Business
PBBM’s directive on imports boosts stock investors; peso ends strong
April 22, 2024, 9:36 pm
MANILA – The directive of President Ferdinand R. Marcos Jr. to ease the importation of agricultural products has boosted investors' sentiment on Monday, bringing back the local index to the green territory, while the peso closed strong at the start of the week. The Philippine Stock Exchange… Read More
Buffer stocking of agri products eyed to counter price manipulation
April 22, 2024, 9:34 pm
MANILA – The Department of Agriculture (DA) has proposed during the National Price Coordinating Council (NPCC) meeting a maximum of 10 days buffer stock of agricultural products to counter illegal price manipulation. In a press conference after the NPCC meeting at the Department of Trade and… Read More
NEDA backs proposal to extend RCEF
April 22, 2024, 6:56 pm Updated on April 22, 2024, 7:12 pm
MANILA – The National Economic and Development Authority (NEDA) is supporting the proposal to extend the Rice Competitiveness Enhancement Fund (RCEF) beyond 2024. "I'm fine. I'm okay with that, " NEDA Secretary Arsenio Balisacan told reporters on the sidelines of the 2024 National Innovation Day… Read More
Over $700M invested in PH digital banking sector
April 22, 2024, 5:46 pm
MANILA – The Philippine digital banking sector already received more than USD700 million investments from global and local investors since 2021. In a statement on Monday, the Digital Bank Association of the Philippines (DiBA PH) said the number of depositors also grew to 5.9 million as of… Read More
PEZA registers P15-B projects in April
April 22, 2024, 5:19 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has registered 23 new projects worth PHP15 billion in April 2024 alone. The investment approvals for this month were higher than the total project registrations from January to March 2024 amounting to PHP14.95 billion. In a statement Monday,… Read More
3 projects pitched for Luzon Economic Corridor – BCDA
April 22, 2024, 4:53 pm
MANILA – The Bases Conversion and Development Authority (BCDA) said on Monday three of its projects are being endorsed for the proposed Luzon Economic Corridor. The BCDA said the Subic-Clark Railway Project (SCRP), expansion of the Clark International Airport, and the Clark National Food Hub are… Read More
BTr fully awards Treasury bills
April 22, 2024, 4:52 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills) at higher rates. The 91-, 182-, and 364-day T-bills fetched average rates of 5.888 percent, 6.002 percent, and 6.080 percent, respectively. Last week, the average rate of the 90-, 181-, and… Read More
Q1 2024 vehicle sales up 12.7%
April 22, 2024, 4:17 pm
MANILA – The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturer Association (TMA) reported on Monday that local vehicle sales from January to March 2024 increased by 12.7 percent. From 97,284 units sold during the same period in 2023, vehicle sales shot… Read More
Over 179M coins deposited in BSP machines
April 22, 2024, 2:52 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said PHP648.9 million worth of coins have been deposited through its coin deposit machines (CoDMs) as of April 15. In a social media post on Monday, BSP said the amount is equivalent to 179.6 million pieces of coins from over 161,000 transactions.… Read More
Oil firms to adjust prices on April 23
April 22, 2024, 2:18 pm
MANILA – Oil companies are set to adjust petroleum prices on Tuesday, April 23. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they would increase gasoline prices by PHP0.55 per liter and slash prices of diesel by PHP0.95 per liter. For six consecutive… Read More
PH first to sign rapid response to crisis pact with WB
April 22, 2024, 11:12 am
MANILA – The Philippines recently signed the Rapid Response Option (RRO) agreement with the World Bank Group (WBG), allowing the country to deploy resources from its existing bank portfolio more effectively to deliver a swift response when crises occur. The Philippines is the first country to… Read More
BOI reaches almost 50% of 2023 pledges in 2024 Q1
April 21, 2024, 6:35 pm
MANILA — The Board of Investments (BOI) registered PHP607.22 billion worth of projects from January to April 17 this year. BOI Director Sandra Marie Recolizado said it is almost half of the registered projects for the full year of 2023, valued at PHP1.26 trillion. She told the media on Friday… Read More
PH to host Indo-Pacific biz forum in May
April 21, 2024, 3:34 pm
MANILA – The Philippines will co-host the 6th Indo-Pacific Business Forum (IPBF), the United States government’s premier commercial event in the region, the Department of Trade and Industry (DTI) said. In a document shared by DTI recently, the IPBF on May 21 will gather 500 participants… Read More
Eggs smaller but cheaper, plentiful, poultry raisers say
April 20, 2024, 6:33 pm
BARAS, Rizal – The Philippine Egg Board (PEB) assured that the apparent shrinking sizes of eggs will not contribute to food inflation as prices have always varied according to their sizes. In an interview on Saturday, PEB chair Gregorio San Diego explained that eggs have always been classified… Read More
Stock market, peso close week with losses
April 19, 2024, 6:44 pm
MANILA – The negative sentiment of investors amid the heightened geopolitical tension in the Middle East pulled down both the local stock market and the currency on Friday. "The local bourse dropped by 80.19 points (1.23 percent) to 6,443.00 as tensions in the Middle East heightened following… Read More
PH posts $1.2-B balance of payments surplus in March
April 19, 2024, 5:30 pm
MANILA – The Philippines posted a USD1.2-billion balance of payments (BOP) surplus in March this year, the Bangko Sentral ng Pilipinas (BSP) said on Friday. Data showed that the BOP surplus last month was slightly lower than the USD1.3 billion surplus recorded in March last year. "The BOP… Read More
Visayas grid also placed under red alert
April 19, 2024, 5:29 pm Updated on April 19, 2024, 6:11 pm
MANILA – The National Grid Corporation of the Philippines (NGCP) placed the Visayas grid under red alert status on Friday afternoon as more plants went on unplanned outage. From 15 power plants on shutdown early Friday, the NGCP in its updated advisory this afternoon said 18 power plants are now… Read More
Apple keen to invest in AI development in new capital: Minister
April 19, 2024, 2:42 pm
JAKARTA – Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Padjaitan revealed that Apple is interested in investing in the development of artificial intelligence (AI) in Indonesia’s new capital city Nusantara. Pandjaitan, in his Instagram post at luhut.pandjaitan,… Read More
World Bank to support PH's infra program, tax collection efforts
April 19, 2024, 2:33 pm
MANILA – The World Bank has committed to provide support to the Philippine government's infrastructure program and efforts to improve tax collection, the Department of Finance (DOF) said on Friday. In a social media post, the Finance department said Finance Secretary Ralph Recto engaged with… Read More
Longer red alert in Luzon grid on Friday
April 19, 2024, 12:57 pm
MANILA – There will be a longer period of red alert status for the Luzon grid on Friday, the fourth straight day that the National Grid Corporation of the Philippines (NGCP) issued an alert status due to tight power supply. The NGCP placed the Luzon grid anew in red alert on Apr. 19 from 3 to 4… Read More
