Business
Senatorial bet favors oil excise tax reduction than suspension
February 23, 2022, 1:48 pm
MANILA – Former Defense Secretary and senatorial bet Gilbert “Gibo” Teodoro has favored the lowering of excise tax on petroleum products rather than suspending it as an immediate help to consumers amid the rising oil prices. In a statement Wednesday, Teodoro said he recognizes that the… Read More
APEC takes steps to reconnect region, boost regional integration
February 22, 2022, 8:26 pm
JAKARTA – The Asia-Pacific Economic Cooperation (APEC) is taking steps to pave a calibrated and measured way of reconnecting the dynamic region as economies learn to live with coronavirus disease 2019 (Covid-19), according to the APEC Secretariat-issued statement received here Tuesday. Such… Read More
Stocks index recovers as peso trades sideways
February 22, 2022, 8:20 pm
MANILA – The main stocks index rebounded on Tuesday on news about a possible ceasefire in the Russia-Ukraine conflict while the peso continued its sideways close against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.93 percent, or 68.66 points, to 7,440.91 points. All… Read More
DOF chief hopes for Landbank Charter change in next admin
February 22, 2022, 7:57 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III is hopeful that the proposed Charter change for state-owned Land Bank of the Philippines (Landbank) will push through in the next administration. During the Financial Executives Institute of the Philippines’ (FINEX) 2nd… Read More
Address transpo woes with lowering of alert levels: ECOP
February 22, 2022, 6:56 pm
MANILA – Employers Confederation of the Philippines (ECOP) president Sergio Ortiz-Luis Jr. has called on the Department of Transportation (DoTr) to resolve concerns in public commuting as many workers are expected to come back to their workplaces with the possible lowering of alert… Read More
‘Build, Build, Build’ projects lure foreign investments to Clark
February 22, 2022, 6:44 pm
MANILA – The administration’s “Build, Build, Build” infrastructure program is expected to continue attracting foreign investments to Clark to create a new metropolis outside Metro Manila. During the Clark business conference Tuesday, Clark Development Corp. (CDC) Business Development and… Read More
IP filings post double-digit growth in 2021 as economy reopens
February 22, 2022, 5:06 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) said intellectual property (IP) filings from January to December 2021 grew 11.6 percent year-on-year (YOY) to a total of 46,496, recovering significantly from the 2020 drop, as lighter quarantine restrictions last year… Read More
2 leading presidential bets, good for MSMEs: Concepcion
February 22, 2022, 3:54 pm
MANILA – Presidential Adviser for Entrepreneurship and Go Negosyo founder Joey Concepcion said presidential aspirants former senator Ferdinand Marcos Jr. and Vice President Leni Robredo “will be good” for small-scale businesses. “Judging from the platforms they have presented on Go… Read More
WTO says trade may turn up soon as supply pressures ease
February 22, 2022, 3:45 pm
ANKARA – The volume of global merchandize trade may turn up soon as supply chain pressures have partially eased, according to data released Monday by the World Trade Organization (WTO). The WTO’s Goods Trade Barometer, a real-time trend gauge for trade, decreased slightly to 98.7 in December… Read More
Firm sees big opportunity in renewable energy market
February 22, 2022, 3:42 pm
MANILA – The country’s first clean energy-themed real estate investment trust (REIT) listing on Philippine Stock Exchange (PSE) aims to tap the tremendous opportunities in the local renewable energy market. With its initial public offering (IPO) Tuesday, Citicore Energy REIT Corp. (CREIT)… Read More
DTI lifts price freeze on basic necessities in Caraga
February 21, 2022, 8:30 pm
BUTUAN CITY – The Department of Trade and Industry-Caraga (DTI-13) lifted the price freeze for basic necessities on Sunday, February 20, or 60 days after the region was placed under a state of calamity in December last year due to the devastation of Typhoon Odette. With the lifting of the price… Read More
PSEi down on geopolitical concerns overseas; peso nearly flat
February 21, 2022, 7:22 pm
MANILA – Geopolitical concerns between the United States and Russia over Ukraine continued to worry investors, resulting in the negative close of the Philippine Stock Exchange index (PSEi) on Monday but the peso remained firm against the US dollar. The main equities index fell by 0.63 percent,… Read More
T-bill rates up partly on Ukraine-Russia tension
February 21, 2022, 5:43 pm
MANILA – Concerns on the Ukraine-Russia tension and higher average domestic inflation projection for this and next year resulted in the upticks of Treasury bill (T-bill) rates on Monday. The average rate of the 91-day paper increased to 0.899 percent, the 182-day to 1.157 percent, and the… Read More
Remittances, BPO revenues seen to boost PH BOP position
February 21, 2022, 5:40 pm
MANILA – Higher inflows from overseas Filipino workers (OFWs), the business process outsourcing (BPO) sector and foreign investments, along with continued vaccination against coronavirus disease 2019 (Covid-19), are expected to support the country’s balance of payment (BOP)… Read More
BCDA invites UAE firms to invest in New Clark City
February 21, 2022, 4:49 pm
MANILA – The Bases Conversion and Development Authority (BCDA) has invited companies from the United Arab Emirates (UAE) to explore opportunities in New Clark City. The BCDA is part of the Philippine delegation to UAE for the Philippines’ National Day at Expo 2020 Dubai from February 9 to… Read More
Fuel prices up for 8th straight week
February 21, 2022, 3:02 pm
MANILA – Fuel prices will increase for eight consecutive weeks as oil firms will impose below PHP1-per liter hike starting Tuesday morning. In separate statements, local oil industry players Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will increase gasoline… Read More
DTI confident PH to keep EU GSP+ privileges
February 21, 2022, 12:38 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez is confident that the country will sustain the Generalized Scheme of Preferences Plus (GSP+) privileges granted by the European Union (EU). This is amid new threats from the EU Parliament to temporarily withdraw trade perks… Read More
LGUs’ Covid response spending hits P119-B as of June 2021
February 20, 2022, 3:50 pm
MANILA – Local government units (LGUs) have spent PHP118.9 billion combined on coronavirus disease 2019 (Covid-19) response measures as of June 2021, according to preliminary data gathered by the Bureau of Local Government Finance (BLGF). In a report to Finance Secretary Carlos Dominguez III,… Read More
PH macroeconomic fundamentals buoy economic recovery: Dominguez
February 19, 2022, 10:37 am
MANILA – Finance Secretary Carlos G. Dominguez III said he is confident the country's strong macroeconomic fundamentals would help sustain the domestic economy’s continued recovery despite risks posed by external issues. In an interview over CNBC on Friday, Dominguez said the national… Read More
P12-B project to transform Cebu town into econ 'powerhouse'
February 18, 2022, 8:43 pm
CEBU CITY – A PHP12-billion, 254-hectare reclamation project is seen to soon transform the sleepy town of Cordova into an economic powerhouse with its mixed-use commercial and recreational hub, Cebu Governor Gwendolyn Garcia said Friday. Garcia, who led other government officials and development… Read More
