Business
BSP: PESONet, Instapay services must be available even on holidays
March 22, 2024, 4:15 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Friday reminded BSP-Supervised Financial Institutions (BSFIs) offering PESONet and InstaPay services to ensure the availability of customer services during holidays and non-working days consistent with BSP Memorandum M-2023-011. The BSP issued… Read More
Shares returns to 6,900 mark as peso strengthens
March 21, 2024, 10:02 pm
MANILA – The local bourse and currency both improved on Thursday. The Philippine Stock Exchange index (PSEi) bounced back to the 6,900-level this day after gaining 47.27 points, or 0.69 percent, closing at 6,904.04. All Shares also improved by 9.65 points, or 0.27 percent, to 3,581.75 level. All… Read More
60-minute lights off for Earth Hour
March 21, 2024, 8:35 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla has enjoined the public to turn off non-essential lights for 60 minutes during the Earth Hour on March 23 from 8:30 p.m. to 9:30 p.m. The underlying mission of such act, no matter how small it is, and the call for cooperation will… Read More
Gov't signs PPP Code IRR
March 21, 2024, 6:17 pm
MANILA – Government officials on Thursday signed the implementing rules and regulations (IRR) of the Public-Private Partnership (PPP) Code. The IRR was signed by National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan, PPP Center Executive Director Cynthia Hernandez,… Read More
RE investments hike Aboitiz Group’s capex to PHP153-B
March 21, 2024, 6:02 pm
MANILA – The Aboitiz Group is investing big in renewable energy (RE) projects this year, hiking the company’s capital expenditure (capex) to PHP153 billion, or more than double last year’s PHP65 billion. The Aboitiz Group confirmed Thursday earlier reports that it earmarked PHP153 billion as… Read More
PH, Czech Republic eye agri, water management cooperation deal
March 21, 2024, 6:00 pm
MANILA – Visiting Czech Republic Agriculture Minister Marek Výborný said his office and the Department of Agriculture (DA) are targeting to have a cooperation deal in the areas of agriculture, water management and forestry. Výborný’s visit to Manila follows the state visit of President… Read More
DTI: Higher senior, PWD discount on basic goods order starts March 25
March 21, 2024, 5:20 pm
MANILA — The Department of Trade and Industry (DTI) targets to publish on Monday the new joint administrative order (JAO) on higher discount on basic necessities and prime commodities (BNPCs) for senior citizens and persons with disabilities (PWDs). In a press conference in Makati City Thursday,… Read More
Recto: PH records budget surplus in Jan-Feb 2024
March 20, 2024, 10:00 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto said preliminary data showed that the national government has posted a budget surplus in the first two months of the year. "As of today, for the last two months and a half, our revenues are 20 percent up year-on-year (YOY) while spending… Read More
New energy think tank launched
March 20, 2024, 7:57 pm
MANILA – The Center for Energy Research and Policy (CERP) was launched on Wednesday as a new think tank that aims to craft policy recommendations for the country’s energy sector. The CERP is spearheaded by lawyer Noel Baga, who worked as executive assistant at the Department of Energy (DOE)… Read More
PSEi takes cues from US markets, peso depreciated
March 20, 2024, 7:55 pm
MANILA – Philippine shares improved on Wednesday, reflecting United States’ markets, while the local currency dropped for the second trading day. The Philippine Stock Exchange index (PSEi) gained 0.12 percent, closing at 6,856.77, while All Shares increased by 0.16 percent to 3,572.10.… Read More
Next round of EU-PH FTA eyed in Q3 2024
March 20, 2024, 4:17 pm
MANILA – After the announcement of the Philippines and the European Union (EU) to resume negotiations for a bilateral free trade agreement, a senior government official said on Wednesday they are eyeing to resume the formal discussions by the third quarter of 2024. “We are targeting third… Read More
First BOI-registered shipyard in Leyte to fully operate mid-2024
March 20, 2024, 4:11 pm
MANILA – The Board of Investments (BOI) said Wednesday that the full operations of IMP Shipyard and Port Services, Inc. in Albuera, Leyte will start in the middle of this year. IMP is the first BOI-registered shipyard project in Leyte, which qualifies for the Tier I of the Strategic Investment… Read More
Taiwan pushes for more renewable energy investments
March 20, 2024, 1:02 pm
TAIPEI, Taiwan – Taiwan is encouraging cities worldwide to be proactive in promoting renewable energy investments to address the impact of climate change. This comes as the island’s government implements policies to reduce greenhouse gas emissions and transition towards environmentally… Read More
PH posts $196-M deficit in February
March 20, 2024, 11:20 am Updated on March 20, 2024, 11:21 am
MANILA – The country's overall balance of payments (BOP) position posted a deficit of USD196 million in February. In a report released late Tuesday, the Bangko Sentral ng Pilipinas (BSP) said the deficit last month was lower than the USD895 million deficit recorded in February last year. "The… Read More
LEDAC calls for urgent passage of learning recovery bill
March 19, 2024, 8:07 pm
MANILA – The Legislative-Executive Development Advisory Council (LEDAC) has called for the passage of the Academic Recovery and Accessible Learning (ARAL) Program Act by June this year. In a statement on Tuesday, the National Economic and Development Authority (NEDA) said the proposed bill,… Read More
El Niño rushes shutdown of hydroelectric plants in Nueva Ecija
March 19, 2024, 7:46 pm
PANTABANGAN, Nueva Ecija – The impacts of the El Niño phenomenon could now be seen in the power sector as the suspension of hydroelectric power plants in Nueva Ecija could come in earlier than expected. The National Irrigation Administration (NIA) has forecast that the Pantabangan Reservoir… Read More
PSEi, peso shed on Tuesday
March 19, 2024, 6:45 pm
MANILA – Both the local shares and currency closed weaker on Tuesday. The Philippine Stock Exchange index (PSEi) shed 0.07 percent, closing at 6,848.43, while All Shares also declined by 0.12 percent to 3,566.48. Only Property and Financials recorded gains at 1.73 percent and 0.21 percent,… Read More
Blinken says CHIPS Act to bolster PH-US ties in semiconductor
March 19, 2024, 5:58 pm
MANILA — Visiting United States Department of State Secretary Antony Blinken said the "Creating Helpful Incentives to Produce Semiconductors" or CHIPS and Science Act will fortify the already strong ties between the Philippines and the US in thevsemiconductor industry. Blinken made the statement… Read More
BTr fully awards reissued T-bonds
March 19, 2024, 4:45 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the reissued 20-year Treasury bonds (T-bonds). The reissued T-bonds fetched an average rate of 6.189 percent, lower than the 6.250 percent coupon set upon the original issuance and the prevailing secondary market benchmark. The… Read More
LandBank records 42% growth in digital transactions in 2023
March 19, 2024, 3:15 pm
MANILA – State-run Land Bank of the Philippines (LandBank) recorded a 42-percent growth in the value of digital transactions last year. In a statement on Tuesday, LandBank said it facilitated a total of PHP8.8 trillion digital transactions in 2023 from PHP6.2 trillion in 2022. The total volume… Read More
