Business
Investment pledges generate 202K jobs: PBBM
July 22, 2024, 6:37 pm
MANILA – President Ferdinand R. Marcos Jr., in his 3rd State of the Nation Address (SONA) at the Batasang Pambansa on Monday, said the current investment commitments in the country would create more than 202,000 jobs for Filipinos. “A substantial number of investment pledges have already… Read More
PBBM boasts LuzViMin grid interconnectivity
July 22, 2024, 6:21 pm
MANILA – The interconnectivity of power grids of the three major island groups is touted as one of the critical achievements of the Marcos administration. President Ferdinand R. Marcos Jr. said in his third State of the Nation Address (SONA) Monday that his administration was able to fulfill the… Read More
Marcos admin expanding free trade deals
July 22, 2024, 4:04 pm
MANILA – The Marcos administration continues to diversify its trade partners by forging free trade agreements (FTAs) with various countries. Department of Trade and Industry (DTI) Undersecretary for International Trade Group Allan Gepty said in a recent interview that the country remains on… Read More
Gov't raises P20-B from T-bills auction
July 22, 2024, 2:59 pm
MANILA – The Bureau of the Treasury (BTr) raised PHP20 billion from the Treasury bills (T-bills) auction on Monday. The 91-, 182-, and 364-day T-bills fetched average rates of 5.743 percent, 5.991 percent and 6.081 percent, higher than last week's average auction yield. Last week, the average… Read More
Poverty rate falls to 15.5% in 2023
July 22, 2024, 2:15 pm
MANILA – The country's poverty rate fell to 15.5 percent in 2023 from 18.1 percent in 2021, the Philippine Statistics Authority (PSA) said on Monday. The poverty incidence during the period surpassed the government's 16 percent to 16.4 percent target in the Philippine Development Plan 2023-2028.… Read More
Diesel, kerosene prices down; gasoline up
July 22, 2024, 2:00 pm
MANILA – Oil firms announced mixed price adjustments starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they would increase gasoline prices by 10 centavos per liter while decreasing diesel prices by 40 centavos per liter. Caltex, Seaoil, and… Read More
2 of 10 Aurora eco zone projects left undone near completion
July 21, 2024, 6:09 pm
MANILA — The Aurora Pacific Economic Zone and Freeport Authority (APECO) will inaugurate this month two of 10 projects that were not finished by the past administration. APECO president and chief executive officer Gil Taway IV told the Philippine News Agency (PNA) that it will soon finish… Read More
DTI approves P2.7-T investment projects under PBBM admin
July 21, 2024, 3:41 pm
MANILA – Investment promotion agencies (IPAs) under the Department of Trade and Industry (DTI) logged over PHP2.73 trillion worth of projects between July 2022 to May 2024.The pledges came from 1,090 projects that registered with DTI-attached IPAs Board of Investments (BOI) and Philippine… Read More
PH data center seen to reach 516MW by 2028
July 19, 2024, 9:05 pm
MANILA — The country is expected to have installed a 516-megawatt capacity of data centers by 2028, Fitch Solutions unit BMI said. In its commentary released to the press on Friday, BMI said there were over 400 MW of committed data center capacity from companies over the past 10 months.… Read More
Japanese cement manufacturer inaugurates P12.8-B plant in Cebu
July 19, 2024, 6:33 pm
MANILA – Japanese cement manufacturer Taiheiyo Cement Philippines, Inc. (TCPI) inaugurated its PHP12.8 billion plant in San Fernando, Cebu that will boost the local production and reduce the country’s reliance on imports. On Friday, the Department of Trade and Industry (DTI) said Secretary… Read More
BIR raids 2 QC warehouses with over P700-M ethyl alcohol tax liability
July 19, 2024, 6:20 pm
MANILA – The Bureau of Internal Revenue (BIR) confiscated on Friday 390,000 liters of ethyl alcohol from two warehouses in Balintawak, Quezon City, with an estimate unpaid excise taxes above PHP700 million. "The PHP700 million lost in public funds due to the smuggling or non-payment of excise… Read More
PSEi closes slightly below 6,800 mark; peso stays flat
July 19, 2024, 6:08 pm
MANILA – The local stock market ended the last trading day of the week at slightly below the 6,800 level, while the peso closed almost unchanged. The Philippine Stock Exchange index (PSEi) closed at 6,791.69, up by 86.68 points, while the broader All Shares also rose 24.97 points to 3,627.83.… Read More
DTI suspends online selling of vape
July 19, 2024, 4:30 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said on Friday he has signed an administrative order (AO) that temporarily suspends the selling of all vape products in all e-commerce platforms. In a press briefing with trade reporters in Makati City, Pascual said the AO… Read More
PH posts $155-M balance of payments deficit in June
July 19, 2024, 3:33 pm
MANILA – The country's balance of payments (BOP) position recorded a lower deficit in June this year, the Bangko Sentral ng Pilipinas (BSP) said. Data released by the BSP on Friday showed that the BOP in June posted a deficit of USD155 million, down from the USD606 million deficit in June 2023.… Read More
MIC finalizes investment, risk management framework
July 19, 2024, 1:22 pm
MANILA — The Maharlika Investment Corp. (MIC) has finalized its investment and risk management framework and also secured a membership in the International Forum of Sovereign Wealth Funds (IFSWF), giving it authority to begin engaging with investors and gain access to tap global network of… Read More
Easing inflation to boost FMCG firm’s performance in PH
July 18, 2024, 7:44 pm
MANILA – Even multinational fast-moving consumer goods (FMCG) company Unilever is seen to benefit from the easing inflation in the country as this would boost consumer spending on such goods. Unilever Philippines Nutrition Business lead Marinelle Villanueva told reporters Thursday that the sales… Read More
Improving peso boosts index
July 18, 2024, 6:33 pm
MANILA – The improving peso against the US dollar boosted the local bourse to the 6,700 level on Thursday. The Philippine Stock Exchange index (PSEi) increased by 0.26 percent to 6,705.01, with All Shares also improving by 0.23 percent to 3,602.86 points. “The local market extended its climb… Read More
US exec: Nuke deal with PH to ‘stand multiple US administrations’
July 18, 2024, 6:29 pm
MANILA – A visiting official of the United States has assured the Philippines that the 123 Agreement, or the civil nuclear cooperation deal, could stand different administrations, especially with the US presidential elections in November. US Nuclear Regulatory Commission chair Christopher Hanson… Read More
Luzon grid under yellow alert anew
July 18, 2024, 9:56 am
MANILA – For two straight days, the Luzon grid has been placed under yellow alert anew following the derated capacity of SMC Consolidated Power Corp. (SCPC) Units 1 to 4. The National Grid Corporation of the Philippines (NGCP) announced Thursday that the Luzon grid is under yellow alert from 1… Read More
Young Pinoys urged to take electronics industry-related courses
July 17, 2024, 8:44 pm
MANILA – Amid the declining number of enrollees in certain engineering courses, stakeholders in the semiconductor and electronics industry have urged young Filipinos to explore career opportunities in this sector. In a press briefing in Makati City Wednesday, Department of Trade and Industry… Read More
