Business

BTr fully awards Treasury bills

BTr fully awards Treasury bills

June 25, 2024, 4:00 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for Treasury bills (T-bills). The 91-, 183-, and 364-day T-bills fetched average rates of 5.666 percent, 5.930 percent, and 6.031 percent, respectively – all lower than the prevailing secondary market rates. The… Read More

South Cotabato’s first IT park to start operation in 2026

South Cotabato’s first IT park to start operation in 2026

June 25, 2024, 3:25 pm

MANILA – The first information technology (IT) park in South Cotabato will begin operation in January 2026, the Philippine Economic Zone Authority (PEZA) said Tuesday. In a statement, the PEZA said Deputy Director General for Operations Vivian Santos signed a registration agreement with Matutum… Read More

BIR removes 5-year validity period of eCARs

BIR removes 5-year validity period of eCARs

June 25, 2024, 1:22 pm

MANILA – The Bureau of Internal Revenue (BIR) has removed the five-year validity period of electronic Certificate Authorizing Registration (eCAR). In a statement on Tuesday, BIR said Commissioner Romeo Lumagui Jr. issued Revenue Regulation (RR) No. 12-2024 which extends the validity of all… Read More

BOI on track to achieving 2024 target approvals

BOI on track to achieving 2024 target approvals

June 25, 2024, 11:50 am

MANILA – Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo said the investment promotion agency (IPA) remains on track to achieve its target approvals this year of PHP1.3 trillion to PHP1.5 trillion. In a briefing in Makati City on Monday, Rodolfo said he is… Read More

Big-time oil price hike set Tuesday

Big-time oil price hike set Tuesday

June 24, 2024, 5:57 pm

MANILA – Pump prices will be more expensive starting Tuesday (June 25) as oil firms will implement more than PHP1 increase. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, Shell, and Unioil said they would increase gasoline prices by PHP1.40 per liter, and diesel… Read More

BMI: PH tourist arrivals to surpass pre-pandemic level in 2025

BMI: PH tourist arrivals to surpass pre-pandemic level in 2025

June 24, 2024, 5:54 pm

MANILA – Fitch Solutions’ unit BMI has forecast that tourist arrivals in the Philippines next year may exceed the 8.2 million visitors before the Covid-19 pandemic. In a commentary released Monday, BMI projected a 32.6-percent increase in tourist arrivals this year to reach 6.6 million from 5… Read More

Stocks up, peso closes flat on Monday

Stocks up, peso closes flat on Monday

June 24, 2024, 4:59 pm

MANILA – After eight consecutive days of decline, the Philippine stock market rebounded on Monday as investors bought stocks at bargain levels, while the peso closed flat. The Philippine Stock Exchange index (PSEi) gained 113.98 points to close at 6,272.46. All Shares also went up by 32.57… Read More

NEDA chief: Gov't flexible to review, change rice tariff

NEDA chief: Gov't flexible to review, change rice tariff

June 24, 2024, 4:53 pm

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Monday assured that the government has flexibility to review and tweak rice tariff depending on changes in the economic environment. "It's already in the EO signed by the President, 'di ba, that there is a… Read More

Investing in kids' early years to boost PH human capital: WB

Investing in kids' early years to boost PH human capital: WB

June 24, 2024, 3:36 pm

MANILA – The government is implementing programs to support human capital but more needs to be done to take advantage of Filipinos' potential to achieve long-term growth, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Monday. Human capital encompasses the… Read More

Japan delivers P22-B investments to PH; adds P7.4-B in pledges

Japan delivers P22-B investments to PH; adds P7.4-B in pledges

June 24, 2024, 3:07 pm

MANILA – Japanese companies are delivering their investment commitments to the Philippines that they presented to President Ferdinand R. Marcos Jr. during his official trips to the East Asian country, the top trade official said on Monday. Department of Trade and Industry (DTI) Secretary Alfredo… Read More

