Business
N. Samar earns presidential recognition for MSME support
July 8, 2024, 8:32 pm
TACLOBAN CITY – The Northern Samar provincial government will be honored at the Presidential Awards for Outstanding MSMEs 2024 at Malacañang Palace in Manila on July 10. The province will be awarded for being an outstanding development partner in the promotion of economic development among… Read More
Global tobacco firm lauds gov’t efforts to address illicit trade
July 8, 2024, 7:22 pm
MANILA – The Japan Tobacco International (JTI), a global tobacco firm, has lauded the efforts of the Marcos administration in curbing illicit cigarette trade. However, more has to be done, JTI Philippines director for fiscal and regulatory affairs Robert Eugenio said at an economic forum in… Read More
BTr fully awards Treasury bills
July 8, 2024, 5:59 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills). The 91-day, 182-day, and 364-day T-bills fetched average rates of 5.698 percent, 5.968 percent, and 6.073 percent, respectively. In comparison, the PHP Bloomberg Valuation Service (BVAL) settled… Read More
Marcos economic team lays out plans to safeguard PH economy
July 8, 2024, 5:50 pm
MANILA – The economic managers of President Ferdinand R. Marcos Jr. laid out the administration’s strategies to safeguard the Philippine economy from internal and external headwinds as it continues to recover from the impacts of the pandemic. Department of Finance Secretary Ralph Recto, Bangko… Read More
CTA junks infotech firm's P165.25-M tax claim
July 8, 2024, 5:32 pm
MANILA – The Court of Tax Appeals (CTA) has turned down a tax claim for PHP165.25 million filed by an infotech company for being appealed out of time. In a decision dated July 2, 2024 the tax court’s First division said HP PPS Philippines Inc. failed to substantiate that it had filed its suit… Read More
DOE: PHP72-B needed for PH total electrification
July 8, 2024, 3:16 pm
ILOILO CITY – A Department of Energy (DOE) official on Monday said PHP72 billion would be needed to fund the government's goal of 100 percent total household electrification by 2028. DOE Undersecretary Rowena Cristina Guevara, during the 16th Media Seminar organized by the United States Embassy… Read More
PSA: Employment rate up in May
July 8, 2024, 10:57 am Updated on July 8, 2024, 2:46 pm
MANILA – The number of jobless Filipinos went down to 2.11 million in May this year from 2.17 million in May 2023, the Philippine Statistics Authority (PSA) said on Monday. Data released by the PSA showed that the unemployment rate in May was at 4.1 percent, down from 4.3 percent in the same… Read More
PH top performance in debt transparency report boosts public trust
July 7, 2024, 2:26 pm
MANILA – The Philippines topping the global ranking on investor relations and debt transparency is a testament to the proactive efforts of the Department of Finance (DOF) in boosting public trust and engagement, Secretary Ralph Recto said. “It is very encouraging to see that the Philippines is… Read More
Food prices seen to ‘moderate’ in coming months
July 7, 2024, 2:15 pm
MANILA – Food prices are expected to decrease in the coming months and the overall inflation is likely to settle within the government's 2 to 4 percent target this year, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said. Headline inflation eased at 3.7 percent… Read More
NEDA, BSP chiefs count on DAP to shape gov't innovation
July 7, 2024, 12:25 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said he is hopeful that the Development Academy of the Philippines (DAP) will continue to help government agencies foster public service innovation. "We hope to see that DAP continue its work in helping… Read More
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
