Business

DOE: PH has over 4K MW new power supply in 2024 to boost grid

DOE: PH has over 4K MW new power supply in 2024 to boost grid

April 25, 2024, 6:00 pm

MANILA – Department of Energy (DOE) Undersecretary Rowena Cristina Guevara said there are at least 4,164.92 megawatts of new power supply that will come online this year to address the growing electricity demand in the country. In a virtual press briefing Thursday, Guevara said half of the new… Read More

NEDA chief spells out benefits of AO 20

NEDA chief spells out benefits of AO 20

April 25, 2024, 3:30 pm

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan has spelled out the need and benefits of implementing the Administrative Order (AO) 20 signed by President Ferdinand R. Marcos Jr. last April 18, which eases the importation process for agricultural products.… Read More

SM Investments to invest in underserved areas to trickle down growth

SM Investments to invest in underserved areas to trickle down growth

April 24, 2024, 7:46 pm

MANILA – Listed firm SM Investments Corp. (SMIC) will focus its expansion in the provinces, helping the government to trickle down the country’s strong economic growth. During SMIC’s annual stockholders’ meeting in Pasay City on Wednesday, SMIC president and chief executive officer… Read More

Budget deficit narrows in March

Budget deficit narrows in March

April 24, 2024, 7:30 pm

MANILA – The national government's budget deficit narrowed to PHP195.9 billion in March this year from PHP210.3 billion a year ago, data from the Bureau of the Treasury (BTr) released on Wednesday showed. The BTr said the lower budget gap during the month was on the back of 11.32 percent… Read More

PSEi continues to rebound; peso closes sideways

PSEi continues to rebound; peso closes sideways

April 24, 2024, 5:47 pm

MANILA – The local stock market continued to rebound on Wednesday, closing near the 6,600 level, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) gained 65.95 points, closing at 6,572.75, while the broader All Shares also rose 16.56 points to 3,463.46. "Philippine shares… Read More

PLDT expands deployment of forest monitoring system in Palawan

PLDT expands deployment of forest monitoring system in Palawan

April 24, 2024, 4:31 pm

MANILA – Telecommunications firm PLDT has joined stakeholders in the government and private sectors in the deployment of a monitoring system in the forests of Taytay, Palawan to identify illegal activities in the area such as illegal logging. In a statement on Wednesday, PLDT said the… Read More

Japanese contractor to buy 25% equity stake in Rizal Green Energy

Japanese contractor to buy 25% equity stake in Rizal Green Energy

April 24, 2024, 4:25 pm

MANILA – Taisei Corp., one of the largest contractors in Japan, is buying a 25-percent share in a subsidiary of Yuchengco-led PetroGreen Energy Corp. (PGEC) as part of its investment in renewable energy (RE) here. In a statement Wednesday, PGEC said it signed an investment framework and… Read More

BCDA doubles remittance to nat'l gov't in 2024

BCDA doubles remittance to nat'l gov't in 2024

April 24, 2024, 4:15 pm

MANILA – The Bases Conversion and Development Authority (BCDA) reported on Wednesday that it has doubled its remittance to the Bureau of the Treasury (BTr) in 2024 compared to the dividends remitted in 2023. The BCDA remitted PHP1.1 billion this year, higher than the PHP527 million worth of… Read More

NEDA hopeful on PH's economic growth expansion in 2024

NEDA hopeful on PH's economic growth expansion in 2024

April 24, 2024, 12:00 am

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan is optimistic that despite risks, the growth of the Philippines will continue to be one of the fastest in the region this year. "Let's put it this way, all the major development observers are seeing a 6… Read More

First Gen renews power deal with Murata for 100% RE supply

First Gen renews power deal with Murata for 100% RE supply

April 23, 2024, 9:19 pm

MANILA – Lopez-led First Gen Corp. has renewed its power supply agreement with Japanese electronics manufacturer Murata to energize its Batangas plant with 100-percent renewable energy. In a statement Tuesday, First Gen said its subsidiary Energy Development Corp. (EDC), which operates the… Read More

