Business

PEZA, US trade, commercial office vow to strengthen investment drive

PEZA, US trade, commercial office vow to strengthen investment drive

February 27, 2024, 8:16 pm

MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga welcomed United States Trade and Commercial Section officials to the PEZA Office for a briefing on the current state of US investments in Philippine economic zones. The US officials were led by Economic Counselor… Read More

PSEi continues to fall on profit-taking, peso ends sideways

PSEi continues to fall on profit-taking, peso ends sideways

February 27, 2024, 8:10 pm

MANILA – The local bourse declined for two consecutive days as investors continued to take profit, while the Philippine peso closed sideways Tuesday. The Philippine Stock Exchange index (PSEi) finished this day’s trading lower by 30.82 points at 6,860.67, with All Shares also closing lower by… Read More

Wearable exporters seek gov’t interventions to stop job shedding

Wearable exporters seek gov’t interventions to stop job shedding

February 27, 2024, 7:53 pm

MANILA – The Confederation of Wearable Exporters of the Philippines (Conwep) is seeking government interventions to arrest jobs shedding in the industry. In a virtual briefing Tuesday, Conwep executive director Maritess Jocson-Agoncillo said the industry group has written President Ferdinand R.… Read More

Dubai-based logistics firm eyes investments in PH

Dubai-based logistics firm eyes investments in PH

February 27, 2024, 5:17 pm

MANILA – Dubai-based logistics company DP World has expressed interest in putting up a logistics hub and an industrial park in the Philippines, the Department of Trade and Industry (DTI) said Tuesday. In a statement, the DTI said Secretary Alfredo Pascual met with DP World Group Senior Vice… Read More

PH to adopt new investment-related agreement in WTO

PH to adopt new investment-related agreement in WTO

February 27, 2024, 1:25 pm

MANILA – The Philippines is among the 123 World Trade Organization (WTO) members, or three-fourths of the membership, that will adopt the Investment Facilitation for Development (IFD) Agreement that was finalized on the sidelines of the 13th WTO Ministerial Meeting in Abu Dhabi from Feb. 26 to… Read More

PH backs advancement of sustainable trade at WTO meet

PH backs advancement of sustainable trade at WTO meet

February 26, 2024, 10:00 pm

MANILA – The Philippines supports the endorsement of the Coalition of Trade Ministers on Climate’s Framework on Voluntary Actions to address trade-related climate challenges at the World Trade Organization (WTO) 13th Ministerial Conference (MC13) in the United Arab Emirates. The Department of… Read More

DTI lauds signing of ‘Tatak Pinoy’ law, to bolster industrialization

DTI lauds signing of ‘Tatak Pinoy’ law, to bolster industrialization

February 26, 2024, 9:21 pm

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual reaffirmed the department’s commitment to boost its science, technology and innovation-driven industrialization agenda with the enactment of Republic Act (RA) 11982 or the Tatak Pinoy Act on Monday. In line with… Read More

Meralco braces for higher demand during dry season, El Niño

Meralco braces for higher demand during dry season, El Niño

February 26, 2024, 8:59 pm

MANILA – Manila Electric Company (Meralco) executives said the firm has been preparing for higher electricity demand amid the nearing dry season and the ongoing El Niño.  In a press briefing at its headquarters in Pasig City on Monday, Meralco executive vice president and chief operating… Read More

Updating Constitution to help achieve PDP targets: NEDA

Updating Constitution to help achieve PDP targets: NEDA

February 26, 2024, 8:58 pm

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Monday underscored the importance of updating the economic provisions in the Constitution to attract more foreign direct investments (FDI) and help achieve the Philippine Development Plan (PDP) 2023-2028… Read More

Profit-taking snaps PSEi’s 4-day rally, peso weak

Profit-taking snaps PSEi’s 4-day rally, peso weak

February 26, 2024, 8:42 pm

MANILA – Both the local bourse and local currency finished Monday's trading weak, with shares falling below the 6,900 mark and the peso closing at 56-level. The Philippine Stock Exchange index (PSEi) declined by 21.72 points to 6,891.49 points, putting a stop to its four-day rally. All Shares… Read More

