Business
Higher biodiesel blend to start in October: DOE
May 20, 2024, 7:51 pm
MANILA – The Department of Energy (DOE) announced Monday the downstream oil industry players will increase their biodiesel mix by October this year. Under Department Circular 2024-05-0014, the required coco methyl ester (CME) blend by Oct. 1 for all diesel fuel sold across the country will be at… Read More
BOI OKs P2-B dairy products, plant-based beverage maker
May 20, 2024, 7:48 pm
MANILA – The Board of Investments (BOI) has approved the PHP2-billion project of Metro Pacific Dairy Farms, Inc. (MPDF) for an integrated dairy farm and processing facility in Bay, Laguna. The BOI said in a statement Monday that the facility will produce high-quality dairy and plant-based… Read More
DOF: Gov't sticking to revenue targets
May 20, 2024, 5:50 pm
MANILA – The Department of Finance (DOF) said the government is sticking to its revenue target for this year but no new inflation-inducing tax measures will be introduced. "We're keeping the targets. [We] will make [a] review [by] end of June," Finance Secretary Ralph Recto told reporters in a… Read More
BTr fully awards Treasury bills
May 20, 2024, 5:45 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 5.712 percent, 5.864 percent, and 6.007 percent, respectively - all lower than previous auction and secondary market benchmark rates.… Read More
Mixed oil price adjustments on Tuesday
May 20, 2024, 5:43 pm
MANILA – Starting Tuesday, motorists will see mixed price adjustments on fuel prices while consumers can expect higher kerosene prices starting in the morning of the same day. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they would cut gasoline prices… Read More
DTI vows to intensify price monitoring as PH braces for La Niña
May 20, 2024, 4:12 pm
MANILA – The Department of Trade and Industry (DTI) vowed on Monday to bolster its price monitoring activities nationwide to protect consumers from price manipulation and exploitation as the country braces for La Niña. “DTI’s commitment to diligent nationwide price monitoring remains… Read More
LandBank lends PHP2.68 billion to OFWs for biz ventures
May 20, 2024, 3:38 pm
MANILA – State-run Land Bank of the Philippines (LandBank) said loans to overseas Filipino workers (OFWs) under the OFW Reintegration Program (OFW-RP) has already reached PHP2.68 billion as of March 2024. In a statement on Monday, LandBank said the program, which is jointly implemented with the… Read More
PPP Code speeds up approval process, implementation of infra projects
May 19, 2024, 8:29 pm
BAGUIO CITY – The government targets to award five public-private partnership (PPP) projects worth PHP50.57 billion by the end of 2024 and three more by next year, as the new law and its implementing rules and regulations (IRR) have helped fast-track the approval process and implementation of… Read More
125 PPP projects worth P3 trillion now in pipeline
May 19, 2024, 6:53 pm
BAGUIO CITY – The Public-Private Partnership (PPP) Center currently has 125 projects worth PHP3 trillion in the pipeline, an official said over the weekend. Of the 125 PPP projects, the PHP23.40 billion Tarlac-Pangasinan-La Union Expressway (TPLEX) extension project is in the most advanced… Read More
S. Korea's exports of ‘ramyeon’ surpass $100M for 1st time in April
May 19, 2024, 4:01 pm
SEOUL – South Korea's exports of instant noodles surpassed the USD100 million mark for the first time last month due to the growing popularity of Korean culture and food, data showed Sunday. Exports of instant noodles, or "ramyeon" in Korean, reached USD108.6 million in April, up by 46.8 percent… Read More
BSP hikes AI utilization to further enhance data-gathering capacity
May 19, 2024, 3:36 pm
BAGUIO CITY – Artificial intelligence (AI) has been helping the Bangko Sentral ng Pilipinas (BSP) for around six years already and will continue as the central bank bids to further enhance its data-gathering capacity. BSP-Department of Economic Statistics senior director Redentor Paolo Alegre… Read More
Shares down on profit taking, peso depreciates
May 17, 2024, 6:03 pm
MANILA – Philippine shares ended the week in the red due to last-minute profit taking, while the peso depreciated on Friday. The Philippine Stocks Exchange index (PSEi) declined by 9.51 points, closing at 6,618.69, while the broader All Shares also slightly declined by 0.37 points to 3,524.15.… Read More
BSP wants further cut in banks' RRR
May 17, 2024, 5:26 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) wants to reduce banks' reserve requirement ratio (RRR) rate to 5 percent from the current 9.5 percent. In a televised interview on Friday, Governor Eli Remolona Jr. said the BSP will likely cut policy rates first before putting on the table the cut… Read More
Baladna eyes investment in dairy facility in the PH
May 17, 2024, 5:05 pm
MANILA – A leading milk, dairy, and juice producer in Qatar is planning to establish a large-scale, fully integrated dairy facility in the Philippines, the Department of Trade and Industry (DTI) said. In a statement on Friday, DTI said Trade Secretary Alfredo Pascual met with officials of… Read More
DTI urges Qatar Cool to invest in the PH
May 17, 2024, 5:02 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual urged Qatar Cool (QC), the largest district cooling system (DCS) provider in Qatar, to invest in the Philippines. In a statement on Friday, the trade department said Pascual met with QC Chief Executive Officer Yasser Al… Read More
PH set to secure $10-M readiness support from Green Climate Fund
May 17, 2024, 9:35 am
MANILA – The Philippines is set to benefit from the Green Climate Fund's (GCF) USD10 million new program grant to enhance the government's readiness to address climate hazards. In a statement late Thursday, the Department of Finance (DOF) said the GCF is an international fund under the global… Read More
DOF proposes sale of SCTEX shares to SSS, GSIS
May 16, 2024, 11:00 pm
MANILA – Finance Secretary Ralph Recto said the interest of the Bases Conversion and Development Authority (BCDA) in the Subic-Clark-Tarlac Expressway (SCTEX) could also be sold to the Social Security System (SSS) and the Government Service Insurance System (GSIS). "We're looking at selling… Read More
PSEi tracks Wall Street, peso ends sideways
May 16, 2024, 8:21 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose following the improvements in Wall Street and while waiting for the policy stance of the Monetary Board, even as the peso closed sideways during Thursday’s trading. The PSEi finished the day gaining 1.06 percent and closing at 6,628.20,… Read More
DTI chief highlights PBBM’s economic policies at Qatar Economic Forum
May 16, 2024, 7:46 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual highlighted the policies of the Marcos administration to continue the Philippines’ robust economic growth at the Qatar Economic Forum in Doha. Pascual joined Minister of Industry and Trade of the Kingdom of Morocco Ryad… Read More
BSP: Policy easing possible in Q3
May 16, 2024, 7:44 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) will likely ease policy rates starting August this year. "We are actually somewhat less hawkish than before, which means we could ease or cut rates Q3 (third quarter) or Q4 (fourth quarter) this year, so the second half of this year," BSP Governor… Read More
