Business

Recto inducts new EJAP officers

Recto inducts new EJAP officers

March 22, 2024, 4:20 pm

MANILA – Department of Finance (DOF) Secretary Ralph Recto led the induction of the new set of officers of the Economic Journalists Association of the Philippines (EJAP), the country’s premier organization of business reporters. In his keynote speech at the induction ceremony at the DOF Office… Read More

BSP: PESONet, Instapay services must be available even on holidays

BSP: PESONet, Instapay services must be available even on holidays

March 22, 2024, 4:15 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) on Friday reminded BSP-Supervised Financial Institutions (BSFIs) offering PESONet and InstaPay services to ensure the availability of customer services during holidays and non-working days consistent with BSP Memorandum M-2023-011. The BSP issued… Read More

Shares returns to 6,900 mark as peso strengthens

Shares returns to 6,900 mark as peso strengthens

March 21, 2024, 10:02 pm

MANILA – The local bourse and currency both improved on Thursday. The Philippine Stock Exchange index (PSEi) bounced back to the 6,900-level this day after gaining 47.27 points, or 0.69 percent, closing at 6,904.04. All Shares also improved by 9.65 points, or 0.27 percent, to 3,581.75 level. All… Read More

60-minute lights off for Earth Hour

60-minute lights off for Earth Hour

March 21, 2024, 8:35 pm

MANILA – Department of Energy (DOE) Secretary Raphael Lotilla has enjoined the public to turn off non-essential lights for 60 minutes during the Earth Hour on March 23 from 8:30 p.m. to 9:30 p.m. The underlying mission of such act, no matter how small it is, and the call for cooperation will… Read More

Gov't signs PPP Code IRR

Gov't signs PPP Code IRR

March 21, 2024, 6:17 pm

MANILA – Government officials on Thursday signed the implementing rules and regulations (IRR) of the Public-Private Partnership (PPP) Code. The IRR was signed by National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan, PPP Center Executive Director Cynthia Hernandez,… Read More

RE investments hike Aboitiz Group’s capex to PHP153-B

RE investments hike Aboitiz Group’s capex to PHP153-B

March 21, 2024, 6:02 pm

MANILA – The Aboitiz Group is investing big in renewable energy (RE) projects this year, hiking the company’s capital expenditure (capex) to PHP153 billion, or more than double last year’s PHP65 billion. The Aboitiz Group confirmed Thursday earlier reports that it earmarked PHP153 billion as… Read More

PH, Czech Republic eye agri, water management cooperation deal

PH, Czech Republic eye agri, water management cooperation deal

March 21, 2024, 6:00 pm

MANILA – Visiting Czech Republic Agriculture Minister Marek Výborný said his office and the Department of Agriculture (DA) are targeting to have a cooperation deal in the areas of agriculture, water management and forestry. Výborný’s visit to Manila follows the state visit of President… Read More

DTI: Higher senior, PWD discount on basic goods order starts March 25

DTI: Higher senior, PWD discount on basic goods order starts March 25

March 21, 2024, 5:20 pm

MANILA — The Department of Trade and Industry (DTI) targets to publish on Monday the new joint administrative order (JAO) on higher discount on basic necessities and prime commodities (BNPCs) for senior citizens and persons with disabilities (PWDs). In a press conference in Makati City Thursday,… Read More

Recto: PH records budget surplus in Jan-Feb 2024

Recto: PH records budget surplus in Jan-Feb 2024

March 20, 2024, 10:00 pm

MANILA – Department of Finance (DOF) Secretary Ralph Recto said preliminary data showed that the national government has posted a budget surplus in the first two months of the year. "As of today, for the last two months and a half, our revenues are 20 percent up year-on-year (YOY) while spending… Read More

New energy think tank launched

New energy think tank launched

March 20, 2024, 7:57 pm

MANILA – The Center for Energy Research and Policy (CERP) was launched on Wednesday as a new think tank that aims to craft policy recommendations for the country’s energy sector. The CERP is spearheaded by lawyer Noel Baga, who worked as executive assistant at the Department of Energy (DOE)… Read More

