Business
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
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
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
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
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
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
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
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
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
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
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
Over $700M invested in PH digital banking sector
April 22, 2024, 5:46 pm
MANILA – The Philippine digital banking sector already received more than USD700 million investments from global and local investors since 2021. In a statement on Monday, the Digital Bank Association of the Philippines (DiBA PH) said the number of depositors also grew to 5.9 million as of… Read More
PEZA registers P15-B projects in April
April 22, 2024, 5:19 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has registered 23 new projects worth PHP15 billion in April 2024 alone. The investment approvals for this month were higher than the total project registrations from January to March 2024 amounting to PHP14.95 billion. In a statement Monday,… Read More
3 projects pitched for Luzon Economic Corridor – BCDA
April 22, 2024, 4:53 pm
MANILA – The Bases Conversion and Development Authority (BCDA) said on Monday three of its projects are being endorsed for the proposed Luzon Economic Corridor. The BCDA said the Subic-Clark Railway Project (SCRP), expansion of the Clark International Airport, and the Clark National Food Hub are… Read More
BTr fully awards Treasury bills
April 22, 2024, 4:52 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills) at higher rates. The 91-, 182-, and 364-day T-bills fetched average rates of 5.888 percent, 6.002 percent, and 6.080 percent, respectively. Last week, the average rate of the 90-, 181-, and… Read More
Q1 2024 vehicle sales up 12.7%
April 22, 2024, 4:17 pm
MANILA – The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturer Association (TMA) reported on Monday that local vehicle sales from January to March 2024 increased by 12.7 percent. From 97,284 units sold during the same period in 2023, vehicle sales shot… Read More
Over 179M coins deposited in BSP machines
April 22, 2024, 2:52 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said PHP648.9 million worth of coins have been deposited through its coin deposit machines (CoDMs) as of April 15. In a social media post on Monday, BSP said the amount is equivalent to 179.6 million pieces of coins from over 161,000 transactions.… Read More
Oil firms to adjust prices on April 23
April 22, 2024, 2:18 pm
MANILA – Oil companies are set to adjust petroleum prices on Tuesday, April 23. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they would increase gasoline prices by PHP0.55 per liter and slash prices of diesel by PHP0.95 per liter. For six consecutive… Read More
PH first to sign rapid response to crisis pact with WB
April 22, 2024, 11:12 am
MANILA – The Philippines recently signed the Rapid Response Option (RRO) agreement with the World Bank Group (WBG), allowing the country to deploy resources from its existing bank portfolio more effectively to deliver a swift response when crises occur. The Philippines is the first country to… Read More
BOI reaches almost 50% of 2023 pledges in 2024 Q1
April 21, 2024, 6:35 pm
MANILA — The Board of Investments (BOI) registered PHP607.22 billion worth of projects from January to April 17 this year. BOI Director Sandra Marie Recolizado said it is almost half of the registered projects for the full year of 2023, valued at PHP1.26 trillion. She told the media on Friday… Read More
