Business
Recto urges Congress to partner with DOF in passing crucial reforms
January 18, 2024, 5:34 pm
MANILA – Finance Secretary Ralph Recto on Thursday urged Congress to partner with the Department of Finance for the swift passage of reforms needed to reduce the country's deficit and debt levels. “You already know the drill. None of these crucial measures will come to fruition without your… Read More
Rosy outlook for travel agencies as Filipinos go on more trips
January 18, 2024, 5:15 pm
MANILA – The Philippine Travel Agencies Association (PTAA) sees up to a 25-percent growth in travel bookings this year, supported by the strong appetite among Filipinos to go on trips both domestic and foreign destinations. In a press conference in Makati City Thursday, PTAA’s Travel Tour Expo… Read More
Managing inflation backs PH economic expansion in 2024
January 18, 2024, 5:15 pm
MANILA – The ASEAN+3 Macroeconomic Research Office (AMRO) has projected that the Philippines will emerge as the fastest growing economy in the region, especially if the government manages the country’s inflation well. The AMRO reported Thursday that its gross domestic product (GDP) growth… Read More
Gov’t sticks to 6.5-7.5% GDP growth target for 2024
January 17, 2024, 7:49 pm
MANILA – The government is sticking to its gross domestic product (GDP) target of 6.5 to 7.5 percent for 2024 despite many organizations forecasting the economic expansion this year will miss the administration’s goal. National Economic and Development Authority (NEDA) Undersecretary Rosemarie… Read More
DTI implements gradual adjustments on SRP bulletin
January 17, 2024, 6:35 pm
MANILA – The Department of Trade and Industry (DTI) will be adjusting suggested retail prices (SRPs) of select items by phase to assist consumers in absorbing price increases of basic goods. In an interview with Bagong Pilipinas Ngayon on Wednesday, DTI Assistant Secretary Amanda Nograles said… Read More
BIR hikes VAT exemption in sale of residential properties
January 17, 2024, 5:35 pm
MANILA – The Bureau of Internal Revenue (BIR) has increased the threshold for value-added tax (VAT) exemption for the sale of house and lot as well as other residential dwellings from nearly PHP3.2 million to PHP3.6 million. This, as BIR Commissioner Romeo Lumagui Jr. has issued Revenue… Read More
DOE: Non-moving RE projects open opportunities for foreign investors
January 17, 2024, 4:08 pm
MANILA – Department of Energy (DOE) Undersecretary Rowena Cristina Guevara said Wednesday the renewable energy (RE) projects that already secured service contracts (SCs) but do not progress have opened investment opportunities for foreign companies, especially from Europe. “There is a large… Read More
Landbank online fund transfers for P1K below remain free
January 17, 2024, 3:21 pm
MANILA – In line with providing safe, convenient, and accessible digital banking services, the Land Bank of the Philippines (Landbank) continues to waive fees for fund transfers to other banks via InstaPay and PESONet for transactions worth PHP1,000 and below. Landbank customers can enjoy free… Read More
PH vehicle sales breach 2023 target
January 17, 2024, 10:47 am
MANILA – Sales of local vehicle assemblers in 2023 reached 429,807 units last year, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) said on Wednesday. This surpassed the target sales of 423,000 units for 2023, according to the… Read More
Profit-taking slashes local shares, peso on sideways
January 16, 2024, 10:02 pm
MANILA – The local bourse’s main index declined on profit-taking while the peso closed sideways during Tuesday's trading. The Philippine Stock Exchange index (PSEi) finished in the red, shedding 43.45 points to 6,637.00, with All Shares down by 17.54 points to 3,506.23 level. Philstocks… Read More
PH 1st innovation hub to provide better building solutions
January 16, 2024, 8:40 pm
DAVAO CITY – To provide better building solutions, Holcim Philippines opened here on Tuesday its first innovation hub facility in the country. In a press briefing, Holcim Philippines president and chief operating officer Horia Adrian said the hub showcases sustainable building solutions and… Read More
IPOPHL targets up to 10% growth in IP filings in 2024
January 16, 2024, 7:28 pm
MANILA – Intellectual Property Office of the Philippines (IPOPHL) Director General Rowel Barba is targeting a 5 to 10 percent increase in Intellectual property (IP) filings this year. In an interview with Bagong Pilipinas Ngayon on Tuesday, Barba said he is optimistic that the number of IP… Read More
CAB lowers fuel surcharge for February
January 16, 2024, 7:07 pm
MANILA – Fuel surcharge applicable for the entire February has been lowered from Level 6 to Level 5. Under Level 5, the fuel surcharge for domestic flights could range from PHP151 to PHP542, and from PHP498.03 to PHP3,703.11 for international flights, depending on the distance. In an advisory… Read More
Ransomware attacks in PH double in 2023
January 16, 2024, 6:55 pm
MANILA – A commissioned survey by a cybersecurity firm has found that ransomware incidents in the Philippines became more rampant and aggressive in 2023. Fortinet Marketing and Communications for Asia and Australia and New Zealand vice president Rashish Pandey said in a media briefing in Makati… Read More
3 logistics firms eye PH as Asian hub; investing over $1B in Clark
January 16, 2024, 5:30 pm
MANILA – Three logistics companies are eyeing to make the Philippines as their regional hub in Asia by putting up their facilities at the Clark Freeport and Special Economic Zone, Bases Conversion and Development Authority (BCDA) president and chief executive officer Joshua Bingcang said. In an… Read More
BTr fully awards T-bonds
January 16, 2024, 5:10 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the new seven-year Treasury bonds (T-bonds) at Tuesday's auction, setting the coupon rate at 6.125 percent. The auction received strong demand, going 3.6 times oversubscribed, as total submitted bids amounted to PHP107.1 billion. The BTr… Read More
Top-level American trade mission to spur more investments in PH
January 15, 2024, 8:27 pm
MANILA – The Department of Foreign Affairs (DFA) said Monday that the Presidential Trade and Investment Mission (PITM) from the United States is a follow-through on an earlier commitment by US President Joe Biden to President Ferdinand R. Marcos Jr. during the latter’s official visit to… Read More
Better outlook for 2024 boosts PH shares, peso
January 15, 2024, 8:26 pm
MANILA – The local stock barometer and the peso closed stronger at the beginning of this week's trading. The Philippine Stock Exchange index (PSEi) jumped 37.27 points to 6,680.45, with All Shares also increasing by 17.16 points to 3,523.77 on Monday. "Philippine shares continued to be bought up… Read More
11-month remittances rise to $33.6B
January 15, 2024, 7:43 pm
MANILA – Personal remittances of overseas Filipinos (OFs) from January to November 2023 climbed to USD33.6 billion, almost 3 percent higher than the USD32.6 billion in the same period in 2022, the Bangko Sentral ng Pilipinas (BSP) said Monday. In November last year alone, OF remittances… Read More
Oil prices up for 2 straight weeks
January 15, 2024, 5:20 pm
MANILA – For the second consecutive week, oil prices will increase on Tuesday morning. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell, and Unioil announced an increase in diesel by PHP0.90 per liter and PHP0.30 per liter for gasoline. Caltex, Seaoil, and Shell will,… Read More