PH eyes joining US, Japan critical mineral deal

PH eyes joining US, Japan critical mineral deal

April 23, 2024, 7:55 pm

MANILA – The Philippines eyes to join the critical minerals agreement between the United States and Japan, therefore forming a trilateral partnership. In a recent interview, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said this was proposed during the meeting of top trade… Read More

PSEi back to 6,500-level, peso on sideways

PSEi back to 6,500-level, peso on sideways

April 23, 2024, 7:47 pm

MANILA – The Philippine Stock Exchange index (PSEi) took positive cues from Wall Street overnight, bringing back the local index to the 6,500-level, while the peso closed Tuesday sideways. The PSEi increased by 0.97 percent to 6,506.80, with All Shares also gaining by 0.62 percent to close at… Read More

PH eyes hosting loss, damage fund board to access climate finance

PH eyes hosting loss, damage fund board to access climate finance

April 23, 2024, 6:44 pm

MANILA – The Philippines is eyeing to host the Loss and Damage Fund (LDF) Board which will allow the country to access more climate financing. In a statement on Tuesday, the Department of Finance (DOF) said President Ferdinand R. Marcos Jr. created an interagency technical working group to lead… Read More

OceanaGold: Permits, endorsements secured for mine contract renewal

OceanaGold: Permits, endorsements secured for mine contract renewal

April 23, 2024, 5:46 pm

MANILA – OceanaGold Philippines Inc. (OGPI) said on Tuesday it has complied with all the necessary requirements needed to be able to secure a permit to extend the operations of its Didipio gold and copper mine in Nueva Vizcaya. In a statement, the company said it has yet to receive a copy of a… Read More

BTr partially awards re-issued Treasury bonds

BTr partially awards re-issued Treasury bonds

April 23, 2024, 3:54 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for the re-issued 20-year Treasury bonds (T-bonds). With a remaining term of 19 years and 10 months, the re-issued bond fetched an average rate of 7.017 percent, higher than the previous 20-year T-bond auction yield at 6.189… Read More

Tight power supply anew in Luzon, Visayas grids

Tight power supply anew in Luzon, Visayas grids

April 23, 2024, 3:49 pm Updated on April 23, 2024, 7:51 pm

MANILA – Two days after Luzon and Visayas grids went back to normal operations, the National Grid Corporation of the Philippines (NGCP) on Tuesday declared yellow alert status again on these islands. In an advisory this afternoon, the NGCP said it placed the Luzon grid under yellow alert from 1… Read More

NEDA seeks higher budget for Innovation Fund for 2025

NEDA seeks higher budget for Innovation Fund for 2025

April 22, 2024, 10:01 pm

MANILA – The National Economic and Development Authority (NEDA) on Monday said it will seek a bigger budget for its innovation fund next year, a portion of which will be used for an innovation competition. NEDA Undersecretary Rosemarie Edillon told reporters on the sidelines of the 2024 National… Read More

PBBM’s directive on imports boosts stock investors; peso ends strong

PBBM’s directive on imports boosts stock investors; peso ends strong

April 22, 2024, 9:36 pm

MANILA – The directive of President Ferdinand R. Marcos Jr. to ease the importation of agricultural products has boosted investors' sentiment on Monday, bringing back the local index to the green territory, while the peso closed strong at the start of the week. The Philippine Stock Exchange… Read More

Buffer stocking of agri products eyed to counter price manipulation

Buffer stocking of agri products eyed to counter price manipulation

April 22, 2024, 9:34 pm

MANILA – The Department of Agriculture (DA) has proposed during the National Price Coordinating Council (NPCC) meeting a maximum of 10 days buffer stock of agricultural products to counter illegal price manipulation. In a press conference after the NPCC meeting at the Department of Trade and… Read More

NEDA backs proposal to extend RCEF

NEDA backs proposal to extend RCEF

April 22, 2024, 6:56 pm Updated on April 22, 2024, 7:12 pm

MANILA – The National Economic and Development Authority (NEDA) is supporting the proposal to extend the Rice Competitiveness Enhancement Fund (RCEF) beyond 2024. "I'm fine. I'm okay with that, " NEDA Secretary Arsenio Balisacan told reporters on the sidelines of the 2024 National Innovation Day… Read More