Business
Monetary Board keeps policy rates
June 27, 2024, 6:04 pm
MANILA – The Monetary Board (MB) has remained on guard as it kept key policy rates despite expecting inflation to ease by the second semester of the year. Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said Thursday the MB decided to retain the overnight reverse repurchase (RRP)… Read More
APECO rebuilds ecozone after P800-M projects left unfinished
June 27, 2024, 5:49 pm
CASIGURAN, Aurora – The Aurora Pacific Economic Zone and Freeport Authority (APECO) is rebuilding the ecozone here after learning that around PHP796 million worth of utility and infrastructure projects within the APECO property were left unfinished. APECO President and Chief Executive Officer… Read More
BOI gives top incentives to DOST’s CRADLE program product
June 26, 2024, 7:16 pm
MANILA – The Board of Investments (BOI) said it has awarded the best set of fiscal incentives for domestic market activities for projects within Metro Manila under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law to a beneficiary of the Department of Science and… Read More
PSEi gains on bargain hunting, peso closes flat
June 26, 2024, 6:43 pm
MANILA – The Philippine Stock Exchange index (PSEi) sustained its gains for the third consecutive day, thanks to bargain hunters, while the peso closed sideways during mid-week’s trading. The PSEi closed Wednesday at 6,313.11, or 0.22 percent higher than the previous day’s trading. All… Read More
BTr awards P30-B reissued T-bonds in full at higher yield
June 26, 2024, 6:34 pm
MANILA – The Bureau of the Treasury (BTr) on Wednesday awarded the reissued treasury bonds in full, fetching a higher yield. “The Auction Committee fully awarded the reissued 20-year treasury bonds at today’s auction. With a remaining term of 19 years and 11 months, the reissued bond series… Read More
DTI vows to assist tire producer for 100% local sourcing of raw rubber
June 26, 2024, 6:34 pm
MANILA – The Department of Trade and Industry (DTI) has vowed to assist Japanese tire manufacturer Yokohama Rubber Company Ltd. to fully source rubber sap from local suppliers as it plans to expand its production in the Philippines. In a briefing with trade reporters on June 24, DTI Secretary… Read More
Perks, subsidies needed for biz adopting tech, upskilling workforce
June 26, 2024, 6:15 pm
MANILA – The Employers Confederation of the Philippines (ECOP) on Wednesday urged the government to provide incentives and subsidies for businesses that adopt advanced technologies like artificial intelligence (AI) and that upskill their workforce. ECOP said incentives for training programs… Read More
Metro Manila to remain PH’s economic center in next 10 years
June 26, 2024, 5:54 pm
MANILA – Despite the government’s push for countryside development, Metro Manila businesses still believe that the National Capital Region (NCR) will remain the Philippines’ center for economic activities over the next 10 years. Philippine Chamber of Commerce and Industry (PCCI)-NCR vice… Read More
NEDA Board OKs digital infra project, adjusts parameters of 9 others
June 25, 2024, 9:15 pm
MANILA — The National Economic and Development Authority (NEDA) Board chaired by President Ferdinand R. Marcos Jr. approved on Tuesday a flagship infrastructure project to boost broadband connectivity and strengthen cybersecurity. In a statement late Tuesday, the NEDA Board said it approved the… Read More
Employers urged to keep up with AI, upskilling workforce
June 25, 2024, 8:25 pm
MANILA — The Employers Confederation of the Philippines (ECOP) urged its members to keep up with artificial intelligence (AI)-driven technology and continue to reskill and upskill their workforce to support the country’s economic growth. During the 45th National Conference of Employers at The… Read More
Bargain hunting lifts PSEi, peso almost flat
June 25, 2024, 7:17 pm
MANILA – The local bourse continued to stay in positive territory on Tuesday as investors looked for cheap shares. The Philippine Stock Exchange index (PSEi) gained 26.59 points to 6,299.05 while the broader All Shares also rose 33.32 points to 3,441.09. "The local bourse extended its gains,… Read More
CIAC taps expertise of global tech firms for nat’l food hub
June 25, 2024, 5:38 pm
MANILA — The Clark International Airport Corp. (CIAC) has tapped the expertise of global technology firms in the food industry to modernize the PHP8.5-billion National Food Hub inside the civil aviation complex in Clark. CIAC shared in a statement Tuesday that it signed a memorandum of… Read More
BTr fully awards Treasury bills
June 25, 2024, 4:00 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for Treasury bills (T-bills). The 91-, 183-, and 364-day T-bills fetched average rates of 5.666 percent, 5.930 percent, and 6.031 percent, respectively – all lower than the prevailing secondary market rates. The… Read More
South Cotabato’s first IT park to start operation in 2026
June 25, 2024, 3:25 pm
MANILA – The first information technology (IT) park in South Cotabato will begin operation in January 2026, the Philippine Economic Zone Authority (PEZA) said Tuesday. In a statement, the PEZA said Deputy Director General for Operations Vivian Santos signed a registration agreement with Matutum… Read More
BIR removes 5-year validity period of eCARs
June 25, 2024, 1:22 pm
MANILA – The Bureau of Internal Revenue (BIR) has removed the five-year validity period of electronic Certificate Authorizing Registration (eCAR). In a statement on Tuesday, BIR said Commissioner Romeo Lumagui Jr. issued Revenue Regulation (RR) No. 12-2024 which extends the validity of all… Read More
BOI on track to achieving 2024 target approvals
June 25, 2024, 11:50 am
MANILA – Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo said the investment promotion agency (IPA) remains on track to achieve its target approvals this year of PHP1.3 trillion to PHP1.5 trillion. In a briefing in Makati City on Monday, Rodolfo said he is… Read More
Big-time oil price hike set Tuesday
June 24, 2024, 5:57 pm
MANILA – Pump prices will be more expensive starting Tuesday (June 25) as oil firms will implement more than PHP1 increase. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, Shell, and Unioil said they would increase gasoline prices by PHP1.40 per liter, and diesel… Read More
BMI: PH tourist arrivals to surpass pre-pandemic level in 2025
June 24, 2024, 5:54 pm
MANILA – Fitch Solutions’ unit BMI has forecast that tourist arrivals in the Philippines next year may exceed the 8.2 million visitors before the Covid-19 pandemic. In a commentary released Monday, BMI projected a 32.6-percent increase in tourist arrivals this year to reach 6.6 million from 5… Read More
Stocks up, peso closes flat on Monday
June 24, 2024, 4:59 pm
MANILA – After eight consecutive days of decline, the Philippine stock market rebounded on Monday as investors bought stocks at bargain levels, while the peso closed flat. The Philippine Stock Exchange index (PSEi) gained 113.98 points to close at 6,272.46. All Shares also went up by 32.57… Read More
NEDA chief: Gov't flexible to review, change rice tariff
June 24, 2024, 4:53 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Monday assured that the government has flexibility to review and tweak rice tariff depending on changes in the economic environment. "It's already in the EO signed by the President, 'di ba, that there is a… Read More
