Business
EO 21 to hasten offshore wind projects, says DOE
April 23, 2023, 4:17 pm
MANILA – The Department of Energy (DOE) on Sunday welcomed Executive Order (EO) No. 21 issued by President Ferdinand R. Marcos Jr. as this will hasten the rollout of offshore wind (OSW) projects by mandating policy and administrative framework for the optimal development of OSW resources. DOE… Read More
Bread prices to remain stable throughout summer
April 22, 2023, 6:34 pm
CUENCA, Batangas – The Asosasyon ng mga Panaderong Pilipino (APP) on Saturday assured that the prices of bread and other flour-based products would remain stable, at least for summer. In an interview, APP president Lucito Chavez said suppliers of raw materials have given their assurances that… Read More
Batangas cooperatives resume operations after pandemic
April 20, 2023, 8:33 pm
CUENCA, Batangas – Cooperatives across the province are in the process of resuming operations after majority of them were forced to shut down during the height of the Covid-19 pandemic. In an interview on Wednesday, Celia Atienza, head of the Provincial Cooperative, Livelihood and Enterprise… Read More
Peso, PH stocks end week up as earnings season continues
April 20, 2023, 7:50 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended the shortened week up as the earnings reports season continues while the peso gained against the United States dollar. After a volatile trading during most of this week, the local bourse’s main index gained 1.15 percent, or 74.09… Read More
DTI: Export development plan out by June
April 20, 2023, 5:44 pm
MANILA – The Marcos administration’s export development blueprint will be released on June 9, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said Thursday. In a Palace briefing, Pascual said the Philippine Export Development Plan (PEDP) 2023-2028 will list strategies of the… Read More
Port operator bullish despite inflation
April 20, 2023, 4:19 pm
MANILA – Global port operator International Container Terminal Services, Inc. (ICTSI) is optimistic about its operations this year as economies continue to recover from the pandemic despite challenges brought by higher inflation. During the company’s virtual stockholders’ meeting Thursday,… Read More
RCEP to enter into force in PH June 2
April 20, 2023, 2:41 pm
MANILA – The Regional Comprehensive Economic Partnership (RCEP) will enter into force in the Philippines on June 2, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said Thursday. Tariff commitments under the RCEP will be implemented in the country 60 days after the government… Read More
BSP term deposit facility rates decline
April 19, 2023, 8:16 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) fell on Wednesday, which a ranking central bank official traced to strong demand for the debt paper. The average rate of the seven-day TDF slipped to 6.5902 percent from 6.5939 percent during the auction… Read More
Oil down as markets price in potential interest rate hikes
April 19, 2023, 7:46 pm
ANKARA – Oil prices fell on Wednesday, fueled by growing concerns that major central banks will continue their tightening cycle despite United States data showing a decrease in crude stockpiles, indicating a rebound in demand in the world's largest consuming country. International benchmark… Read More
Bank exec eyes 8-10% loan growth this year
April 19, 2023, 7:43 pm
MANILA – Sy-led BDO Unibank Inc. is considering an 8 to 10 percent loan growth this year on expectations for continued revitalization of the economy. In a briefing on Wednesday, BDO president and chief executive officer (CEO) Nestor Tan said they aim to continue the strong growth of loans, which… Read More
Employers nix legislated wage hike proposal
April 19, 2023, 7:40 pm
MANILA – The Employers Confederation of the Philippines (ECOP) on Wednesday said the PHP150 per day legislated wage hike being sought by the labor sector will not soften the blow of inflation for the vast majority of the country’s workforce, instead it only stands to benefit employees in the… Read More
ADB to fund $19-B projects in PH in 2024
April 19, 2023, 7:38 pm
MANILA – The Asian Development Bank (ADB) will fund 12 projects worth around USD19 billion in the country next year. In the presentation of ADB Philippines Country Director Kelly Bird during the mapping the investment ecosystem forum in Taguig City Wednesday, eight of these projects are in Mega… Read More
PH eyes to surpass inward FDIs of ASEAN neighbors
April 19, 2023, 2:17 pm
MANILA – The Department of Trade and Investments (DTI) targets to exceed foreign direct investment (FDI) inflows of neighboring Association of Southeast Asian Nations (ASEAN) countries during the term of President Ferdinand R. Marcos Jr. In a forum in Taguig City on Wednesday, DTI Undersecretary… Read More
Use of eco-friendly construction materials pushed
April 18, 2023, 8:59 pm
MANILA – Cement maker Holcim Philippines has urged local contractors to use environment-friendly construction materials both for public and private projects. At the press conference of the relaunching of Holcim’s flagship brand Excel ECOPlanet in Pasay City Tuesday, Holcim Philippines… Read More
Antipolo City, South Korean district sign economic dev't pact
April 18, 2023, 8:23 pm
ANTIPOLO CITY – The local governments of Antipolo and Buk-gu in South Korea on Tuesday signed a memorandum of understanding (MOU) toward closer economic ties and seamless information exchange between the two jurisdictions. The landmark document was signed by Mayor Casimiro Ynares III and Buk-gu… Read More
PH gets US trade representative backing for GSP reauthorization
April 18, 2023, 8:10 pm
MANILA – United States Trade Representative Ambassador Katherine Tai has assured her support for the Philippines for the renewal of the US Generalized System of Preferences (GSP), which expired in December 2020. “I have expressed my support to the Congress for the Congress to reauthorize, but… Read More
PH stocks, peso slip as US listed firms report earnings
April 18, 2023, 8:07 pm
MANILA – Earnings reports of some United States listed firms affected investors’ sentiments, resulting in the negative close of the local bourse’s main index which also hurt the peso on Tuesday. After a two-day rally, the Philippine Stock Exchange index (PSEi) shed 0.63 percent, or 40.9… Read More
Not all MSMEs exempted from minimum wage: DOLE
April 18, 2023, 7:09 pm
DUMAGUETE CITY – The Department of Labor and Employment (DOLE) in Negros Oriental on Tuesday said not all micro, small and medium enterprises (MSMEs) are exempted from the implementation of the minimum wage. Ma. Teresa Tanquiamco, DOLE-Negros Oriental provincial director, during a Kapihan sa PIA… Read More
BTr partially awards 13-year T-bond
April 18, 2023, 5:27 pm
MANILA – The freshly-offered 13-year Treasury bond (T-bond) fetched a coupon rate of 6.250 percent on Tuesday, with the debt paper registering oversubscription. The Bureau of the Treasury (BTr) offered the securities for PHP25 billion but the auction committee only awarded PHP19.475 billion.… Read More
Biz group asks PBBM to review tax-free importation of palm oil
April 18, 2023, 4:43 pm
MANILA – The Federation of Philippine Industries (FPI) has urged President Ferdinand R. Marcos Jr., who is also the Department of Agriculture (DA) Secretary, to revisit the agency’s policy on tax- and duty-free importation of palm olein to be used as ingredient for animal feeds. FPI chair… Read More
