Business
Investing in kids' early years to boost PH human capital: WB
June 24, 2024, 3:36 pm
MANILA – The government is implementing programs to support human capital but more needs to be done to take advantage of Filipinos' potential to achieve long-term growth, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Monday. Human capital encompasses the… Read More
Japan delivers P22-B investments to PH; adds P7.4-B in pledges
June 24, 2024, 3:07 pm
MANILA – Japanese companies are delivering their investment commitments to the Philippines that they presented to President Ferdinand R. Marcos Jr. during his official trips to the East Asian country, the top trade official said on Monday. Department of Trade and Industry (DTI) Secretary Alfredo… Read More
BCDA secures 2 deals during Japan trip
June 23, 2024, 11:05 am
MANILA – The Bases Conversion and Development Authority (BCDA) has formalized two agreements with Japanese organizations during a high-level visit to Tokyo, ensuring the smart and sustainable development of John Hay Special Economic Zone, New Clark City, and its other economic zones. The first… Read More
BOI green lanes P4.8-B hydroelectric power project in N.Vizcaya
June 21, 2024, 7:37 pm
MANILA – The Board of Investments (BOI) said Friday it has granted Certificate of Green Lane Endorsement to FDC Renewables Corp. for its 33.4-megawatt Pampang Hydroelectric Power Project in Nueva Vizcaya worth PHP4.8 billion. The green lane endorsement was awarded last June 11, and is part of… Read More
Meralco opens bidding for 400MW power supply
June 21, 2024, 7:19 pm
MANILA – The Manila Electric Company (Meralco) has initiated the Competitive Selection Process (CSP) for 400 megawatts (MW) of power supply to meet the increasing energy demand starting next year. This follows the Department of Energy’s (DOE) issuance of a Certificate of Conformity to… Read More
Stocks down on foreign net selling, peso closes flat
June 21, 2024, 6:08 pm
MANILA – The local stock market ended the last trading day of the week in the negative territory due to net foreign selling, while the peso closed almost flat. The Philippine Stock Exchange index (PSEi) dropped 186.08 points to 6,158.48, while the broader All Shares also fell 65.11 points to… Read More
Economist: BSP likely to maintain policy rates next week
June 21, 2024, 4:20 pm
MANILA – The Bangko Sentral ng Pilipinas' (BSP) Monetary Board will likely keep policy rates unchanged during its meeting next week, an economist said. In a Viber message on Friday, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the BSP will likely match the United… Read More
Recto urges Japanese firms to invest in PH
June 21, 2024, 2:20 pm
MANILA – Finance Secretary Ralph Recto urged Japanese investors to invest in the Philippines and assured them that ongoing amendments to the country’s fiscal incentives system will address their key concerns. "To begin with, the Philippines is booming and has all the makings of a tiger… Read More
PSEi down on investors’ wait-and-see mode, peso almost flat
June 20, 2024, 7:44 pm
MANILA – The local stock barometer continued to decline for the seventh straight day as investors remained on a wait-and-see mode, while the peso closed sideways. The benchmark Philippine Stock Exchange index (PSEi) finished the day decreasing by 0.34 percent to 6,344.56, while the broader All… Read More
BIR: Tax liability of seized cigarettes, vape reaches P7.2-B
June 20, 2024, 7:20 pm
MANILA – The total tax liability from the confiscated illicit cigarettes and vape products this year has already amounted to more than PHP7 billion, the Bureau of Internal Revenue (BIR) said. "Ito pong nahuli natin ngayong taon pa lang na ito ay marami-rami na ‘no. Sa sigarilyo, mahigit… Read More
P2.32-T investments endorsed for green lane treatment
June 20, 2024, 3:51 pm
MANILA – The Board of Investments (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI) has issued green lane certificates to 74 projects with total capital amounting to around PHP2.321 trillion as of Thursday. Data provided by the BOI to trade reporters showed that the majority, or… Read More
BIR allows use of remaining ORs until fully consumed
June 20, 2024, 3:35 pm
MANILA – Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. has ordered the bureau to allow the use of the remaining official receipts until they are fully consumed, instead of only until Dec. 31, 2024. In a statement on Thursday, the BIR said the pronouncement is included in… Read More
PH records $2-B balance of payments surplus in May
June 20, 2024, 10:03 am
MANILA – The country's balance of payments (BOP) posted a surplus in May this year, a reversal from the deficit recorded in the same month last year. Data released by the Bangko Sentral ng Pilipinas (BSP) Wednesday showed that the BOP position last month recorded a surplus of USD2 billion, a… Read More
PCCI urges gov’t to look at power subsidy as key to lure investors
June 19, 2024, 7:30 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has urged the government to consider power subsidy as a key policy to attract investments into the country. During its Power Summit 2024 in Makati City Wednesday, PCCI president Enunina Mangio said reliable energy supply and… Read More
BTr partially awards Treasury bonds
June 19, 2024, 7:28 pm
MANILA – The Bureau of the Treasury (BTr) partially awarded the re-issued 20-year Treasury bond (T-bond) during Wednesday's auction. With a remaining term of 14 years and seven months, the re-issued T-bond was awarded at an average rate of 6.781 percent. The 15-year T-bond average auction yield… Read More
Fintech firm aims to grow loan portfolio to $2B in next 5 years
June 19, 2024, 6:40 pm
MANILA – Financial technology firm Salmon Group Ltd. said on Wednesday it is eyeing a significant increase in its loan portfolio in the next three to five years. "What I can share is where we want to be in three to five years. We want to have a USD2 billion loan portfolio. So that's like PHP100… Read More
PSEi drops for 6th straight week, peso weak
June 19, 2024, 6:09 pm
MANILA – The local bourse slipped anew on Wednesday’s trading, now losing for six straight trading days, while the Philippine peso closed weak. The Philippine Stock Exchange index (PSEi) closed in the red territory, declining by 0.04 percent or 2.77 points to 6,366.03. Rizal Commercial Banking… Read More
Japanese firms eye expansion in PH
June 19, 2024, 4:31 pm Updated on June 19, 2024, 4:57 pm
MANILA – Several Japanese companies expressed intent to expand their operations in the Philippines, Finance Secretary Ralph Recto said. Recto in a Viber message to the Philippine News Agency on Wednesday said one company is planning to spend roughly PHP46 billion for its expansion. "One company… Read More
Gov't issues EO 59 guidelines to cut red tape in key infra projects
June 18, 2024, 9:31 pm
MANILA – Government agencies on Tuesday signed and launched the implementing guidelines of Executive Order 59 that will streamline the permitting process for the country's Infrastructure Flagship Projects (IFPs). The guidelines were signed by National Economic and Development Authority (NEDA)… Read More
SSS eyes enhancing new pension scheme
June 18, 2024, 6:55 pm
MANILA – The Social Security System (SSS) is planning to enhance the MySSS Pension Booster to allow retirees to avail of the program. "Actually, we’re trying to introduce dahil mayroon hong mga clamor na kahit pensioner na gusto pa rin kasi nga kaya daw nila pang maghulog and then it’s also… Read More
