Business
PH peso improves to P57-level but stock gauge slips
October 28, 2022, 8:44 pm
MANILA – The Philippine peso gained against the US dollar ahead of the long weekend holiday but the local equity market’s main index finished down after rallying for most part of the week. The local currency appreciated to PHP57.97 from its PHP58.22 close on Thursday, which an economist said… Read More
Energy firms told to deliver projects on time
October 28, 2022, 7:26 pm
MANILA – The Department of Energy (DOE) on Friday urged companies to complete their generation and transmission projects on time to ensure adequate supply and delivery of power to consumers. During the Virtual Energy Investment Forum, DOE Director Irma Exconde said delays in the completion of… Read More
DOE readies amendments to Renewable Energy Act
October 28, 2022, 7:18 pm
MANILA – Department of Energy (DOE) Secretary Rapahel Lotilla on Friday said the agency is preparing the amendments to the implementing rules and regulations (IRR) of the Renewable Energy Act of 2008 to allow 100 percent foreign equity on renewable energy projects. During the Virtual Energy… Read More
PAL targets net zero carbon emission by 2050
October 28, 2022, 7:14 pm
MANILA -- Flag carrier Philippine Airlines (PAL) announced Friday it is eyeing to achieve net zero carbon emission by 2050. The airline is investing in an all-out carbon reduction program as part of a multi-year commitment to combat climate change. This initiative, PAL said, "comes at a crucial… Read More
Economists cite gains, add'l measures for PH credit rating
October 28, 2022, 7:06 pm
MANILA – Fitch Ratings' affirmation of its investment-grade rating on the Philippines is seen to attract foreign investments even as economists cited the need for more fiscal measures. On Thursday, Fitch Ratings retained the country's “BBB” rating with negative outlook as it sees domestic… Read More
Drop in debt-to-GDP ratio seen to encourage foreign investments
October 27, 2022, 8:58 pm
MANILA – An economist considers the decline in the share of government debt to the domestic output as a bright spot in fiscal management and may help lift investors’ sentiment and encourage more investments into the country. On Thursday, the Bangko Sentral ng Pilipinas (BSP) reported the… Read More
BTr sets P215-B borrowing program for November
October 27, 2022, 8:54 pm
MANILA – Government borrowings for November 2022 have been set at PHP215 billion, higher than this month’s PHP200 billion. “Because (it is for) five weeks,” National Treasurer Rosalia de Leon told journalists in a Viber message. Data released by the Bureau of the Treasury (BTr) on… Read More
Firm to roll out 20 e-vehicle charging hubs in Luzon
October 27, 2022, 8:15 pm
MANILA – Ayala Land, Inc. (ALI) has announced it will activate at least 20 e-vehicle charging stations in Luzon as it supports the government’s goal to develop the country’s electric vehicle industry. The company launched its integrated e-vehicle charging stations on Thursday, bringing… Read More
Peso strengthens, PSEi sustains rise amid risk-on sentiments
October 27, 2022, 7:39 pm
MANILA – Risk-on sentiments sustained the rise of the local bourse’s main index on Thursday while the peso followed and improved against the US dollar. The Philippine Stock Exchange index (PSEi) gained by 1.78 percent, or 109.05 points, to 6,230.58 points. All Shares trailed with a jump of… Read More
PEZA-registered IT-BPM firms may transfer to BOI until year-end
October 27, 2022, 3:36 pm
MANILA – The Philippine Economic Zone Authority (PEZA) said registered information technology and business process management (IT-BPM) in economic zones may transfer their registration to the Board of Investments (BOI) until December 31 this year to enjoy the 100-percent work-from-home (WFH)… Read More
Gov’t posts P179.8-B budget gap in September
October 26, 2022, 8:47 pm
MANILA – Lower year-on-year growth of spending against revenues resulted in the drop in the government’s budget gap in September 2022 to PHP179.8 billion from year-ago’s PHP180.9 billion. Data released by the Bureau of the Treasury (BTr) on Wednesday showed that total expenditures in the… Read More
TDF rates up anew, 7-day facility posts undersubscription
October 26, 2022, 8:36 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose anew on Wednesday and the shorter tenor facility registered undersubscription ahead of the long weekend holiday. Data released by the central bank showed that the average rate of the seven-day facility… Read More
PSEi up on positive earnings reports; peso ends stronger
October 26, 2022, 8:11 pm
MANILA – The local bourse’s main index gained anew on Wednesday amidst the drop in United States bond yields while the peso improved against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.79 percent, or 48.12 points, to 6,121.53 points. All Shares followed with a jump of… Read More
Bank exec eyes 2.8M downloads on lifestyle, payment app
October 26, 2022, 8:07 pm
MANILA – An official of the Bank of the Philippine Island (BPI) forecasts 2.8 million downloads on its latest lifestyle and payment app, Vybe, until the end of the year. In a virtual briefing on Wednesday, BPI Digital Partnerships and Ecosystems head Frederick Faustino said downloading of the… Read More
PH gets 4 investment leads in SoKor investment mission
October 26, 2022, 7:13 pm
MANILA – At least four big companies from South Korea are interested to invest in the country in the coming months following the recent investment mission of the Philippine Economic Zone Authority (PEZA) and Aboitiz InfraCapital in Seoul. PEZA officer-in-charge Deputy Director General for… Read More
Firm installs infra for planned wind power project in Quezon
October 26, 2022, 6:28 pm
MANILA – Renewable energy firm Alternergy has installed a meteorological (met) mast in Alabat Island, Quezon in preparation for its planned 50-megawatt (MW) Alabat wind power project. In a statement Wednesday, Alternergy said the installation of its latest met mast is in line with the… Read More
BSP updating circular on legal tender limit of P20 coin
October 26, 2022, 5:57 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is now updating its circular regarding the legal tender limit for the PHP20 coin, the latest addition to the country’s legal tenders. In an advisory issued on Wednesday, the central bank urged the public to use coins that are currently in… Read More
PEZA eyes more high-tech investments from Taiwan
October 26, 2022, 5:26 pm
MANILA – The Philippine Economic Zone Authority (PEZA) aims to attract more investments in high-technology industries from Taiwan following the country’s investment mission in the East Asian economy this week. In a Facebook post, PEZA officer-in-charge and Deputy Director General Tereso Panga… Read More
BOC-Port of Clark exceeds collection target
October 26, 2022, 2:53 pm
CITY OF SAN FERNANDO, Pampanga – The Bureau of Customs (BOC)-Port of Clark has surpassed its October collection target, even a few days before the month's end. BOC-Clark has exceeded its monthly target since January this year. A report from the Collection Division showed that the port's revenue… Read More
BTr partially awards 13-year T-bond
October 25, 2022, 8:52 pm
MANILA – The Bureau of the Treasury (BTr) partially awarded on Tuesday the 13-year Treasury bond (T-bond) as demand remained strong. It offered the debt paper for PHP35 billion and bids reached PHP46.988 billion. However, the auction committee only awarded PHP26.139 billion worth of… Read More
