Business

ADB OKs $200-M loan for climate-resilient PH infra

ADB OKs $200-M loan for climate-resilient PH infra

December 8, 2023, 1:46 pm

MANILA – The Asian Development Bank (ADB) has approved a USD200 million loan to help the Philippines build high-quality, inclusive, climate-resilient, and low-carbon infrastructure. In a statement on Friday, the ADB said the second additional financing for the Infrastructure Preparation and… Read More

Bicol inflation rate eases to 4.5% in November

Bicol inflation rate eases to 4.5% in November

December 7, 2023, 8:54 pm

LEGAZPI CITY – The Philippine Statistics Authority (PSA) 5 (Bicol) reported on Thursday that the inflation rate in the region slowed down from 4.7 percent in October to 4.5 percent in November. In a press conference, Danilo Luceño, PSA-5 statistical operations and coordination division chief,… Read More

Shares shed on profit-taking, peso ends sideways ahead of long weekend

Shares shed on profit-taking, peso ends sideways ahead of long weekend

December 7, 2023, 8:13 pm

MANILA – Ending the shortened trading week, local shares shed on profit-taking while the peso closed sideways on Thursday. The Philippine Stock Exchange index (PSEi) finished all counters in the red, with the overall index down by 71.08 points to the 6,234.77 level, with All Shares also… Read More

Internet Transactions Law to boost consumer confidence in e-commerce

Internet Transactions Law to boost consumer confidence in e-commerce

December 7, 2023, 4:47 pm

MANILA – The Department of Trade and Industry (DTI) is confident that the newly enacted Internet Transactions Act (ITA) will drive activities in the digital economy as the law provides more protection to consumers when transacting online. DTI Secretary Alfredo Pascual expressed confidence that… Read More

BOC seizes P42.4-B smuggled goods

BOC seizes P42.4-B smuggled goods

December 7, 2023, 4:45 pm

MANILA – The Bureau of Customs (BOC) has seized PHP42.4 billion worth of smuggled goods from January to Nov. 24 this year. In a briefing on Wednesday, BOC Commissioner Bienvenido Rubio said this is double the more-than-PHP20 billion worth of smuggled goods seized in the same period last year.… Read More

Manufacturing sector grows in October

Manufacturing sector grows in October

December 7, 2023, 3:40 pm

MANILA – Factory output both in volume and value continued to grow in October, but at a slower pace than the recorded expansion in September, data from the Philippine Statistics Authority (PSA) showed. Results of the latest Monthly Integrated Survey of Industries (MISSI) released on Thursday… Read More

Rates of employment highest, unemployment lowest since April 2005

Rates of employment highest, unemployment lowest since April 2005

December 7, 2023, 12:45 pm

MANILA – The country's unemployment rate in October this year fell to its lowest, while employment rose to its highest since April 2005. Results of the Philippine Statistics Authority's (PSA) latest Labor Force Survey showed that the 4.2-percent unemployment rate during the month was down from… Read More

PSEi, peso almost flat Wednesday

PSEi, peso almost flat Wednesday

December 6, 2023, 7:52 pm

MANILA – Both the local bourse and currency closed almost flat on Wednesday. The benchmark Philippine Stock Exchange index (PSEi) ended the day slipping by 0.05 percent, or 3.10 points, to the 6,305.85 level. The broader All Shares also slipped by 0.01 percent, or 0.36 points, to 3,351.66… Read More

ADB OKs $450-M loan to boost PH Universal Healthcare Program

ADB OKs $450-M loan to boost PH Universal Healthcare Program

December 6, 2023, 7:50 pm

MANILA – The Asian Development Bank (ADB) on Wednesday approved a USD450-million policy-based loan to help the Philippines strengthen its health policy reforms. In a statement, the ADB said the amount will also be used to further improve Filipinos’ access to medicines and health services,… Read More

Filipinos favor excellent customer service over low prices

Filipinos favor excellent customer service over low prices

December 6, 2023, 7:01 pm

MANILA – More Filipinos are considering excellent customer service as a bigger factor to purchase goods and services, than cheaper prices, the 2024 Qualtrics Consumer Trends Report showed. Qualtrics reported that quality products and service (70 percent of the surveyed respondents) and customer… Read More

