Business
World-renowned metal products maker investing P300M in PH
August 17, 2023, 5:04 pm
MANILA – Aboitiz InfraCapital (AIC) Economic Estates on Thursday said that a Chinese high-precision metal products manufacturer is investing in one of its economic zones. AIC shared to the Philippine News Agency (PNA) that Steelwell Industrial Hardware is investing PHP300 million to construct a… Read More
47-ha technohub to rise at New Clark City
August 17, 2023, 4:59 pm
MANILA – A technology hub will rise inside the New Clark City, the flagship project of the Bases Conversion and Development Authority (BCDA). In a statement Thursday, the BCDA said it has signed a memorandum of understanding (MOU) with the Tarlac provincial government to develop a technology hub… Read More
Landbank to use space data, analytics for agri financing
August 17, 2023, 3:54 pm
MANILA – Land Bank of the Philippines (Landbank), Philippine Space Agency (PhilSA) and the Department of Science and Technology-Advanced Science and Technology Institute (DOST-ASTI) recently signed an agreement for the integration of space data and analytics to its financing strategies for the… Read More
PH battery consortium to address issues in e-vehicle supply chain
August 16, 2023, 8:28 pm
MANILA – Electric Vehicle Association of the Philippines (EVAP) president Edmund Araga announced Wednesday that the Philippine Battery Consortium will be launched at the 11th Philippine Electric Vehicle Summit (PEVS) in October. In a pre-event press conference in Taguig City, Araga said the… Read More
Bargain hunting pushes PH shares to 6,400-mark, peso bounces back
August 16, 2023, 8:26 pm
MANILA – For two consecutive days, bargain hunting has supported the local bourse pushing it back to its 6,400 level, while the peso also bounced back on Wednesday. The Philippine Stock Exchange index (PSEi) recovered 74.18 points, supporting the equities market to reach 6,410.09 level. All… Read More
Construction activities down in Q2
August 16, 2023, 7:31 pm
MANILA – Construction activities declined in the second quarter of the year, the Philippine Statistics Authority (PSA) reported on Wednesday. The PSA said the number of approved building permits declined by 14.9 percent to 36,136 from 42,478 in the same quarter last year. These permits are… Read More
PH seen to hit 100K-mark in registered e-vehicles by 2028
August 16, 2023, 7:07 pm
MANILA – An official of the Department of Energy (DOE) sees the Philippines will have 100,000 electric vehicle (e-vehicle) registrations by 2028, backed by government policies that will support the growth of e-vehicle industry in the country. In a press conference of the Electric Vehicle… Read More
BTr fully awards 10-year T-bonds
August 15, 2023, 7:34 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the new 10-year Treasury bonds (T-bonds). The BTr said the coupon rate was set at 6.625 percent. The auction was 2.2 times oversubscribed as total submitted bids amounted to PHP66.8 billion. The BTr raised the full program of… Read More
DOF chief: Pension reform to prioritize welfare of MUPs
August 15, 2023, 7:32 pm
MANILA – Department of Finance (DOF) Secretary Benjamin Diokno assured on Tuesday that the proposed reforms to the military and uniformed personnel (MUP) pension system prioritizes the welfare of MUPs and also ensures fiscal sustainability. “The goal is to craft a pension system that factors… Read More
PSEi up on bargain hunting, peso ends sideways
August 15, 2023, 7:30 pm
MANILA – Local shares slightly increased in trading session Tuesday but still failed to return to the 6,400-mark, while the peso closed sideways. Benchmark Philippine Stock Exchange index (PSEi) gained 6.72 points to 6,335.91, with all shares up by 2.98 points to 3,400.87. “The market was… Read More
Approved foreign investment pledges up 28% in Q2
August 15, 2023, 6:20 pm
MANILA – Approved foreign investment (FI) pledges grew by 27.8 percent in the second quarter of the year, data from the Philippine Statistics Authority (PSA) showed. PSA data released on Tuesday showed that total foreign investments approved by investment promotion agencies (IPAs) during the… Read More
Fuel provider to supply refillable LPG in micro-retail outlets
August 15, 2023, 5:28 pm
MANILA – Local startup Packworks is partnering with clean-fuel provider Pascal Resources Energy Inc. (PREI) to supply refillable liquefied petroleum gas (LPG) canisters to selected micro-retail outlets in the Philippines. In a statement on Tuesday, Packworks said the partnership aims to provide… Read More
More robust economic growth seen after mild Q2 performance
August 15, 2023, 3:04 pm
MANILA – Economists in the academe on Monday expressed optimism that the country’s economy will see more encouraging growth in the year’s third quarter as import season kicks in and businesses prepare for increased consumer spending towards yearend. They were reacting to the Philippines’… Read More
Vehicle sales up 31% in January-July
August 15, 2023, 3:02 pm
MANILA – Sales of automotive vehicles grew by 31.1 percent in the first seven months of the year, a joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) said Tuesday. CAMPI and TMA data showed that sales of both the… Read More
PH shares down as majority of Asian markets fall, peso weakens
August 14, 2023, 7:37 pm
MANILA – Like the majority of Asian stock markets, local shares closed in the negative territory while the peso further weakened on Monday. The Philippine Stocks Exchange index (PSEi) continued to shed for three trading days in a row, losing 76.72 points to 6,329.19, its nine-month low since… Read More
BTr partially awards T-bills
August 14, 2023, 4:58 pm
MANILA – The Bureau of the Treasury (BTr) on Monday partially awarded bids for the 91-day Treasury bills (T-bills) while partially awarding the 182- and 364-day securities. The 91-day T-bills fetched an average rate of 5.704 percent. The 182- and 364-day securities were capped at 5.945 percent… Read More
Oil companies to hike prices for 5th straight week
August 14, 2023, 4:39 pm
MANILA – Oil companies will again increase pump prices on Tuesday for five consecutive weeks. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell and Unioil announced that they will hike gasoline prices by PHP1.90 per liter and diesel prices by PHP1.50 per liter. Caltex,… Read More
Group pushes use of engineered bamboo as school furniture
August 13, 2023, 4:35 pm
ANTIPOLO CITY – The Philippine Bamboo Industry Development Council (PBIDC) is ramping up efforts to promote the widespread use of engineered bamboo school desks in public learning institutions ahead of the start School Year 2023-2024 on Aug. 29. In an interview on Sunday, Butch Madarang, PBIDC… Read More
Finance chief optimistic of reaching 6% GDP growth target
August 13, 2023, 2:40 pm
MANILA – Department of Finance (DOF) Secretary Benjamin Diokno said this year's economic growth target is within reach, citing the government's aggressive "catch-up" plans. "[The] 6.0 percent gross domestic product (GDP) growth target for 2023 remains achievable," Diokno said in a Viber message… Read More
GOCC subsidies up in June
August 13, 2023, 12:50 pm
MANILA – The national government's subsidies for government-owned and controlled corporations (GOCCs) more than doubled in June. Data from the Bureau of the Treasury (BTr) obtained over the weekend showed that subsidies to GOCCs during the month amounted to PHP26.0 billion, up by more than 200… Read More
