Business
Private construction seen to return to pre-Covid level next year
July 12, 2024, 2:49 pm
CAPAS, Tarlac – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said private construction may return to pre-pandemic level next year with the easing of inflation and interest rates. At the Build Better More Infrastructure Forum here Friday, Balisacan said the… Read More
PH vehicle sales up 11.8% in H1 2024
July 12, 2024, 10:59 am
MANILA – Automotive vehicle sales in the country improved by 11.8 percent from January to June 2024 to 226,279 units from 202,415 units in the same period in 2023. The joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association… Read More
BOI okays nearly P1-T projects in H1 2024
July 11, 2024, 9:29 pm
MANILA – The Board of Investments (BOI) has already approved nearly PHP1 trillion worth of projects in the first six months of the year, the agency reported on Thursday. The BOI said in a statement that investment approvals from January to June 2024 jumped 36 percent to PHP950 billion from… Read More
Echelon’s startup confab to debut in PH
July 11, 2024, 8:53 pm
MANILA – Singapore-based tech and startup media platform e27 is bringing the Echelon business conference in the Philippines for the first time. Happening on Sept. 26 to 27 at the SMX Convention Center Manila, Echelon Philippines 2024 brings together startup founders, entrepreneurs, investors,… Read More
PH’s first cable car may operate in 2028
July 11, 2024, 8:46 pm
CAPAS, Tarlac – The country’s first cable car service could possibly operate in 2028 in Rizal province, Department of Transportation (DOTr) Undersecretary Timothy John Batan said. During the Build Better More Infrastructure Forum in New Clark City on Thursday, Batan said the Asian Development… Read More
PSEi rebounds, peso closes almost flat on Thursday
July 11, 2024, 6:10 pm
MANILA – The local stock market rebounded on Thursday, driven by the positive spillovers from Wall Street, while the peso closed almost flat against the dollar. The Philippine Stock Exchange index (PSEi) gained 119.89 points to 6,609.24, while All Shares rose 45.64 points to 3,555.68. "The local… Read More
Banks' total assets up more than 12% in May
July 11, 2024, 3:59 pm
MANILA – The total assets of the Philippine banking sector went up by 12.4 percent as of end-May this year, data from the Bangko Sentral ng Pilipinas (BSP) showed. Data released by the BSP on Thursday showed that the total assets of the country's banking sector amounted to PHP25.62 trillion,… Read More
DTI vows to craft comprehensive steel industry roadmap
July 11, 2024, 2:57 pm
MANILA – Following President Ferdinand R. Marcos Jr.'s directive to update the Philippine Iron and Steel Roadmap, the Department of Trade and Industry (DTI) has committed to craft a comprehensive and sustainable development blueprint for the sector. In a Viber message to reporters Thursday, DTI… Read More
PHILGUARANTEE posts double-digit growth in credit guarantee support
July 11, 2024, 2:39 pm
MANILA – Philippine Guarantee Corporation's (PHILGUARANTEE) total guarantee portfolio grew by double-digit last year, the Department of Finance (DOF) said. In a statement on Thursday, the DOF said as of December 2023, PHILGUARANTEE'S total guarantee portfolio went up by 28.2 percent to PHP236.98… Read More
TESDA, Coca-Cola launch Centers for Entrepreneurship in Mindanao
July 10, 2024, 7:48 pm
MANILA – The Technical Education and Skills Development Authority (TESDA), in partnership with beverage firm Coca-Cola, recently launched the Centers for Entrepreneurship (CFE) in Tagum City, Davao del Norte, aiming to empower sari-sari store owners in Mindanao. "Through the establishment of… Read More
Shares down, peso closes higher
July 10, 2024, 5:39 pm
MANILA – The local stock barometer closed weaker on Wednesday, while the peso appreciated. The Philippine Stock Exchange index (PSEi) shed 67.31 points to close at 6,489.35, while the broader All Shares also declined by 28.20 points. "Philippine shares took a breather, slipping below the 6,500… Read More
PH win to host LDF Board shows leadership in climate change actions
July 10, 2024, 5:29 pm
MANILA – The Department of Finance (DOF) said the Philippines’ successful bid to host the Loss and Damage Fund (LDF) Board is due to the country’s leadership in tackling climate change through concrete solutions and actions. “We were chosen because of our strong commitment and concrete… Read More
MORE Power allots P1B for better service in Bohol
July 10, 2024, 5:00 pm
ILOILO CITY – MORE Electric and Power Corp., the electricity provider here will spend around PHP1 billion in the next four years to improve power services in Bohol, its top official said. “For Bohol, that [investment] should be between... perhaps a billion would be more or less doable in the… Read More
Northern Samar eyes major investments from Gokongwei Group
July 10, 2024, 4:37 pm
TACLOBAN CITY – The Northern Samar provincial government is eyeing investments from Gokongwei Group in a bid to advance the industrial and agricultural sectors in the province. In a statement Wednesday, the provincial government said Governor Edwin Ongchuan had a meeting on July 5 with some… Read More
Trade deficit up in May
July 10, 2024, 3:10 pm
MANILA – The country's trade deficit went up by 4.5 percent in May this year, the Philippine Statistics Authority (PSA) said. Data released by the PSA on Wednesday showed that the balance of trade in goods or the difference between the value of exports and imports amounted to USD4.6 billion, up… Read More
Travel app offers 'back-to-school' promo on PH flight bookings
July 10, 2024, 7:55 am
MANILA – Travel app AirAsia MOVE is offering up to 15 percent discount on domestic flight bookings as part of its back-to-school program. The discount is available from July 8 to 11, on non-AirAsia flights to several domestic destinations, for travel from July 15 to Nov. 30. "Our back-to-school… Read More
Stocks up amid rate cut expectations; peso closes at 58.44: $1
July 9, 2024, 7:45 pm
MANILA – The local bourse ended the day in the positive territory, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) gained 27.23 points to 6,556.66, while the broader All Shares rose 13.82 points to 3,538.24. "The local market rose by 27.23 points (0.42%) to 6,556.66 as… Read More
Iloilo electric distribution utility up for P115-M modernization
July 9, 2024, 6:35 pm
ILOILO CITY – MORE Electric and Power Corp. said on Tuesday it aims to complete a PHP115-million modern control and data system project here this year. Of the total amount, PHP50 million was used for the construction of the Control Center, according to a news release. The Control Center is… Read More
BTr fully awards re-issued 20-year Treasury bonds
July 9, 2024, 6:34 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded bids for the re-issued 20-year Treasury bonds (T-bonds) during Tuesday's auction. With a remaining term of seven years and nine days, the re-issued T-bonds fetched an average rate of 6.286 percent, lower than the prevailing secondary market… Read More
US-PH Civil Nuclear Cooperation Agreement enters into force
July 9, 2024, 9:07 am Updated on July 9, 2024, 2:15 pm
MANILA – The United States-Philippines Civil Nuclear Cooperation Agreement, or the 123 Agreement, entered into force on July 2, the US Department of State’s Office of the Spokesperson announced on Tuesday (Manila time). Signed in November last year, the 123 Agreement will establish a legal… Read More
