Business
NEDA Board OKs changes in Laguna Lakeshore road project
July 16, 2024, 6:36 pm
MANILA – The National Economic and Development Authority (NEDA) Board chaired by President Ferdinand R. Marcos Jr. recently approved key changes to the Laguna Lakeshore Road Network (LLRN) Project and also set terms for the Bohol and Laguindingan airports. In a statement on Tuesday, the NEDA… Read More
DTI seizes nearly P90-M of uncertified goods, vape units
July 16, 2024, 4:00 pm
MANILA – The Department of Trade and Industry’s (DTI) Task Force Kalasag has confiscated a total of PHP89.76 million worth of uncertified and non-compliant products and vape units as of July 15. In a press conference in Makati City Tuesday, Fair Trade Enforcement Bureau (FTEB) Director Fhilip… Read More
PH likely to post one of strongest growths in ASEAN
July 16, 2024, 3:55 pm
MANILA – The Philippine economy is projected to grow by over 6 percent in 2024 and 2025, making the country the second fastest-growing economy in the region. In its latest quarterly update of the ASEAN+3 Regional Economic Outlook (AREO) released on Tuesday, the ASEAN+3 Macroeconomic Research… Read More
BIR: Online sellers now subjected to withholding tax
July 16, 2024, 12:40 pm
MANILA – The Bureau of Internal Revenue (BIR) on Tuesday said electronic marketplace operators are now imposing withholding tax on sellers or merchants. "Electronic marketplace operators will begin imposing withholding tax against their sellers/merchants starting July 15, 2024. We have already… Read More
DTI chief says 'Tatak Pinoy' crucial in PBBM’s industrial policy
July 15, 2024, 8:43 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the “Tatak Pinoy” initiative is a cornerstone of the government’s industrialization strategy. During a forum at Philippine International Convention Center in Pasay City on Monday, Pascual emphasized the role of… Read More
PSEi strong, peso weak on Monday
July 15, 2024, 7:52 pm
MANILA – The local index closed the day stronger as investors kept their hopes up that the Bangko Sentral ng Pilipinas (BSP) is on track to cutting policy rates as early as August. In Monday’s trading, the Philippine Stock Exchange index (PSEi) increased by 0.62 percent to 6,689.37, while All… Read More
Remittances from overseas Filipinos up over 3% in May
July 15, 2024, 7:50 pm
MANILA – Personal remittances from overseas Filipinos (OFs) went up by 3.7 percent in May this year, the Bangko Sentral ng Pilipinas (BSP) said. Data released by the BSP on Monday showed that personal remittances from OFs during the month rose to USD2.88 billion from USD2.78 billion in May 2023.… Read More
DOF: Mobilizing unused GOCC funds better than imposing new taxes
July 15, 2024, 5:48 pm Updated on July 16, 2024, 5:02 pm
MANILA – The Department of Finance (DOF) on Monday said utilizing unused government-owned and controlled corporation (GOCC) funds for public programs is a more prudent fiscal option than borrowing more or imposing new taxes. The DOF made the statement after health reform advocates earlier… Read More
ATA Carnet in PH now online
July 15, 2024, 5:07 pm
MANILA – The Philippines started the implementation of the ATA Carnet System on Monday, joining over 80 countries and customs territories that use this trade facilitation tool. As the Philippines now uses the “passport of goods”, this will allow exporters to enjoy duty- and value-added… Read More
BTr raises PHP22.6-B from T-bills auction
July 15, 2024, 3:57 pm
MANILA – The Bureau of the Treasury (BTr) on Monday raised more than the initial offering of PHP20 billion during the Treasury bills (T-bills) auction. "The auction was 2.3 times oversubscribed, attracting P46.7 billion in total tenders. As a result, the committee decided to double the accepted… Read More
Oil price rollback set July 16
July 15, 2024, 1:51 pm
MANILA – Pump prices will be lower by as much as PHP1.15 per liter on July 16, driven by falling crude prices in the global market, snapping its four-week rally. Oil companies announced in separate advisories on Monday they will cut gasoline prices by PHP0.60 per liter and PHP0.95 per liter for… Read More
Hefty increase in Meralco rate in July
July 15, 2024, 1:46 pm
MANILA – Residential customers of the Manila Electric Company (Meralco) consuming 200 kilowatt hours (kWh) a month should expect around a PHP430 increase in their electricity bill this month. Meralco announced Monday that power rate in its franchise areas in July increased by PHP2.1496 per kWh,… Read More
PEZA approves more projects in H1 2024
July 14, 2024, 2:27 pm
MANILA — The Philippine Economic Zone Authority (PEZA) reported higher number of projects registered in the first half of the year. From January to June, PEZA registered 120 projects, which was 18 percent higher than the 102 projects it approved in the same period in 2023. “The approval of… Read More
Power subsidy for investors eyed in CREATE MORE bill
July 14, 2024, 1:11 pm
CAPAS, Tarlac — The government is pushing for additional power subsidies to investors to entice more foreign direct investments (FDIs) into the country, Department of Energy Undersecretary Felix William Fuentebella said in a recent forum here. He said economic managers are considering the policy… Read More
New Clark City lures P143-B investments
July 12, 2024, 8:30 pm
CAPAS, Tarlac – Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Joshua Bingcang said the New Clark City has attracted PHP143.22 billion worth of investments since its masterplan was finalized in 2017. During the Build Better More Infrastructure Forum here… Read More
DTI urges cement manufacturers to get Tatak Pinoy certification
July 12, 2024, 7:04 pm
MANILA – The Department of Trade and Industry (DTI) has urged local cement manufacturers to apply for Tatak Pinoy certification as the government promotes Philippine-made products, especially in government procurement. On Friday, the DTI said in a statement that it awarded the first Domestic… Read More
Stocks continue to rebound, peso flat on Friday
July 12, 2024, 6:38 pm
MANILA – The local stock market continued to rebound on Friday as investors got assurance that the Fed will likely cut rates, while the peso stayed flat. The Philippine Stock Exchange index (PSEi) went up by 38.99 points to 6,648.23, while All Shares also gained 20.54 points to 3,576.22. "The… Read More
CIAC: Phase 1 of P8.5-B Nat'l Food Hub done by 2027
July 12, 2024, 4:45 pm
MANILA – The Clark International Airport Corp. (CIAC) said the first phase of the PHP8.5-billion National Food Hub at the Clark Airport Complex is expected to be completed by the end of 2027. "Included in Phase 1 are the cold storage facilities. Then the administrative offices of the ones that… Read More
Bank lending, domestic liquidity up in May
July 12, 2024, 4:10 pm
MANILA – Bank lending of universal and commercial banks (U/KBs) and domestic liquidity grew faster in May this year, the Bangko Sentral ng Pilipinas (BSP) said Friday. Preliminary data released by the BSP showed that banks' outstanding loans, excluding those placed in the central bank’s… Read More
BSP issues advisory against scams
July 12, 2024, 4:02 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Friday reminded the public to be more vigilant against scams using artificial intelligence (AI) to create or manipulate fake videos and audio to make them appear more believable. "Perpetrators of these fraudulent activities post AI-manipulated… Read More
