Business

Thai cement manufacturer eyes PHP2-B plant in PH

Thai cement manufacturer eyes PHP2-B plant in PH

March 14, 2024, 3:57 pm

MANILA – Bangkok-based fiber cement manufacturer Shera is investing PHP2 billion in the Philippines, its first facility outside Thailand. At the building and construction exposition Worldbex 2024 in Pasay City Thursday, Shera country head Thunnop Jumpasri said the PHP2-billion construction plant… Read More

FSCC highlights continued vigilance as foreign market dev'ts unfold

FSCC highlights continued vigilance as foreign market dev'ts unfold

March 14, 2024, 3:54 pm

MANILA – The Financial Stability Coordination Council (FSCC) has cited the need for continued vigilance as market developments abroad may have an impact on the Philippines. In a statement on Thursday, the Bangko Sentral ng Pilipinas (BSP) said the FSCC, led by its Chairman and BSP Governor Eli… Read More

Batangas factory delivers 1st aircraft seats to Airbus

Batangas factory delivers 1st aircraft seats to Airbus

March 14, 2024, 3:51 pm

MANILA – The Tanauan City plant of aircraft parts maker Collins Aerospace has delivered its first seating shipment to Airbus. In a statement Thursday, the unit of the world’s largest aerospace and defense company RTX, said its delivery to Airbus will include its Meridian main cabin seat. The… Read More

DOST-Batangas helps MSMEs seeking to hit global market

DOST-Batangas helps MSMEs seeking to hit global market

March 14, 2024, 3:45 pm

LIPA CITY, Batangas – The Department of Science and Technology office in this province (DOST-Batangas) is calling on micro, small, and medium enterprises (MSMEs) to participate in its Small Enterprise Technology Upgrading Program (SETUP) so that they can avail of technologies that will help them… Read More

Industrial production posts strong decline in EU, eurozone in January

Industrial production posts strong decline in EU, eurozone in January

March 14, 2024, 2:25 pm

ISTANBUL – Industrial production dropped sharply in the European Union (EU) and eurozone in January, the 27-member bloc's statistical authority said on Wednesday. Production fell 6.7 percent in the euro area and 5.7 percent in the EU year-on-year in January, Eurostat said. Industrial production… Read More

Airbus eyes ‘Re-Horizon 3’; Siemens plans cancer care solutions in PH

Airbus eyes ‘Re-Horizon 3’; Siemens plans cancer care solutions in PH

March 13, 2024, 9:55 pm

MANILA – President Ferdinand R. Marcos Jr. had meetings with huge multinational companies in his official visit to Germany, including Airbus and Siemens. Department of Trade and Industry (DTI) Secretary Alfredo Pascual accompanied Marcos in his meetings with business executives in Berlin on… Read More

German RE firm eyes P56-B wind, solar projects in PH

German RE firm eyes P56-B wind, solar projects in PH

March 13, 2024, 8:22 pm

MANILA – Apart from the USD4 billion worth of investment deals presented to President Ferdinand R. Marcos Jr. during a business forum in Berlin, the Chief Executive has received a separate investment commitment of USD1.03 billion (PHP56 billion) from a German renewable energy (RE) firm. The… Read More

February inflation in Mimaropa region eases to 3.4%

February inflation in Mimaropa region eases to 3.4%

March 13, 2024, 8:20 pm

CALAPAN CITY, Oriental Mindoro – Headline inflation in the five-province Mimaropa region eased to 3.4 percent in February, down slightly from the 3.6 percent registered in the year’s opening month. In an interview on Wednesday, Ana Patricia Ramos, statistical specialist II at the Philippine… Read More

2 US firms earmark P44-B energy, telco investments in PH

2 US firms earmark P44-B energy, telco investments in PH

March 13, 2024, 6:24 pm

MANILA – Two American companies earmarked over PHP44 billion (USD800 million) for their energy and telecommunications infrastructure projects in the Philippines. The United States Department of Commerce announced Wednesday (Manila time) that New York-based investment firm KKR & Co., Inc. is… Read More

