Business

BSP maintains policy rates

BSP maintains policy rates

December 14, 2023, 6:41 pm

MANILA – The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) kept the policy rates unchanged on Thursday. "After its meeting on monetary policy today, the Monetary Board decided to keep the BSP’s Target Reverse Repurchase (RRP) Rate unchanged at 6.50 percent. Accordingly, the interest… Read More

NDC eyes investing P31-B in 18 projects

NDC eyes investing P31-B in 18 projects

December 14, 2023, 2:47 pm

MANILA – The National Development Company (NDC), the investment arm of the Department of Trade and Industry (DTI), is evaluating 18 projects to invest into. NDC General Manager Anton Mauricio said Thursday that the state-owned enterprise is eyeing to invest around PHP30.72 billion for these… Read More

PTTC, food firm partner to help retirees engage in entrepreneurship

PTTC, food firm partner to help retirees engage in entrepreneurship

December 13, 2023, 8:30 pm

MANILA – The Philippine Trade Training Center (PTTC) of the Department of Trade and Industry (DTI) and listed food manufacturing company Monde Nissin Corp. have partnered to equip the firm’s retirees with entrepreneurial skills that will help them transition into their careers. On Wednesday,… Read More

PSEi sheds, peso weakens to P56-level Wednesday

PSEi sheds, peso weakens to P56-level Wednesday

December 13, 2023, 8:09 pm

MANILA – Both the local shares and currency finished the day with losses. The benchmark Philippine Stock Exchange index (PSEi) shed 36.65 points at 6,255.74, with All Shares also down by 14.32 points at 3,339.14. All counters closed in the red territory except for Services, which inched up by… Read More

Romblon seen sustaining economic growth momentum

Romblon seen sustaining economic growth momentum

December 13, 2023, 5:28 pm

ROMBLON, Romblon – The provincial economy is expected to have sustained its growth momentum in 2023, if its performance last year gives any indication, according to the Philippine Statistics Authority (PSA). In an interview on Wednesday, Jonny Solis, chief statistical specialist at PSA Romblon,… Read More

Gov't ramps up efforts to mitigate impact of El Niño

Gov't ramps up efforts to mitigate impact of El Niño

December 13, 2023, 5:16 pm

MANILA – The government is ramping up efforts to mitigate the impacts of El Niño, the National Economic and Development Authority (NEDA) said on Wednesday. "We have been mobilizing for the anticipated impacts of the upcoming El Niño through a comprehensive, coordinated, science-based approach… Read More

NEDA optimistic on hitting 6% economic growth for 2023

NEDA optimistic on hitting 6% economic growth for 2023

December 13, 2023, 4:15 pm

MANILA – The National Economic and Development Authority (NEDA) is optimistic that the lower end of the government's economic growth target for 2024 and 2025 will still be attained despite headwinds. "In the face of many domestic and international challenges, we've effectively implemented the… Read More

BOI gives green lane endorsement to P3.4-B vegetables, dairy projects

BOI gives green lane endorsement to P3.4-B vegetables, dairy projects

December 13, 2023, 2:21 pm

MANILA – Two agriculture projects of Metro Pacific Investments Corp. (MPIC) have received green lane certificate of endorsement from the Board of Investments’ (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI), the investment promotion agency said on Wednesday. These projects are… Read More

DTI asks retailers to adhere to Noche Buena price guide

DTI asks retailers to adhere to Noche Buena price guide

December 12, 2023, 7:34 pm

MANILA – The Department of Trade and Industry (DTI) called on retailers to adhere to the price guide on Noche Buena items after it received reports of prices higher than those set by manufacturers. DTI Secretary Alfredo Pascual met with manufacturers on Dec. 11 after reports that the prices of… Read More

North Negros city adopts electronic biz registration, payment system

North Negros city adopts electronic biz registration, payment system

December 12, 2023, 6:12 pm

BACOLOD CITY – The City of San Carlos in Negros Occidental has gone digital to make permit processing and licensing convenient for local businesses. The northern Negros city led by Mayor Renato Gustilo is implementing the electronic Business One-Stop Shop (eBOSS) platform with an integrated… Read More

