Business
Local bourse up on positive investor sentiment, peso moves sideways
December 28, 2023, 5:53 pm
MANILA – The local Philippine Stock Exchange index (PSEi) recorded modest gains on Thursday, while the peso moved sideways. The PSEi gained 56.31 points, closing at 6,519.11, while All Shares also went up by 24.70 points to 3,440.59. "The index returned above the 6,500 level in thin trading as… Read More
Extension of reduced tariff on agri products to help manage inflation
December 28, 2023, 4:55 pm
MANILA – The extension of the reduced Most Favored Nation (MFN) tariff rates for key agricultural commodities will help keep prices of food stable, the National Economic and Development Authority (NEDA) said on Thursday. Executive Order (EO) 50, issued by President Ferdinand R. Marcos Jr. on… Read More
Budget deficit down in November
December 28, 2023, 3:59 pm
MANILA – The national government's (NG) budget deficit went down by 24.75 percent in November due to the growth in revenue collection and a decline in public spending. In a report on Thursday, the Bureau of the Treasury (BTr) said the budget deficit during the month amounted to PHP93.3 billion,… Read More
Allied biz groups pushing through with massive job-creation campaign
December 27, 2023, 7:06 pm
MANILA – Three of the country’s most influential business organizations are setting in motion in January a massive employment-generation campaign that targets to yield over one million jobs in the span of about one year. Sergio Ortiz-Luis Jr., president of the Employers’ Confederation of the… Read More
Gov't debt payments up 59% in Jan.-Oct. 2023
December 27, 2023, 5:31 pm
MANILA – The debt paid by the national government this year has already amounted to more than P1.47 trillion as of end-October, data from the Bureau of the Treasury (BTr) showed. Latest data from the BTr showed that the Marcos administration paid a total of PHP1.478 trillion from January to… Read More
Local bourse, peso down on Wednesday
December 27, 2023, 5:30 pm
MANILA – Local shares closed Wednesday's trading weak, while the peso depreciated. The Philippine Stock Exchange index (PSEi) closed at 6,462.80, shedding 38.20 points on the first trading day of the week. All Shares also went down by 11.41 points to 3,415.89. "The local bourse dropped by 38.20… Read More
Upper Wawa Dam to start operations by end of 2025
December 27, 2023, 4:53 pm
MANILA – The Upper Wawa Dam is on track to begin commercial operations by the end of 2025, Prime Infra-led WawaJVCo Inc. said on Wednesday. In a statement, the company said construction progress in the Upper Wawa Dam, which is the second phase of the Wawa Bulk Water Supply Project, is over 70… Read More
US bans Apple from selling latest watches
December 27, 2023, 2:31 pm
WASHINGTON – Apple was banned from selling its latest watches in the United States Tuesday after the Biden administration declined to veto a ruling by the International Trade Commission (ITC). The ban on sales of the Watch Ultra 2 and Watch Series 9 was the result of a patent dispute between… Read More
BOI exceeds pre-pandemic investment approvals
December 27, 2023, 1:04 am
MANILA – Investment approvals at the Board of Investments (BOI) has reached PHP1.16 trillion as of Dec. 18, which already exceeded the pre-pandemic level. The BOI reported that the current approved investments were higher than the PHP1.14 trillion pledges in 2019. This is also a record-high… Read More
NEDA urged to put up digital agri database
December 26, 2023, 6:48 pm
MANILA – Local food producers have urged the National Economic and Development Authority (NEDA) to establish in 2024 a long-delayed agricultural statistics database that will be available to all stakeholders online. In an interview on Tuesday, Elias Jose Inciong, president of the United Broiler… Read More
Economist projects December inflation to hit 4.1%
December 26, 2023, 1:46 pm
MANILA – Headline inflation likely stayed at 4.1 percent in December as global oil prices continue to decline, an economist said Tuesday. "My inflation estimate for December 2023: 4.1 percent year-on-year largely due to the net decline in global crude oil prices," Rizal Commercial Banking… Read More
PH one of top performing Asian countries in 2023
December 26, 2023, 1:20 pm
MANILA – The Philippine economy grew by 5.9 percent in the third quarter of the year, bringing the year-to-date economic growth to 5.5 percent. National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said this makes the Philippines among the best-performing economies in… Read More
Big-time oil price hike set Dec. 26
December 25, 2023, 3:35 pm
MANILA – On Christmas Day, oil companies announced a big-time hike in pump prices starting in the morning of Dec. 26. In separate statements, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil and Shell said they will increase gasoline prices by PHP1.60 per liter and PHP1.70 per liter on diesel.… Read More
PEZA: Transport modernization lures EV firms to set up factory in PH
December 24, 2023, 4:13 pm
MANILA – The transport modernization program of the government has become an attractive factor to lure foreign companies to establish their electric vehicle (EV) manufacturing in the country, Philippine Economic Zone Authority (PEZA) Director General Tereso Panga said. Panga told reporters… Read More
GOCC dividend collections hit P99.2-B in 2023
December 24, 2023, 12:19 pm
MANILA – Dividends collected from government-owned and controlled corporations (GOCCs) amounted to over PHP90 billion this year, data from the Department of Finance (DOF) showed. In its yearend report, the DOF said the national government has so far collected PHP99.2 billion from 49 remitting… Read More
PEZA eyes PHP250-B approvals in 2024
December 22, 2023, 8:45 pm
MANILA – The Philippine Economic Zone Authority (PEZA) targets to approve PHP250 billion in investments in 2024. In a press briefing in its headquarters in Pasay City Friday, PEZA Director General Tereso Panga said the investment promotion agency (IPA) wants a return to its peak level where it… Read More
Local index rebounds, peso strong for 3 straight days
December 22, 2023, 8:02 pm
MANILA – The local index rebounded from its two-day losses while local currency finished strong for the third straight day. The Philippine Stock Exchange index (PSEi) closed ahead of the long holidays gaining by 31.77 points to 6,501.00 level, with All Shares increasing by 23.04 points to… Read More
BOI green lanes ACEN's PHP38-B wind farm project
December 22, 2023, 3:54 pm
MANILA – Another renewable energy (RE) project has received an endorsement for expediting their permits and licenses through the Board of Investments’ (BOI) green lane endorsement. On Friday, BOI said it has awarded the Green Lane Certificate of Endorsement to ACEN's PHP37.7-billion ISLA Wind… Read More
PH poverty rate declines to 22.4% in 1st half 2023
December 22, 2023, 3:12 pm
MANILA – The country's poverty rate went down to 22.4 percent in the first half of the year from 23.7 percent in the same period in 2021. In a briefing on Friday, Philippine Statistics Authority Undersecretary and National Statistician Dennis Mapa said this is equivalent to 25.24 million… Read More
Chicken oversupply seen to offset leaner pork stocks
December 21, 2023, 8:53 pm
MANILA – The reported shortage of pork in certain parts of the country can be counterbalanced by an existing oversupply of chicken meat, according to local poultry producers. In an interview on Thursday, Elias Jose Inciong, president of the United Broiler Raisers Association (UBRA), said a… Read More
