Business
35 Cebu establishments get DTI seal for responsible practices
July 5, 2023, 6:48 pm
CEBU CITY – A total of 35 establishments in Cebu province received recognition for consistently complying with consumer laws and adopting best practices in running their businesses, the provincial office of the Department of Trade and Industry (DTI) said on Wednesday. In a statement, Rose Mae… Read More
Economists, retailers say price pressures easing despite threats
July 5, 2023, 6:28 pm
ANTIPOLO CITY – Both economists and retailers welcomed the easing of price pressures in the country even as they pointed out the presence of factors that could trigger another inflationary uptick. This came in reaction to Wednesday’s release by the Philippine Statistics Authority of its report… Read More
DTI welcomes proposed 4-yr extension of EU GSP+
July 5, 2023, 5:56 pm
MANILA – The Department of Trade and Industry (DTI) has welcomed the proposal of the European Commission to extend the generalized tariff preferences, including the Generalized Scheme of Preferences Plus (GSP+) for the Philippines, for another four years. In a statement Wednesday, DTI Secretary… Read More
Groups ‘wish’ PBBM to tackle Open Access Act in SONA
July 5, 2023, 5:54 pm
MANILA – At least 10 groups from the private sector wished that President Ferdinand R. Marcos Jr. will make a statement on the Open Access in Internet Services (OAIS) Act in his second State of the Nation Address (SONA) this month. In a press conference in Makati City Wednesday, these groups… Read More
PSA: 1 in 5 households own other lands in 2020
July 5, 2023, 5:51 pm
MANILA – Some 5.32 million households or 20.2 percent of the total 26.38 million households own at least one land apart from the land that they own or occupy, the Philippine Statistics Authority (PSA) on Wednesday reported. The PSA cited results of the 2020 Census of Population and Housing… Read More
PH seen to narrow deficit to 4% of GDP this year
July 5, 2023, 5:48 pm
MANILA – BMI, a unit of Fitch Solutions, has projected that the country’s current account deficit will ease to 4 percent of gross domestic product (GDP) this year from 4.4 percent of GDP in 2022. In a commentary released to the press Wednesday, BMI said the country’s deficit has been… Read More
PH inflation further decelerates to 5.4% in June
July 5, 2023, 11:24 am
MANILA – The Philippines' headline inflation further decelerated in June, registering its lowest rate in 15 months. In a briefing on Wednesday, National Statistician Dennis Mapa said headline inflation further slowed to 5.4 percent in June from 6.1 percent in May, the lowest rate recorded since… Read More
BIR padlocks Makati resto, 4 branches for tax violations
July 4, 2023, 9:13 pm
MANILA – The Bureau of Internal Revenue (BIR) has temporarily closed a Chinese restaurant in Makati City and its four branches for various tax violations. The BIR said the Revenue Region No. 8A-Makati City's “Oplan Kandado” team padlocked Shanzhen Haiwei Food Corp. (Shanzhen) on June 29,… Read More
Stocks, peso gain amid economic data releases
July 4, 2023, 7:20 pm
MANILA – Both the local stock market and currency ended Tuesday with gains. The Philippine Stock Exchange index (PSEi) closed Tuesday’s trading with an increment of 6.26 points to 6,514.47. All shares also improved by 5.11 points to 3,472.53. Half of the counters ended in the green while the… Read More
DTI invites high-tech Dutch firms to invest in PH
July 4, 2023, 5:31 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has invited high-tech Dutch companies to invest in the Philippines as the country offers highly skilled talents. In a statement Tuesday, DTI said Pascual met high-tech companies based in the Netherlands last June 30.… Read More
BTr partially awards T-bonds
July 4, 2023, 4:33 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday partially awarded the reissued 10-year Treasury bonds (T-bonds). With nine years and two months to maturity, the bond was capped at an average rate of 6.562 percent. In a comment, Rizal Commercial Banking Corp. chief economist Michael Ricafort… Read More
DOF welcomes PH's higher rankings in investor relations
July 4, 2023, 10:35 am
MANILA – Finance Secretary Benjamin Diokno welcomed the Philippines’ standing in the 2023 Investor Relations and Debt Transparency Report released by the Institute of International Finance (IIF) last month. “The Department of Finance owes this feat to the concerted investor relations efforts… Read More
Hog raisers say big piggeries also suffer due to ASF
July 3, 2023, 8:23 pm
ANTIPOLO CITY – Local hog raisers on Monday urged the government to also extend support to pork integrators who are currently battling an outbreak of African swine fever (ASF) in their farms. In an interview, Edwin Chen, past president of the Pork Producers Federation of the Philippines… Read More
BIR reminds biz owners to issue receipts, sales invoices
July 3, 2023, 7:26 pm
MANILA – The Bureau of Internal Revenue (BIR) on Monday reminded all sellers of their obligation to automatically issue a receipt or invoice for each service rendered or sale of goods. Starting this month, all business owners must display in their respective establishment or website or social… Read More
BTr partially awards T-bills
July 3, 2023, 7:23 pm
MANILA – The Bureau of the Treasury (BTr) on Monday partially awarded bids for Treasury bills (T-bills). The rates for the 91-, 182-, and 364-day T-bills were capped at 6.150 percent, 6.266 percent, and 6.286 percent, respectively. "Treasury bill average auction yields continued to go up for the… Read More
PH seeks stronger economic ties with Netherlands
July 3, 2023, 7:20 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has expressed to the Dutch government and businesses the need to further strengthen bilateral economic ties between the Philippines and the Netherlands. This, as Pascual led the Philippine delegation to The Hague in a… Read More
Fuel price rollback effective July 4
July 3, 2023, 4:22 pm
MANILA – Oil companies will roll back pump prices starting July 4 following a price hike last week. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix, Seaoil, Shell, and Unioil said they will cut gasoline and diesel prices by PHP0.70 per liter. Caltex, Seaoil, and Shell will… Read More
PH posts moderate manufacturing score in June
July 3, 2023, 3:56 pm
MANILA – The S&P Global Manufacturing Purchasing Managers’ Index (PMI) reported a moderated growth for the Philippines’ manufacturing sector in June this year. In its monthly manufacturing PMI report released Monday, S&P Global said the domestic sector posted an index of 50.9 in June, which… Read More
NEDA: Marcos admin's policies to help PH return to high growth
July 2, 2023, 5:45 pm Updated on July 12, 2023, 4:40 pm
MANILA – The Philippine economy remains on track to returning to its high-growth trajectory, backed by several initiatives implemented by President Ferdinand R. Marcos Jr.'s administration. "One year into the Marcos Presidency, the Philippine economy remains firmly on track as it returns to its… Read More
National gov't provides PHP7.3B subsidies to GOCCs
July 2, 2023, 1:54 pm
MANILA – The national government's subsidies for government-owned and controlled corporations (GOCCs) amounted to PHP7.38 billion in May. Data from the Bureau of the Treasury (BTr) showed the amount was slightly lower than the PHP7.9 billion in the same month last year. The National Irrigation… Read More