ADB OKs $2.1-B financing for Bataan-Cavite Interlink bridge

ADB OKs $2.1-B financing for Bataan-Cavite Interlink bridge

December 12, 2023, 5:50 pm

MANILA – The Asian Development Bank (ADB) has approved a USD2.1-billion financing for the construction of a 32.15-kilometer bridge that will connect Bataan and Cavite. In a statement on Tuesday, the ADB said the Bataan–Cavite Interlink Bridge (BCIB) Project will complete the transport loop… Read More

Trade deficit up 26% in October

Trade deficit up 26% in October

December 12, 2023, 1:48 pm

MANILA – The country's trade deficit went up by 26 percent in October this year, data from the Philippine Statistics Authority (PSA) showed. In a report released on Tuesday, the PSA said trade deficit during the month amounted to USD4.174 billion, higher than last year's USD3.313 billion. Total… Read More

Shares, peso close weak Monday

Shares, peso close weak Monday

December 11, 2023, 7:24 pm

MANILA – Both local shares and the currency finished the first trading day of the week with losses on domestic and foreign economic development. The Philippine Stock Exchange index shed 6.48 points to 6,228.29, with the broader All Shares also falling 1.93 points to 3,327.65. Philstock… Read More

Gov't spent 98% of over P5.2-T 2023 budget, says DBM

Gov't spent 98% of over P5.2-T 2023 budget, says DBM

December 11, 2023, 7:15 pm

ILOILO CITY – The national government has spent roughly 98 percent of its PHP5.268 trillion budget for this year, according to Budget Secretary Amenah Pangandaman. At the final leg of this year's Philippine Economic Briefing held at the Courtyard by Marriott Hotel here on Monday, Pangandaman… Read More

Gov't collects P801-B from fuel marking

Gov't collects P801-B from fuel marking

December 11, 2023, 6:47 pm

MANILA – The government has so far collected more than PHP800 billion from its fuel-marking program, data released by the Bureau of Customs (BOC) showed. BOC Commissioner Bienvenido Rubio said revenues from the fuel-marking program amounted to PHP801.55 billion, which is equivalent to 70.48… Read More

Big-time oil price rollback set Dec. 12

Big-time oil price rollback set Dec. 12

December 11, 2023, 6:21 pm

MANILA – Oil companies will slash pump prices by more than PHP1 per liter starting 12:01 a.m. Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti Petro Gazz, Phoenix Petroleum, PTT, Seaoil and Shell announced a gasoline price rollback by PHP1.60 per liter and PHP1.85 per liter on diesel.… Read More

Meralco cuts electricity rates for December

Meralco cuts electricity rates for December

December 11, 2023, 5:02 pm

MANILA – After three months of increasing power rates, the Manila Electric Company (Meralco) will finally slash electricity charges for December. In a statement Monday, the distribution utility said power rates dropped by PHP0.7961 per kilowatt hour (kWh), bringing down electricity charges to… Read More

Strong revenues earn GSIS P80B in Jan.-Oct '23

Strong revenues earn GSIS P80B in Jan.-Oct '23

December 11, 2023, 2:53 pm

MANILA – The Government Service Insurance System (GSIS) announced it has earned PHP80 billion in the first 10 months of the year which is 117 percent higher than the same period last year. In a news release on Sunday, GSIS president and general manager Wick Veloso said the improved… Read More

BOC hopeful on hitting 2024 collection goal

BOC hopeful on hitting 2024 collection goal

December 10, 2023, 9:00 pm

MANILA – The Bureau of Customs (BOC) is hopeful that it will meet its collection target next year. Under the proposed Budget of Expenditures and Sources of Financing (BESF) for 2024, the BOC is tasked to collect more than PHP1 trillion.  Commissioner Bienvenido Rubio said he is banking on… Read More

Biz groups eye creation of over 1M new jobs in 2024

Biz groups eye creation of over 1M new jobs in 2024

December 8, 2023, 8:32 pm

MANILA – The Employers Confederation of the Philippines (ECOP) and affiliated business organizations are targeting to create over a million additional jobs in 2024 as part of their joint commitment to support the Marcos administration’s employment agenda. ECOP president Sergio Ortiz-Luis, Jr.… Read More