Business
PEZA lures nearly P808-B investments under Duterte admin
March 4, 2022, 1:13 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has approved PHP807.83 billion investments since September 2016. In a statement Friday, PEZA director general Charito Plaza reported that there were 88 special economic zones (SEZ) registered during the Duterte administration. These numbers… Read More
BSP closely monitoring global developments' impact on inflation
March 4, 2022, 11:42 am
MANILA – Monetary authorities are closely monitoring developments overseas such as upticks in oil prices, its impact on domestic inflation and any second-round effects. Prices of oil in the international market further rose recently and Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno,… Read More
DOF chief bats for continued modernization in BIR
March 3, 2022, 8:28 pm
MANILA – Finance Secretary Carlos Dominguez III has highlighted the need to continue modernization in the Bureau of Internal Revenue (BIR), citing gains from earlier measures that helped address needs during the pandemic. In his speech during the BIR tax campaign kickoff 2022 on Thursday,… Read More
BIR, taxpayers’ support key to post-pandemic recovery
March 3, 2022, 8:15 pm
MANILA – Finance Secretary Carlos Dominguez III said Thursday investing more in infrastructure, social services and climate action to stimulate growth as the government begins the urgent task of outgrowing its pandemic-induced debt are “doable” with the support of the nation’s taxpayers… Read More
PH stocks recover, peso keeps footing vs. US dollar
March 3, 2022, 7:30 pm
MANILA – Positive sentiments reigned in the local bourse on Thursday despite the geopolitical concerns overseas, while the peso managed to keep its stance against the US dollar. The Philippine Stock Exchange index (PSEi) recovered and rose by 1.15 percent, or 84.07 points, to 7,388.09… Read More
BSP New Clark City branch design done by August
March 3, 2022, 7:26 pm
MANILA – Architectural and engineering design for the larger portion of the new Bangko Sentral ng Pilipinas (BSP) complex in New Clark City is expected to be finished by July to August this year. BSP Governor Benjamin Diokno said he and Monetary Board member Anita Linda Aquino, along with… Read More
PH e-commerce startup raises $10.7-M from foreign sources
March 3, 2022, 6:59 pm
MANILA – Seeing the potential of the country’s e-commerce, a Philippine-based e-commerce startup has raised USD10.7 million from regional and global investors to expand its business. SariSuki, a virtual sari-sari store startup founded by former president of Grab Philippines and co-founder of… Read More
US oil soars to highest since 2011 amid OPEC+ decision, conflict
March 3, 2022, 5:35 pm
NEW YORK – Oil prices surged again on Wednesday after major oil producers decided to stick to modest output increases despite supply fears amid the Russia-Ukraine conflict. The West Texas Intermediate (WTI) for April delivery added 7.19 U.S. dollars, or 7 percent, to settle at 110.60 dollars a… Read More
DOE welcomes EO on nuclear power
March 3, 2022, 5:31 pm
MANILA – The Department of Energy (DOE) has welcomed the signing of Executive Order 164, or the inclusion of nuclear power in the country’s energy mix, as this will address the high electricity rate and secure energy for the future. “We thank the President for seeing merit in the DOE’s… Read More
Duterte approves inclusion of nuclear power in PH energy mix
March 3, 2022, 1:56 pm
MANILA – President Rodrigo Duterte has signed Executive Order (EO) 164 that now includes the potential of nuclear power in the country’s energy mix. Released on Thursday, EO 164 was signed by the Chief Executive last February 28. “This policy is the start of the national nuclear power… Read More
SEC issues cease, desist order vs. RGS World Marketing
March 3, 2022, 1:52 pm
MANILA – The Securities and Exchange Commission (SEC) has ordered RGS World Marketing Corp. to stop its illegal investment scheme based in Negros Occidental targeting investors in Western Visayas. In an order dated March 1, the commission en banc directed RGS World to immediately cease and… Read More
DOE assures ample oil supply amid Russia-Ukraine war
March 2, 2022, 7:56 pm
MANILA – Department of Energy (DOE) Secretary Alfonso G. Cusi on Wednesday assured the public on the sufficiency of the country’s oil supply amid the Russia-Ukraine conflict. Cusi, however, cautioned against the inevitability of domestic price spikes, reflecting upward global market movements.… Read More
BSP TDF rates up on geopolitical worries overseas
March 2, 2022, 7:51 pm
MANILA – Concerns regarding the Ukraine-Russia conflict affected investors’ sentiments even on the central bank’s term deposit facility (TDF), which registered higher rates and undersubscription on Wednesday. Bangko Sentral ng Pilipinas (BSP) data show that the average rate of the… Read More
Reactivation of price council in Cebu pushed
March 2, 2022, 7:40 pm
CEBU CITY – The city veterinarian here has pushed for the reactivation of the price coordinating council to prevent the unregulated increase in the prices of basic commodities, including meat and its derivative products. Dr. Jessica Maaribojoc, head of the Department of Veterinary Medicine… Read More
Stocks gauge, peso weaken as Ukraine-Russia tension continues
March 2, 2022, 7:25 pm
MANILA – Risk-off sentiments on account of the geopolitical conflict between Ukraine and Russia weakened both the main equities index and the peso on Wednesday. The Philippine Stock Exchange index (PSEi) shed 1.36 percent, or 100.59 points, to 7,304.02 points. All Shares declined by 1.03… Read More
Enactment, amendments of several laws to boost economic recovery
March 2, 2022, 6:11 pm
MANILA – The continued reopening of the economy, along with the enactment and amendments of laws supporting businesses and employment, are expected to boost the domestic economy’s recovery. In an economic bulletin issued on Wednesday, the Department of Finance (DOF) cited the creation of… Read More
Palace set to issue policy on nuclear power soon: DOE exec
March 2, 2022, 4:35 pm
MANILA – The Department of Energy (DOE) expects the Office of the President to release an executive order (EO) on the possible use of nuclear power for the country’s energy security. “We heard from the Office of the President that the policy is going to be approved soon. It’s an executive… Read More
SEC clears Tagum Global Medical Center IPO
March 2, 2022, 3:50 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) by Tagum Global Medical Center, Inc. In its meeting on March 1, the commission en banc resolved to render effective the medical center’s registration statement covering 156,000… Read More
DOE urges consumers to report unreasonable oil prices
March 2, 2022, 3:45 pm
MANILA – The Department of Energy (DOE) has urged consumers to report to the agency oil retail outlets with unreasonable petroleum prices amid the non-stop oil price hikes for the past nine weeks. In a press conference Wednesday, DOE Undersecretary Gerardo Erguiza Jr. said the agency will not… Read More
World Bank prepares $3-B support package to Ukraine
March 2, 2022, 3:38 pm
WASHINGTON – The World Bank is preparing a support package for Ukraine totaling USD3 billion and is studying Ukraine’s request for emergency financing, International Monetary Fund (IMF) managing director Kristalina Georgieva and World Bank Group president David Malpass said in a joint… Read More
