PH integrates economic growth, sustainable dev’t

MANILA -- The government is integrating efforts to ensure sustainable path to the country’s development plan and long-term vision to make growth more inclusive.Socioeconomic Planning Secretary Ernesto Pernia said poverty and inequality in the country still persist despite exhibiting consistent... Read More

Industrialization of agri sector needed: ex-DA chief

MANILA -- The Philippines must accelerate modernization and industrialization in the agricultural sector to cope with globalization.This was the statement Wednesday made by former Agriculture Secretary William Dar in his closing remarks at the culmination of the ASEAN Agriculture Summit held at the... Read More

PSEi surges to new high; peso stays strong

MANILA - - Philippine Stock Exchange index (PSEi) surged to a new high Wednesday while the peso stayed firm as investors noted the negative external developments. PSEi rose 0.37 percent, or 31.12 points, to 8,344.05 points.The broader All Shares followed with a 0.32 percent, or 15.84 points, uptick... Read More

NegOcc rice farmers get P36.7-M payment from PCIC

BACOLOD CITY -- The Philippine Crop Insurance Corp. (PCIC) has paid almost PHP36.7 million in indemnity claims to rice farmers in Negros Occidental from January to September this year.Records of the PCIC as of Wednesday showed the claims were received by 7,446 rice farmers covering an area of... Read More

Tenders for TDF rise on Wednesday

MANILA -- Tenders for the Bangko Sentral ng Pilipinas' (BSP) Term Deposit Facility (TDF) rose substantially during Wednesday's auction.Data released by the central bank showed tenders for seven-day TDF reached PHP53.545 billion, higher than the PHP40 billion offering and last week's PHP27.785... Read More

British chamber to promote PH in UK roadshow

MANILA -- The British Chamber of Commerce Philippines (BCCP) will promote the Philippines as an investment destination for United Kingdom-based companies during the Britain in Southeast Asia (BISEA) Roadshow next week.BCCP Chairman Chris Nelson, in a briefing Wednesday, said he will represent the... Read More

DTI wants to keep foreign equity limit on retail trade

MANILA -- The Department of Trade and Industry (DTI) “may agree” to lower the USD2.5-million minimum paid-up capital for foreign investors to participate in retail trade activities in the country, but the agency would still want to keep foreign equity restrictions in the sector.DTI... Read More

PH still among fastest-growing economies in East Asia

MANILA -- The Philippines will continue to be one of the fastest-growing economies in East Asia and the Pacific in the next two years despite political noise, World Bank’s latest estimates showed.This, even as the Bank revised its forecast growth for the Philippine economy for 2017 to 6.6... Read More

SRA abolition possible thru legislation: Villar

MANILA -- Senator Cynthia Villar on Wednesday said the proposed abolition of the Sugar Regulatory Administration (SRA) can be done through legislation.“SRA was created by a legislation, so a legislation will remove the SRA,” said Villar, chairperson of the Senate Committee on Agriculture... Read More

Ombudsman clearance applications now accepted at Palawan mall

PUERTO PRINCESA CITY, Palawan--Government employees here no longer need to fly to Manila to get an Ombudsman clearance.Applications and payments for Ombudsman clearances can now be filed at the newly opened SM Puerto Princesa.Russell Fernandez, public relations officer of SM City Puerto Princesa,... Read More

DTI to equally test local and imported cement

MANILA -- The Department of Trade and Industry (DTI) plans to apply equal testing procedures for local cement manufacturers and importers.DTI Secretary Ramon Lopez told reporters that his agency has ongoing consultations with cement producers and importers to improve the current department... Read More

PH to issue Panda bonds by Nov.

MANILA -- National Treasurer Rosalia de Leon said Tuesday the government is focused on issuing its first renminbi-denominated Panda bond this year and is discounting any plan to issue other debt instruments overseas.“For now, we're really working on the Panda market. We're not coupling it with... Read More

PSEi up anew, peso stays firm vs USD

MANILA --- The Philippine Stock Exchange index (PSEi) registered an uptick of 0.69 percent, or 56.65 points, to 8,312.93 points, which a trader pointed to profit taking.The broader All Shares followed with the 0.51 percent, or 24.64 points, increase to 4,892.00 points.Most of the sectors registered... Read More

Gov’t needs to support innovators

MANILA --The government needs to have a champion for developing stronger policies and interventions to support and encourage innovations, which are applied to products and services meant to boost economic growth.In a discussion paper, Philippine Institute for Development Studies (PIDS) president... Read More

5-year Treasury bond rate down Tuesday

MANILA -- Average rate of the Philippines’ five-year Treasury bond (T-bond) fell Tuesday on high demand for the debt paper.Results of the auction at the Bureau of the Treasury (BTr) showed that rate of the debt paper declined to 3.979 percent from 4.226 percent during the auction last July... Read More

Liberalizing retail trade not DTI priority: Lopez

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez said the government can look into other sectors that can be opened to foreign investors instead of liberalizing retail trade.In a chance interview Tuesday, Lopez told the Philippine News Agency that liberalizing retail trade is... Read More

DTI provides stores for Marawi bizmen

MANILA --The Department of Trade and Industry (DTI) is providing stores to Maranao entrepreneurs who are among the internally displaced persons (IDPs) in Marawi brought by clashes between government troops and Maute group.
DTI Secretary Ramon Lopez said his agency is working on four... Read More

MPIC to invest P20-B for MRT rehab

MANILA -- Metro Pacific Investments Corporation (MPIC) has increased its investment on its planned takeover and rehabilitation of the Metro Rail Transit Line 3 (MRT-3) to PHP20 billion from the initial amount of PHP12 billion.The amount for the MRT-3’s rehabilitation, operations and... Read More

Pernia urges Senate to make TRAIN closer to House version

MANILA -- Socioeconomic Planning Secretary Ernesto Pernia has urged the Senate to make its version of Tax Reform for Acceleration and Inclusion (TRAIN) bill “closer” to the version of the House of Representatives.On the sidelines of the opening of the 28th National Statistics Month,... Read More

PSEi up Monday, peso retreats

MANILA -- The Philippine Stock Exchange index (PSEi) ended the week’s first trading day with gains unlike the peso, which was hurt by the general strengthening of the greenback.PSEi rose by 1.04 percent, or 84.85 points, to 8,256.28 points Monday after recovering last Friday .The broader All... Read More