Business

Cebu lechon sellers urged not to ‘shortchange’ customers

CEBU CITY – The consumer protection unit of the Department of Trade and Industry-Central Visayas (DTI-7) on Thursday advised lechon business owners to make true to their obligation to deliver the size and quality as promised or agreed upon to avoid complaints that may spoil holiday... Read More

Stocks still up ahead of New Year; peso returns to P56 level

MANILA – The Philippine Stock Exchange index (PSEi) was slightly up on Wednesday's trading while the peso-dollar exchange rate was back to 56-level, tracking the performance of its Asian neighbors.PSEi ended this day gaining 1.64 points, or 0.03 percent, to 6,566.54, with all shares also... Read More

Market prefers short-term TDF: BSP

MANILA – The Bangko Sentral ng Pilipinas (BSP) said the market has preferred the 7-day term deposit facility (TDF) than the 14-day TDF during Wednesday's auction.The central bank awarded the PHP200-billion 7-day TDF in full after fetching bids higher than the offer amounting to PHP206.8... Read More

Gov’t to prop up economy, create more jobs with PPP projects

MANILA – The Marcos administration will focus on public-private partnerships (PPP) starting next year to create more jobs for Filipinos that would eventually lead to economic growth.“The administration of President Ferdinand R. Marcos Jr. is eyeing to pursue public-private partnerships... Read More

British firms urged to invest in PH’s next ‘frontier of dev’t’

MANILA – The Philippine government has urged British companies to explore investment opportunities in New Clark City in Central Luzon, the country’s first smart and green city.The Bases Conversion and Development Authority (BCDA) said in a statement Wednesday that it recently conducted... Read More

PSEi tracks Asian shares’ rise, peso weak after Christmas holiday

MANILA – The local stock barometer finished higher while the peso ended weaker against the United States dollar on Tuesday’s trading.The Philippine Stock Exchange index (PSEi) gained 23.87 points, or 0.37 percent, ending the day at 6,564.90.Philstocks Financial Inc. research assistant... Read More

Budget deficit eases by 3.7% in November: DOF

MANILA – The Department of Finance (DOF) reported on Tuesday the government’s budget deficit in November this year narrowed by 3.7 percent to PHP123.9 billion, or PHP5 billion from November 2021.This, as the growth in revenue collection exceeds expenditure last month.The DOF said revenue... Read More

DTI confiscates P64-M uncertified goods in Jan-Nov

MANILA – The Department of Trade and Industry (DTI) reported on Tuesday it confiscated a total of 219,693 uncertified products worth PHP64.5 million from January to November this year.The DTI said it intensified its market monitoring in cracking down on uncertified goods to protect consumers... Read More

PBBM keen on more ecozone dev’ts; OKs P91-B ecozone projects

MANILA – The Philippine Economic Zone Authority (PEZA) is optimistic on approving ecozone projects in the coming years as President Ferdinand R. Marcos targets ecozone development as a catalyst for growth in the country.This year, PEZA told the Philippine News Agency that the agency approved a... Read More

School shifts to clean energy

MANILA – Heeding the call of the government to shift to clean energy, OB Montessori Center is shifting to renewable energy by partnering with Spectrum for a 99-kilowatt peak (kWp) solar power project in Quezon City.In a statement Monday, Spectrum, a unit of Manila Electric Company (Meralco),... Read More

Gasoline, kerosene prices going up, lower for diesel

MANILA – Oil companies are set to adjust fuel prices by less than PHP1 per liter starting 12:01 a.m. Tuesday.In separate advisories, Caltex, Cleanfuel, Petro Gazz and Seaoil said they will slash diesel prices by PHP0.20 per liter while increasing gasoline prices by PHP0.95 per liter.Caltex and... Read More

15-day Malampaya maintenance work set in February '23

MANILA –A 15-day maintenance work is scheduled for the Malampaya Deep Water Gas-to-Power Project in February 2023 and the Department of Energy (DOE) said measures have been put in place for power plants to tap alternative sources.DOE, in a press release on Friday, said Malampaya power... Read More

PH stocks index slips as peso keeps footing vs. US dollar

MANILA –Fears for global slowdown given the tightening moves of central banks resulted to the decline of the Philippines’ main equities index on Friday but the peso ended sideways against the US dollar.The Philippine Stock Exchange index (PSEi) shed 0.55 percent, or 35.91 points, to... Read More

BSP's 28-day bill rates up anew

MANILA –Demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills remained strong although its rates continue to rise vis-à-vis the path of the central bank’s key policy rates.BSP on Friday kept the offer volume for the securities at PHP120 billion and bids reached... Read More

BSP cites framework reforms vis-a-vis climate change

MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla cited the importance of reassessing the regulatory framework to encourage additional lending towards climate change mitigation, as he stressed the impact of climate change on the economy.In his speech during the launch of the... Read More

New PH dev't plan to address economic scarring, inflation: NEDA

MANILA – Measures to address the impact of the pandemic and the elevated inflation rate have been outlined in the recently-approved Philippine Development Plan (PDP) 2023-28, a ranking National Economic and Development Authority (NEDA) executive said.In a Laging Handa briefing Thursday, NEDA... Read More

PSEi tracks Wall Street’s rise, peso almost flat

MANILA – Local shares rose on Thursday following the improvement in Wall Street while the local currency ended almost unchanged against the United States dollar.The Philippine Stock Exchange index (PSEi) rose by 0.86 percent, or 56.14 points, to 6,576.94 points.All Shares followed with a jump... Read More

Fitch sees challenges for banks in emerging markets next year

ISTANBUL – Fitch Ratings said Wednesday it expects challenges for banks in emerging markets during 2023 due to a difficult macroeconomic environment."Slower economic growth, high inflation and weaker currencies will impair some borrowers’ repayment capacity and pressure banks’... Read More

Gov’t allots P18.5M to boost sugar production in C. Visayas

CEBU CITY – An PHP18.5-million budget is allocated to bankroll training and livelihood activities for sugar workers in Central Visayas in a bid to preserve the industry amid challenges in technology and human resource, an official said on Thursday.Lilia A. Estillore, officer-in-charge of the... Read More

BOI-approved investments up by 11%; P1 trillion eyed for 2023

MANILA – Placements in renewable energy (RE) provided a big boost to the 11 percent annual jump in Board of Investments' (BOI) approved investments so far this 2022 as they aim for PHP1 trillion worth of investments by 2023.Data released by the Department of Trade and Industry (DTI) on... Read More