Business

Investors urged to bankroll microgrid dev’t in PH

Investors urged to bankroll microgrid dev’t in PH

June 3, 2024, 2:58 pm Updated on June 3, 2024, 3:33 pm

MANILA – Senator Win Gatchalian on Monday encouraged investors to provide capital for the development of microgrids in the country, especially in off-grid areas, to help achieve full electrification. “Electrification is usually followed by economic development and the government in partnership… Read More

PH manufacturing records growth anew in May

PH manufacturing records growth anew in May

June 3, 2024, 2:17 pm

MANILA – The Philippine manufacturing sector continued to post a positive performance in May 2024, the S&P Global Manufacturing Purchasing Managers’ Index (PMI) reported Monday. The country’s manufacturing score last month recorded an index higher than the neutral score of 50, at 51.9.… Read More

Mixed oil price adjustments set Tuesday

Mixed oil price adjustments set Tuesday

June 3, 2024, 11:44 am

MANILA – Oil companies will implement mixed price adjustments starting 12:01 a.m. on Tuesday. In separate advisories, Cleanfuel, Petro Gazz, Seaoil, and Shell said they would slash gasoline prices by PHP0.90 per liter while increasing diesel prices by PHP0.60 per liter. Seaoil and Shell will… Read More

13 more added to P3-T worth of PPP projects

13 more added to P3-T worth of PPP projects

June 2, 2024, 4:58 pm

MANILA – The Public-Private Partnership (PPP) Center said 134 projects worth PHP3.03 trillion are in the pipeline for undertaking between the government and private sector. Data released by the PPP Center over the weekend showed that 13 unsolicited proposals were recently added to the list of… Read More

PEZA to revive Albay’s coastal village as global value chain player

PEZA to revive Albay’s coastal village as global value chain player

May 31, 2024, 8:10 pm

MANILA – The Philippine Economic Zone Authority (PEZA) aims to propel economic activities in a coastal village in Libon, Albay through economic zone development. PEZA Director General Tereso Panga on May 24 visited Barangay Pantao, an “astillero” or a shipyard during the galleon trade, which… Read More

PSEi ends 5-day shedding, peso strengthens

PSEi ends 5-day shedding, peso strengthens

May 31, 2024, 7:40 pm

MANILA - Both the local bourse and currency improved their performance at the end of the week. The Philippine Stock Exchange index (PSEi) on Friday went up by 0.96 percent to 6,433.10, with All shares improving by 1.12 percent to 3,463.87 level. Philstock Financials, Inc. research associate Claire… Read More

Bank lending up, domestic liquidity slows in April

Bank lending up, domestic liquidity slows in April

May 31, 2024, 5:39 pm

MANILA – Bank lending of universal and commercial banks (U/KBs) grew at a faster pace in April this year while domestic liquidity growth slowed, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data released by the BSP on Friday showed that banks' outstanding loans, excluding… Read More

CREATE law attracts P1.1-T investments

CREATE law attracts P1.1-T investments

May 31, 2024, 3:52 pm

MANILA – Big-ticket investments approved under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act has already reached more than PHP1 trillion as of April this year. In a Facebook post on Friday, the Department of Finance (DOF) said these big-ticket projects are expected to… Read More

Meralco unit to energize PH's largest data center

Meralco unit to energize PH's largest data center

May 31, 2024, 3:14 pm

MANILA -- Meralco Energy, Inc. (MSERV), a unit of the Manila Electric Company, will energize the country's largest hyperscale data center ST Telemedia Global Data Center (STT GDC Philippines). In a statement Friday, MSERV said the partnership will push for innovation and technological advancement… Read More

BSP sees May 2024 inflation at 3.7% to 4.5%

BSP sees May 2024 inflation at 3.7% to 4.5%

May 31, 2024, 1:20 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) expects the May 2024 inflation to settle within the 3.7 to 4.5 percent range. "Continued increases in electricity rates and vegetable prices alongside recent peso depreciation are the primary sources of upward price pressures for the month," the BSP… Read More

