Business
Congress urged to support 100% electrification target by 2028
July 28, 2023, 4:21 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla has urged Congress to support the agency’s budget to fully energize the country by the end of the Marcos administration. Lotilla told reporters in Pasay City early this week that almost 5 million people in the country do not have… Read More
Food producers reassured by revitalized focus on agri sector
July 28, 2023, 2:57 pm
ANTIPOLO CITY – Local food producers on Friday said they found it reassuring that President Ferdinand R. Marcos Jr. devoted a huge portion of his second State of the Nation Address (SONA) to matters directly related to the agriculture sector. Danilo Fausto, president of the Philippine Chamber of… Read More
Residential real estate prices up in Q1
July 28, 2023, 2:30 pm
MANILA – Residential real estate prices went up year-on-year in the first quarter of 2023 but registered slower growth quarter-on-quarter. Residential Real Estate Price Indices (RREPI) data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed a 10.2 percent year-on-year expansion… Read More
DBP completes P1-B interest subsidy disbursement to LGUs
July 27, 2023, 10:11 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has completed the disbursement of funds under the PHP1-billion interest rate subsidy program covering local government units (LGUs) in the implementation of their respective Covid-19 response and recovery interventions, a top… Read More
Peso, stocks nearly flat after Fed raises interest rate
July 27, 2023, 7:12 pm
MANILA – The stock market and local currency both traded sideways on Thursday. The benchmark Philippine Stock Exchange index (PSEi) slipped by 1.21 points, or 0.02 percent, to 6,677.92 level on this day’s trading. All shares closed flat to 3,547.00. “Philippine shares ended the session… Read More
3 young biz leaders recognized at PHINMA’s Siklab Awards
July 27, 2023, 7:07 pm
MANILA – Three young and brilliant entrepreneurs were honored at the Ramon V. del Rosario Siklab Awards, a joint initiative organized by PHINMA and the De La Salle University (DLSU) RVR College of Business. The honorees of this year’s RVR Siklab Awards came from diverse fields, which… Read More
Over 8K jobs seen from 5 LOIs in PBBM’s Malaysia trip
July 27, 2023, 6:32 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the Philippines has received five letters of intent (LOI) from Malaysian businesses during the state visit of President Ferdinand R. Marcos Jr. to the Association of Southeast Asian Nations (ASEAN) country, which can… Read More
Retail price index in NCR further eases in June
July 27, 2023, 5:20 pm
MANILA – The annual growth of the general retail price index (GRPI) in the National Capital Region (NCR) further eased in June, the Philippine Statistics Authority (PSA) said on Thursday. Data released showed that the GRPI in NCR decelerated to 4.4 percent in June from 4.9 percent in May. It… Read More
4 big-ticket ‘green lane’ projects to create over 19K jobs
July 27, 2023, 5:16 pm
MANILA – Four big-ticket projects with the potential to generate 19,250 additional jobs have been given the certificate of endorsement by the One-Stop Action Center for Strategic Investments (OSAC-SI) at the Board of Investments (BOI), according to the trade chief. “Four out of 12 projects… Read More
ITBPO sector target employment achievable despite AI threat
July 27, 2023, 3:43 pm
MANILA – The Contact Center Association of the Philippines (CCAP) is optimistic that the information technology and business process outsourcing (ITPO) sector will be able to hit its target headcount despite the emergence of artificial intelligence (AI). In a statement Thursday, CCAP managing… Read More
Landbank loans to MSMEs hit P50B in Jan-June
July 27, 2023, 2:51 pm
MANILA – State-run Land Bank of the Philippines (Landbank) on Thursday reported that outstanding loans to micro, small and medium enterprises (MSMEs) already amounted to almost PHP50 billion as of end-June. In a statement, Landbank said loans to MSMEs in the first half of the year reached… Read More
Power execs laud PBBM’s commitment to improving business climate
July 26, 2023, 8:18 pm
MANILA – The importance President Ferdinand R. Marcos Jr. has placed on promoting ease of doing business in the country, as made evident during his second State of the Nation Address (SONA), continued to draw positive reactions from the business community, particularly from energy sector… Read More
Fintech firm renews SME financing partnership with DTI
July 26, 2023, 8:16 pm
MANILA – Philippine-based financial technology firm First Circle has renewed its partnership with the Department of Trade and Industry (DTI) to offer financing to small and medium enterprises (SMEs). First Circle shared on Wednesday that its general manager and head of finance Rhys McCoy signed… Read More
BSP term deposit facility posts strong demand, rates up
July 26, 2023, 8:12 pm
MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) was strong on Wednesday as bids exceeded the offering, but rates increased. The BSP reduced the offer volume for the seven-day facility to PHP130 billion from PHP150 billion during the auction on July 19.… Read More
PSEi rises on upward GDP outlook revision, peso ends sideways
July 26, 2023, 8:09 pm
MANILA – Local shares reacted positively to the International Monetary Fund’s (IMF) upward revision of the country’s economic growth forecast, while the peso closed sideways during Wednesday’s trading. The Philippine Stock Exchange index (PSEi) improved by 18.02 points to 6,679.13,… Read More
BTr partially awards T-bonds
July 26, 2023, 5:51 pm
MANILA – The Bureau of the Treasury (BTr) on Wednesday partially awarded bids for the new seven-year Treasury bonds (T-bonds). The coupon rate was set at 6.375 percent. The auction was 1.8 times oversubscribed as the total submitted bids amounted to PHP55.1 billion. The BTr raised PHP24.8… Read More
PEZA: PH lower ranking in outsourcing report 'temporary'
July 26, 2023, 2:25 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga believes that the country’s lower ranking in the Global Services Location Index (GSLI) 2023 of global management consultancy firm Kearney is “temporary.” This, as he noted that initiatives to boost the local… Read More
DBM exec cites priorities under proposed 2024 nat’l budget
July 25, 2023, 8:46 pm
MANILA – Social protection, food security and key infrastructure projects will be the priorities under the 2024 national budget, an official of the Department of Budget and Management (DBM) said Tuesday. During the post-State of the Nation Address (SONA) Philippine Economic Briefing at the… Read More
Connectivity key to luring more RE projects, full electrification
July 25, 2023, 8:43 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla underscored the importance of energy infrastructure that will interconnect the power supply across the country to attract more investments in the renewable energy (RE) sector and full electrification. During the post-State of the… Read More
Manufacturing sector hails PBBM's vow to pursue smugglers
July 25, 2023, 8:13 pm
MANILA – The leadership of the Federation of Philippine Industries (FPI) has lauded President Ferdinand R. Marcos Jr. for spotlighting the country’s smuggling problem and vowing to file charges against smugglers during his second State-of-the-Nation Address (SONA). FPI chairperson Jesus… Read More
