Business
Recto: Tapping unused GOCC funds to boost PH economic growth
July 23, 2024, 5:05 pm
MANILA – Finance Secretary Ralph Recto on Tuesday said the utilization of idle funds from two government-owned and controlled corporation (GOCC) will help create more employment and boost economic growth. Recto, during the post-State of the Nation Address (SONA) Discussions at the Hilton Hotel… Read More
DTI chief eyes amendments to intellectual property law
July 23, 2024, 4:45 pm
MANILA – As President Ferdinand R. Marcos Jr. shared his vision of strengthening the country’s innovation ecosystem, the Department of Trade and Industry (DTI) said it aims to introduce amendments to the Republic Act 8293 or the Intellectual Property (IP) Code of the Philippines. At the 2024… Read More
Recto: Gov't to help Filipino POGO workers find new jobs
July 23, 2024, 10:25 am Updated on July 23, 2024, 8:51 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto on Tuesday gave assurance that the agency would help Filipino Philippine Offshore Gaming Operators (POGOs) find new employment. This, after President Ferdinand R. Marcos Jr., in his third State of the Nation Address Monday, ordered the… Read More
DOF chief welcomes President's total POGO ban order
July 22, 2024, 8:57 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto on Monday welcomed President Ferdinand R. Marcos Jr.'s decision to impose a total ban on Philippine Offshore Gaming Operators (POGOs). "I support the President's decision to ban POGO. The cost outweighs the benefits," Recto said in a… Read More
President vows continued support to OFWs
July 22, 2024, 8:46 pm
MANILA – President Ferdinand R. Marcos Jr. on Monday acknowledged the overseas Filipino workers' (OFWs) contribution to the economy and vowed that the government will continue to provide them support. Citing data from the Bangko Sentral ng Pilipinas, Marcos said the OFW remittances amounted to… Read More
EPIRA review to cut electricity costs pushed
July 22, 2024, 8:19 pm
MANILA – President Ferdinand R. Marcos Jr. has urged lawmakers to push for the review of the Electric Power Industry Reform Act of 2001, or the EPIRA law. In his third State of the Nation Address (SONA) Monday, President Marcos said the EPIRA review will re-examine if the current energy policy… Read More
Employment rate up to 95.9%: Marcos
July 22, 2024, 7:54 pm Updated on July 22, 2024, 8:12 pm
MANILA – President Ferdinand R. Marcos Jr. on Monday reported a significant increase in the country's employment rate. "Our employment rate has increased to 95.9%. We also saw a significant increase in high-quality jobs," Marcos said in his third State of the Nation Address on Monday.… Read More
Marcos: Gov't to promote investment-led led growth
July 22, 2024, 7:29 pm Updated on July 22, 2024, 9:01 pm
MANILA – The government will promote investment-led growth to sustain the country's economic gains, President Ferdinand R. Marcos Jr. said on Monday in his third State of the Nation Address (SONA). "In spite of the headwinds that we have faced, we stayed the course. The country exhibits healthy… Read More
Investment pledges generate 202K jobs: PBBM
July 22, 2024, 6:37 pm
MANILA – President Ferdinand R. Marcos Jr., in his 3rd State of the Nation Address (SONA) at the Batasang Pambansa on Monday, said the current investment commitments in the country would create more than 202,000 jobs for Filipinos. “A substantial number of investment pledges have already… Read More
PBBM boasts LuzViMin grid interconnectivity
July 22, 2024, 6:21 pm
MANILA – The interconnectivity of power grids of the three major island groups is touted as one of the critical achievements of the Marcos administration. President Ferdinand R. Marcos Jr. said in his third State of the Nation Address (SONA) Monday that his administration was able to fulfill the… Read More
Marcos admin expanding free trade deals
July 22, 2024, 4:04 pm
MANILA – The Marcos administration continues to diversify its trade partners by forging free trade agreements (FTAs) with various countries. Department of Trade and Industry (DTI) Undersecretary for International Trade Group Allan Gepty said in a recent interview that the country remains on… Read More
Gov't raises P20-B from T-bills auction
July 22, 2024, 2:59 pm
MANILA – The Bureau of the Treasury (BTr) raised PHP20 billion from the Treasury bills (T-bills) auction on Monday. The 91-, 182-, and 364-day T-bills fetched average rates of 5.743 percent, 5.991 percent and 6.081 percent, higher than last week's average auction yield. Last week, the average… Read More
Poverty rate falls to 15.5% in 2023
July 22, 2024, 2:15 pm
MANILA – The country's poverty rate fell to 15.5 percent in 2023 from 18.1 percent in 2021, the Philippine Statistics Authority (PSA) said on Monday. The poverty incidence during the period surpassed the government's 16 percent to 16.4 percent target in the Philippine Development Plan 2023-2028.… Read More
Diesel, kerosene prices down; gasoline up
July 22, 2024, 2:00 pm
MANILA – Oil firms announced mixed price adjustments starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they would increase gasoline prices by 10 centavos per liter while decreasing diesel prices by 40 centavos per liter. Caltex, Seaoil, and… Read More
2 of 10 Aurora eco zone projects left undone near completion
July 21, 2024, 6:09 pm
MANILA — The Aurora Pacific Economic Zone and Freeport Authority (APECO) will inaugurate this month two of 10 projects that were not finished by the past administration. APECO president and chief executive officer Gil Taway IV told the Philippine News Agency (PNA) that it will soon finish… Read More
DTI approves P2.7-T investment projects under PBBM admin
July 21, 2024, 3:41 pm
MANILA – Investment promotion agencies (IPAs) under the Department of Trade and Industry (DTI) logged over PHP2.73 trillion worth of projects between July 2022 to May 2024.The pledges came from 1,090 projects that registered with DTI-attached IPAs Board of Investments (BOI) and Philippine… Read More
PH data center seen to reach 516MW by 2028
July 19, 2024, 9:05 pm
MANILA — The country is expected to have installed a 516-megawatt capacity of data centers by 2028, Fitch Solutions unit BMI said. In its commentary released to the press on Friday, BMI said there were over 400 MW of committed data center capacity from companies over the past 10 months.… Read More
Japanese cement manufacturer inaugurates P12.8-B plant in Cebu
July 19, 2024, 6:33 pm
MANILA – Japanese cement manufacturer Taiheiyo Cement Philippines, Inc. (TCPI) inaugurated its PHP12.8 billion plant in San Fernando, Cebu that will boost the local production and reduce the country’s reliance on imports. On Friday, the Department of Trade and Industry (DTI) said Secretary… Read More
BIR raids 2 QC warehouses with over P700-M ethyl alcohol tax liability
July 19, 2024, 6:20 pm
MANILA – The Bureau of Internal Revenue (BIR) confiscated on Friday 390,000 liters of ethyl alcohol from two warehouses in Balintawak, Quezon City, with an estimate unpaid excise taxes above PHP700 million. "The PHP700 million lost in public funds due to the smuggling or non-payment of excise… Read More
PSEi closes slightly below 6,800 mark; peso stays flat
July 19, 2024, 6:08 pm
MANILA – The local stock market ended the last trading day of the week at slightly below the 6,800 level, while the peso closed almost unchanged. The Philippine Stock Exchange index (PSEi) closed at 6,791.69, up by 86.68 points, while the broader All Shares also rose 24.97 points to 3,627.83.… Read More
