Business

DTI vows to assist tire producer for 100% local sourcing of raw rubber

DTI vows to assist tire producer for 100% local sourcing of raw rubber

June 26, 2024, 6:34 pm

MANILA – The Department of Trade and Industry (DTI) has vowed to assist Japanese tire manufacturer Yokohama Rubber Company Ltd. to fully source rubber sap from local suppliers as it plans to expand its production in the Philippines. In a briefing with trade reporters on June 24, DTI Secretary… Read More

Perks, subsidies needed for biz adopting tech, upskilling workforce

Perks, subsidies needed for biz adopting tech, upskilling workforce

June 26, 2024, 6:15 pm

MANILA – The Employers Confederation of the Philippines (ECOP) on Wednesday urged the government to provide incentives and subsidies for businesses that adopt advanced technologies like artificial intelligence (AI) and that upskill their workforce. ECOP said incentives for training programs… Read More

Metro Manila to remain PH’s economic center in next 10 years

Metro Manila to remain PH’s economic center in next 10 years

June 26, 2024, 5:54 pm

MANILA – Despite the government’s push for countryside development, Metro Manila businesses still believe that the National Capital Region (NCR) will remain the Philippines’ center for economic activities over the next 10 years. Philippine Chamber of Commerce and Industry (PCCI)-NCR vice… Read More

NEDA Board OKs digital infra project, adjusts parameters of 9 others

NEDA Board OKs digital infra project, adjusts parameters of 9 others

June 25, 2024, 9:15 pm

MANILA — The National Economic and Development Authority (NEDA) Board chaired by President Ferdinand R. Marcos Jr. approved on Tuesday a flagship infrastructure project to boost broadband connectivity and strengthen cybersecurity. In a statement late Tuesday, the NEDA Board said it approved the… Read More

Employers urged to keep up with AI, upskilling workforce

Employers urged to keep up with AI, upskilling workforce

June 25, 2024, 8:25 pm

MANILA — The Employers Confederation of the Philippines (ECOP) urged its members to keep up with artificial intelligence (AI)-driven technology and continue to reskill and upskill their workforce to support the country’s economic growth. During the 45th National Conference of Employers at The… Read More

Bargain hunting lifts PSEi, peso almost flat

Bargain hunting lifts PSEi, peso almost flat

June 25, 2024, 7:17 pm

MANILA – The local bourse continued to stay in positive territory on Tuesday as investors looked for cheap shares. The Philippine Stock Exchange index (PSEi) gained 26.59 points to 6,299.05 while the broader All Shares also rose 33.32 points to 3,441.09. "The local bourse extended its gains,… Read More

CIAC taps expertise of global tech firms for nat’l food hub

CIAC taps expertise of global tech firms for nat’l food hub

June 25, 2024, 5:38 pm

MANILA — The Clark International Airport Corp. (CIAC) has tapped the expertise of global technology firms in the food industry to modernize the PHP8.5-billion National Food Hub inside the civil aviation complex in Clark. CIAC shared in a statement Tuesday that it signed a memorandum of… Read More

BTr fully awards Treasury bills

BTr fully awards Treasury bills

June 25, 2024, 4:00 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for Treasury bills (T-bills). The 91-, 183-, and 364-day T-bills fetched average rates of 5.666 percent, 5.930 percent, and 6.031 percent, respectively – all lower than the prevailing secondary market rates. The… Read More

South Cotabato’s first IT park to start operation in 2026

South Cotabato’s first IT park to start operation in 2026

June 25, 2024, 3:25 pm

MANILA – The first information technology (IT) park in South Cotabato will begin operation in January 2026, the Philippine Economic Zone Authority (PEZA) said Tuesday. In a statement, the PEZA said Deputy Director General for Operations Vivian Santos signed a registration agreement with Matutum… Read More

BIR removes 5-year validity period of eCARs

BIR removes 5-year validity period of eCARs

June 25, 2024, 1:22 pm

MANILA – The Bureau of Internal Revenue (BIR) has removed the five-year validity period of electronic Certificate Authorizing Registration (eCAR). In a statement on Tuesday, BIR said Commissioner Romeo Lumagui Jr. issued Revenue Regulation (RR) No. 12-2024 which extends the validity of all… Read More

