Business
PSEi, peso close weak for 2 trading days
March 25, 2024, 8:15 pm
MANILA – Both the local shares and currency continued to fall for two consecutive trading days. The Philippine Stock Exchange index (PSEi) declined 0.42 percent to 6,853.10, with All Shares also slipping by 0.27 percent to 3,578.21. “Philippine shares were quietly sold down as investors… Read More
PH saves 132 MW of energy on Earth Hour
March 25, 2024, 8:05 pm
MANILA – The Philippines saved 132.11 megawatts (MW) of energy during this year’s Earth Hour by turning off non-essential lights and appliances from 8:30 to 9:30 p.m. last Saturday (March 23). According to the Department of Energy (DOE), the energy savings this year more than doubled from last… Read More
PEZA: More EU investments to enter PH with FTA talks revival
March 25, 2024, 7:45 pm
MANILA – The Philippine Economic Zone Authority (PEZA) is bullish that more investors from the European Union (EU) will be keen on exploring opportunities in export zones in the country with the revival of the negotiations of the Philippines-EU free trade agreement (FTA). “With the initiatives… Read More
New PH building gets LEED Gold Certification
March 25, 2024, 7:25 pm
MANILA – More Philippine companies are going “green” with the design of their buildings providing environmental, social, and governance benefits to the firm. Adding to the growing number of buildings with Leadership in Energy and Environmental Design (LEED) certification in the country is… Read More
Vietnamese EV taxis to register with BOI
March 25, 2024, 5:58 pm
MANILA – Another investment commitment from President Ferdinand R. Marcos Jr.’s foreign trips is taking shape as a Vietnamese ride-hailing app that uses electric vehicles is eyeing to register with the Board of Investments (BOI). The BOI told reporters in a Viber message Monday that Green and… Read More
Bureau of the Treasury fully awards T-bills
March 25, 2024, 5:54 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 5.710 percent, 5.880 percent, and 5.982 percent, respectively, all lower than prevailing secondary market benchmarks. Rizal Commercial… Read More
DOF pushes for excise tax on single-use plastic bags
March 25, 2024, 4:35 pm
MANILA – The Department of Finance (DOF) said the proposed excise tax on single-use plastic bags (SUPs) will not only generate more than PHP31 billion in estimated revenue but will also help address climate change. In a statement on Monday, the DOF said it is proposing a weight-based rate for… Read More
PH economy forecast to grow by 6.1% in Q1
March 25, 2024, 3:54 pm
MANILA – Philippine economic growth is projected to accelerate in the first quarter of the year, mainly driven by the government's infrastructure spending, a report released by the First Metro Investment Corporation (FMIC) and the University of Asia and the Pacific (UA&P) said. In the latest… Read More
Travelers face oil price hikes on Holy Tuesday
March 25, 2024, 3:52 pm
MANILA – Those who will be traveling during the Holy Week are advised to gas up as a hefty oil price increase will be effective Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell announced that they will hike gasoline prices by PHP2.20 per liter and… Read More
P14-B copper mining project from PBBM’s Aussie trip secures permit
March 24, 2024, 9:40 am
MANILA – For the first time in 15 years, the Philippine government granted permit to the copper mining project of Perth-based Celsius Resources with initial investments of USD253 million, or around PHP14 billion. In a statement over the weekend, the Department of Trade and Industry (DTI) said… Read More
PSEi succumbs to profit taking, peso weak
March 22, 2024, 7:09 pm
MANILA – The local index succumbed to profit taking as it neared the 7,000 resistance level, while the Philippine peso lost its strength to end the week. The benchmark Philippine Stock Exchange index (PSEi) dropped 1.17 percent to 6,881.97, with the broader All Shares likewise declining by 0.76… Read More
Change of leadership in AboitizPower starting H2 2024
March 22, 2024, 6:57 pm
MANILA — Aboitiz Power Corp. president and chief executive officer Emmanuel Rubio will step down from his current position in the second half of the year. In a disclosure with the Philippine Stock Exchange Friday, the company also called AboitizPower said Rubio will be replaced by Danel Aboitiz,… Read More
Samsung keen to supply PH digitization initiatives
March 22, 2024, 6:43 pm
MANILA – The local unit of Korean electronics firm Samsung sees great opportunity in the Philippines, especially in business-to-business (B2B) solutions, with the country’s ongoing digitalization efforts. In an interview with Samsung Electronics Philippines Corp. president Chu Minsu in Pasay… Read More
US Justice Department launches historic anti-trust suit against Apple
March 22, 2024, 4:53 pm
WASHINGTON – The US Justice Department announced Thursday a historic anti-trust lawsuit against Apple, alleging the tech company "relies on exclusionary anti-competitive conduct" to unlawfully maintain its smartphone market dominance. Attorney General Merrick Garland said Apple "has maintained… Read More
Recto inducts new EJAP officers
March 22, 2024, 4:20 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto led the induction of the new set of officers of the Economic Journalists Association of the Philippines (EJAP), the country’s premier organization of business reporters. In his keynote speech at the induction ceremony at the DOF Office… Read More
BSP: PESONet, Instapay services must be available even on holidays
March 22, 2024, 4:15 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Friday reminded BSP-Supervised Financial Institutions (BSFIs) offering PESONet and InstaPay services to ensure the availability of customer services during holidays and non-working days consistent with BSP Memorandum M-2023-011. The BSP issued… Read More
Shares returns to 6,900 mark as peso strengthens
March 21, 2024, 10:02 pm
MANILA – The local bourse and currency both improved on Thursday. The Philippine Stock Exchange index (PSEi) bounced back to the 6,900-level this day after gaining 47.27 points, or 0.69 percent, closing at 6,904.04. All Shares also improved by 9.65 points, or 0.27 percent, to 3,581.75 level. All… Read More
60-minute lights off for Earth Hour
March 21, 2024, 8:35 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla has enjoined the public to turn off non-essential lights for 60 minutes during the Earth Hour on March 23 from 8:30 p.m. to 9:30 p.m. The underlying mission of such act, no matter how small it is, and the call for cooperation will… Read More
Gov't signs PPP Code IRR
March 21, 2024, 6:17 pm
MANILA – Government officials on Thursday signed the implementing rules and regulations (IRR) of the Public-Private Partnership (PPP) Code. The IRR was signed by National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan, PPP Center Executive Director Cynthia Hernandez,… Read More
RE investments hike Aboitiz Group’s capex to PHP153-B
March 21, 2024, 6:02 pm
MANILA – The Aboitiz Group is investing big in renewable energy (RE) projects this year, hiking the company’s capital expenditure (capex) to PHP153 billion, or more than double last year’s PHP65 billion. The Aboitiz Group confirmed Thursday earlier reports that it earmarked PHP153 billion as… Read More
