Business
PH aims 2nd highest FDI in ASEAN by ‘28
September 11, 2023, 11:00 pm
MANILA – The Philippines aims to have the second highest foreign direct investments (FDI) in the Association of Southeast Asian Nations (ASEAN) by the end of the Marcos administration, Trade and Industry Secretary Alfredo Pascual said. In a television interview Monday, Pascual said the current… Read More
PH eyes to up ranking in global innovation report by ‘28
September 11, 2023, 9:07 pm
MANILA – President Ferdinand R. Marcos Jr. aims to raise the country’s ranking in the Global Innovation Index (GII) report of the World Intellectual Property Organization (WIPO) by the end of his term in 2028. “We believe that by addressing gaps and challenges in innovation inputs and… Read More
Policies to temper rice prices back PSEI; peso on sideways
September 11, 2023, 9:03 pm
MANILA – Government policies targeted to address the spike in rice prices boosted investors' sentiments to buy local shares on Monday, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) finished the day increasing by 10.80 points to 6,233.74 level, with All Shares… Read More
4 Japanese firms investing P10.8-B in PEZA
September 11, 2023, 6:35 pm
MANILA – Four Japanese companies will be expanding their operations in the country’s economic zones through investments amounting to around PHP10.8 billion, the Philippine Economic Zone Authority (PEZA) reported Monday. PEZA Director General Tereso Panga, in a statement, said the agency… Read More
BTr fully awards T-bills
September 11, 2023, 4:41 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 5.575 percent, 5.960 percent, and 6.190 percent, respectively, all lower than secondary market rates. The auction was 3.5 times… Read More
DTI: Rice price cap may be reviewed in 2 weeks
September 11, 2023, 2:22 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the rice price ceiling under Executive Order (EO) No. 39 will remain in effect for another two weeks before the government reviews the policy. “(M)aybe (in) another two weeks we’ll have a good idea of the… Read More
Finance chief: Economic team backs rice price cap
September 11, 2023, 1:15 pm
MANILA – The country's economic team on Monday reiterated full support and endorsement of the President’s recent decision to impose a price cap on rice. In a statement on Monday, Finance Secretary Benjamin Diokno also emphasized the importance of immediately implementing a comprehensive set of… Read More
Maharlika Investment Fund to generate 100K jobs
September 11, 2023, 9:05 am
MANILA – The Maharlika Investment Fund (MIF) can generate a 0.07-percentage point economic growth annually in the first 10 years of operation and generate about 100,000 direct and indirect jobs, the Department of Finance (DOF) said. "A fully operational MIF, coupled with an ideal economic… Read More
DOF proposes temporary reduction in rice tariff
September 11, 2023, 8:00 am
MANILA – The Department of Finance (DOF) is proposing the temporary reduction of rice import tariffs to help reduce prices. In his weekly press chat last Friday, DOF Secretary Benjamin Diokno said while price controls, when carefully calibrated and closely implemented, are effective in the near… Read More
Start of rice harvest signals lower prices: retail leader
September 9, 2023, 8:33 pm
MANILA – Retail prices of rice will go down substantially without government intervention with the beginning of harvest season this week. In an interview on Saturday, Steven Cua, president of the Philippine Amalgamated Groceries and Supermarkets Association (PAGASA), said the imminent delivery… Read More
PEZA: Approved projects in various ecozones hit PHP111 billion
September 8, 2023, 10:05 pm
MANILA – Project approvals in various economic zones nationwide hit PHP111.2 billion as of Sept. 7, 2023, Philippine Economic Zone Authority (PEZA) Director General Tereso Panga reported Friday. In a statement, Panga said the latest investment approvals figure are higher by 180.6 percent… Read More
PH jobs data back strong PSEi, peso closing
September 8, 2023, 8:56 pm
MANILA – Local shares and the currency finished strong Friday on the back of robust employment data released by the government. The benchmark Philippine Stock Exchange index (PSEi) regained 39.87 points to 6,222.94, with broader all shares also increasing by 13.24 points to 3,360.23. “The… Read More
Improved economy, livability boost Iloilo City's biz climate
September 8, 2023, 5:12 pm
ILOILO CITY – The improving economy and livability have enticed more investors to open businesses in this city. Data from the Business Permits and Licensing Office (BPLO) showed 2,000 new and 16,033 business permit renewals were approved as of the end of August, while 239 applications are… Read More
Trade deficit down in July
September 8, 2023, 1:56 pm
MANILA – The country's trade deficit narrowed anew in July, Philippine Statistics Authority (PSA) data showed. In a report released Friday, the PSA said the trade deficit during the month dropped by 30 percent to USD4.2 billion from USD5.9 billion in July last year. It was, however, slightly… Read More
Jobless Filipinos down in July
September 8, 2023, 12:21 pm
MANILA – The number of unemployed Filipinos declined by 329,000 to 2.27 million in July this year from 2.60 million a year ago, the Philippine Statistics Authority (PSA) said. In a briefing on Friday, National Statistician Dennis Mapa reported the results of the PSA's recent Labor Force Survey… Read More
PH stocks stumble amid higher US Treasury yields, peso rebounds
September 7, 2023, 5:37 pm
MANILA – The local stock market joined most of its neighboring peers in a decline as investors reacted to higher US Treasury yields and lower trade data in China, while the peso rebounded on Thursday’s trading. The Philippine Stock Exchange index (PSEi) ended its four-day rally as shares… Read More
ECCP calls for sustainable agri to meet rising food demand
September 7, 2023, 5:03 pm
MANILA – The European Chamber of Commerce of the Philippines (ECCP) on Thursday urged the country to have a sustainable agriculture sector to meet the rising food demand amid the growing population. During the Sustainable Agriculture Forum at Dusit Thani Manila in Makati City, ECCP president… Read More
BCDA seeks out for partnerships for Clark dev’t at Japan meeting
September 7, 2023, 3:36 pm
MANILA – The Bases Conversion and Development Authority (BCDA) sought out potential partners for Clark development plans and programs at the recent 14th Japan–Philippines High Level Joint Committee on Infrastructure Development and Economic Cooperation in Tokyo, Japan. BCDA president and chief… Read More
16 PH enterprises to join 20th CAEXPO in Nanning
September 7, 2023, 2:34 pm Updated on September 8, 2023, 2:57 pm
MANILA – A total of 16 enterprises from the Philippines will participate in the 20th China-ASEAN Expo (CAEXPO) that will be held in Nanning, Guangxi Zhuang Autonomous Region in China from Sept. 16 to 19. Wei Zhaohui, secretary-general of the CAEXPO Secretariat, said the Philippines would use 20… Read More
PH manufacturing growth accelerates in July: PSA
September 7, 2023, 12:49 pm
MANILA - The country's manufacturing sector grew at a faster pace in July, the Philippine Statistics Authority (PSA) reported on Thursday. PSA's Monthly Integrated Survey of Selected Industries results showed that the Value of Production Index (VaPi) grew by 5.7 percent in July from 4.2 percent in… Read More
