Business

Upbeat earnings reports boost PH stocks index, peso

MANILA – Positive earnings reports by listed firms here and overseas boosted the Philippines’ main stocks index to the 6,8000-level on Monday and the peso mirrored it.The Philippine Stock Exchange index (PSEi) rose by 1.43 percent, or 96.18 points, to 6,822.32 points.All Shares followed... Read More

NEDA, DTI make final push for Senate nod on RCEP

MANILA – The National Economic and Development Authority (NEDA) and the Department of Trade and Industry (DTI) are making their final push for the Senate to concur on the Regional Comprehensive Economic Partnership (RCEP) during this administration.This, as the agencies once again briefed... Read More

PCCI to push for bills improving connectivity in PH

MANILA – The Philippine Chamber of Commerce and Industry (PCCI) said it will support the passage of bills in the 19th Congress that will improve internet connectivity in the country.In a statement Monday, PCCI said legislations that will push for better internet services include the Open... Read More

Firms to adjust oil prices Tuesday

MANILA – Oil companies are set to implement price adjustments starting Tuesday.In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell will roll back gasoline prices by PHP1.70 per liter and will hike diesel prices by PHP1.20 per liter.Caltex, Seaoil,... Read More

Ease of paying taxes bill to support Diokno's digitalization push

MANILA – The Ease of Paying Taxes (EOPT) bill will enable incoming Finance Secretary Benjamin Diokno pursue his digitalization and modernization priorities for the tax agencies, a House leader said on Monday.In a statement, House Ways and Means Committee chair Joey Salceda said the EOPT is... Read More

France assists Guimaras prepare mango products for EU market

ILOILO CITY – The French government is helping the province of Guimaras develop the geographic indication (GI) for its sweet mango products in preparation for export to markets in the European Union (EU).“The French government is helping the Intellectual Property Office (IPO) and those... Read More

Improved alert level status to help gov't finances: economist

MANILA – The continued reopening of the economy is seen to further lift the government’s revenue collections, as shown by the PHP4.9 billion budget surplus registered in April.The Bureau of the Treasury reported on Friday that revenues in the fourth month this year rose by 19.19 percent... Read More

BSP 28-day bills' rates rise anew

MANILA – The Bangko Sentral ng Pilipinas’ (BSP) 28-day securities registered oversubscription on Friday amid higher volume offer, and its interest rate jumped anew.Data released by the central bank showed that the average rate of the BSP bills, which is among the central bank’s... Read More

PH stocks index rises anew, peso keeps footing vs. greenback

MANILA – Risk-on sentiments reigned in the local bourse on Friday, resulting in another increase for the main stocks index, while the peso again finished the trade sideways against the US dollar.The Philippine Stock Exchange index (PSEi) increased by 1.21 percent, or 80.62 points, to 6,726.14... Read More

Micro, small enterprises may apply for wage hike exemption: DOLE

CITY OF SAN FERNANDO, Pampanga – Micro and small enterprises, especially those affected by the pandemic, may apply for wage hike exemption, the Department of Labor and Employment (DOLE) 3 (Central Luzon) said on Friday.DOLE-3 Director Geraldine Panlilio said establishments with not more than... Read More

BOC-Port of Clark exceeds May collection target

CITY OF SAN FERNANDO, Pampanga – The Bureau of Customs (BOC) – Port of Clark hit its revenue collection goal for the fifth straight month in May.A report from the Collection Division showed that BOC-Port of Clark surpassed its target for the month with an actual collection of PHP221.53... Read More

China’s largest hot pot chain to open 1st store in PH

MANILA – Haidilao, the largest hot pot restaurant chain in China, will open its first store in the Philippines next month, the Department of Trade and Industry (DTI) said Friday.The DTI said Haidilao International Holding Ltd. would continue to open more restaurants within the year, creating... Read More

Sin taxes help gov’t deliver services amid pandemic: NEDA

MANILA – Higher levy on sin products such as alcohol, tobacco, and e-cigarettes as well as sugar-sweetened beverages has helped the government to deliver health and social services amid the global health and economic crisis.In a statement Friday, the National Economic and Development Authority... Read More

C. Visayas wage orders awaiting nat’l body’s nod

CEBU CITY – The Department of Labor and Employment in Central Visayas (DOLE-7) said on Friday the regional wage board has submitted its wage order to the National Wages and Productivity Commission (NWPC) for approval.DOLE Undersecretary Victor del Rosario, who is concurrent regional director,... Read More

AboitizPower RE project in Pangasinan to start ops in 2023

MANILA – Aboitiz Power Corp. will begin the commercial operation of its second solar power project in the province of Pangasinan in June 2023.In a statement Friday, the firm said through PV Sinag Power Inc., a special purpose vehicle of its unit Aboitiz Renewable Inc. (ARI), the 159... Read More

Incoming DOF chief to retain most undersecretaries, treasurer

MANILA – There will be no major changes in the line-up of undersecretaries for the next administration, Bangko Sentral ng Pilipinas (BSP) Governor and incoming finance chief Benjamin Diokno said on Thursday.“I intend to retain most of the Undersecretaries and also (National) Treasurer... Read More

PH stocks index rises anew as peso finishes sideways

MANILA – Continued hawkish tone from the Federal Reserve resulted to another uptick in the Philippines’ main equities index on Thursday and the peso continued to remain firm against the greenback.The Philippine Stock Exchange index (PSEi) rose by 0.72 percent, or 47.76 points, to... Read More

Marcos’ economic team well received by officials, biz community

MANILA – Government officials and the business community have expressed their support for the incoming administration as the camp of President-elected Ferdinand “Bongbong” Marcos Jr. announced the names of its Cabinet members, especially the economic managers.Department of Trade... Read More

Diokno accepts DOF post

MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has accepted the invitation of the incoming Marcos government to head the Department of Finance (DOF) and vowed for policy continuity to sustain economic recovery.In a statement issued on Thursday, Diokno said “it is an... Read More

PH stocks gauge recovers, peso still sideways

MANILA – Philippines shares recovered on Wednesday despite global economic slowdown worries and the peso sustained its sideways close against the US dollar.The Philippine Stock Exchange index (PSEi) gained 0.31 percent, or 20.31 points, to 6,597.76 points.All Shares rose by 0.10 percent, or... Read More