Business
Bitcoin falls to USD69,000 after failing to pass resistance level
May 23, 2024, 1:35 pm
ISTANBUL – Bitcoin fell to almost USD69,000 on Wednesday, after it failed to surpass the USD72,000 resistance level Tuesday. The price fell to as low as USD69,191 earlier Wednesday, while it was trading just above USD69,500 around 10:10 a.m. EDT for a daily loss of 0.4 percent, data from… Read More
Gov't records over P40-B budget surplus in April
May 23, 2024, 12:41 pm
MANILA – The national government recorded a PHP42.7-billion budget surplus in April this year, data from the Bureau of the Treasury (BTr) showed. The BTr, in its latest cash operations report released on Thursday, said budget surplus during the month, however, was lower than the PHP66.8 billion… Read More
IRRs of Tatak Pinoy, Internet Transactions laws signed
May 22, 2024, 7:51 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual on Wednesday led the signing of the Implementing Rules and Regulations (IRRs) of the Tatak Pinoy (Proudly Filipino) Act and the Internet Transactions Act (ITA), laws that are set to transform the Philippine e-commerce… Read More
Stocks down, peso strengthens Wednesday
May 22, 2024, 5:44 pm
MANILA – The local stock market continued to decline as the peso stayed at the 58-to-the-US dollar level on Wednesday. The Philippine Stock Exchange index (PSEi) declined by 26.44 points to close at 6,607.22. All Shares, likewise, fell by 11.82 points to 3,523.95. "The local market extended its… Read More
LandBank eyes QR feature in cash aid delivery
May 22, 2024, 4:56 pm
MANILA – The Land Bank of the Philippines said it is planning to issue cards with a quick response (QR) code to facilitate a more convenient and secure cash aid disbursement to beneficiaries of the national government’s social amelioration programs. In a statement on Wednesday, the state-run… Read More
DTI urges biz owners to register to avail gov't support, services
May 22, 2024, 4:00 pm
LEGAZPI CITY – The Department of Trade and Industry (DTI) in Region 5 (Bicol) is urging small, micro and medium enterprises (MSMEs) in the region to register their business names to avail of government support and services. In an interview on the sidelines of the regional roadshow… Read More
Recto: EO 12 tariff coverage expansion to create more green jobs
May 22, 2024, 3:30 pm
MANILA – The expansion of the electric vehicle incentive program under Executive Order 12 will further enhance the ease of doing business, promote more sustainable investments, and generate more jobs in the area of green technology, Finance Secretary Ralph Recto said. “This strategic move puts… Read More
PH firm gets USTDA grant for connectivity project’s feasibility study
May 22, 2024, 12:56 pm
MANILA – Filipino company Responsible Internet Sustainability Effort, Inc. (RISE) has received a grant from the United States Trade and Development Agency (USTDA) for its feasibility study to improve internet services in the country, especially in underserved communities. USTDA Director Enoh… Read More
PH, US, Japan discuss priority sectors in Luzon corridor
May 22, 2024, 12:48 pm
MANILA – The Philippines, United States, and Japan have started discussing the sectors they would prioritize for the Luzon Economic Corridor, the US State Department said in a statement Wednesday (Manila time). The US State Department said the discussion happened at the inaugural meeting of the… Read More
US gov’t aid possible for Luzon Economic Corridor feasibility study
May 21, 2024, 8:14 pm
MANILA – The United States government could extend its assistance to the Philippines in doing the feasibility study for the Luzon Economic Corridor, officials from both governments said on Tuesday. On the sidelines of the 6th Indo-Pacific Business Forum in Taguig City, Department of Trade and… Read More
Weaker peso drags local bourse
May 21, 2024, 6:22 pm
MANILA – The Philippine peso on Tuesday further depreciated to the 58-level, slashing gains of local shares during the previous day’s trading. The Philippine Stock Exchange index (PSEi) ended lower by 0.74 percent at 6,633.66, while All Shares declined by 0.36 percent to 3,535.77. Philstock… Read More
PLDT firm on Sept dialogue with workers’ union despite strike threat
May 21, 2024, 5:52 pm
MANILA – Telecommunications giant PLDT Inc. will not sit down with its workers union, Manggagawa sa Komunikasyon ng Pilipinas (MKP), until September despite the threat of a strike. In a statement on Tuesday, PLDT said its management is “willing and able to negotiate” with MKP at the right… Read More
BTr partially awards Treasury bonds
May 21, 2024, 5:41 pm
MANILA – The Bureau of the Treasury (BTr) partially awarded the new 20-year Treasury bonds during Tuesday's auction. The coupon rate was set at 6.875 percent, higher than the comparative Bloomberg Valuation Service rate at 6.672 percent. The auction was 1.3 times oversubscribed as total… Read More
PH, Brunei chambers of commerce to forge partnership
May 21, 2024, 3:58 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) will sign a memorandum of understanding (MOU) with its counterpart in Brunei Darussalam to strengthen business-to-business partnership between the two countries. In an interview Monday, PCCI president Enunina Mangio said they will… Read More
BSP: Dollar strengthens after Fed signals delay in rate cut
May 21, 2024, 3:30 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the dollar strengthened following the Federal Reserve's statement to delay easing of interest rates. Remolona made the statement after the peso further depreciated and breached the 58 to a dollar level on Tuesday morning's… Read More
US picks Manila as HQ for civil nuclear working group for SEA
May 21, 2024, 2:22 pm
MANILA – The United States has chosen Manila as its Southeast Asian headquarters for the US Civil Nuclear Industry Working Group, State Department Assistant Secretary for Bureau of East Asian and Pacific Affairs Daniel Kritenbrink announced here Tuesday. On the sidelines of the 6th… Read More
PH posts $639-M deficit in April
May 21, 2024, 9:31 am
MANILA – The Philippines posted a USD639-million balance of payments (BOP) deficit in April this year, the Bangko Sentral ng Pilipinas (BSP) has said. Data released by the BSP late Monday showed that the BOP deficit during the year was higher than the USD148 million deficit recorded in April… Read More
Budget hotel eyes P2-B PH expansion in next 5 years
May 21, 2024, 9:04 am
MANILA – Budget hotel Red Planet Hotels is eyeing to add at least four hotels in the next five years, spending an average of PHP500 million each or around PHP2 billion. Red Planet Hotels chief executive officer Florent Humeau said the company aims to expand in the Philippines through the… Read More
PSEi tracks Asian indices; peso weakens
May 20, 2024, 9:00 pm
MANILA – The local index tracked the performance of regional bourses at the start of the week while the Philippine peso depreciated. The Philippine Stock Exchange index (PSEi) gained on Monday, increasing by 0.97 percent to 6,682.78 points, with All Shares also higher by 0.70 percent to 3,548.70… Read More
Economic growth target achievable –DOF exec
May 20, 2024, 8:41 pm
BAGUIO CITY – The government's economic growth target is achievable this year, a Department of Finance (DOF) official said over the weekend. "I think for the government, our target is 6 to 7 percent. It looks still very achievable," DOF chief economist Domini Velasquez said during a business… Read More
