Business
ARTA hikes target number of LGUs fully compliant with eBOSS
May 30, 2024, 8:52 am
MANILA – Anti-Red Tape Authority (ARTA) Director General Ernesto Perez said the agency targets 200 local government units (LGUs) to fully comply with the electronic Business One-Stop Shop (eBOSS) system this year. During the Doing Business Forum of the German-Philippines Chamber of Commerce and… Read More
PSEi tracks Asian indices, peso weakens
May 29, 2024, 6:34 pm
MANILA – The local stock barometer dropped on Wednesday, tracking other Asian stock markets, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) fell to 6,411.41 level, shedding 89.93 points, or 1.38 percent. All Shares also declined by 0.95 percent to 3,451.74. “(T)he… Read More
CIAC pitches Clark as aerospace hub
May 29, 2024, 6:16 pm
MANILA – The Clark International Airport Corp. (CIAC) on Wednesday said it has promoted Clark as an aerospace hub to investors in the global aerospace industry. CIAC president Arrey Perez pitched Clark as an aerospace hub at the 9th International Aerospace Innovation Forum organized by Aéro… Read More
PH adopts historic WIPO treaty
May 29, 2024, 5:30 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) on Wednesday shared that the Philippines has joined 193 other member countries of the World Intellectual Property Organization (WIPO) in adopting a landmark treaty on intellectual property (IP), genetic resources (GR), and… Read More
PH economy forecast to grow faster in Q2
May 29, 2024, 5:30 pm
MANILA – Philippine economic growth is expected to accelerate beginning in the second quarter of the year, driven by ramped up government spending, easing inflation, and high employment level. In the May issue of The Market Call released on Wednesday, the First Metro Investment Corporation… Read More
Consumer, biz confidence, financing back 22% car sales growth in April
May 29, 2024, 5:07 pm
MANILA – Sales of locally assembled vehicles in April increased by 21.8 percent to 37,314 units from 30,643 units in the same month last year. The joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) released on… Read More
LandBank, DSWD partner to deliver crisis aid
May 29, 2024, 4:59 pm
MANILA – Land Bank of the Philippines (LandBank) and the Department of Social Welfare and Development (DSWD) have signed an agreement for the faster delivery of financial relief to Filipinos affected by crisis. In a statement on Wednesday, LandBank said the memorandum of agreement (MOA) signed… Read More
Meralco services back to normal after ‘Aghon’
May 29, 2024, 3:30 pm
MANILA – The Manila Electric Company (Meralco) announced Wednesday that electricity services in its franchise areas affected by Typhoon Aghon returned to normal operations at 10 p.m. of May 28. Meralco spokesperson and head of corporate communications Joe Zaldarriaga said Meralco crews worked… Read More
BSP wins award for coin deposit machine project
May 29, 2024, 3:15 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said on Wednesday it has received an award from the International Association of Currency Affairs (IACA) for its Coin Deposit Machine (CoDM) project. In a statement, the BSP said the 2024 Excellence in Currency Technical Award was received by BSP… Read More
Economist sees recovery in manufacturing in April
May 29, 2024, 1:01 pm
MANILA – The country's manufacturing output likely recovered in April from a contraction in March, an economist said. Rizal Commercial Banking Corporation chief economist Michael Ricafort told the Philippine News Agency in a Viber message on Wednesday that the decline in value and output of the… Read More
PSEi declines on monetary outlook, peso back to 57-level
May 28, 2024, 8:50 pm
MANILA -- The Philippine Stock Exchange index (PSEi) fell on Tuesday while the peso strengthened, returning to 57-level. The local bourse ended the day declining by 1.07 percent to 6,501.34, with All Shares also down by 0.72 percent to 3,484.74. Philstock Financials, Inc. research and engagement… Read More
Recto proposes lower rice import tariff
May 28, 2024, 8:00 pm Updated on May 29, 2024, 9:33 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto has proposed the temporary reduction of rice import tariffs to help bring down prices. In an interview with reporters at the sidelines of the Philippine Economic Briefing in Pasay City on Monday, Recto said that while world rice prices… Read More
BTr fully awards re-issued Treasury bonds
May 28, 2024, 4:51 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the re-issued three-year Treasury bonds (T-bonds) at Tuesday's auction. With a remaining term of two years and seven months, the re-issued bond fetched an average rate of 6.347 percent, lower than the prevailing secondary market rates. "The… Read More
LandBank extends P2.5-B loans to rice farmers
May 28, 2024, 2:16 pm
MANILA – State-run Land Bank of the Philippines said total loans released through the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) have reached PHP2.5 billion as of April 30, 2024. In a statement on Tuesday, LandBank said the loans have benefitted… Read More
RE to power upcoming SteelAsia plants
May 28, 2024, 1:01 pm
COMPOSTELA, Cebu – The country’s top steel manufacturer and one of the world’s biggest producers of reinforcement bar (rebars) SteelAsia Manufacturing Corp. is eyeing renewable resources to energize its upcoming facilities. SteelAsia president and chief operating officer Andre Sy told the… Read More
BSP vows to continue upholding integrity, professionalism
May 28, 2024, 12:59 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Tuesday assured the public that it remains committed to upholding integrity and professionalism in the organization. The central bank issued the statement following recent reports that four employees in the offices of two Monetary Board (MB)… Read More
Flexible work arrangement slows down attrition in contact centers
May 27, 2024, 8:40 pm
MANILA – The Contact Center Association of the Philippines (CCAP) expects that the attrition rate in contact center firms will continue to decline as the industry embraces flexible work arrangement. In a press briefing in Makati City Monday, CCAP board director Haidee Enriquez said the pace of… Read More
New cargo railway is Luzon Corridor flagship project
May 27, 2024, 7:30 pm
MANILA – The Luzon Economic Corridor steering committee has identified the cargo railway connecting Subic, Zambales and Batangas province as the flagship project of the new corridor, Special Adviser to the President for Investment and Economic Affairs Secretary Frederick Go said Monday. During… Read More
Recto: PH an 'economic giant' by 2033
May 27, 2024, 6:48 pm
MANILA – The Philippine economy is expected to continue posting strong growth and is seen to be one of the economic giants by 2033, Department of Finance (DOF) Secretary Ralph Recto said on Monday. In his speech at the Philippine Economic Briefing at the Philippine International Convention… Read More
Inflation likely to settle within target in May
May 27, 2024, 6:41 pm
MANILA – Headline inflation is expected to remain within the government's 2 to 4 percent target in May. "We are still aiming for 2 to 4 percent, the target for the year. I think that we should be there," National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on the… Read More
