Business
PH to be one of fastest-growing economies in East Asia and Pacific
April 1, 2024, 3:58 pm
MANILA – The World Bank on Monday retained its 2024 Philippine economic growth forecast at 5.8 percent and expects the country to be the second fastest-growing economy in East Asia and the Pacific. In its April 2024 East Asia and Pacific Economic Update report, it also revised upward its 2025… Read More
South Korea exports rise for 6th straight month in March
April 1, 2024, 3:07 pm
SEOUL – South Korea's exports moved up for the sixth consecutive month in March on the back of the robust performance of chips, data showed Monday. Outbound shipments gained 3.1 percent on-year to USD56.5 billion last month, according to the data compiled by the Ministry of Trade, Industry and… Read More
Modest growth for PH manufacturing PMI in March
April 1, 2024, 2:15 pm
MANILA – The country’s manufacturing purchasing managers’ index (PMI) recorded a modest growth in March this year at 50.9. March's PMI was slightly lower than February's 51 but a PMI above 50 is still considered growth. The manufacturing PMI gauges the health of the local sector, with scores… Read More
BSP: Hot money inflows hit $686 million in February
March 28, 2024, 10:40 am
MANILA – Foreign portfolio investments or hot money registered with the Bangko Sentral ng Pilipinas (BSP) through authorized banks recorded net inflows of USD689 million in February this year. Data released by the BSP late Wednesday showed that this resulted from the USD1.5 billion gross inflows… Read More
Tech industry leaders back int’l partnerships to expand smart cities
March 28, 2024, 9:51 am
TAIPEI, Taiwan – Industry leaders in information and communications technology (ICT) are pushing for international partnerships to further expand the establishment of smart cities worldwide. The stakeholders said partnerships with ICT companies and governments across the world will promote… Read More
PSEi slightly up on last-minute bargain hunting, peso flat
March 27, 2024, 5:10 pm
MANILA – The local bourse gained 5.36 points on last-minute bargain hunting while the peso moved sideways during trading on Wednesday, the last trading day before the Holy Week holidays. The Philippine Stock Exchange index closed at 6,903.53 while All Shares also gained 8.96 points to close at… Read More
ITSO reports record-high intellectual property filings in 2023
March 27, 2024, 3:00 pm
MANILA – The Intellectual Property of the Philippines (IPOPHL) said on Wednesday IP filings through its Innovations and Technology Support Offices (ITSOs) hit an all-time high last year as more universities and colleges joined the Innovation and Technology Support Program. In a statement, the… Read More
Cocoa prices nearly double on supply concerns in 3-month period
March 27, 2024, 2:09 pm
BERLIN – Cocoa prices have nearly doubled in three months to record highs, influenced by the decline in global supply. Prices hit a historic high as weather conditions in West Africa put chocolate producers in a difficult position, with the price per ton for May-dated cocoa traded on the New… Read More
Taiwan tech firms showcase 5G, AI innovative solutions
March 27, 2024, 11:37 am
TAIPEI, Taiwan – Various information and communication technology companies in Taiwan showcased their various applications of artificial intelligence (AI) and 5G technologies as the island positions itself to be a smart city powerhouse during the recent 2024 Smart City Summit and Expo (SCSE)… Read More
Residential real estate prices up in Q4 2023
March 27, 2024, 10:33 am
MANILA – Residential real estate prices went up year-on-year in the fourth quarter of 2023 but registered a contraction quarter-on-quarter. Residential Real Estate Price Indices (RREPI) data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed a 6.5 percent year-on-year increase… Read More
BIR issues over 100K digital TIN IDs
March 27, 2024, 10:03 am
MANILA – The Bureau of Internal Revenue's (BIR) Online Registration and Update System (ORUS) has already issued 102,046 digital Tax Identification Number (TIN) IDs as of March 25 this year. “Reaching the 100,000 mark for Digital TIN IDs issued by the BIR shows our effort to promote Excellent… Read More
PH vehicle sales up 23% in February
March 27, 2024, 9:07 am
MANILA – Automotive vehicle sales went up by 23.2 percent in February this year, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported Tuesday. The CAMPI and TMA joint report released late Tuesday showed that vehicle sales… Read More
BTr fully awards re-issued Treasury bonds
March 26, 2024, 5:38 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the re-issued seven-year Treasury bonds (T-bonds) during Tuesday's auction. With a remaining term of six years and four months, the re-issued bond fetched an average rate of 6.237 percent, lower than the 6.375 percent coupon set upon… Read More
Stocks recover, peso moves sideways on Tuesday
March 26, 2024, 5:36 pm
MANILA – Local stocks bounced back on Tuesday as investors looked for bargains. The Philippine Stock Exchange index (PSEi) gained 45.07 points, closing at 6,898.17, while All Shares rose 20.34 points to 3,598.55. "This Tuesday, the local market rose by 45.07 points (0.66%) to 6,898.17 as… Read More
CDC remits P1.80B cash dividends to national treasury
March 26, 2024, 4:38 pm
MANILA – The Clark Development Corporation (CDC) said it has remitted an all-time high PHP1.80 billion in cash dividends to the national government. In a statement on Monday, the CDC said the cash dividend last year was 49 percent higher than the PHP1.207 billion remittance in 2022. Department… Read More
OPEC Secretary General calls for increased investments in oil industry
March 26, 2024, 3:02 pm
ABU DHABI – Haitham Al Ghais, Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC), underscored the need for increased investments in the oil industry to meet global energy demands and sustain economic growth. He said these investments are crucial for ensuring… Read More
LandBank digital banking services to stay available during Holy Week
March 26, 2024, 2:50 pm
MANILA –State-run Land Bank of the Philippines (LandBank) on Tuesday assured that all digital channels will remain up and running throughout the Holy Week. In a statement, the bank said clients can perform banking transactions during the four-day long weekend using the LandBank Mobile Banking… Read More
South Korea, Taiwan increase inspection on imported chili
March 26, 2024, 2:10 pm
HÀ NỘI – The Republic of Korea (RoK) and Taiwan have increased the inspection on imported chili, including from Việt Nam, with aims to ensure safety and quality of these food items entering the markets. The Việt Nam Trade Office in RoK said that it has received a notice from the South… Read More
Tech firm Ericsson to lay off 1,200 staffers
March 26, 2024, 2:06 pm
ISTANBUL – Swedish-based tech company Ericsson announced on Monday that it will lay off 1,200 staff as part of its global initiatives to improve its cost position. The staff reduction will be done in Sweden, Ericsson said. Ericsson expects "a challenging mobile networks market in 2024, with… Read More
DOE, PNP sign MOA for Oplan LIRA
March 25, 2024, 8:45 pm
MANILA – The Department of Energy (DOE) and the Philippine National Police (PNP) on Monday signed a memorandum of agreement (MOA) to implement the Liquefied Petroleum Gas Industry Regulation Act (LIRA). Signed by DOE Secretary Raphael Lotilla and PNP Chief Gen. Benjamin Acorda Jr., the MOA… Read More
