Business
Marcos: PH one of fastest growing economies in Asia
July 24, 2023, 5:23 pm
MANILA – Despite the "bleak global prospects," the Philippine economy is one of fastest-growing economies in the world, President Ferdinand R. Marcos Jr. said on Monday. "We are still considered to be among the fastest-growing economies in the Asian region and the world. It is a testament to our… Read More
NEDA calls for investments in agri modernization
July 24, 2023, 3:58 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Monday cited the need to invest in research and technology to increase agricultural output. "In other countries, their agriculture is very modern technology-driven. They're using hybrid [seeds],… Read More
Inflation to settle within gov't’s target in Q4
July 24, 2023, 2:49 pm
MANILA – Finance Secretary Benjamin Diokno is confident that headline inflation will settle within the government's target by the fourth quarter of the year. "Inflation has actually gone down for the fifth consecutive month and we expect it to be within the target range of 2 to 4 percent by the… Read More
Fuel prices up for 2 straight weeks
July 24, 2023, 2:18 pm
MANILA – Oil firms will increase pump prices for two consecutive weeks starting 12:01 a.m. on July 25. In separate advisories, Caltex, Cleanfuel, PTT, Seaoil, and Shell said they will hike gasoline prices by PHP1.35 per liter and diesel by PHP0.45 per liter. Caltex, Seaoil, and Shell will also… Read More
Electricity spot market eyed in Mindoro
July 24, 2023, 1:00 pm Updated on July 24, 2023, 3:05 pm
MANILA – Top executives at the Wholesale Electricity Spot Market (WESM) said they aim to operate in Mindoro island this year. Independent Electricity Market Operator of the Philippines Inc. (IEMOP) president and chief executive officer Richard Nethercott said during a discussion with The… Read More
500k housing units to rise in Tarlac for workers, soldiers
July 23, 2023, 5:36 pm
MANILA – Some 500,000 housing units will be built in New Clark City, Tarlac and are expected to benefit residents and workers in the former air base, families affected by government projects in the area, as well as state employees and members of the Armed Forces of the Philippines. The… Read More
Canadian investors to explore possible investments in PH
July 23, 2023, 11:38 am
MANILA – Some Canadian firms are planning to visit the Philippines in August or September to explore possible investment opportunities, Finance Secretary Benjamin Diokno said over the weekend. Diokno said the Philippine government initially had talks with the investors during the US-Canda… Read More
More jobs, higher land values seen with new Laguna data hub
July 22, 2023, 6:36 pm
SANTA ROSA, Laguna – The unemployment rate in the Calabarzon Region remained relatively low at 5.5 percent as of the Philippine Statistics Authority’s (PSA) survey in April. The same survey also showed that the five-province region had an underemployment rate of 13.3 percent. The numbers will… Read More
Australian investment firm to put up $10-M battery plant in Clark
July 21, 2023, 7:44 pm
MANILA – Australian investment company St Baker Energy Innovation Fund (StBEIF) is pouring in USD10 million worth of investments for a battery manufacturing facility in New Clark City. The Board of Investments (BOI) shared Friday that the investment firm has signed a lease contract with FCGC… Read More
4Ps beneficiaries reminded to enlist with DUs for power discounts
July 21, 2023, 7:42 pm
MANILA – The Department of Energy (DOE) has reminded beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) to register with their respective distribution utilities (DUs) to continue receiving discounts or electricity charges. In a statement Friday, DOE said those who will fail to… Read More
MIF secures P50-B funding from Landbank
July 21, 2023, 7:38 pm
MANILA – The Land Bank of the Philippines' Board approved on Friday the PHP50-billion investment in the Maharlika Investment Fund (MIF), Finance Secretary Benjamin Diokno said. "It is reasonable to expect that the Maharlika Investment Fund will be up and running before the end of 2023," Diokno… Read More
Stocks rise on narrow PH deficit, peso weakens
July 21, 2023, 7:34 pm
MANILA – Investors’ confidence improved on Friday’s trading as reflected in the local bourse, while Philippine peso depreciated against a United States dollar. The benchmark Philippine Stock Exchange index (PSEi) closed with a 34.06 points increase to 6,647.56 level. All shares also… Read More
SEC warns vs. 2 unauthorized investment entities
July 21, 2023, 5:02 pm
MANILA – The Securities and Exchange Commission (SEC) on Friday advised the public not to deal with two unauthorized investment entities operating without the necessary license from the commission. In an advisory, SEC said Lushapple.ph entices the public through social media platforms to invest… Read More
BSP bridges financial literacy gap among Filipinos
July 21, 2023, 12:46 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has vowed to bridge financial literacy gap among Filipinos by educating them on the importance of being “financially healthy”. During the celebration of the 45th anniversary of BPI (Bank of the Philippine Islands) Foundation, BSP Deputy… Read More
Economist sees 6% GDP growth in Q2 2023
July 21, 2023, 11:39 am
MANILA – The Philippine economy is likely to have grown by 6 percent in the second quarter of the year, driven by the growth in consumer spending, an economist said on Friday. Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort told the Philippine News Agency (PNA) that the… Read More
PSEi rallies to 6,600-level on earnings results, peso nearly flat
July 20, 2023, 6:39 pm
MANILA – The local bourse extended its winning streak climbing to 6,600 level on Thursday as investors focused on corporate earnings, while the peso slightly slipped. The Philippine Stock Exchange index (PSEi) ended at 6,613.50, gaining 71.59 points. All shares improved by 25 points to… Read More
7-Eleven licensor bullish on PH market this year
July 20, 2023, 4:45 pm
MANILA – With its record-high net income of PHP2.06 billion in 2022, the Philippine Seven Corp. (PSC), the exclusive licensor of 7-Eleven in the country, is bullish about the growth of convenience stores this year. In a virtual press briefing after its annual stockholders’ meeting Thursday,… Read More
BSP’s TDF posts undersubscription, rates down
July 20, 2023, 2:42 pm Updated on July 20, 2023, 2:43 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) attracted lower bids last Wednesday but a ranking central bank official said the volume of tenders is within their expectations. Central bank reduced the offering for the seven-day TDF to PHP150 billion from PHP190… Read More
Landbank, GSIS sign data sharing deal
July 20, 2023, 2:17 pm
MANILA – The Land Bank of the Philippines (Landbank) and the Government Service Insurance System (GSIS) signed a data-sharing agreement to improve GSIS members' banking experience. Under the agreement signed last July 17, the GSIS will share its members’ data with Landbank to enhance the… Read More
PH to achieve upper middle-income status by 2025
July 19, 2023, 8:13 pm
MANILA – The Philippines is on track to be an upper middle-income country by 2025, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Wednesday. "We are on track and the upper middle-income country status will be achieved in 2025 based on our estimates given… Read More
