Diokno: Boost agri output to address food-related inflation

MANILA – Department of Finance (DOF) Secretary Benjamin Diokno on Tuesday cited the importance of ensuring increased food production in the country to address food-related inflation, saying importation is the last resort to boost supply. In a briefing, Diokno recognized the need to improve... Read More

Stocks dip ahead of inflation data; peso strengthens

MANILA – Investors turned risk-averse on Tuesday ahead of the release of the March inflation rate, resulting in the negative close of the main equities index, but the peso gained against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.89 percent, or 57.95 points, to 6,472.04... Read More

DOE urges firms to participate in green energy auction in June

MANILA – The Department of Energy (DOE) has urged potential suppliers to participate in the next round of the Green Energy Auction (GEA-2) this June.“The issuance of the NOA (notice of auction) triggers the series of activities toward the target GEA-2 in June 2023,” the DOE said in... Read More

Intellectual property registration up by 3.7% in 2022

MANILA – The Intellectual Property Office of the Philippines (IPOPHL) reported that the registration of intellectual property (IP) in 2022 increased by 3.7 percent to 48,259 filings from 46,558 applications in 2021.In a statement, IPOPHL said the IP filings last year is a record high for the... Read More

ADB keeps 6% growth forecast for PH this year

MANILA – The Asian Development Bank (ADB) keeps its 6 percent growth outlook for the Philippine economy this year but sees a faster expansion of 6.2 percent for 2024, citing the expected slowdown of domestic inflation. In a briefing on Tuesday, ADB Philippines Country Director Kelly Bird said... Read More

Meralco hikes de-loading capacity to 616 MW

MANILA – The Manila Electric Company (Meralco) is expanding its interruptible load program (ILP) capacity to 616 megawatts (MW) from the current 560 MW.This, as Meralco secured another commitment from Ayala Property Management Corp. (APMC) for an additional de-loading capacity of 56... Read More

Stocks up ahead of Holy Week holidays; peso slips

MANILA – The local bourse’s main index rose on Monday ahead of the Holy Week holidays but the peso weakened against the United States dollar. The Philippine Stock Exchange index (PSEi) rose by 0.47 percent, or 30.31 points, to 6,529.99 points. All Shares followed with a jump of 0.14... Read More

Select Metrobank branches open during holidays

MANILA – Several branches of Metrobank will be open on a shortened period during the Holy Week’s non-working days and on the Araw ng Kagitingan (Day of Valor) holiday. In an advisory on Monday, the bank said clients may check the branches that are open on April 6, 8 and 10 through... Read More

Benguet Corp. posts P4.03-B consolidated revenues

MANILA–Listed miner Benguet Corporation (BC) registered consolidated revenues of PHP4.03 billion in 2022, up by 5 percent from PHP3.84 billion in the previous year.In a statement issued on Monday, the company said its revenues were generated mainly from nickel, gold and lime sales.It sustained... Read More

Economist cites need for new tax measures to lift revenues

MANILA – An economist has cited the immediate need for additional tax reform measures to boost government revenues, which contracted in February. Data released by the Bureau of the Treasury on Monday showed that government revenues went down by 0.25 percent in the second month this year to... Read More

Moody’s Analytics sees PH’s March inflation at 8.4%

MANILA – Moody’s Analytics expects domestic inflation rate to have slowed to 8.4 percent last March from 8.6 percent in February partly on the decline of global oil prices and recovery of crop harvests. Moody’s Analytics economist Sarah Tan told the Philippine News Agency (PNA)... Read More

Oil firms hike prices this Holy Week

MANILA – Fuel prices will increase this Holy Week starting 12:01 a.m. Tuesday.In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell and Unioil said they will hike gasoline prices by PHP1.40 per liter and diesel by PHP0.50 per liter.Caltex, Seaoil and Shell will also raise... Read More

PH manufacturing score in March 3rd highest in ASEAN

MANILA – The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) reported that the country’s manufacturing sector continued to post improvement in March with a score of 52.5, the third highest in Association of Southeast Asian Nations (ASEAN) region.In its... Read More

Denmark’s leading wind energy firms eyeing opportunities in PH

MANILA – Danish Ambassador to the Philippines Franz-Michael Mellbin said the liberalization of the renewable energy (RE) sector in the Philippines has attracted the interests of Denmark’s largest wind energy companies.On the sidelines of a recent event at the Department of Energy (DOE),... Read More

Envoy: UK’s new trading scheme to cover more tariff lines

MANILA – United Kingdom’s Developing Countries Trading Schemes (DCTS), a new trading scheme launched by the British government, will cover more tariff lines than the current UK Generalised Scheme of Preferences (GSP) and the European Union GSP Plus (EU GSP+), the British envoy here... Read More

PSBank: Tap mobile, online platforms during the holidays

MANILA – PSBank on Friday advised its clients to tap the bank's online and mobile channels, especially during the holidays for the Holy Week and the Araw ng Kagitingan (Day of Valor).All branches of PSBank nationwide will be closed from April 6 to 7 (Maundy Thursday and Good Friday) and on... Read More

Big-time rollback on LPG prices for April

MANILA – Oil companies have implemented a big-time price rollback on liquefied petroleum gas (LPG) starting April 1.In separate advisories, Petron and Phoenix LPG said they slashed LPG prices by PHP9.20 per kg., while Solane said it cut LPG prices by PHP9.18 per kg.The adjustments translated... Read More

GoTyme Bank offers 5% interest rate on savings product

MANILA –Digital financial institution GoTyme Bank now offers a five percent annual savings interest rate through its Go Save product.Nate Clarke, GoTyme Bank President and Chief Executive Officer (CEO), in a virtual briefing, said that aside from the high interest rate on their savings... Read More

PH stocks snap 3-day rally; peso ends sideways

MANILA – The local bourse’s main index reversed its path on Friday and ended in the negative territory but the peso finished the week sideways against the United States dollar. The Philippine Stock Exchange index (PSEi) declined by 2.18 percent, or 145.07 points, to 6,499.68 points. All... Read More

BSP's 28-day bill rate up anew ahead of holidays

MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bill rose on Friday and the high investors demand resulted in oversubscription.Data released by the BSP showed that the average rate of the debt paper inched up to 6.8199 percent from 6.7650 percent during the auction... Read More