Business
DTI shuts down Valenzuela warehouse with P8-M of uncertified goods
July 5, 2024, 7:10 pm
MANILA – The Department of Trade and Industry’s (DTI) Task Force Kalasag served a closure order Friday to OOKAS PH, a warehouse in Paso de Blas, Valenzuela City with PHP7.8 million worth of uncertified home appliances. Together with the Valenzuela Business Permit and Licensing Office (BPLO),… Read More
BSP bills volume offering reduced
July 5, 2024, 7:05 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Friday reduced the total volume offering of the BSP bills (BSPB) to PHP160 billion. In a statement on Friday, BSP Deputy Governor Francisco Dakila Jr. said the allocation mix was lowered to PHP90 billion from PHP100 billion for the 28-day tenor… Read More
Profit-taking slashes local stocks; peso ends sideways
July 5, 2024, 6:02 pm
MANILA – Following the local stock market’s gain for two consecutive days, profit-taking shed the Philippine Stock Exchange index (PSEi) on Friday, while the peso ended the week sideways. The PSEi declined by 0.23 percent to 6,492.75 after returning to the 6,500-level the previous day, after… Read More
Economist: Employment data likely improved in May
July 5, 2024, 5:41 pm
MANILA – The country's employment data likely improved in May this year due to the hiring of more agricultural workers amid better weather conditions, an economist said. "Philippine employment data as of May 2024 could improve due to better weather conditions with the start of rains that enabled… Read More
Inflation eases to 3.7% in June
July 5, 2024, 11:54 am Updated on July 5, 2024, 8:03 pm
MANILA – The country's headline inflation decelerated to 3.7 percent in June from 3.9 percent in May due to the easing of energy and transport costs, the Philippine Statistics Authority (PSA) said. In a press briefing on Friday, PSA Undersecretary and National Statistician Dennis Mapa said… Read More
PSEi back to 6,500-level, peso strong
July 4, 2024, 7:01 pm
MANILA – The local bourse continued to strengthen, returning to the 6,500 level, while the Philippine peso also gained against the US dollar on Thursday. The Philippine Stock Exchange index (PSEi) gained 0.89 percent closing at 6,507.49, with All Shares also improving by 0.59 percent to… Read More
FedEx to ramp up size in PH with fresh investments
July 4, 2024, 6:16 pm
MANILA – US logistics company Federal Express Corp. (FedEx) confirmed its expansion in the Philippines by signing an agreement with Clark International Airport operator Luzon International Premiere Airport Development (LIPAD) on Thursday. With the fresh investments in the Philippines, FedEx said… Read More
BMI: Fed cuts to pave way for peso appreciation
July 4, 2024, 5:26 pm
MANILA – Fitch Solutions unit BMI on Thursday said interest rate cuts in the United States will pave the way for a rebound in the peso which has so far weakened by nearly 6.2 percent. "Constant repricing of interest rate expectations in the US has led to much volatility in many emerging market… Read More
PBBM’s economic team to talk future-proofing PH economy
July 4, 2024, 5:26 pm
MANILA – President Ferdinand R. Marcos Jr.'s economic managers will discuss their strategies that will allow the government to achieve its economic targets despite the internal and external headwinds. The Economic Journalists Association of the Philippines (EJAP) and San Miguel Corp. (SMC) once… Read More
PH exceeds GNI per capita target in 2023
July 4, 2024, 2:22 pm
MANILA – The Philippines exceeded its Gross National Income (GNI) per capita target for 2023 under the Philippine Development Plan (PDP) 2023-2028 and is on track to becoming an upper middle-income country in the next two years, National Economic and Development Authority (NEDA) Secretary… Read More
Banks' non-performing loan ratio up in May
July 4, 2024, 2:13 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said the proportion of non-performing loans (NPLs) of Philippine banks to their total loans settled at 3.57 percent in May this year. Data released by the BSP late Wednesday showed that the NPL ratio during the month was higher than the 3.45 percent… Read More
DTI to finalize updated AI roadmap within the year
July 4, 2024, 12:09 pm
MANILA – The Department of Trade and Industry (DTI) is eyeing to finalize the National Artificial Intelligence Strategy Roadmap 2.0 within this year that will include the sector’s targets on artificial intelligence (AI) contribution to gross domestic produce (GDP), investments and jobs, among… Read More
P100-M electric vehicles station to rise in New Clark City
July 3, 2024, 9:12 pm
MANILA – A modern super station complete with charging terminals for electric vehicles (EVs) and a retail center will soon rise in New Clark City, promising to bring additional revenues for the government, provide future employment opportunities for the local community, and boost foot traffic in… Read More
DTI wants AI research center to be revenue-generating
July 3, 2024, 9:11 pm
MANILA – With the launching of the Center of AI Research (CAIR) on Wednesday, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said he wants this artificial intelligence-related research and development hub to be revenue-generating. Pascual said at the sidelines of the launching… Read More
PH to gain over P2-T annually from AI-powered solutions
July 3, 2024, 7:23 pm
MANILA – The Philippines can gain more than PHP2 trillion annually if businesses use artificial intelligence (AI)-solutions but efforts must be made to improve the country's internet infrastructure, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said. "The… Read More
Bargain hunting lifts PSEi, peso moves sideways
July 3, 2024, 6:11 pm
MANILA – The local bourse recovered on Wednesday after two consecutive days of decline, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) gained 91.07 points to 6,450.03, while the broader All Shares also increased by 32.46 points to 3,495.13. "The local market rose by… Read More
BCDA seals deal for 1st ‘super station’ in New Clark City
July 3, 2024, 4:32 pm
MANILA – The Bases Conversion and Development Authority (BCDA) on Wednesday announced it has finalized its deal with Double 11 Properties Corp. to establish the first modern full-service station in New Clark City worth PHP200 million. The BCDA said it has signed a contract with Double 11 for the… Read More
MVP firm eyes corn plantation in Northern Samar
July 3, 2024, 3:05 pm
TACLOBAN CITY – The Metro Pacific Agro Ventures Inc. (MPAV) led by business tycoon Manuel V. Pangilinan is eyeing to set up a 500-hectare corn plantation in Northern Samar province, the local government said on Wednesday. The Provincial Economic Development and Investment Promotions Office… Read More
LandBank launches save, win promo for depositors
July 3, 2024, 2:30 pm
MANILA – State-run Land Bank of the Philippines (LandBank) launched a new promo that gives depositors the chance to win up to PHP1 million in cash and gadgets by growing their savings with the bank. In a statement on Wednesday, LandBank said the IpoNalo raffle promo is part of the bank's… Read More
Most school supplies’ prices stable: DTI
July 3, 2024, 2:20 pm
MANILA – The Department of Trade and Industry (DTI) said the prices of most school supplies remain stable, with 80 items out of the 117 stock keeping units (SKUs) maintaining their costs. Twenty-eight SKUs increased their prices, while nine items had a price cut. There were 56 more SKUs… Read More
