 percent – lower than when it was last reissued in August as well as the… Read More
Stocks down on profit-taking, peso up slightly
November 29, 2023, 6:45 pm
MANILA – The local stock market ended the day in the negative territory while the peso closed slightly higher against the dollar on Wednesday. The Philippine Stock Exchange index (PSEi) declined by 44.43 points to close at 6,265.14, while the broader All Shares also went down by 19.02 points to… Read More
S&P affirms PH's credit rating, cites sustained economic recovery
November 29, 2023, 5:37 pm
MANILA – United States-based S&P Global Ratings on Wednesday affirmed the Philippines' ‘BBB+’ long-term and ‘A-2’ short-term sovereign credit ratings, citing the country's sustained economic recovery due to the government’s ongoing efforts to address infrastructure gaps and… Read More
Budget deficit down to P34B in October
November 29, 2023, 3:17 pm
MANILA – The national government's budget deficit declined by 65.2 percent in October this year due to higher revenue collections, the Bureau of the Treasury (BTr) said Wednesday. The government incurs a budget deficit when spending exceeds its revenues. "The National Government’s fiscal… Read More
Investment forum generates over P1-B in pledges for Iloilo City
November 28, 2023, 8:31 pm
ILOILO CITY – This city has received over PHP1 billion worth of committed investments from the recent business forum coordinated by the Iloilo Economic Development Foundation (ILEDF), in partnership with the Metro Iloilo-Guimaras Economic Development Council (MIGEDC). Mayor Jerry Treñas said… Read More
Stocks up on lower oil prices, peso nearly flat
November 28, 2023, 7:26 pm
MANILA – The Philippine Stock Exchange index (PSEi) rallied on Tuesday backed by lower oil prices, but the peso closed almost unchanged against the United States dollar. "The local bourse gained by 40.07 points (0.64 percent) to 6,309.57 thanks to the easing of oil prices amid the temporary… Read More
BTr fully awards Treasury bills
November 28, 2023, 4:55 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 4.753 percent, 5.181 percent, and 5.727 percent, respectively – all significantly lower than previous auction and prevailing… Read More
Construction industry to support economic growth - DTI
November 28, 2023, 4:48 pm
MANILA – The Department of Trade and Industry (DTI) is optimistic that the country's construction industry will continue to grow, driven by the government's infrastructure program. DTI Assistant Secretary and Construction Industry Authority of the Philippines (CIAP) alternate chairperson Agaton… Read More
Mimaropa minimum wage earners soon to live above poverty threshold
November 28, 2023, 4:40 pm
CALAPAN CITY, Oriental Mindoro – All private sector employees in this region are expected to live above the accepted poverty threshold after a PHP40 per day wage hike takes effect on Dec. 7. In an interview on Tuesday, Naomi Lyn Abellana, regional director of the Department of Labor and… Read More
Batangas eyes tourism, other sectors for dev’t to boost economy
November 27, 2023, 8:42 pm
BATANGAS CITY – The provincial government of Batangas has identified several key industries which, if properly cultivated and developed, have the potential to propel the local economy to unprecedented heights. In an interview on Monday, Governor Hermilando Mandanas said his administration will… Read More
Diesel, kerosene prices up Nov. 28; gasoline unchanged
November 27, 2023, 3:27 pm Updated on November 27, 2023, 6:03 pm
MANILA – After several weeks of rollbacks, pump prices of petroleum products will increase effective Tuesday. In separate advisories, Seaoil Philippines Inc., Caltex Philippines, Pilipinas Shell Petroleum Corp. and Petron Corp. said they will increase diesel prices by PHP0.30 per liter and… Read More
AMRO: PH to sustain growth momentum
November 27, 2023, 2:08 pm
MANILA – Philippine economic growth is expected to remain robust amid high inflation and weaker external demand, according to the ASEAN+3 Macroeconomic Research Office (AMRO). "The Philippine economy maintained its robust growth momentum in the first three quarters of 2023, following a… Read More
PH to offer maiden Sukuk bonds
November 27, 2023, 12:33 pm
MANILA – The Philippine government on Monday announced the sale of its maiden Islamic bonds or Sukuk bonds. In an announcement, the Bureau of the Treasury (BTr) said it is planning the issuance of a benchmark-sized US dollar-denominated Sukuk bonds offering, which will have a 5.5-year tenure. It… Read More
NEDA prefers solicited bids for MRT-3, LRT-2 operations, maintenance
November 26, 2023, 11:00 pm
MANILA – The National Economic and Development Authority (NEDA) prefers to get solicited bids for the operations and maintenance (O&M) of the Metro Rail Transit Line 3 (MRT-3) and Light Rail Transit Line 2 (LRT-2), Secretary Arsenio Balisacan said. Balisacan said solicited proposals have better… Read More
PEZA eyes Palawan as site of first PH mega ecozone
November 26, 2023, 6:59 pm
MANILA – The Philippine Economic Zone Authority (PEZA) is eyeing to build the country’s first mega economic zone that will be located in Puerto Princesa City, Palawan with a land development of around 26,000 hectares, Director General Tereso Panga said. Panga said mega ecozones are the… Read More
PH hits $1-B mark sales in China buying expo
November 26, 2023, 3:48 pm
MANILA – The Philippines has surpassed its target sales in this year’s China International Import Expo (CIIE) with sales amounting to USD1.1 billion, the Center for International Trade Expositions and Missions (CITEM) reported over the weekend. The total sales in the 6th CIIE exceeded the… Read More
DMCI eyes opening of 2 new mining sites in H1 2024
November 26, 2023, 1:03 pm
MANILA – DMCI Mining Corp. is optimistic that its two new mine sites will start operations by the first half of 2024 and create additional employment in host areas. DMCI Mining president Tulsi Das Reyes said the first mining site, located in its existing site in Zambales, will be operational… Read More
