Business
PEZA seals 2 accords with Japanese firms
November 22, 2022, 4:54 pm
MANILA – The Philippine Economic Zone Authority (PEZA) on Tuesday said it signed two agreements with Japanese firms with the aim to attract more investments in the country’s renewable energy and manufacturing sectors. In a statement, PEZA said it signed a memorandum of understanding (MOU) with… Read More
Alternergy, Shell tie up for offshore wind projects in PH
November 22, 2022, 3:46 pm
MANILA – Renewable energy firm Alternergy Holdings Corp. and Shell announced Tuesday their partnership to develop offshore wind projects in the country. The partnership with Shell will be through Alternergy's unit Pililla AVPC Corp. In a press conference in Makati City, Alternergy chairperson… Read More
DTI OKs price hikes on Noche Buena items
November 22, 2022, 11:14 am
MANILA – The Department of Trade and Industry (DTI) has approved the increase in prices of 195 out of 223 stock keeping units (SKUs), including Noche Buena staples such as ham and quezo de bola. The agency is expected to release the price guide for Noche Buena products on Nov. 23 which also… Read More
BOI optimistic of surpassing 2021 investment approvals
November 21, 2022, 6:48 pm
MANILA – The Board of Investments (BOI) reported that it approved PHP644.4 billion worth of investments as of Nov. 15. In a media roundtable Monday, Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said the investment promotion agency is optimistic that it will surpass the investment… Read More
PSEi snaps rally ahead of key data releases; peso ends sideways
November 21, 2022, 6:01 pm
MANILA – The main stock index closed lower on Monday ahead of the shortened week for Wall Street but the peso managed to end the day sideways against the United States dollar. The Philippine Stock Exchange index (PSEi) shed 0.53 percent, or 34.14 points, to 6,403.24 points. All Shares followed… Read More
Big-time rollback on diesel, kerosene prices on Nov. 22
November 21, 2022, 5:57 pm
MANILA – Oil firms will implement big-time price rollbacks for diesel and kerosene as well as less than 50 centavos price cut for gasoline starting this Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix Petroleum, PTT, Seaoil and Shell said they will cut gasoline… Read More
DOST releases P1.5-M aid for abaca weaving project in Catanduanes
November 21, 2022, 5:22 pm
LEGAZPI CITY – The Department of Science and Technology (DOST) has released PHP1.5 million in fund assistance for the modernization of the abaca weaving industry in Catanduanes through the Small Enterprise Technology Upgrading Program (SETUP). In an interview on Monday, Marie Grace Molina,… Read More
T-bill rates end in different directions
November 21, 2022, 5:01 pm
MANILA – The rates of Treasury bills (T-bills) registered mixed movements on Monday with the 91-day down, results of the auction by the Bureau of the Treasury (BTr) showed. The average rate of the three-month paper declined to 4.375 percent from 4.464 percent during the auction last Nov. 14. The… Read More
Fitch Solutions eyes BSP rate peak by H1 2023
November 21, 2022, 4:36 pm
MANILA – Fitch Solutions Country Risk & Industry Research forecasts additional 75 basis points increase in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates until the first half of 2023 on expectations of sustained elevated inflation rate. In a report dated Nov. 18, 2022, the unit of… Read More
BSP 28-day bill rate up anew
November 18, 2022, 7:59 pm
MANILA – Rate of Bangko Sentral ng Pilipinas’ (BSP) 28-day T-bills rose anew on Friday following another 75 basis points in the central bank’s key rates a day ago. Average rate of the debt securities rose to 5.8005 percent from 5.5930 during the auction last Nov. 11. BSP kept the offer… Read More
PH among the leaders in digitalization of financial sector
November 18, 2022, 7:32 pm
MANILA – The success of payment system digitalization varies but an official of Western Union said the Philippines is among the leaders in this field. In a briefing on Friday, Western Union President for Middle East and Asia Pacific Jean Claude Farah said governments around the globe bids… Read More
PH stocks index, peso finish week on positive territory
November 18, 2022, 6:22 pm
MANILA – Risk on sentiments reigned in the local bourse on Friday amidst investors’ wait-and-see stance on policy rate path indications from Federal Reserve officials and the peso ended the week sideways. The Philippine Stock Exchange index (PSEi) rose by 0.53 percent, or 33.64 points, to… Read More
PH, SoKor target to sign free trade deal in Q1 2023
November 18, 2022, 5:49 pm
MANILA – Manila and Seoul target to conclude discussions of their bilateral free trade agreement (FTA) in order to sign the trade pact by first quarter of next year, the Department of Trade and Industry (DTI) said Friday. At the sidelines of the Asia Pacific Economic Cooperation (APEC) Summit… Read More
Economist eyes inflation peak in Q4
November 17, 2022, 9:16 pm
MANILA – Upward adjustments in the Bangko Sentral ng Pilipinas’ (BSP) average inflation for this and next year are expected as another sign for the possibility for further hikes in the central bank’s key rates, an economist said. On Thursday, the BSP adjusted to 5.8 percent from 5.4 percent… Read More
PH stocks index up, peso ends sideways
November 17, 2022, 9:12 pm
MANILA — Another rise of the local bourse’s main index was registered on Thursday ahead of the announcement about the 75 basis points increase in the central bank’s rate but the peso depreciated. The Philippine Stock Exchange index (PSEi) rose by 0.18 percent, or 11.65 points, to 6,403.74… Read More
Local, foreign biz groups welcome changes in RE Act IRR
November 17, 2022, 8:04 pm
MANILA – Both local and foreign business groups have welcomed the recent amendments to the implementing rules and regulations in the Renewable Energy Act, which allows 100 percent foreign equity in renewable energy projects. In separate statements, the Makati Business Club (MBC) and the… Read More
BSP delivers another 75 bps rate hike
November 17, 2022, 7:17 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) delivered its earlier bid for a 75 basis points rate increase on Thursday, citing that risks to inflation continue to be on the upside but noted that economic recovery will cushion the impact of the tightening moves. Effective Nov. 18, the central… Read More
C. Luzon farmers offer specialty products at regional trade fair
November 17, 2022, 6:10 pm
CITY OF SAN FERNANDO, Pampanga – Agrarian reform beneficiaries in Central Luzon took the center stage to offer to the public a wide array of quality products as the Department of Trade and Industry (DTI) launched on Thursday the four-day CARP Regional Trade Fair at Ayala Marquee Mall in Angeles… Read More
DTI eyes P15-M sales in ‘Panublion’ trade fair
November 17, 2022, 6:05 pm
ILOILO CITY – The Department of Trade and Industry (DTI) is hoping for at least PHP13 million in total sales as it gathered 181 micro, small and medium entrepreneurs (MSMEs) for the 2022 “Panublion” (heritage) trade fair from Nov. 16-20 at the SM City here. "We will have a selling mission… Read More
Marcos eyes EO to lure offshore wind investments: DOE chief
November 17, 2022, 3:40 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla said President Ferdinand R. Marcos Jr. aims to issue an executive order (EO) to facilitate more offshore wind investments in the country. In a media briefing Thursday, Lotilla said the EO will complement the newly amended… Read More