PSEi mirrors US market performance; peso moves sideways on Wednesday

PSEi mirrors US market performance; peso moves sideways on Wednesday

March 13, 2024, 5:55 pm

MANILA – The Philippine Stock Exchange index (PSEi) went up by 1.25 percent, taking cues from the US markets while the peso moved sideways on Wednesday. The PSEi closed at 6,965.51 while All Shares, likewise, went up 0.95 percent to 3,614.20. "The local bourse jumped by 85.92 points (1.25… Read More

Balisacan urges Congress to pass NEDA reorganization bill

Balisacan urges Congress to pass NEDA reorganization bill

March 13, 2024, 4:49 pm

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Wednesday urged lawmakers to pass the bill seeking the reorganization of the NEDA Secretariat. During the inaugural public hearing of the Economy, Planning, and Development Bill in the 19th Congress at the… Read More

US solar panel maker picks PH over China, Vietnam for new factory

US solar panel maker picks PH over China, Vietnam for new factory

March 13, 2024, 4:12 pm

MANILA – Silicon Valley-based Sol-Go Inc. has chosen to build its new solar panel factory in the Philippines over manufacturing hubs in the region like China and Vietnam. Sol-Go founder and chief executive officer Scott McHugo, who is part of the Presidential Trade and Investment Mission led by… Read More

BSP: National ID tops list of valid IDs

BSP: National ID tops list of valid IDs

March 13, 2024, 1:58 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) has directed banks and other BSP-supervised financial institutions (BSFIs) to place the Philippine identification card (PhilID) at the top of the list of acceptable valid IDs. In a statement on Wednesday, the BSP said all BSFIs must adopt enhanced… Read More

Swedish investors explore investment opportunities in PH

Swedish investors explore investment opportunities in PH

March 13, 2024, 12:42 pm

MANILA – Swedish investors have expressed interest in investing in the Philippines due to the country's robust macroeconomic fundamentals, improved business climate, and highly skilled workforce. In a statement Wednesday, the Department of Finance (DOF) said Finance Secretary Ralph Recto met… Read More

Oil prices up on escalating tensions in Middle East, demand outlook

Oil prices up on escalating tensions in Middle East, demand outlook

March 12, 2024, 9:01 pm

ANKARA – Oil prices increased on Tuesday due to rising conflict in the Middle East, while investors await several key supply and demand data sets from the Organization of Petroleum Exporting Countries (OPEC), as well as inflation data from the US Federal Reserve (Fed).  International benchmark… Read More

Shares, peso up slightly ahead of US inflation data

Shares, peso up slightly ahead of US inflation data

March 12, 2024, 8:27 pm

MANILA – Both local shares and the peso moved sideways, slightly improving in Tuesday’s trading. The Philippine Stock Exchange index (PSEi) inched up by 7.35 points, or 0.11 percent, to 6,879.59, with All Shares also increasing by 0.16 percent to 3,580.31. Sectoral indices were mixed with… Read More

White House, US biz: We choose to prioritize PH

White House, US biz: We choose to prioritize PH

March 12, 2024, 7:55 pm

MANILA – Since President Ferdinand R. Marcos Jr. began his term in 2022, the United States has sent a number of White House officials to the Philippines while American companies have committed to invest in the country. In a meeting with Filipino and American business leaders at a Makati City… Read More

BOC-Iloilo ready to cater to int'l container arrivals

BOC-Iloilo ready to cater to int'l container arrivals

March 12, 2024, 6:41 pm

ILOILO CITY – The Bureau of Customs (BOC) Port of Iloilo is ready to accommodate import and export container cargo services from different economic hubs of the world, District Collector Julius B . Premediles has said. Premediles, through the Iloilo City Government's Local Economic Development… Read More

BTr fully awards reissued T-bonds

BTr fully awards reissued T-bonds

March 12, 2024, 6:25 pm

MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued Treasury bonds during Tuesday’s auction. The T-bonds offering amounted to PHP30 billion but it was more than thrice oversubscribed as total tenders reached PHP96.071 billion. The 10-year debt securities hae a remaining term… Read More

Mild deflation in Ilocos Sur continues to benefit consumers

Mild deflation in Ilocos Sur continues to benefit consumers

March 12, 2024, 5:50 pm

LAOAG CITY – Consumers are benefiting from the four consecutive months of deflation in Ilocos Sur until February this year, authorities said Tuesday. The rate of price increases in Ilocos Sur has been in negative territory since November 2023, with the February level at negative 1.1 percent,… Read More