BOC exceeds November collection target

BOC exceeds November collection target

December 6, 2023, 6:20 pm

MANILA – The Bureau of Customs (BOC) said revenue collection for November exceeded its target by 1.5 percent. In a briefing on Wednesday, BOC Commissioner Bienvenido Rubio said that based on preliminary data, collection during the month amounted to PHP75.34 billion, higher than its revenue… Read More

Diokno: PPP Code ensures high-quality infra, services in PH

Diokno: PPP Code ensures high-quality infra, services in PH

December 6, 2023, 3:43 pm Updated on December 6, 2023, 6:04 pm

MANILA – Finance Secretary Benjamin Diokno on Wednesday said the newly-enacted Public-Private Partnership (PPP) Code of the Philippines will ensure the realization of high-quality infrastructure projects and services in the country. “The Department of Finance has been actively supporting this… Read More

Alternergy, Quezelco 1 partner to dispatch power from Alabat wind farm

Alternergy, Quezelco 1 partner to dispatch power from Alabat wind farm

December 6, 2023, 3:42 pm

MANILA – Renewable energy firm Alternergy Holdings Corp. has partnered with Quezon 1 Electric Cooperative Inc. (Quezelco 1) to dispatch clean power from Alternergy’s Alabat wind power. In a disclosure to the Philippine Stock Exchange Wednesday, Alternergy said it signed the cooperation… Read More

Legazpi expects more investments with electronic one-stop biz shop

Legazpi expects more investments with electronic one-stop biz shop

December 6, 2023, 3:18 pm

LEGAZPI CITY – More investments are expected to come here with the Electronic Business One-Stop Shop (eBOSS) being implemented by the city government here, which has resulted in ease of doing business. In an interview on Wednesday, Asuncion Viñas, chief of the Legazpi City Business Permit and… Read More

Subdued November inflation expected, but Christmas uptick possible

Subdued November inflation expected, but Christmas uptick possible

December 5, 2023, 8:36 pm

MANILA – The subdued 4.1 percent inflation figure in November did not come as a shock to economists and retailers alike, who noted the easing of price pressures in November. In an interview on Tuesday, Carlos Manapat, economics department chair at the University of Santo Tomas, said inflation… Read More

PCCI names new president

PCCI names new president

December 5, 2023, 7:14 pm

MANILA – The country’s largest business organization Philippine Chamber of Commerce and Industry (PCCI) has named SamgyeopMasarap chain of restaurants owner Enunina “Nina” Mangio as its new president. Mangio, along with the 20-member board of directors of PCCI, was elected last Dec. 1 and… Read More

Stocks up on lower inflation data; peso ends sideways

Stocks up on lower inflation data; peso ends sideways

December 5, 2023, 6:44 pm

MANILA – Local shares continued to close strong on Tuesday on last-minute bargain hunting due to lower inflation data, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) gained 24.58 points to close at 6,308.95. All Shares, likewise, went up 4.58 points to 3,352.02. "This… Read More

PH to leverage pact with UAE to lure investments

PH to leverage pact with UAE to lure investments

December 5, 2023, 6:36 pm

MANILA – Now that the Investment Promotion and Protection Agreement (IPPA) between Manila and Abu Dhabi is in full swing, the Board of Investments (BOI) aims to leverage the deal to lure investments from the United Arab Emirates (UAE). This, as Department of Trade and Industry (DTI) Secretary… Read More

PH to sustain strong economic growth: World Bank

PH to sustain strong economic growth: World Bank

December 5, 2023, 6:34 pm

MANILA – The World Bank on Tuesday said the Philippine economy is expected to continue to post strong growth but fully implementing key reforms to boost investments is crucial to sustain growth. "We anticipate that the Philippine economy will continue to exhibit strong performance in the next… Read More

BTr fully awards re-issued Treasury bonds

BTr fully awards re-issued Treasury bonds

December 5, 2023, 5:37 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the re-issued 10-year Treasury bonds (T-bonds). With a remaining term of nine years and eight months, the re-issued bond fetched an average rate of 6.224 percent, lower than the 6.781 percent when it was last re-issued Nov. 14.… Read More