BCDA secures 2 deals during Japan trip

BCDA secures 2 deals during Japan trip

June 23, 2024, 11:05 am

MANILA – The Bases Conversion and Development Authority (BCDA) has formalized two agreements with Japanese organizations during a high-level visit to Tokyo, ensuring the smart and sustainable development of John Hay Special Economic Zone, New Clark City, and its other economic zones. The first… Read More

BOI green lanes P4.8-B hydroelectric power project in N.Vizcaya

BOI green lanes P4.8-B hydroelectric power project in N.Vizcaya

June 21, 2024, 7:37 pm

MANILA – The Board of Investments (BOI) said Friday it has granted Certificate of Green Lane Endorsement to FDC Renewables Corp. for its 33.4-megawatt Pampang Hydroelectric Power Project in Nueva Vizcaya worth PHP4.8 billion.  The green lane endorsement was awarded last June 11, and is part of… Read More

Meralco opens bidding for 400MW power supply

Meralco opens bidding for 400MW power supply

June 21, 2024, 7:19 pm

MANILA – The Manila Electric Company (Meralco) has initiated the Competitive Selection Process (CSP) for 400 megawatts (MW) of power supply to meet the increasing energy demand starting next year. This follows the Department of Energy’s (DOE) issuance of a Certificate of Conformity to… Read More

Stocks down on foreign net selling, peso closes flat

Stocks down on foreign net selling, peso closes flat

June 21, 2024, 6:08 pm

MANILA – The local stock market ended the last trading day of the week in the negative territory due to net foreign selling, while the peso closed almost flat. The Philippine Stock Exchange index (PSEi) dropped 186.08 points to 6,158.48, while the broader All Shares also fell 65.11 points to… Read More

Economist: BSP likely to maintain policy rates next week

Economist: BSP likely to maintain policy rates next week

June 21, 2024, 4:20 pm

MANILA – The Bangko Sentral ng Pilipinas' (BSP) Monetary Board will likely keep policy rates unchanged during its meeting next week, an economist said. In a Viber message on Friday, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the BSP will likely match the United… Read More

Recto urges Japanese firms to invest in PH

Recto urges Japanese firms to invest in PH

June 21, 2024, 2:20 pm

MANILA – Finance Secretary Ralph Recto urged Japanese investors to invest in the Philippines and assured them that ongoing amendments to the country’s fiscal incentives system will address their key concerns. "To begin with, the Philippines is booming and has all the makings of a tiger… Read More

PSEi down on investors’ wait-and-see mode, peso almost flat

PSEi down on investors’ wait-and-see mode, peso almost flat

June 20, 2024, 7:44 pm

MANILA – The local stock barometer continued to decline for the seventh straight day as investors remained on a wait-and-see mode, while the peso closed sideways. The benchmark Philippine Stock Exchange index (PSEi) finished the day decreasing by 0.34 percent to 6,344.56, while the broader All… Read More

BIR: Tax liability of seized cigarettes, vape reaches P7.2-B

BIR: Tax liability of seized cigarettes, vape reaches P7.2-B

June 20, 2024, 7:20 pm

MANILA – The total tax liability from the confiscated illicit cigarettes and vape products this year has already amounted to more than PHP7 billion, the Bureau of Internal Revenue (BIR) said. "Ito pong nahuli natin ngayong taon pa lang na ito ay marami-rami na ‘no. Sa sigarilyo, mahigit… Read More

P2.32-T investments endorsed for green lane treatment

P2.32-T investments endorsed for green lane treatment

June 20, 2024, 3:51 pm

MANILA – The Board of Investments (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI) has issued green lane certificates to 74 projects with total capital amounting to around PHP2.321 trillion as of Thursday. Data provided by the BOI to trade reporters showed that the majority, or… Read More

BIR allows use of remaining ORs until fully consumed

BIR allows use of remaining ORs until fully consumed

June 20, 2024, 3:35 pm

MANILA – Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. has ordered the bureau to allow the use of the remaining official receipts until they are fully consumed, instead of only until Dec. 31, 2024. In a statement on Thursday, the BIR said the pronouncement is included in… Read More