Business
Batangas plant to propel D&L as global firm
June 3, 2024, 7:07 pm
MANILA – The country’s leading food ingredients and oleochemical firm D&L Industries is optimistic that its latest production facility in Batangas will help its goal of achieving its export target. “To date, our Batangas plant has been instrumental in opening up new markets for us as we… Read More
SSS expects higher profit from REIT investments
June 3, 2024, 6:42 pm
MANILA – The Social Security System (SSS) said it is optimistic to generate more profit from its PHP6-billion investments in nearly all real estate investment trusts (REITs) available in the country this year. In a statement on Monday, SSS President and Chief Executive Officer Rolando Ledesma… Read More
Alternergy’s aggressive fundraising to hike RE capacity
June 3, 2024, 6:10 pm
MANILA – Listed renewable energy (RE) company Alternergy Holdings Corp. has been aggressive in its fundraising activities to reach its goal of nearly 500 megawatts (MW) capacity of clean energy by 2026. In a press briefing in its headquarters in Makati City, Alternergy chief financial officer… Read More
BSP reminds public about rules on cross-border transfer of currencies
June 3, 2024, 4:01 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Monday expressed support to the eTravel Customs System but reminded the public about the rules on cross-border transfer of currencies. The eTravel Customs System enables all arriving and departing travelers to fill out the electronic Customs… Read More
BTr raises P15B from Treasury bills auction
June 3, 2024, 4:00 pm
MANILA – The government raised PHP15 billion from the Treasury bills (T-bills) auction on Monday, the Bureau of the Treasury (BTr) said. The BTr said the 91-, 182-, and 364-day T-bills fetched average rates of 5.698 percent, 5.904 percent and 6.046 percent, respectively, lower than the… Read More
Investors urged to bankroll microgrid dev’t in PH
June 3, 2024, 2:58 pm Updated on June 3, 2024, 3:33 pm
MANILA – Senator Win Gatchalian on Monday encouraged investors to provide capital for the development of microgrids in the country, especially in off-grid areas, to help achieve full electrification. “Electrification is usually followed by economic development and the government in partnership… Read More
PH manufacturing records growth anew in May
June 3, 2024, 2:17 pm
MANILA – The Philippine manufacturing sector continued to post a positive performance in May 2024, the S&P Global Manufacturing Purchasing Managers’ Index (PMI) reported Monday. The country’s manufacturing score last month recorded an index higher than the neutral score of 50, at 51.9.… Read More
Mixed oil price adjustments set Tuesday
June 3, 2024, 11:44 am
MANILA – Oil companies will implement mixed price adjustments starting 12:01 a.m. on Tuesday. In separate advisories, Cleanfuel, Petro Gazz, Seaoil, and Shell said they would slash gasoline prices by PHP0.90 per liter while increasing diesel prices by PHP0.60 per liter. Seaoil and Shell will… Read More
13 more added to P3-T worth of PPP projects
June 2, 2024, 4:58 pm
MANILA – The Public-Private Partnership (PPP) Center said 134 projects worth PHP3.03 trillion are in the pipeline for undertaking between the government and private sector. Data released by the PPP Center over the weekend showed that 13 unsolicited proposals were recently added to the list of… Read More
PEZA to revive Albay’s coastal village as global value chain player
May 31, 2024, 8:10 pm
MANILA – The Philippine Economic Zone Authority (PEZA) aims to propel economic activities in a coastal village in Libon, Albay through economic zone development. PEZA Director General Tereso Panga on May 24 visited Barangay Pantao, an “astillero” or a shipyard during the galleon trade, which… Read More
PSEi ends 5-day shedding, peso strengthens
May 31, 2024, 7:40 pm
MANILA - Both the local bourse and currency improved their performance at the end of the week. The Philippine Stock Exchange index (PSEi) on Friday went up by 0.96 percent to 6,433.10, with All shares improving by 1.12 percent to 3,463.87 level. Philstock Financials, Inc. research associate Claire… Read More
Bank lending up, domestic liquidity slows in April
May 31, 2024, 5:39 pm
MANILA – Bank lending of universal and commercial banks (U/KBs) grew at a faster pace in April this year while domestic liquidity growth slowed, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data released by the BSP on Friday showed that banks' outstanding loans, excluding… Read More
CREATE law attracts P1.1-T investments
May 31, 2024, 3:52 pm
MANILA – Big-ticket investments approved under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act has already reached more than PHP1 trillion as of April this year. In a Facebook post on Friday, the Department of Finance (DOF) said these big-ticket projects are expected to… Read More
Meralco unit to energize PH's largest data center
May 31, 2024, 3:14 pm
MANILA -- Meralco Energy, Inc. (MSERV), a unit of the Manila Electric Company, will energize the country's largest hyperscale data center ST Telemedia Global Data Center (STT GDC Philippines). In a statement Friday, MSERV said the partnership will push for innovation and technological advancement… Read More
BSP sees May 2024 inflation at 3.7% to 4.5%
May 31, 2024, 1:20 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) expects the May 2024 inflation to settle within the 3.7 to 4.5 percent range. "Continued increases in electricity rates and vegetable prices alongside recent peso depreciation are the primary sources of upward price pressures for the month," the BSP… Read More
DTI-RISE UP financing program vs. loan sharks benefit MSMEs
May 30, 2024, 8:21 pm
DUMAGUETE CITY – Micro, small and medium enterprises (MSMEs) in Negros Oriental are now benefitting from an affordable financing program of the Department of Trade and Industry (DTI) aimed at combating “loan sharks” charging high interest rates. “The RISE UP (Resilient, Innovative, and… Read More
Producer price index continues to decline in April
May 30, 2024, 6:36 pm
MANILA – The producer price index (PPI) for manufacturing continued to decline in April this year, but at a slower pace than the recorded decline in March. In a report released on Thursday, the Philippine Statistics Authority (PSA) said the PPI for manufacturing declined by 0.8 percent in April,… Read More
PEZA inks deal with Megaworld for P818-M Arcovia City
May 30, 2024, 6:35 pm
MANILA – The Philippine Economic Zone Authority (PEZA) on Thursday said it signed a deal with Megaworld Corp. last May 21 for the PHP817.5-million IT park Arcovia City in Ugong, Pasig City. The registration agreement was signed by PEZA Director General Tereso Panga and Megaworld executive vice… Read More
PSEi down, peso falls to 18-month low
May 30, 2024, 6:34 pm
MANILA – The local stock market declined on Thursday, while the peso closed at its lowest level since Nov. 3, 2022. The Philippine Stock Exchange index (PSEi) went down by 39.66 points, closing at 6,371.75, while the broader All Shares also declined 26.17 points to 3,425.57. "The local market… Read More
Recto: Agri-trucks toll fee hike exemption to cut food inflation
May 30, 2024, 12:39 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto said the exemption from toll fee hikes for trucks carrying agricultural goods would help reduce food inflation and ensure the stability of food prices. “I thank our government agencies as well as our partner toll expressway… Read More