DTI-RISE UP financing program vs. loan sharks benefit MSMEs

DTI-RISE UP financing program vs. loan sharks benefit MSMEs

May 30, 2024, 8:21 pm

DUMAGUETE CITY – Micro, small and medium enterprises (MSMEs) in Negros Oriental are now benefitting from an affordable financing program of the Department of Trade and Industry (DTI) aimed at combating “loan sharks” charging high interest rates. “The RISE UP (Resilient, Innovative, and… Read More

Producer price index continues to decline in April

Producer price index continues to decline in April

May 30, 2024, 6:36 pm

MANILA – The producer price index (PPI) for manufacturing continued to decline in April this year, but at a slower pace than the recorded decline in March. In a report released on Thursday, the Philippine Statistics Authority (PSA) said the PPI for manufacturing declined by 0.8 percent in April,… Read More

PEZA inks deal with Megaworld for P818-M Arcovia City

PEZA inks deal with Megaworld for P818-M Arcovia City

May 30, 2024, 6:35 pm

MANILA – The Philippine Economic Zone Authority (PEZA) on Thursday said it signed a deal with Megaworld Corp. last May 21 for the PHP817.5-million IT park Arcovia City in Ugong, Pasig City. The registration agreement was signed by PEZA Director General Tereso Panga and Megaworld executive vice… Read More

PSEi down, peso falls to 18-month low

PSEi down, peso falls to 18-month low

May 30, 2024, 6:34 pm

MANILA – The local stock market declined on Thursday, while the peso closed at its lowest level since Nov. 3, 2022. The Philippine Stock Exchange index (PSEi) went down by 39.66 points, closing at 6,371.75, while the broader All Shares also declined 26.17 points to 3,425.57. "The local market… Read More

Recto: Agri-trucks toll fee hike exemption to cut food inflation

Recto: Agri-trucks toll fee hike exemption to cut food inflation

May 30, 2024, 12:39 pm

MANILA – Department of Finance (DOF) Secretary Ralph Recto said the exemption from toll fee hikes for trucks carrying agricultural goods would help reduce food inflation and ensure the stability of food prices. “I thank our government agencies as well as our partner toll expressway… Read More

ARTA hikes target number of LGUs fully compliant with eBOSS

ARTA hikes target number of LGUs fully compliant with eBOSS

May 30, 2024, 8:52 am

MANILA – Anti-Red Tape Authority (ARTA) Director General Ernesto Perez said the agency targets 200 local government units (LGUs) to fully comply with the electronic Business One-Stop Shop (eBOSS) system this year. During the Doing Business Forum of the German-Philippines Chamber of Commerce and… Read More

PSEi tracks Asian indices, peso weakens

PSEi tracks Asian indices, peso weakens

May 29, 2024, 6:34 pm

MANILA – The local stock barometer dropped on Wednesday, tracking other Asian stock markets, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) fell to 6,411.41 level, shedding 89.93 points, or 1.38 percent. All Shares also declined by 0.95 percent to 3,451.74. “(T)he… Read More

CIAC pitches Clark as aerospace hub

CIAC pitches Clark as aerospace hub

May 29, 2024, 6:16 pm

MANILA – The Clark International Airport Corp. (CIAC) on Wednesday said it has promoted Clark as an aerospace hub to investors in the global aerospace industry. CIAC president Arrey Perez pitched Clark as an aerospace hub at the 9th International Aerospace Innovation Forum organized by Aéro… Read More

PH adopts historic WIPO treaty

PH adopts historic WIPO treaty

May 29, 2024, 5:30 pm

MANILA – The Intellectual Property Office of the Philippines (IPOPHL) on Wednesday shared that the Philippines has joined 193 other member countries of the World Intellectual Property Organization (WIPO) in adopting a landmark treaty on intellectual property (IP), genetic resources (GR), and… Read More

PH economy forecast to grow faster in Q2

PH economy forecast to grow faster in Q2

May 29, 2024, 5:30 pm

MANILA – Philippine economic growth is expected to accelerate beginning in the second quarter of the year, driven by ramped up government spending, easing inflation, and high employment level. In the May issue of The Market Call released on Wednesday, the First Metro Investment Corporation… Read More