Business
PH to tap $80-M loan from WB for rehab of ‘Odette’-hit areas
December 23, 2021, 5:42 pm
MANILA – The Department of Finance (DOF) will draw this week USD80 million (about PHP4 billion) of the World Bank’s (WB) USD500 million standby credit line extended to the Philippines to support the national government’s disaster relief and rehabilitation efforts in provinces devastated by… Read More
Oil prices rise amid Chinese economy stabilization efforts
December 23, 2021, 5:31 pm
ISTANBUL – Oil prices increased on Wednesday over statements on the ability of the world's second-largest economy, China, to sustain its economic growth and on projections of a larger-than-expected US inventory fall, although the surge in coronavirus disease 2019 (Covid-19) Omicron variant cases… Read More
Construction permits, licenses soon to be automated
December 22, 2021, 5:44 pm
MANILA – Online application and processing of construction permits and licenses will soon be implemented with the amendments of the Joint Memorandum Circular (JMC) No. 1 Series of 2018 or the Guidelines in Processing of Construction-Related Permits. The JMC, which was signed Tuesday, is in line… Read More
PH stocks gauge slips anew, peso follows
December 22, 2021, 5:35 pm
MANILA – Profit-taking ahead of the holidays resulted in another decline in the Philippines’ main equities index on Wednesday and the peso followed after slipping to the 50-level against the US dollar. The Philippine Stock Exchange index (PSEi) slipped by 0.67 percent, or 47.87 points, to… Read More
Foreign ownership liberalization seen to boost FDIs to PH
December 22, 2021, 5:13 pm
MANILA – Foreign direct investments (FDIs) to the Philippines are expected to increase following the passage in the Senate of a measure to liberalize several sectors including the telecommunication industry. In a commentary issued on Wednesday, Fitch Solutions said the measure is seen to… Read More
Duterte adviser welcomes shortened period for boosters
December 22, 2021, 4:49 pm
MANILA – Presidential Adviser for Entrepreneurship and Go Negosyo founder Joey Concepcion has lauded the Department of Health (DOH) for heeding the private sector’s call to shorten the interval time between the second dose of Covid-19 vaccine and booster shot. “We need to act fast by getting… Read More
Newly listed solar firm vows to back gov’t RE efforts
December 22, 2021, 4:05 pm
MANILA – Following its initial public offering (IPO), Solar Philippines Nueva Ecija Corp. (SPNEC) has vowed to support government’s goal to increase renewable energy in the country. In a statement Wednesday, Solar Philippines founder Leandro Leviste said SPNEC is preparing an initial 1,000… Read More
Bataan products on sale at Christmas trade fair
December 21, 2021, 8:57 pm
BALANGA CITY, Bataan – The provincial government here has opened a Christmas trade fair selling and showcasing various locally-produced products. Thirty micro, small and medium entrepreneurs are participating in the event, displaying the best food and non-food products of the province. The… Read More
Meralco helps restore power in ‘Odette’-hit areas
December 21, 2021, 8:54 pm
MANILA – The Manila Electric Co. (Meralco) will deploy a contingent of about 50 engineers and linemen to help in clearing operations and power restoration in areas that were severely affected by Typhoon Odette (international name Rai). In a statement, the company said 25 of these engineers and… Read More
Stocks down still on Omicron worries; peso stays firm
December 21, 2021, 7:24 pm
MANILA – Concerns on the impact of the Omicron variant of coronavirus disease 2019 (Covid-19) continue to hit the local bourse but the peso kept its footing against the US dollar on Tuesday. The Philippine Stock Exchange index (PSEi) shed 0.97 percent, or 70.55 points, to 7,167.06… Read More
BOP position seen to recover partly on OFW remittance inflows
December 21, 2021, 7:14 pm
MANILA – The balance of payment (BOP) position turned into deficit last November but an economist forecasts a reversal in the coming months partly on seasonal inflows of remittances during the Christmas holidays. The Bangko Sentral ng Pilipinas (BSP) reported the USD123-million BOP deficit… Read More
Oil market outlook highly uncertain due to Omicron: Fitch
December 21, 2021, 2:36 pm
ANKARA – The global oil market outlook remains highly uncertain given the emergence of the Omicron coronavirus variant, Fitch Ratings said in a statement Monday. The variant may result in renewed lockdowns and travel restrictions, and this may increase price volatility in the near term, the… Read More
Lower demand pushes global oil prices down
December 20, 2021, 8:49 pm
ANKARA – Global oil prices fell on Monday fueled by concerns of rising Omicron variant cases worldwide, resulting in lowering oil demand expectations. International benchmark Brent crude was trading at USD71.21 per barrel at 0740 GMT for a 3.14 percent decrease after closing the previous session… Read More
Stocks slip on Omicron concerns; peso almost unchanged
December 20, 2021, 8:49 pm
MANILA – The Philippine Stock Exchange index (PSEi) finished Monday in the negative territory due partly to upticks in coronavirus disease 2019 (Covid-19) Omicron variant infections globally, while the peso managed to end sideways against the greenback. The main equities index shed 0.82… Read More
Restoration in ‘Odette’-hit areas to counter economic impact
December 20, 2021, 7:45 pm
MANILA – Devastation in some parts of the Visayas and Mindanao wrought by Typhoon Odette is expected to hit economic recovery but restoration activities in the coming days can counter its economic impact. In a report released on Monday, Rizal Commercial Banking Corporation (RCBC) chief… Read More
Port operator vaccinates 90% of workforce
December 20, 2021, 4:49 pm
MANILA – International Container Terminal Services, Inc. (ICTSI) hit a milestone in the fight against the coronavirus disease 2019 (Covid-19) pandemic after reaching a 90 percent vaccination rate for its employees. More than 9,700 employees of the ICTSI Group have either been partially or… Read More
Pump prices up for 2 straight weeks
December 20, 2021, 4:42 pm
MANILA – Oil companies announced they will increase pump prices starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said gasoline and diesel prices will go up by PHP0.55 per liter. Caltex, Seaoil, and Shell will also hike kerosene prices by… Read More
ICTSI continues investment in Manila flagship
December 18, 2021, 2:30 pm
MANILA – International Container Terminal Services, Inc. (ICTSI) continues to roll out improvements and upgrades at its flagship Manila International Container Terminal (MICT), including environmentally sustainable initiatives. The upgrades are designed not only to further ease transactions but… Read More
DTI pursues trade deal with UAE at Global Business Forum
December 18, 2021, 1:38 pm
DUBAI, United Arab Emirates (UAE) — Department of Trade and Industry (DTI) Secretary Ramon Lopez proposed stronger trade and investment ties with the UAE as he joined the inaugural Global Business Forum (GBF) Association of Southeast Asian Nations (Asean) hosted at Expo Dubai 2020. The forum is… Read More
Poor to be center of recovery strategy: NEDA chief
December 17, 2021, 9:33 pm
MANILA – The poor will be the focus of the government as the country recovers from the pandemic, Socioeconomic Planning Secretary Karl Kendrick Chua said. In a statement for the 2021 first semester poverty statistics report Friday, Chua said the government achieved four years ahead, or in… Read More