DOF vows to secure add'l funding for Metro Manila Subway

DOF vows to secure add'l funding for Metro Manila Subway

February 26, 2024, 7:55 pm

MANILA – Finance Secretary Ralph Recto said the third tranche of the loan agreement with the Japan International Cooperation Agency (JICA) for the Metro Manila Subway is expected to be secured by March this year. "The DOF (Department of Finance) is fully committed to securing the funding for… Read More

Oil firms to slash pump prices

Oil firms to slash pump prices

February 26, 2024, 5:49 pm

MANILA – Oil companies will implement price cuts on fuel products on Tuesday after big-time hikes last week. Starting 12:01 a.m., Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell, and Unioil will slash gasoline prices by PHP0.70 per liter and diesel by PHP0.95 per liter. Caltex, Seaoil, and… Read More

Gov’t to bid out 8 areas for coal, petroleum, hydrogen exploration

Gov’t to bid out 8 areas for coal, petroleum, hydrogen exploration

February 26, 2024, 4:51 pm

MANILA – The Department of Energy (DOE) launched on Monday eight predetermined areas (PDAs) for exploration, development, and production of indigenous energy sources across the country. Four of these are in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), three of which are for… Read More

Mixed results mark T-bills auction

Mixed results mark T-bills auction

February 26, 2024, 3:15 pm

MANILA – Results were mixed during Monday's Treasury bills (T-bills) auction as the Bureau of the Treasury (BTr) fully awarded bids for the 91- and 364-day T-bills while partially awarding the 182-day securities. The 91-day, 182-day and 364-day T-bills fetched an average rate of 5.710 percent,… Read More

Meralco to invest P100B for sustainability projects until 2030

Meralco to invest P100B for sustainability projects until 2030

February 26, 2024, 5:00 am

MANILA – The country’s largest distribution utility (DU) Manila Electric Company (Meralco) is investing PHP100 billion until 2030 for its projects that will ensure energy security while addressing the challenges posed by climate change. "With sustainability deeply embedded in Meralco's… Read More

Gov’t raises PHP584-B from Retail Treasury Bond offering

Gov’t raises PHP584-B from Retail Treasury Bond offering

February 26, 2024, 12:05 am

MANILA –The Bureau of the Treasury (BTr) raised a total of PHP584.86 billion through the issuance of the 30th tranche of Retail Treasury Bonds (RTBs). In a statement, the BTr said that of the PHP584.86 billion, PHP212.72 billion was awarded at the rate-setting auction on Feb. 13. The BTr said an… Read More

Chamber of Mines to fully implement sustainability initiative 

Chamber of Mines to fully implement sustainability initiative 

February 25, 2024, 12:21 pm

MANILA – The Chamber of Mines of the Philippines (COMP) said its 19 member-companies will fully implement the Towards Sustainable Mining (TSM) initiative, a global environmental, social, and corporate governance performance measurement standard.  In a statement over the weekend, COMP said TSM… Read More

Pascual to lead PH delegation in upcoming WTO MC13

Pascual to lead PH delegation in upcoming WTO MC13

February 24, 2024, 6:50 pm

MANILA – Department of Trade and Industry (DTI) Secretary Fred Pascual will lead the Philippine delegation in the 13th World Trade Organization (WTO) Ministerial Conference (MC13) in Abu Dhabi, United Arab Emirates on Feb. 26 to 29. Accompanying Pascual are officials from the House of… Read More

Social network firm Reddit files for initial public offering in US

Social network firm Reddit files for initial public offering in US

February 24, 2024, 5:31 pm

ISTANBUL – US-based social network firm Reddit filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE), which is a first for a social media company since 2019. "Our revenue for the years ended December 31, 2022 and 2023 was USD666.7 million and USD804.0 million,… Read More

PH index rallies on 4th day, peso weakens

PH index rallies on 4th day, peso weakens

February 23, 2024, 8:09 pm

MANILA – The Philippine Stock Exchange index (PSEi) continued its gains, ending the week on a four-day rally, while the peso closed weaker but did not fall to 56-level. The PSEi closed the week at 6,913.21, gaining 10.6 points, with All shares finishing higher by 6.29 points to 3,608.12 level.… Read More