Business
DA exploring seaweed's potential as cost-efficient animal fodder
October 29 2023, 3:48 pm
MANILA – The Department of Agriculture (DA) is seeking to bring down the cost of meat production by introducing processed seaweed as an inexpensive and abundant alternative fodder for livestock and other farm animals. DA Undersecretary Deogracias Victor Savellano on Sunday said that seaweed is… Read More
Biz group joins call for truce in Gaza
October 29 2023, 1:54 pm
MANILA – The International Chamber of Commerce-Philippines chapter echoed Sunday its Paris head office’s call for a cessation of hostilities in the Gaza strip amid the humanitarian crisis brought about by three weeks of intense fighting. In an interview on Sunday, Jesus Varela, director… Read More
Debt payments up in August
October 29 2023, 1:33 pm
MANILA – The National Government's (NG) debt payments went up significantly in August this year, data from the Bureau of the Treasury (BTr) showed. In a report, the BTr said the debt service bill during the month amounted to PHP189.0 billion, up by 177 percent from last year's PHP68.2… Read More
PH exports increasing but external headwinds slow down growth
October 29 2023, 1:01 pm Updated on October 29, 2023, 4:15 pm
MANILA – The country’s export revenues are slowly recovering this year due to external factors beyond the control of the local stakeholders, Philippine Exporters Confederation (Philexport) president Sergio Ortiz-Luis Jr. said. In a chance interview at the Philippine Business Conference at the… Read More
Local shares slide below 6,000-mark, peso flat Friday
October 27 2023, 6:25 pm
MANILA – The sustained shedding of the local shares for two days has brought down the Philippine Stock Exchange index (PSEi) to below the 6,000-mark while peso ended flat at the end of the week. PSEi finished the day 0.94 percent lower to 5,961.99 level, with broader All Shares also declined by… Read More
BOI works double time to hit P1.5-T investment approvals target
October 27 2023, 5:30 pm
MANILA – In just a month, the Board of Investments (BOI) approved more than PHP250 billion worth of projects as pledges in the investment promotion agency (IPA) breached the PHP1 trillion mark this month, Trade Secretary and BOI Chairman Alfredo Pascual said. “We have exceeded already PHP1… Read More
Free trade deals help reduce costs for PH franchise industry
October 27 2023, 5:06 pm
MANILA – Free trade agreements (FTAs) have helped the franchise industry grow across the country and overseas, Philippine Franchise Association (PFA) president Christopher Lim said in an interview on Friday. On the sidelines of the Franchise Asia Philippines 2023 (FAPHL) held in Pasay City, Lim… Read More
Samar launches ‘Mercado’ brand of handicrafts
October 27 2023, 3:37 pm
TACLOBAN CITY – The Samar provincial government launched on Friday a new brand of its high-end handcrafted products, making it more affordable to local buyers. Mercado by Lara is a brand that gives new life to the local economy by offering a range of high-quality, locally produced home products… Read More
Card spending increases by 39% in first half of 2023
October 27 2023, 2:51 pm
MANILA – The Credit Card Association of the Philippines (CCAP) said on Friday card spending increased by 39 percent to PHP853 billion in the first half of the year. In her speech during CCAP's 42nd Anniversary Forum held virtually, CCAP chairperson Magdalena Surtida said as of end-June, the… Read More
PCCI submits business conference resolution to PBBM
October 27 2023, 8:00 am
MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, submitted to President Ferdinand R. Marcos Jr. on Thursday the resolution it passed during the 49th Philippine Business Conference (PBC). In the 49-page resolution, the PCCI included… Read More
Stocks, peso down after BSP makes off-cycle rate hike
October 26 2023, 9:27 pm
MANILA – Both the local equities and the peso weakened on Thursday after the Bangko Sentral ng Pilipinas (BSP) announced an off-cycle policy rate hike. The Philippine Stock Exchange index (PSEi) declined 0.60 percent to 6,018.49 after it recovered the previous day from a five-day losing streak.… Read More
Multi-specialty hospital in Clark secures P1-B funding
October 26 2023, 6:15 pm
MANILA – Clark Development Corporation (CDC) president and chief executive officer Agnes Devanadera said Thursday the multi-specialty medical center in Clark Freeport Zone has secured PHP1-billion funding from Bloomberry Cultural Foundation, Inc. “We have the Clark Multi-Specialty Medical… Read More
BSP hikes policy rate by 25 basis points
October 26 2023, 5:04 pm Updated on October 26, 2023, 6:28 pm
MANILA – In an off-cycle move on Thursday, the Bangko Sentral ng Pilipinas' (BSP) Monetary Board raised policy rates by another 25 basis points amid expectations that inflation will continue to be above target until the first half of 2024. "At its regular meeting earlier today, the Monetary… Read More
PH economic growth seen accelerating to 6% in Q3
October 26 2023, 4:31 pm
MANILA – The Philippine economic growth likely accelerated in the third quarter of the year, driven by the growth in government spending, according to an economist. In a Viber message to the Philippine News Agency on Thursday, Rizal Commercial Banking Corporation (RCBC) chief economist Michael… Read More
4 PH provinces chosen for Australian soil management R&D
October 26 2023, 2:56 pm
MANILA – The Australian Embassy in Manila has named four provinces in the country that will be the experiment sites for soil management cooperation between the Philippines and Australia. “Experiment sites will be continued or expanded in Agusan del Sur for rubber-based intercropping system,… Read More
DTI vows to upskill MSMEs to improve products, market access
October 26 2023, 12:27 pm
MANILA – The Department of Trade and Industry (DTI) has committed to helping micro, small and medium enterprises (MSMEs) widen their opportunities to further improve their products and market access. Trade Secretary Alfredo Pascual made this assurance in his message read by DTI Undersecretary… Read More
60% of traders in Baguio embrace e-payments: BSP
October 25 2023, 9:27 pm
BAGUIO CITY – Sixty percent of business owners in this city’s public market now offer digital payment options, an executive of the Bangko Sentral ng Pilipinas said Wednesday. In a press conference, BSP North Luzon Regional Office bank officer Rodora Teresa Openiano said electronic wallet… Read More
Stocks snap 5-day losing streak, peso ends sideways
October 25 2023, 7:53 pm
MANILA – The benchmark Philippine Stock Exchange index (PSEi) rebounded on Wednesday after five straight days of losses, while the peso closed sideways. The PSEi rose by 0.25 percent or 14.78 points to 6,054.83, with broader All Shares also went up by 0.13 percent to 3,288.83. Sectoral indices… Read More
PH, EU sign 60-M euro Green Economy Program
October 25 2023, 7:52 pm
MANILA – The European Union (EU) and the Philippines signed on Wednesday a 60-million-euro Financing Agreement for the Green Economy Program, the EU Commission and the Department of Finance (DOF) said. In a statement, the EU Commission said the agreement signed during the Global Gateway Forum in… Read More
Electronics firms maintain $49-B export target for 2023
October 25 2023, 7:50 pm
MANILA – The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) on Wednesday said that while electronics exports will be flat this year, this is still "remarkable" given the slowdown in the global economy and geopolitical tensions. "The main reason is global… Read More
