Business

DOLE-3, other agencies bring gov't programs to MSMEs

CITY OF SAN FERNANDO, Pampanga – The Department of Labor and Employment-Central Luzon (DOLE-3), together with other government agencies, has brought programs and services closer to micro, small, and medium enterprises (MSMEs) in the region to boost their competitiveness.Through a three-day... Read More

Legazpi to bring business permit processing to remote villages

LEGAZPI CITY – The processing of business permits will soon become easier as the city government's Business Permits and Licensing Office (BPLO) will put up registration sites in this city’s southern and northern villages next year.Asuncion Calleja, BPLO chief, said in an interview on... Read More

PH economy grows faster at 7.6% in Q3

MANILA – The Philippine economy grew at a faster rate in the third quarter of the year at 7.6 percent, higher than the revised gross domestic product (GDP) growth in the second quarter at 7.5 percent, the Philippine Statistics Authority (PSA) reported Thursday.In a press conference, PSA... Read More

Multiformat retailer nets P1.85B in Q3 as economy further reopens

MANILA — Continued reopening of the economy helped boost Robinsons Retail Holdings’ net income in the third quarter of the year to PHP1.85 billion, up 64 percent year-on-year.In a report to the Philippine Stock Exchange (PSE) on Wednesday, the listed firm said net income attributable to... Read More

PH stock gauge slips anew, peso finishes up at 57-level

MANILA – The local bourse’s main index shed anew on Wednesday as investors awaited the results of the ongoing midterm elections in the United States but the peso gained against the dollar and even rose to 57-level.The Philippine Stock Exchange index (PSEi) declined by 0.75 percent, or... Read More

Fitch Solutions eyes growth in PH household spending in 2023

MANILA — Household spending in the Philippines is expected to get a boost from the projected rise in real income in 2023, a report by Fitch Solutions Country Risk & Industry Research said.In a report dated Nov. 8, a copy of which was sent to journalists on Wednesday, Fitch Solutions said... Read More

SEC clears Alternergy Holdings IPO

MANILA – The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) by Alternergy Holdings Corporation for up to PHP1.89 billion.In its Nov. 8 meeting, the commission en banc resolved to render effective the registration statement of Alternergy... Read More

Term deposit facility rates up ahead of MB meeting

MANILA – Expectations for another jump in the Bangko Sentral ng Pilipinas’ (BSP) key rates this month resulted in another uptick in the central bank’s term deposit facility (TDF) rates.The average rate of the seven-day facility rose to 5.0668 percent from 4.9569 percent during the... Read More

Gov't vows to sustain gains in labor market

MANILA – The National Economic and Development Authority (NEDA) welcomed the improvements in the country's labor market, as the unemployment rate settled at 5 percent in September, the lowest since the onset of the pandemic."The recent survey results show the gains of the full reopening of our... Read More

Oil down over demand fears after China boosts strict Covid policy

ANKARA – Oil prices declined on Tuesday due to looming demand fears after China reaffirmed the continuation of its strict pandemic policy.International benchmark Brent crude traded at USD97.82 per barrel at 10:01 a.m. local time (0701 GMT) for a 0.10 percent decrease from the closing price of... Read More

Data-informed governance of extractive industries crucial: Diokno

MANILA – Finance Secretary Benjamin Diokno has cited the importance of improving the inclusive and data-informed management of the extractive industries in driving long-term economic expansion as he cited its PHP363-billion contribution to government revenues from 2012 to 2019. “With the... Read More

5-year T-bond rate up

MANILA – The rate of five-year Treasury bond (T-bond) rose on Tuesday but the auction committee partially awarded the debt paper. The average rate of the securities inched up to 7.131 percent from 5.772 percent previously. The Bureau of the Treasury (BTr) offered the T-bond for PHP35 billion... Read More

D&L exec eyes 2022 income to exceed record

MANILA – Food ingredients and plastics manufacturer D&L Industries has registered a 17-percent year-on-year growth in net income as of end-September 2022 to PHP2.5 billion, making its top executive optimistic of surpassing its pre-pandemic 2018 feat. In a virtual briefing on Tuesday,... Read More

Filipino entrepreneurs inspired to venture into water business

MANILA – Crystal Clear Inc. exhibited its brand to inspire people to begin their entrepreneurial journey during the recent 2022 Franchise Asia Philippines Expo.The three-day event allowed Crystal Clear to encourage and showcase its quality brand to potential entrepreneurs through briefings and... Read More

PSEi ends flat ahead of US inflation data, peso strengthens

MANILA – The local bourse’s main index ended Tuesday sideways ahead of the release of United States October 2022 inflation report and results of the midterm elections but the peso gained to a US dollar.The Philippine Stock Exchange index (PSEi) declined slightly by 0.10 percent, or 6.48... Read More

Central Luzon posts record-high 8.4% inflation rate in October

CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon has accelerated to 8.4 percent in October from 7.1 percent in September 2022, based on the latest report of the Philippine Statistics Authority-Regional Statistical Services Office (PSA-RSSO) III.This is the highest inflation... Read More

PEZA bags P3.88-B investment pledges from Taiwan mission

MANILA – The Philippine Economic Zone Authority (PEZA) said it has secured investment pledges from its recent investment mission in Taiwan amounting to USD65 million or around PHP3.88 billion.In a statement Tuesday, PEZA said these investment commitments came from seven Taiwanese firms,... Read More

SEC revokes Astrazion’s corporate registration

MANILA – The Securities and Exchange Commission (SEC) has canceled the corporate registration of Astrazion Noble Task Community Foundation and Astrazion Global Holdings Philippines, Inc. for soliciting investments from public without the requisite license and through a fraudulent scheme.In an... Read More

Gov’t committed to improving quality of employment

MANILA – The Philippine labor market sustained its positive momentum with unemployment rate dropping to new record-low since the onset of the pandemic, while the government remains committed to improving the quality of employment to address underemployment in the country, according to the... Read More

PH logs lowest unemployment rate since Covid-19 onset

MANILA – Unemployment rate in September 2022 stood at 5 percent, the lowest in more than two years, the Philippine Statistics Authority (PSA) reported Tuesday.In a press conference, PSA chief and national statistician Undersecretary Dennis Mapa said the number of unemployed Filipinos in... Read More