Business
Meralco rates up in August
August 12, 2024, 2:55 pm
MANILA – The Manila Electric Company (Meralco) announced Monday that the power rate in its franchise areas increased by PHP0.0327 per kilowatt hour in August to PHP11.6339 per kWh from PHP11.6012 per kWh rate in July. “For residential customers consuming 200 kWh, the adjustment is equivalent… Read More
Big-time oil price rollback set Tuesday
August 12, 2024, 1:50 pm
MANILA – Motorists and consumers can expect lower fuel prices starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil and Shell said they will slash gasoline prices by PHP2.45 per liter and diesel prices by PHP1.90 per liter. Caltex, Seaoil and Shell will also… Read More
PSEi continues rally for 3rd day, peso ends almost flat
August 9, 2024, 8:53 pm
MANILA – The local stock barometer rallied for three straight days while the peso closed sideways, but better than the previous day’s trading. All counters in the Philippine Stock Exchange index (PSEi) summary closed in the positive territory, with the overall index rising 98.53 points (1.50… Read More
P115-M abandoned projects in Aurora ecozone done in 2024 – exec
August 9, 2024, 7:55 pm
MANILA – The Aurora Pacific Economic Zone and Freeport Authority (Apeco) is targeting to deliver at least PHP115 million worth of abandoned projects within the year. Apeco will inaugurate the PHP60-million central water project phase 1 in October, president and chief executive officer Gil Taway… Read More
PEZA’s 7-month investment approvals create more jobs
August 9, 2024, 6:18 pm
MANILA – The approved investments at the Philippine Economic Zone Authority (PEZA) from January to July this year generated more jobs in ecozones than during the same period in 2023. The PEZA reported Friday that despite the lower number of projects and investment value approved by its Board of… Read More
PH, Czech Republic hold 2nd joint economic meeting
August 9, 2024, 6:02 pm
MANILA — The Philippines and Czech Republic held their second Joint Committee on Economic Cooperation (JCEC) to reaffirm their commitment to boosting economic ties. In a statement Friday, the Department of Trade and Industry (DTI) said the JCEC between the two countries was led by… Read More
P7.5-B Daanbantayan town solar project gets green lane treatment
August 9, 2024, 5:37 pm
MANILA – The Board of Investments (BOI) has granted a certificate of green lane endorsement to Freya Renewables, Inc. for its PHP7.5-billion Daanbantayan solar power project in Cebu. In a statement Friday, the BOI said it awarded the green lane certificate for renewable energy in Daanbantayan… Read More
Banks' non-performing loan ratio at 3.51% in June
August 9, 2024, 4:25 pm
MANILA – The proportion of non-performing loans (NPLs) of Philippine banks to their total loans settled at 3.51 percent in June this year, data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed. The NPL ratio during the month was slightly lower than the 3.57 percent recorded in… Read More
PSA: Share nat'l ID to authorized persons only
August 9, 2024, 2:24 pm
MANILA – The Philippine Statistics Authority (PSA) on Friday warned about unauthorized individuals offering cash in exchange for national identification cards. In an advisory, the PSA said it received reports of individuals directly approaching registered applicants and taking photographs of… Read More
BIR, NBI seize illicit vape products in Rizal bazaar
August 9, 2024, 1:37 pm
MANILA – The Bureau of Internal Revenue (BIR) and the National Bureau of Investigation (NBI) have confiscated 7,920 pieces of illicit vape products at a bazaar in Taytay, Rizal. In a statement on Friday, the BIR said the illicit vape products with an estimated PHP6.82 million tax liability were… Read More
PH's ODA portfolio reaches $37-B in 2023
August 8, 2024, 8:29 pm
MANILA – The Philippines received more than USD37 billion in official development assistance (ODA) loans and grants in 2023. In the 2023 ODA Portfolio Review Report released on Thursday, the National Economic and Development Authority (NEDA) said the country's active ODA portfolio of loans and… Read More
July auto sales grow 6.1%
August 8, 2024, 7:59 pm
MANILA – Local vehicle assemblers increased their sales in July 2024 by 6.1 percent to 39,331 units from 37,096 units in the same month in 2023, the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) said Thursday.… Read More
Stocks, peso gain on Q2 GDP growth
August 8, 2024, 7:41 pm
MANILA – As the government reported a 6.3-percent economic growth for the second quarter of the year, both the local stock market and the currency closed trading in the green territory. The benchmark Philippine Stock Exchange index (PSEi) ended 0.22 percent to 6,549.27 units, with All Shares… Read More
Bicol inflation rate decelerates to 4.4% in July
August 8, 2024, 7:19 pm
LEGAZPI CITY – The Philippine Statistics Authority 5 (PSA-Bicol) reported on Thursday that the inflation rate in the region slowed down from 4.6 percent in June to 4.4 percent in July this year. Based on the summary inflation report, PSA Regional Director Cynthia Perdiz said this brought… Read More
BSP to resume granting of licenses to digital banks
August 8, 2024, 4:52 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Thursday announced that it has lifted the moratorium on issuing new digital banking licenses. Starting Jan. 1, 2025, the BSP will resume granting licenses to digital banks. However, the central bank will only accommodate four licenses as it only… Read More
Bank lending, domestic liquidity up anew in June
August 8, 2024, 2:09 pm
MANILA – Bank lending of universal and commercial banks (U/KBs) sustained its growth while domestic liquidity grew at a slightly faster pace in June, the Bangko Sentral ng Pilipinas (BSP) said. Preliminary data released by the BSP Wednesday showed that banks' outstanding loans, excluding those… Read More
PH economic growth accelerates to 6.3% in Q2 2024
August 8, 2024, 1:44 pm Updated on August 8, 2024, 7:51 pm
MANILA – Philippine economic growth accelerated to 6.3 percent in the second quarter of the year from 4.3 percent in the same period last year, National Statistician Dennis Mapa said in a briefing on Thursday. Mapa said economic growth during the period was also higher than the 5.8 percent gross… Read More
Positive biz environment boosts SM’s double-digit H1 growth
August 7, 2024, 8:31 pm
MANILA — Sy family’s conglomerate SM Investments Corp. increased its net income by 10 percent in the first half of 2024 to PHP40.2 billion from PHP36.5 billion in the same period in 2023. SM Investments president and chief executive officer Frederic DyBuncio attributed the company’s… Read More
Ayala Land backs private construction recovery; faster spending seen
August 7, 2024, 7:53 pm
MANILA — Ayala Land, Inc. (ALI) will accelerate its spending in the second half of the year, supporting the recovery of private construction. During ALI’s analyst briefing for the second quarter of 2024 in Makati City on Wednesday, its chief finance officer Augusto Bengzon said the company… Read More
Local bourse up; peso appreciates on Wednesday
August 7, 2024, 6:53 pm
MANILA – The local stock market rebounded on Wednesday following the rally of Asian and US markets, while the peso closed stronger against the US dollar. The Philippine Stock Exchange index (PSEi) gained 101.93 points to close at 6,535.17, while the broader All Shares, likewise, rose 43 points… Read More
