Business
Jollibee Group eyes to ramp up franchising in US
April 4, 2024, 2:44 pm
MANILA – Jollibee Foods Corp. (JFC) aims to ramp up franchising activity to grow its presence in North America, its chief finance officer Richard Shin said in a virtual briefing Thursday. Shin said JFC’s expansion in the United States is focused on the top 30 cities for fried chicken.… Read More
Banks' non-performing loan ratio at 3.44% in February
April 4, 2024, 1:39 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said the proportion of non-performing loans (NPLs) of Philippine banks to their total loans settled reached 3.44 percent as of February this year. BSP data released late Wednesday showed that the ratio during the month was the same as the NPL ratio… Read More
OPEC+ keeps current output policy unchanged
April 4, 2024, 1:23 pm
VIENNA – Participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries and its allies, OPEC+, agreed to keep current oil production levels unchanged. During the meeting, which took place via videoconference today,… Read More
Biz groups open to 'heat breaks' for select employees
April 3, 2024, 9:16 pm
MANILA – Leaders of the country’s top business organizations have expressed openness to a lawmaker’s proposal that employees be given special or unscheduled breaks from work during times of severe heat, but said employers should be given a free hand on its implementation. In an interview on… Read More
PAL chief hopes new NAIA operator to prioritize interconnectivity
April 3, 2024, 5:57 pm
MANILA – The head of flag carrier Philippine Airlines (PAL) is hoping that the soon-to-be new operator of the Ninoy Aquino International Airport (NAIA) would prioritize interconnectivity and digitalization. "Like in airports of other countries, interconnectivity really helps. For us in PAL, we… Read More
PSEi, peso lose on mid-week trading trailing regional peers
April 3, 2024, 5:20 pm
MANILA – The local index dropped on the mid-week trading, trailing behind regional peers, even as the peso closed weak. The benchmark Philippine Stock Exchange index (PSEi) fell below the 6,900-mark closing at 6,863.82, down by 96.61 points (1.39 percent). The broader All Shares also shed 37.33… Read More
Maharlika Consortium to power 8 underserved areas
April 3, 2024, 5:13 pm
MANILA – The Department of Energy (DOE) announced on Wednesday that it had awarded the microgrid system service contract (MSC) to Maharlika Consortium to provide power to eight underserved areas in the provinces of Cebu, Quezon, and Palawan. The DOE awarded the contract to Maharlika Consortium… Read More
DOE, DOST partner for renewables research, dev't
April 3, 2024, 5:13 pm
MANILA – The Department of Energy (DOE) and the Department of Science and Technology (DOST) are partnering for research and development (R&D) in the renewables sector using the Renewable Energy Trust Fund (RETF). This, as DOE Secretary Raphael Lotilla and DOST Secretary Renato Solidum Jr. led… Read More
World Bank: Streamlining VAT exemptions can raise tax collections
April 3, 2024, 3:09 pm
MANILA – The World Bank on Wednesday recommended studying the country's value-added tax (VAT) exemptions as a way to enhance collection efficiency. In a press briefing, World Bank lead economist Gonzalo Varela said the Philippines can increase tax collection through better tax administration and… Read More
BIR seizes P151-M vape products in Manila, Rizal
April 3, 2024, 2:15 pm
MANILA – The Bureau of Internal Revenue (BIR) said 63,139 vape products with an estimated total tax liability of PHP151.1 million were seized from three warehouses in Manila and Rizal province. In a statement on Wednesday, BIR Commissioner Romeo Lumagui Jr. said the warehouses with illicit vape… Read More
First Gen exploring RE projects in Nueva Ecija
April 2, 2024, 5:53 pm
MANILA – First Gen Corp. is exploring to develop renewable energy (RE) projects near its hydroelectric power plant (HEPP) complex in Pantabangan, Nueva Ecija, including solar and wind farms as well as a battery energy storage system (BESS). In a statement Tuesday, First Gen vice president Ricky… Read More
RE investments dominate P1.9-T green lane projects
April 2, 2024, 4:32 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said Tuesday 51 out of 59 projects endorsed for green lane treatment are in the renewables sector. During the awarding of Green Lane Certificate to Prime Infrastructure Inc. in Parañaque City, Pascual said the One-Stop… Read More
PAL sets $450-M capex for 2024
April 2, 2024, 4:27 pm
MANILA – Philippine Airlines (PAL) has earmarked USD450 million (PHP25.4 billion) for its capital expenditure (capex) this year. In a media conference in Manila on Tuesday, PAL senior vice president and chief financial officer Anna Isabel Bengzon said 80 percent of the capex this year will be… Read More
BTr fully awards reissued Treasury bonds
April 2, 2024, 4:22 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued seven-year Treasury bonds (T-bonds) during Tuesday's auction. With a remaining term of six years and nine months, the reissued bonds fetched an average rate of 6.299 percent, higher than the comparable seven-year PHP Bloomberg… Read More
LandBank sees rise in online investors
April 2, 2024, 4:02 pm
MANILA – State-run Land Bank of the Philippines (LandBank) said more Filipino retail investors have utilized digital investment platforms to invest in retail treasury bonds (RTBs). In a statement on Tuesday, LandBank said it sold significantly more online placements in the recently concluded… Read More
Producer price index for manufacturing declines in Feb
April 2, 2024, 1:36 pm
MANILA – The producer price index (PPI) for manufacturing declined at a faster pace in February this year, the Philippine Statistics Authority (PSA) said on Tuesday. In a report, the PSA said the PPI for manufacturing declined by 1.2 percent in February, slightly faster than the 1.1 percent… Read More
Local shares up on improved regional sentiment; peso closes sideways
April 1, 2024, 8:51 pm
MANILA – The Philippine Stock Exchange index (PSEi) returned from the long Holy Week break recording new highs, while the peso closed sideways Monday. The PSEi finished the day at 6,979.81, or 1.11 percent higher than the last trading on March 26. All Shares also increased 0.80 percent to… Read More
PH hits record-high goods, services exports in 2023 at $104B
April 1, 2024, 8:19 pm
MANILA – Despite global trade challenges, Philippine exports surpassed the USD100-billion mark in 2023, an all-time high revenue for the country’s outbound trade. The Department of Trade and Industry (DTI) said in a statement Monday that based on the balance of payments (BOP) from the Bangko… Read More
Boutique airline transfers hub from NAIA to Clark
April 1, 2024, 7:47 pm
CLARK, Pampanga – Boutique airline Sunlight Air has officially made Clark International Airport (CRK) its new hub with an inaugural flight to Coron on Monday afternoon. Sunlight Air transferred its hub from the Ninoy Aquino International Airport (NAIA) to redefine its services and provide the… Read More
Worries over tighter oil supply drive price rise
April 1, 2024, 7:45 pm
ANKARA (AA) – Oil prices increased on Monday with worries over tighter oil supply from tension in the Middle East and the Russia-Ukraine war. International benchmark Brent crude traded at USD87.24 per barrel at 9:31 a.m. local time (0631 GMT), a 32 percent rise from the closing price of… Read More