PSEi takes cues from US markets, peso depreciated

PSEi takes cues from US markets, peso depreciated

March 20, 2024, 7:55 pm

MANILA – Philippine shares improved on Wednesday, reflecting United States’ markets, while the local currency dropped for the second trading day. The Philippine Stock Exchange index (PSEi) gained 0.12 percent, closing at 6,856.77, while All Shares increased by 0.16 percent to 3,572.10.… Read More

Next round of EU-PH FTA eyed in Q3 2024

Next round of EU-PH FTA eyed in Q3 2024

March 20, 2024, 4:17 pm

MANILA – After the announcement of the Philippines and the European Union (EU) to resume negotiations for a bilateral free trade agreement, a senior government official said on Wednesday they are eyeing to resume the formal discussions by the third quarter of 2024. “We are targeting third… Read More

First BOI-registered shipyard in Leyte to fully operate mid-2024

First BOI-registered shipyard in Leyte to fully operate mid-2024

March 20, 2024, 4:11 pm

MANILA – The Board of Investments (BOI) said Wednesday that the full operations of IMP Shipyard and Port Services, Inc. in Albuera, Leyte will start in the middle of this year. IMP is the first BOI-registered shipyard project in Leyte, which qualifies for the Tier I of the Strategic Investment… Read More

Taiwan pushes for more renewable energy investments

Taiwan pushes for more renewable energy investments

March 20, 2024, 1:02 pm

TAIPEI, Taiwan – Taiwan is encouraging cities worldwide to be proactive in promoting renewable energy investments to address the impact of climate change. This comes as the island’s government implements policies to reduce greenhouse gas emissions and transition towards environmentally… Read More

PH posts $196-M deficit in February

PH posts $196-M deficit in February

March 20, 2024, 11:20 am Updated on March 20, 2024, 11:21 am

MANILA – The country's overall balance of payments (BOP) position posted a deficit of USD196 million in February. In a report released late Tuesday, the Bangko Sentral ng Pilipinas (BSP) said the deficit last month was lower than the USD895 million deficit recorded in February last year. "The… Read More

LEDAC calls for urgent passage of learning recovery bill

LEDAC calls for urgent passage of learning recovery bill

March 19, 2024, 8:07 pm

MANILA – The Legislative-Executive Development Advisory Council (LEDAC) has called for the passage of the Academic Recovery and Accessible Learning (ARAL) Program Act by June this year. In a statement on Tuesday, the National Economic and Development Authority (NEDA) said the proposed bill,… Read More

El Niño rushes shutdown of hydroelectric plants in Nueva Ecija

El Niño rushes shutdown of hydroelectric plants in Nueva Ecija

March 19, 2024, 7:46 pm

PANTABANGAN, Nueva Ecija – The impacts of the El Niño phenomenon could now be seen in the power sector as the suspension of hydroelectric power plants in Nueva Ecija could come in earlier than expected. The National Irrigation Administration (NIA) has forecast that the Pantabangan Reservoir… Read More

PSEi, peso shed on Tuesday

PSEi, peso shed on Tuesday

March 19, 2024, 6:45 pm

MANILA – Both the local shares and currency closed weaker on Tuesday. The Philippine Stock Exchange index (PSEi) shed 0.07 percent, closing at 6,848.43, while All Shares also declined by 0.12 percent to 3,566.48. Only Property and Financials recorded gains at 1.73 percent and 0.21 percent,… Read More

Blinken says CHIPS Act to bolster PH-US ties in semiconductor

Blinken says CHIPS Act to bolster PH-US ties in semiconductor

March 19, 2024, 5:58 pm

MANILA — Visiting United States Department of State Secretary Antony Blinken said the "Creating Helpful Incentives to Produce Semiconductors" or CHIPS and Science Act will fortify the already strong ties between the Philippines and the US in thevsemiconductor industry. Blinken made the statement… Read More

BTr fully awards reissued T-bonds

BTr fully awards reissued T-bonds

March 19, 2024, 4:45 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the reissued 20-year Treasury bonds (T-bonds). The reissued T-bonds fetched an average rate of 6.189 percent, lower than the 6.250 percent coupon set upon the original issuance and the prevailing secondary market benchmark. The… Read More