Business
PSEi rebounds; peso-dollar trading resumes
July 26, 2024, 6:49 pm
MANILA – The local stock barometer rebounded on Friday after Super Typhoon Carina left the Philippine area of responsibility, while the peso-dollar trading resumed after two consecutive days of suspension. The Philippine Stock Exchange index (PSEi) gained 55.74 points closing at 6,726.01, while… Read More
Credit Perception Index of Filipinos improves in 2024
July 26, 2024, 5:15 pm
MANILA – The 2024 Credit Perception Index (CPI) for the Philippines improved by four points, showing improved willingness to embrace credit, private credit reference agency TransUnion said. "Credit Perception Index (CPI) assessed Filipinos' current attitudes and future openness to credit,… Read More
DOF pushes for full implementation of int’l merchandise passport
July 26, 2024, 4:27 pm
MANILA – The Department of Finance (DOF) is pushing for the full implementation of an international merchandise passport that will showcase Filipino-made products globally and provide wider access for local businesses to take advantage of opportunities in foreign markets. In a statement on… Read More
BIR extends tax deadlines in areas hit by Carina, 'habagat'
July 26, 2024, 11:33 am
MANILA – The Bureau of Internal Revenue (BIR) has approved an extension of the submission, filing, and payment of several dues in areas affected by Typhoon Carina and the enhanced southwest monsoon or “habagat.” In a statement on Friday, BIR Commissioner Romeo Lumagui Jr. said the deadline… Read More
Investors’ concern on ‘Carina’ impact pulls down PH shares
July 25, 2024, 8:15 pm
MANILA – The possible impacts of Super Typhoon Carina and the southwest monsoon to the economy dampened investors’ confidence, pulling down the local index in Thursday’s trading. The Philippine Stock Exchange index (PSEi) dropped 1.23 percent, or 82.85 points, to 6,670.27, with All Shares… Read More
Price freeze imposed over NCR, Cainta, 5 provinces
July 25, 2024, 7:42 pm
MANILA – A price freeze is now in place in Metro Manila, five other provinces, and Cainta, Rizal after the declaration of a state of calamity. Bataan, Batangas, Bulacan, Cavite, and Oriental Mindoro were also placed under a state of calamity on Thursday, Department of the Interior and Local… Read More
NIIP to cover repair, rehab of public schools damaged by typhoon
July 25, 2024, 5:22 pm
MANILA – The Bureau of the Treasury (BTr) said it will file a claim under the National Indemnity Insurance Program (NIIP) for the damage incurred by 45 public schools in eight regions due to Typhoon Carina. In a statement on Thursday, the BTr said the NIIP, which began on Jan. 1, 2024, provides… Read More
GSIS allots P18.5-B emergency loans for typhoon victims
July 25, 2024, 4:07 pm
MANILA – The Government Service Insurance System (GSIS) has allocated PHP18.5 billion in emergency loans to help 864,089 members and pensioners affected by Typhoon Carina and the southwest monsoon (habagat) in Batangas, Rizal, and the National Capital Region (NCR). In a statement on Thursday,… Read More
CREATE law attracts P1.2-T investments
July 25, 2024, 3:39 pm
MANILA – More than 1,200 projects with total investments of over PHP1.2 trillion have so far been approved under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act as of end-June this year. In a recent Facebook post, the Department of Finance (DOF) said approved projects… Read More
Transmission lines maintain integrity despite 'Carina’ onslaught
July 25, 2024, 3:17 pm
MANILA – Despite the severe weather conditions brought by Super Typhoon Carina and the southwest monsoon, the National Grid Corporation of the Philippines (NGCP) assured the public on Thursday that it was able to maintain the integrity of its facilities. "As of 12:00 noon, NGCP's transmission… Read More
Meralco's power restoration efforts ongoing
July 25, 2024, 2:57 pm
MANILA – The Manila Electric Company (Meralco) on Thursday said it is targeting to cut in half the number of customers experiencing power interruptions amid the impacts of Super Typhoon Carina and the southwest monsoon. In a press briefing, Meralco vice president and head of corporate… Read More
DTI activates monitoring team to enforce price freeze
July 25, 2024, 9:10 am
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said Wednesday the agency activated its monitoring team to check if supermarkets and groceries are following the price freeze in areas declared under a state of calamity due to Typhoon Carina and the southwest monsoon.… Read More
DOE: Transmission lines up by 10% in Marcos admin
July 24, 2024, 5:06 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla said the Marcos administration was able to fast-track the completion of transmission line projects that will stabilize the power situation and reduce the electricity rates across the country. During the 2024 Post-State of the Nation… Read More
GCF OKs project to empower PH green entrepreneurs
July 24, 2024, 3:51 pm
MANILA – The Green Climate Fund (GCF) Board approved USD1 billion worth of climate adaptation and mitigation projects, including a project that will empower Philippine green entrepreneurs to promote climate-resilient development. In a statement in Wednesday, the Department of Finance (DOF) said… Read More
Meralco to restore electricity once flooding subsides
July 24, 2024, 3:50 pm
MANILA – The Manila Electric Company (Meralco) assured its customers on Wednesday that power restoration will be immediately done once floodwaters subside in areas affected by Typhoon Carina and the southwest monsoon (habagat). "We are also closely monitoring the flooded areas. Our teams will… Read More
Budget deficit declines in June
July 24, 2024, 1:54 pm
MANILA – The national government’s budget deficit went down to PHP209.1 billion in June from PHP225.4 billion a year ago as revenue collection grew faster than government expenditures. The Bureau of the Treasury's (BTr) cash operations report released on Wednesday showed that revenues during… Read More
BTr fully awards re-issued T-bonds
July 23, 2024, 8:22 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the re-issued 20-year Treasury bonds (T-bonds). With a remaining term of 19 years and 10 months, the re-issued bond fetched an average rate of 6.430 percent. The comparative PHP Bloomberg Valuation Service rate was slightly lower… Read More
PH hits target of digitalizing 50% of retail payments
July 23, 2024, 8:07 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said Tuesday the goal to raise the share of digital payments in retail transactions to 50 percent for 2023 has been achieved. In a statement, the BSP, citing the results of its 2023 Report on E-Payments Measurement, said the share of digital payment… Read More
ARTA wants biz process in all LGUs cut by half this year
July 23, 2024, 7:40 pm
MANILA – The Anti-Red Tape Authority (ARTA) has urged all local government units (LGUs) to reduce the number of steps and time of processing business applications by half before the year ends. This, as President Ferdinand R. Marcos Jr. in his third State of the Nation Address (SONA) called on… Read More
Good time to buy condo as POGO exodus corrects pricing: Colliers PH
July 23, 2024, 6:07 pm
MANILA – While the order of President Ferdinand R. Marcos Jr. for a total ban of Philippine offshore gaming operators (POGOs) may hurt real estate developers, particularly the condominium market, it also opens opportunity to local investors to buy residential units at a corrected price. Colliers… Read More
