Business
PCCI: PH could hit 6% full-year GDP growth in 2023
November 9, 2023, 7:19 pm
MANILA – Philippine Chamber of Commerce and Industry (PCCI) president George Barcelon has a rosy outlook for the Philippine economy for the full year of 2023, as he is optimistic that the gross domestic product (GDP) growth could reach 6 percent. Barcelon made the statement following the third… Read More
PH debt-to-GDP improves in Q3
November 9, 2023, 6:40 pm
MANILA – The share of the country's total liabilities to gross domestic product (GDP) improved in the third quarter of the year. In a statement on Thursday, the Bureau of the Treasury (BTr) said with the 5.9 percent GDP expansion in the third quarter, the debt-to-GDP ratio improved to 60.2… Read More
PH manufacturing growth up in September
November 9, 2023, 5:58 pm
MANILA – The country's manufacturing sector grew at a faster pace in September, the Philippine Statistics Authority (PSA) said Thursday. Results of the latest Monthly Integrated Survey of Industries (MISSI) showed that the Value of Production Index (VaPI) expanded by 8.9 percent, up from the 7.5… Read More
BMI revises upward PH GDP's 2023 outlook
November 9, 2023, 5:57 pm
MANILA – Fitch Solutions unit BMI has raised its growth forecast for the Philippine economy for the full year of 2023 following the strong gross domestic product (GDP) growth result in the third quarter of the year. From a projection of 5.3 percent, BMI revised its GDP 2023 growth outlook for… Read More
PH joins framework to uphold tax fairness, promote int’l cooperation
November 9, 2023, 5:57 pm
MANILA – The Department of Finance (DOF) said the Philippines became a member of the Organisation for Economic Cooperation and Development (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) Inclusive Framework on Nov. 8, 2023. In a statement on Thursday, the DOF said the… Read More
Meralco power rate hits P12/kWh in November
November 9, 2023, 1:22 pm
MANILA – The Manila Electric Company (Meralco) said on Thursday the electricity rate in November has further increased, now reaching PHP12.0545 per kilowatt hour (kWh), due to higher transmission charge. The distribution utility firm said power rate this month is higher by PHP0.2347 per kWh from… Read More
PH economy grows by 5.9% in Q3
November 9, 2023, 10:18 am Updated on November 9, 2023, 2:26 pm
MANILA – The Philippine economy grew by 5.9 percent in the third quarter of the year, the highest recorded so far among the major emerging economies in Asia that released their growth data during the period. In a press briefing on Thursday, National Statistician Dennis Mapa said the gross… Read More
PAL, GCash to offer exclusive ‘seat sales’, boost PH tourism
November 8, 2023, 10:44 pm
MANILA – The Philippine Airlines (PAL) and digital banking app GCash on Wednesday announced a partnership to offer its customers “seat sales” and different promos every weekend beginning Nov. 18, aimed at boosting local tourism as well as in some Asian destinations. In a statement, GCash… Read More
Lower October inflation 'not surprising' -- economist
November 8, 2023, 9:01 pm
MANILA – The decline in the country’s inflation numbers in October did not come as a surprise because of the series of modest oil price rollbacks, coupled with less price pressures on heavily-weighted food items, an economist in the academe said. The Bangko Sentral ng Pilipinas (BSP) reported… Read More
Hatchery project aims to raise bangus fry production in Pangasinan
November 8, 2023, 8:35 pm
LINGAYEN, Pangasinan – The Pangasinan provincial government targets to produce over 100 million bangus (milkfish) fry and 48 million bangus larvae annually with the construction of a breeding and hatchery to provide the need of local producers. Pangasinan Governor Ramon Guico III, in an… Read More
PSEi up for 5th straight day on better jobs data, peso ends sideways
November 8, 2023, 7:11 pm
MANILA – The local bourse continued to rally for the fifth consecutive days following the lower unemployment data, while the peso slightly gained but still closed sideways during mid-week’s trading. The benchmark Philippine Stock Exchange index (PSEi) finished Wednesday 23.71 points higher to… Read More
TDF registers low demand, rates increase
November 8, 2023, 6:58 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) hiked on Wednesday the offering for the term deposit facility (TDF) but this was met with low demand and higher rates. The BSP increased the offer volume for the one-week facility to PHP230 billion from PHP190 billion during the auction last Nov.… Read More
PH monthly electronics exports grow 4.6% in September
November 8, 2023, 5:39 pm
MANILA – The country’s export revenues of electronic goods in September grew 4.6 percent month-on-month, data from the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) showed. SEIPI president Dan Lachica said the industry’s exports in September 2023… Read More
P10.31-B rolling mills project gets ‘green lane’ treatment
November 8, 2023, 4:18 pm
MANILA – The PHP10.31-billion rolling mills manufacturing project of Real Steel Corp. (RSC) has been endorsed by the Board of Investments’ (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI) for green lane treatment in national government agencies (NGAs) and local government… Read More
DOF steps up anti-graft drive
November 8, 2023, 4:13 pm
MANILA – The Department of Finance (DOF) said Wednesday its Revenue Integrity Protection Service (RIPS) has stepped up its anti-graft drive. In a statement, the DOF said from July 2022 to Sept. 30, RIPS has initiated a total of 58 investigations against suspected erring officials and employees… Read More
PSA keeps Q2 economic growth at 4.3%
November 8, 2023, 2:25 pm
MANILA – The Philippine Statistics Authority (PSA) on Wednesday maintained the second quarter Philippine economic growth at 4.3 percent. "The Gross Domestic Product for the preliminary second quarter 2023 was maintained at 4.3 percent, as of November 2023," the PSA said in a report. The PSA,… Read More
E. Samar orders miners to settle unpaid taxes, enforce measures
November 8, 2023, 1:30 pm
MANILA – The Eastern Samar provincial government has given six mining companies in the province until the end of the year to fully implement environmental and social protection measures, and pay their taxes to continue operations, officials said on Tuesday. In a briefing in Quezon City, Eastern… Read More
USAID backs PH in boosting manufacturing workforce, cybersecurity
November 8, 2023, 1:23 pm
MANILA – Visiting United States Agency for International Development (USAID) assistant administrator of the Bureau for Asia Michael Schiffer has announced the agency’s broadening support to the Philippines, especially in upskilling its workforce for advance manufacturing and helping the… Read More
Value of agri output down in Q3
November 8, 2023, 12:41 pm
MANILA – The total value of agriculture and fisheries production declined in the third quarter of the year due to the reductions in crops and fisheries production, the Philippine Statistics Authority (PSA) said. In a report released on Wednesday, the PSA said the value of production in… Read More
Unemployment rate declines in Sept.
November 8, 2023, 12:00 pm
MANILA – The country's unemployment rate dropped to 4.5 percent in September this year from 5 percent in the same month last year, the Philippine Statistics Authority (PSA) reported on Wednesday. In a briefing, National Statistician Dennis Mapa said the number of unemployed Filipinos during the… Read More
