Business
NEDA optimistic on PH economy's growth prospects
July 25, 2023, 7:55 pm
MANILA – The expansion of the Philippine economy is expected to moderate in the second quarter of the year but the lower end of the government's 6 to 7 percent target will likely still be met, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said Tuesday. "We will… Read More
Maharlika fund to be operational next year
July 25, 2023, 7:47 pm
MANILA – The Maharlika Investment Fund (MIF) is expected to start operations early next year, Finance Secretary Benjamin Diokno said on Tuesday. During the post-State of the Nation Address (SONA) at the Philippine International Convention Center (PICC) in Pasay City, Diokno said the implementing… Read More
Bill reforming MUP pension to be approved before yearend
July 25, 2023, 7:44 pm
MANILA – The bill reforming the military and uniformed personnel (MUP) pension system is expected to be passed within the year, Department of Finance (DOF) Secretary Benjamin Diokno said on Tuesday. "We are pushing for this. The military pension reform is part of the top priority legislative… Read More
Market reactions to policy rate decisions now easier to manage
July 25, 2023, 7:41 pm
MANILA – Managing how markets react to key rate decisions of central banks and developments on inflation is now easier given the change in economic developments as well as the adjustments in the Bangko Sentral ng Pilipinas’ (BSP) policy instruments, a senior BSP official said on Tuesday. In… Read More
PH shares, peso finish strong ahead of Fed policy decision
July 25, 2023, 7:38 pm
MANILA – The local stock barometer and the peso finished strong on Tuesday, a day after President Ferdinand R. Marcos Jr.’s second State of the Nation Address (SONA). The Philippine Stock Exchange index (PSEi) closed trading with 29.86 points increase to 6,661.11, with all counters ending in… Read More
BTr fully awards T-bills
July 25, 2023, 7:36 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for Treasury bills. The 91-, 182-, and 364-day T-bills fetched average rates of 5.611 percent, 5.823 percent, and 6.184 percent, respectively. These are lower than the 5.884 percent, 6.095 percent, and 6.226 percent average… Read More
Nat’l gov’t revenue collections up 7.7% in Jan-June
July 25, 2023, 3:32 pm
MANILA – Revenue collections of the national government already reached PHP1.9 trillion in the first half of the year, Finance Secretary Benjamin Diokno said. In his speech during the post-State of the Nation Address (SONA) at the Philippine International Convention Center (PICC) in Pasay City… Read More
BSP chief cites gains from banking sector reforms
July 25, 2023, 2:01 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. on Tuesday underscored the importance of sustained policy improvement for the banking sector and its gains especially during the pandemic. In a recorded message for the post-State of the Nation Address (SONA) Philippine… Read More
NGCP commits to PBBM’s call to deliver transmission projects
July 25, 2023, 1:04 pm
MANILA – The National Grid Corporation of the Philippines (NGCP) has committed to expedite the completion of critical transmission projects across the country after President Ferdinand R. Marcos Jr. has called out NGCP for its delayed projects in his second State of the Nation Address (SONA).… Read More
PBBM: Infra investments to sustain economic growth
July 24, 2023, 8:45 pm
MANILA – The continued expansion of the Philippine economy will get a further boost from the PHP8.3-trillion “Build Better More” Program, with President Ferdinand R. Marcos Jr. underscoring that the bulk of the 194 infrastructure projects are new projects. In his second State of the Nation… Read More
Stocks end 3-day rally
July 24, 2023, 8:41 pm
MANILA – The Philippine Stock Exchange index (PSEi) slipped on Monday, ending a three-day rally. The local bourse shed 16.31 points, or 0.25 percent, to 6,631.25 level, with all shares also down by 4.19 points to 3,526.71. Philstocks Financial, Inc. research associate Claire Alviar said… Read More
Marcos expects NGCP to ‘complete all its deliverables’
July 24, 2023, 8:37 pm
MANILA – President Ferdinand R. Marcos Jr. expects the National Grid Corporation of the Philippines (NGCP) to deliver all projects that will improve the interconnection of electricity throughout the country. In his second State of the Nation Address (SONA) Monday, Marcos cited an Energy… Read More
Marcos vows to forge more int’l partnerships
July 24, 2023, 7:35 pm
MANILA – President Ferdinand R. Marcos Jr. said on Monday his administration will further expand the country’s partnerships with the international community, especially in terms of strengthening economic and trade relations. In his second State of the Nation Address (SONA), Marcos said that… Read More
PBBM: PH is service export powerhouse
July 24, 2023, 7:33 pm
MANILA – President Ferdinand R. Marcos Jr. on Monday dubbed the country as a “service export powerhouse” during his second State of the Nation Address (SONA). Marcos said that since the services sector is a strength of the Philippines, his administration will nurture the information… Read More
PBBM overseas trips yield P3.9T investments, 175K jobs
July 24, 2023, 7:10 pm
MANILA – President Ferdinand R. Marcos Jr. on Monday said his official overseas visits since he assumed office have attracted investments into the country that will create employment for Filipinos. In his second State of the Nation Address, Marcos said his foreign trips have yielded an estimated… Read More
Maharlika fund to finance high-priority infra projects
July 24, 2023, 6:49 pm
MANILA – President Ferdinand R. Marcos Jr. on Monday said the newly established Maharlika Investment Fund (MIF) would be used to fund high-priority projects. "For strategic financing, some of the nation’s high-priority projects can now look to the newly established Maharlika Investment Fund,… Read More
Congress urged to pass essential tax measures
July 24, 2023, 6:35 pm
MANILA – President Ferdinand R. Marcos Jr. on Monday appealed to Congress to pass the essential tax measures under the Medium-Term Fiscal Framework. In his second State of the Nation Address (SONA), Marcos said these include the excise tax on single-use plastics, value added tax (VAT) on digital… Read More
Marcos vows to pursue gas explorations
July 24, 2023, 5:52 pm
MANILA – In pursuit of searching for new indigenous energy sources, President Ferdinand R. Marcos Jr. has vowed to push for gas explorations in the country. “Aside from Malampaya, we will also push for more gas exploration in other parts of the country,” Marcos said during his second State… Read More
Liberalizing RE accelerates PH clean energy goals
July 24, 2023, 5:50 pm
MANILA – Amendments in the Renewable Energy (RE) Act of 2008 by allowing 100-percent foreign ownership in RE projects have helped in accelerating the country’s clean energy goals, President Ferdinand R. Marcos Jr. said on Monday. In his second State of the Nation Address (SONA), the President… Read More
Marcos admin switches on 8 new power plants
July 24, 2023, 5:47 pm
MANILA – President Ferdinand R. Marcos Jr. said during his second State of the Nation Address (SONA) on Monday that eight new power generation facilities were built during the first year of his term. “This brings to 17 the total number of power generation facilities that have been switched on… Read More
