Business
PH economy may exceed pre-pandemic level in Q1: NEDA
March 15, 2022, 8:26 pm
MANILA – The National Economic and Development Authority (NEDA) is confident about the economy recovering to pre-pandemic level as early as the first quarter of 2022 despite the ongoing tensions between Ukraine and Russia. Socioeconomic Planning Secretary and NEDA chief Karl Kendrick Chua said… Read More
Fed seen to raise rates this week amid rising inflation, conflict
March 15, 2022, 7:31 pm
WASHINGTON – The US Federal Reserve is widely expected to start raising interest rates from near zero this week as the Ukraine conflict could further push up US inflation, which has been rising to the highest level in four decades, economists said. "Despite the geopolitical developments, we… Read More
FIRB approves tax incentives for Cebu RoRo shipping vessel
March 15, 2022, 4:36 pm
MANILA – The Fiscal Incentives Review Board (FIRB) has approved the tax incentives for the operations of a proposed PHP1.5-billion Cebu City-based shipping vessel, specializing in roll-on roll-off (RoRo) passenger and cargo operations. The grant includes four years of income tax holiday, five… Read More
DTI cautions public vs. commodity hoarding amid oil price hike
March 15, 2022, 4:29 pm
DUMAGUETE CITY – The Department of Trade and Industry (DTI) in Negros Oriental has cautioned the public against hoarding and panic-buying of basic and prime commodities as fuel prices continue to soar. DTI-Negros Oriental provincial director Nimfa Virtucio told the Philippine News Agency that… Read More
Localized wages more equitable, senatorial bet says
March 15, 2022, 4:10 pm
MANILA – Senatorial aspirant and former defense chief Gilbert “Gibo” Teodoro has opposed a legislated across-the-board wage as localized pay is more equitable. In a statement Tuesday, Teodoro said provinces have different situations therefore wages should be determined by the Regional… Read More
Industry group supports gov’t-owned crude stockpiling
March 15, 2022, 2:23 pm
MANILA – The Independent Philippine Petroleum Companies Association (IPPCA) supports the establishment of a government-owned strategic petroleum reserve as one of the long term solutions to address the volatile oil prices in the global market. IPPCA chair Fernando Martinez said in a Senate… Read More
NEDA pushes for more innovation, regional equity in infra
March 15, 2022, 1:17 pm
MANILA – The National Economic and Development Authority (NEDA) is pursuing innovation and regional equity in infrastructure to sustain the country’s growth and recovery in 2022 and beyond. In the #AskNEDA media briefing Tuesday, Socioeconomic Planning Secretary Karl Kendrick Chua said that… Read More
Global markets eye looming central bank meetings
March 14, 2022, 8:43 pm
ANKARA – Global markets await major central bank meetings this week, which could make some shift in their monetary policy decisions amid the war in Ukraine and sanctions on Russia affecting their economies. The US Federal Reserve's two-day meeting will conclude on Wednesday. The Fed is widely… Read More
PH stocks, peso weaken ahead of Fed meeting
March 14, 2022, 8:24 pm
MANILA – The wait-and-see stance on the Federal Reserve's rate decision this week, along with concerns on the Ukraine-Russia conflict, weakened both the local stock barometer and the peso on Monday. The Philippine Stock Exchange index (PSEi) shed 4.15 percent, or 295.24 points, to 6,816.95… Read More
BTr partially awards T-bills
March 14, 2022, 8:03 pm
MANILA – Treasury bills (T-bills) were partially awarded across-the-board on Monday as rates posted upticks. The average rate of the 91-day paper rose to 1.305 percent, the 182-day to 1.458 percent, and the 364-day to 1.734 percent. These were at 0.899 percent, 1.157 percent, and 1.568… Read More
Double-digit fuel price hikes set March 15
March 14, 2022, 7:51 pm
MANILA – Oil companies will implement up to double-digit price hikes starting Tuesday, marking the 11th straight week of increases with pump prices. Caltex, Cleanfuel, Flying V, PTT Philippines, Petron, Seaoil, and Shell said they will raise gasoline prices by PHP7.10 per liter and PHP13.15… Read More
Over 400 Cebu MSMEs get ‘negosyo kits’ from DTI
March 14, 2022, 6:25 pm
CEBU CITY – A total of 421 Cebuano micro, small and medium entrepreneurs (MSMEs) have received livelihood kits from the Department of Trade and Industry (DTI). DTI-Cebu provincial director Rose Mae Quiñanola on Monday announced that through the agency’s Negosyo Center here, it continues the… Read More
P15-B add’l capital needed to import same volume of oil
March 14, 2022, 3:45 pm
MANILA – Oil companies are spending PHP15 billion more to import the same volume of petroleum products amid the increasing oil prices in the global market, Independent Philippine Petroleum Companies Association (IPPCA) chair Fernando Martinez said. In a Senate Energy Committee hearing Monday,… Read More
BCDA makes highest contribution to AFP during Duterte admin
March 14, 2022, 8:44 am
MANILA – The Bases Conversion and Development Authority (BCDA) under the Duterte administration has contributed PHP25.01 billion to the Armed Forces of the Philippines (AFP), the highest made by a single administration. BCDA’s remittance for the AFP modernization between 2017 and 2021 is… Read More
LandBank OKs P101-B loan for 365 LGUs struggling with pandemic
March 13, 2022, 7:34 pm
MANILA – The Land Bank of the Philippines (LandBank) has approved PHP101.1 billion in loans for 365 local government units (LGUs) nationwide as of January in line with its commitment to hasten the revival of local economies and communities affected by the pandemic. Under its RISE UP LGUs… Read More
US gasoline prices continue to rise amid record inflation
March 11, 2022, 7:41 pm
ANKARA – United States gasoline prices continued to rise Thursday as consumer inflation climbed to its highest level in more than 40 years, according to data compiled by Anadolu Agency. The national average stood at $4.318 per gallon for regular gasoline, up from $4.252 on Tuesday, when it… Read More
SEC okays CTS Global Equity Group IPO
March 11, 2022, 5:35 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) by CTS Global Equity Group, Inc. for up to PHP1.375 billion. In its March 10 meeting, the commission en banc resolved to render effective the registration statement of CTS Global… Read More
PH exports expand for 11 straight months
March 11, 2022, 5:30 pm
MANILA – Philippine exports sustained its growth for 11 consecutive months in January 2022 as export revenues expanded by 8.9 percent to USD6.04 billion from USD5.5 billion in the same period in 2021. In a statement Friday, Department of Trade and Industry (DTI) Secretary Ramon Lopez said this… Read More
SBCorp releases P5.9-B for MSME loans
March 11, 2022, 3:06 pm
MANILA – Small Business Corp. (SBCorp), the financing arm of the Department of Trade and Industry (DTI), released a total of PHP5.9 billion as of end-February to micro, small, and medium enterprises (MSMEs), its president and chief executive officer Luna Cacanando said in a statement. This is… Read More
Duterte admin personal income tax effort highest since 1986
March 11, 2022, 2:53 pm
MANILA – Personal income tax (PIT) collections as a share of the gross domestic product (GDP) is highest under the Duterte administration, which averaged 2.4 percent despite the lowering of rates for 99 percent of individual taxpayers starting in 2018 and the pandemic-induced economic slowdown,… Read More
