MANILA – The Department of Energy (DOE) bared Thursday that Israeli firm Ratio Petroleum, the operator of Service Contract (SC) 76, has found prospective oil and gas deposits in the north part of East Palawan Basin as a result of its exploration within the block.“Ratio Petroleum, the... Read More
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has encouraged Japanese companies to further invest and expand their operations in the Philippines.This, as Pascual accompanied President Ferdinand R. Marcos Jr. in his official working visit to Japan, where they met 11... Read More
ISTANBUL – The Walt Disney Company announced Wednesday that it is cutting 7,000 jobs, or 3.2 percent of its workforce, as the company reorganizes amid economic uncertainty.The US-based multinational entertainment conglomerate said the laying off would save the company around US$5.5 billion in... Read More
ISTANBUL – United States Federal Reserve Governor Christopher Waller said Wednesday that interest rates may go higher for longer than expected as the central bank continues to fight inflation."Inflation remains quite elevated, and so more needs to be done," he said at the 2023 Arkansas State... Read More
CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon continued to escalate to 9.8 percent in January 2023 from 9.0 in December 2022, based on the latest report of the Philippine Statistics Authority-Regional Statistical Services Office III (PSA-RSSO III).This is the highest... Read More
MANILA – Public and private sectors are encouraged to implement budget tagging on their initiatives related to Sustainable Development Goals (SDGs) to monitor the country's investments in achieving the SDG targets.During the Partners’ Event and Knowledge Café of the Joint Program... Read More
MANILA – The Department of Trade and Industry (DTI) has identified four key areas which policies and programs should be intensified to curb the rising inflation.In a statement Wednesday, DTI said it will focus on monitoring consumer prices, improving the country’s logistics and supply... Read More
MANILA – The local bourse’s main index recovered on Wednesday after Federal Reserve Chair Jerome Powell noted the decelerating United States consumer price index (CPI), while the peso gained to a greenback.The Philippine Stock Exchange index (PSEi) rose by 0.61 percent, or 41.82 points,... Read More
MANILA – The rates of both the seven- and 14-day term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) rose on Wednesday.Data released by the central bank showed that average rate of the one-week TDF increased to 6.3480 percent and that of the two-week facility to 6.3654... Read More
SUBIC BAY FREEPORT – The Bureau of Customs-Port of Subic has made a good start this year as it recorded a PHP3.98 billion revenue collection in January, exceeding its target by 4.46 percent.In her report, Port of Subic District Collector Maritess Martin said on Wednesday that the Port of Subic... Read More
MANILA – An economist forecasts continued increase in the country’s dollar reserves, which improved to USD99.72 billion last January compared to the previous month’s level.Data released by the Bangko Sentral ng Pilipinas (BSP) Tuesday night showed that the January 2023 gross... Read More
MANILA – The Philippine Statistics Authority (PSA) reported Wednesday that the country’s unemployment rate stood at 4.3 percent in December 2022.PSA Undersecretary Dennis Mapa said unemployment rate in December 2022 is the second lowest since April 2005, only behind the November 2022... Read More
MANILA – Finance authorities are optimistic about the achievement of the Bureau of Internal Revenue’s (BIR) PHP2.6 trillion revenues this year given the continued recovery of the domestic economy.In an interview after the BIR’s Tax Campaign kickoff at the Philippine International... Read More
MANILA – The Bureau of the Treasury (BTr) awarded PHP162.18 billion worth of 5.5-year retail treasury bond (RTB), more than five times the PHP30-billion offer, due to strong demand during the rate-setting auction on Tuesday. The coupon rate of the debt paper is at 6.125 percent while the... Read More
CITY OF SAN FERNANDO, Pampanga – The provincial government of Pampanga collected some PHP88.29 million from its quarry industry in January this year, the highest it has recorded.The total revenues from sand and gravel are now at PHP2.056 billion since July 2019.Governor Dennis Pineda... Read More
IZMIR – Oil prices rose on Tuesday on sustained expectations of recovering demand in the world's largest oil importer, China, as well as supply concerns following two major earthquakes in Türkiye.International benchmark Brent crude traded at $82.14 per barrel at 09:48 a.m. local time... Read More
MANILA – The local bourse’s main index declined anew on Tuesday partly due to acceleration in domestic inflation rate to 14-year high of 8.7 percent last January, and this performance was mirrored by the peso. The Philippine Stock Exchange index (PSEi) shed 0.80 percent, or 55.35... Read More
MANILA – The Philippine Economic Zone Authority (PEZA) and the Board of Investments (BOI) have finally resolved the classification of ecozone logistics service enterprises (ELSEs) as “export enterprises” that could benefit from the perks under the Strategic Investment Priority Plan... Read More
LUCENA CITY – This city's One Town, One Product (OTOP), the gourmet "tinapa" or smoked fish is the top-selling product at the Kalakal-Quezon shop located at the Grand Central Terminal here.The store, a project of the Department of Trade and Industry (DTI) in the province, opened last week.In... Read More
MANILA – The country’s inflation rate surged further to a fresh 14-year high of 8.7 percent in January, exceeding expectations and its likely peak in December 2022 but Finance Secretary Benjamin Diokno targets deceleration starting this quarter partly due to declining oil... Read More
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