BOI on track to achieving 2024 target approvals

BOI on track to achieving 2024 target approvals

June 25, 2024, 11:50 am

MANILA – Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo said the investment promotion agency (IPA) remains on track to achieve its target approvals this year of PHP1.3 trillion to PHP1.5 trillion. In a briefing in Makati City on Monday, Rodolfo said he is… Read More

Big-time oil price hike set Tuesday

Big-time oil price hike set Tuesday

June 24, 2024, 5:57 pm

MANILA – Pump prices will be more expensive starting Tuesday (June 25) as oil firms will implement more than PHP1 increase. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, Shell, and Unioil said they would increase gasoline prices by PHP1.40 per liter, and diesel… Read More

BMI: PH tourist arrivals to surpass pre-pandemic level in 2025

BMI: PH tourist arrivals to surpass pre-pandemic level in 2025

June 24, 2024, 5:54 pm

MANILA – Fitch Solutions’ unit BMI has forecast that tourist arrivals in the Philippines next year may exceed the 8.2 million visitors before the Covid-19 pandemic. In a commentary released Monday, BMI projected a 32.6-percent increase in tourist arrivals this year to reach 6.6 million from 5… Read More

Stocks up, peso closes flat on Monday

Stocks up, peso closes flat on Monday

June 24, 2024, 4:59 pm

MANILA – After eight consecutive days of decline, the Philippine stock market rebounded on Monday as investors bought stocks at bargain levels, while the peso closed flat. The Philippine Stock Exchange index (PSEi) gained 113.98 points to close at 6,272.46. All Shares also went up by 32.57… Read More

NEDA chief: Gov't flexible to review, change rice tariff

NEDA chief: Gov't flexible to review, change rice tariff

June 24, 2024, 4:53 pm

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Monday assured that the government has flexibility to review and tweak rice tariff depending on changes in the economic environment. "It's already in the EO signed by the President, 'di ba, that there is a… Read More

Investing in kids' early years to boost PH human capital: WB

Investing in kids' early years to boost PH human capital: WB

June 24, 2024, 3:36 pm

MANILA – The government is implementing programs to support human capital but more needs to be done to take advantage of Filipinos' potential to achieve long-term growth, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Monday. Human capital encompasses the… Read More

Japan delivers P22-B investments to PH; adds P7.4-B in pledges

Japan delivers P22-B investments to PH; adds P7.4-B in pledges

June 24, 2024, 3:07 pm

MANILA – Japanese companies are delivering their investment commitments to the Philippines that they presented to President Ferdinand R. Marcos Jr. during his official trips to the East Asian country, the top trade official said on Monday. Department of Trade and Industry (DTI) Secretary Alfredo… Read More

BCDA secures 2 deals during Japan trip

BCDA secures 2 deals during Japan trip

June 23, 2024, 11:05 am

MANILA – The Bases Conversion and Development Authority (BCDA) has formalized two agreements with Japanese organizations during a high-level visit to Tokyo, ensuring the smart and sustainable development of John Hay Special Economic Zone, New Clark City, and its other economic zones. The first… Read More

BOI green lanes P4.8-B hydroelectric power project in N.Vizcaya

BOI green lanes P4.8-B hydroelectric power project in N.Vizcaya

June 21, 2024, 7:37 pm

MANILA – The Board of Investments (BOI) said Friday it has granted Certificate of Green Lane Endorsement to FDC Renewables Corp. for its 33.4-megawatt Pampang Hydroelectric Power Project in Nueva Vizcaya worth PHP4.8 billion.  The green lane endorsement was awarded last June 11, and is part of… Read More

Meralco opens bidding for 400MW power supply

Meralco opens bidding for 400MW power supply

June 21, 2024, 7:19 pm

MANILA – The Manila Electric Company (Meralco) has initiated the Competitive Selection Process (CSP) for 400 megawatts (MW) of power supply to meet the increasing energy demand starting next year. This follows the Department of Energy’s (DOE) issuance of a Certificate of Conformity to… Read More