Business
LandBank net income hits all-time high
October 22, 2023, 1:47 pm
MANILA – State-run Land Bank of the Philippines (LandBank) on Sunday said its net income in the first nine months of the year reached an all-time high of PHP31.85 billion. In a statement, the bank said the profit during the period was higher by 24 percent than the PHP25.7 billion recorded last… Read More
DTI launches incentives program for local e-vehicle manufacturing
October 20, 2023, 8:00 pm
MANILA – The Department of Trade and Industry (DTI) launched the Electric Vehicle Incentives Scheme (EVIS) that aims to accelerate the development of the e-vehicle industry. At the 11th Philippine Electric Vehicle Summit in Pasay City Friday, DTI Undersecretary Rafaelita Aldaba said the EVIS… Read More
PSEi drops on inflation concern, peso ends sideways
October 20, 2023, 8:00 pm
MANILA – Both the local stock market and the currency closed Friday weaker amid concerns over prolonged high inflation rates. The Philippine Stock Exchange index (PSEi) ended the day weak with all counters in the red. The local bourse plunged 76.26 points, or 1.23 percent, to the 6,142.90 level,… Read More
Diokno pitches Maharlika Fund to biz in Gulf countries
October 20, 2023, 2:15 pm
MANILA – Department of Finance (DOF) Secretary Benjamin Diokno has pitched the Maharlika Investment Fund (MIF), the Philippines’ sovereign wealth fund, to business leaders in Saudi Arabia during a roundtable meeting with the private sector on Thursday. In a statement Thursday night, Diokno… Read More
PH gives more perks to firms using own renewable energy
October 19, 2023, 6:47 pm
MANILA – The Board of Investments (BOI) is providing more incentives to registered projects that will be supplying their own electricity by putting up their own renewable energy (RE) facility. Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said at a virtual briefing Thursday that… Read More
Peso weakens, PSEi slips on Wall Street’s drop, Middle East tension
October 19, 2023, 5:44 pm
MANILA – The local stock market ended the day in the negative territory while the peso depreciated against the US dollar on Thursday. "This Thursday, the local market dropped by 49.11 points (0.78 percent) to 6,219.16 as investors took negative cues from Wall Street overnight amid the continuous… Read More
China hints at linking Belt and Road to EU’s Global Gateway strategy
October 19, 2023, 4:33 pm
ISTANBUL – China hinted Wednesday at linking its Belt and Road Initiative with the European Union’s Global Gateway strategy, accepting competition from a “positive perspective.” Chinese Foreign Minister Wang Yi, while detailing the outcome of the third Belt and Road Forum for International… Read More
E-vehicle sales in PH seen to hit 6.6M mark by 2030
October 19, 2023, 3:45 pm
MANILA – The Electric Vehicle Association of the Philippines (EVAP) on Thursday projected that cumulative sales of e-vehicle in the country would reach 6.6 million units by 2030. The EVAP announced this outlook at the opening of the 11th Philippine Electric Vehicle Summit at the SMX Convention… Read More
Concerns about rising oil prices weaken shares, peso moves sideways
October 18, 2023, 8:03 pm
MANILA – Concerns about rising oil prices in the global market amid the escalating conflict in the Middle East weakened the local stock market on Wednesday while the Philippine peso closed sideways. “Amid heightened tensions between Israel and Hamas, the local bourse declined by 12.63 points… Read More
Coco sector leaders propose changes in biodiesel additives
October 18, 2023, 7:41 pm
MANILA – Coconut industry leaders want changes in the amount and kind of additives that are mixed in locally sold diesel fuel to increase the revenues of farmers and refiners, and also to cushion the domestic impact of rising crude prices in the international market. In an interview on… Read More
Chinese firms affirm optimism in PH market
October 18, 2023, 6:56 pm
MANILA – Companies based in Jiangsu Province in China affirmed their optimism in the Philippine market, noting that the country is an “ideal investment destination of choice,” the Board of Investment (BOI) said Wednesday. In a statement, the BOI said its official met with executives of… Read More
BSP, CDA sign deal to supervise cooperatives
October 18, 2023, 6:21 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) and the Cooperative Development Authority (CDA) signed on Wednesday a memorandum of agreement (MOA) to further strengthen their cooperation in supervising cooperatives. The MOA on “Cooperative Oversight Arrangement” outlines the concurrent… Read More
PH, World Bank discuss sustainable dev’t projects
October 18, 2023, 6:20 pm
MANILA – Finance Secretary Benjamin Diokno said he recently met with top officials of the World Bank (WB) to discuss the Philippines’ sustainable development projects in the pipeline. In a statement on Wednesday, the Department of Finance (DOF) said the meeting was held in Marrakech, Morocco… Read More
103 Bicol MSMEs to showcase top products at Manila fair
October 18, 2023, 4:36 pm
LEGAZPI CITY – A total of 103 micro, small and medium enterprises (MSMEs) in the Bicol region are set to join the mainstream market by featuring handicrafts and various delicacies at the Orgullo kan Bikol (OKB) Trade and Travel Fair at Shangri-La Plaza mall in Mandaluyong City from Oct. 19-22.… Read More
IMF urges BSP to keep rates steady unless upside risks materialize
October 18, 2023, 3:41 pm
MANILA – The International Monetary Fund (IMF) said Wednesday the Bangko Sentral ng Pilipinas (BSP) should maintain policy rates for now but should raise rates if upside risks materialize. In a briefing for the launch of the IMF's Regional Economic Outlook for Asia and Pacific, division chief of… Read More
Stronger BPO sector presence seen in Calabarzon
October 17, 2023, 9:12 pm
MALVAR, Batangas – The country’s business process outsourcing (BPO) sector is looking to strengthen its presence in the Calabarzon region, lured by the abundance of talent and generous government incentives. In an interview on Tuesday, Celeste Ilagan, IT and Business Process Association of the… Read More
Improved market sentiment lifts PH equities, peso on sideways
October 17, 2023, 6:02 pm
MANILA – The local bourse returned to the 6,200-mark, buoyed by better market sentiment while the peso slightly gained on Tuesday’s trading. “The PSEi (Philippine Stock Exchange index) gained today by 82.07 points, or 1.3 percent to close at 6,280.90, near two-week highs and also among 1.5… Read More
Vax manufacturer, irradiation facility pitch project to NDC
October 17, 2023, 5:45 pm
MANILA – The National Development Co. (NDC) said a new vaccine manufacturer and a gamma irradiation facility pitched their project proposals for possible investments. NDC General Manager Anton Mauricio told the Philippine News Agency (PNA) on the sidelines of an event in Parañaque City Monday… Read More
Norway eyes training Filipinos to build up offshore wind workforce
October 17, 2023, 5:22 pm
MANILA – The Royal Norwegian Embassy in Manila is in discussion with stakeholders in Norway and the Philippines to help the latter prepare its workforce for offshore wind energy developments. Norwegian Ambassador to the Philippines Christopher Lyster told the Philippine News Agency (PNA) that… Read More
BTr fully awards reissued 7-yr T-bonds
October 17, 2023, 5:21 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the reissued seven-year Treasury bonds (T-bonds). With a remaining term of six years and nine months, the reissued bond fetched an average rate of 6.675 percent. The auction attracted PHP46.1 billion in total tenders, 1.5 times… Read More
