Business
PSEi down amid global crude oil price correction, peso strengthens
December 21, 2023, 7:36 pm
MANILA – The local stock barometer declined while the peso continued to strengthen against the United States dollar on Thursday. The benchmark Philippine Stock Exchange index (PSEi) dropped 81.23 points, or 1.2 percent, to 6,439.52, while the broader All Shares also fell by 46.06 points to… Read More
P82-B offshore wind project gets green lane endorsement
December 21, 2023, 6:20 pm
MANILA – The PHP81.68-billion offshore wind project of Ivisan Windkraft Corp. has been given a green lane endorsement from the Board of Investments’ (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI). In a statement Thursday, BOI said its Managing Head and Trade Undersecretary… Read More
German firms in PH more optimistic in biz, jobs outlook vs. ASEAN
December 21, 2023, 5:09 pm
MANILA – German firms operating in the Philippines have the highest optimism in terms of business and hiring outlook for the next 12 months compared to their peers in other Southeast Asian countries, the German-Philippine Chamber of Commerce and Industry (GPCCI) said on Thursday. Analyzing the… Read More
Chinese investors see Cagayan as prospective investment hub
December 20, 2023, 8:42 pm
TUGUEGARAO CITY – After a two-day tour in Cagayan, a group of Chinese businessmen have expressed interest in investing in the economic and industrial zones of the province. Cagayan Governor Manuel Mamba told the Philippine News Agency on Wednesday that the Chinese investors led by Vivian Zhang,… Read More
NDC, int´l dev´t org partner to develop 'green startups'
December 20, 2023, 7:50 pm
MANILA – The National Development Company (NDC) and Seoul-based Global Green Growth Institution (GGGI) partnered to support the development of local startups that provide green and sustainable solutions. On Wednesday, NDC General Manager Anton Mauricio and GGGI Country Representative Marcel… Read More
PSEi flat, peso ends strong on mid-week trade
December 20, 2023, 6:59 pm
MANILA – The local bourse finished the day almost flat while peso strengthened on middle of the week’s trading. The Philippine Stock Exchange index (PSEi) slipped by 0.01 percent, or 0.52 points, to 6,520.75 points, while the broader All Shares inched up by 1.70 points to 3,434.41. “The… Read More
BSP urges public to use e-money in sending gifts
December 20, 2023, 6:27 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Wednesday said it will continue to issue fresh banknotes this Christmas season as it urged the public to consider using digital or electronic money in sending cash gifts. In a statement, the BSP said it continues to issue more fresh banknotes… Read More
Households, biz urged to practice energy conservation amid El Niño
December 20, 2023, 6:22 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla has urged households and businesses to expand and deepen their practice of energy conservation to contribute to the judicious use of electricity amid the El Niño phenomenon. Lotilla said Wednesday that temperature and heat index… Read More
BSP likely to keep policy rates unchanged in next few months
December 20, 2023, 6:05 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is unlikely to cut policy rates in the next few months as it remains watchful on possible supply shocks, BSP Governor Eli Remolona Jr. said. "I think we’re unlikely to cut rates in the next few months. We’re in a higher (rate) for longer, when… Read More
DOE: Whole-of-gov’t approach vital in energy transition
December 20, 2023, 5:18 pm
MANILA – The Department of Energy (DOE) has underscored the vital role of a whole-of-government approach in the country’s goal for energy transition. The DOE has lauded recent policies of the Bangko Sentral ng Pilipinas (BSP) and the Board of Investments (BOI) that will promote clean and… Read More
Economists: IMF's PH growth projections for 2024 attainable
December 19, 2023, 8:50 pm
MANILA – Two economists in the academe agreed with the International Monetary Fund’s (IMF) optimistic 2024 forecast on the Philippine economy with fiscal policy-making, geopolitics and environmental factors playing a major role in deciding the country’s economic direction next year. In a… Read More
Antique big coops urged to help small ones grow, succeed
December 19, 2023, 6:52 pm
SAN JOSE DE BUENAVISTA, Antique – Big cooperatives in the province of Antique are being urged to help their small counterparts so that these may also grow and become successful. Cooperative Development Authority (CDA) Assistant Secretary Virgilio Lazaga on Tuesday said big cooperatives, which… Read More
Local shares up, peso moves sideways
December 19, 2023, 6:05 pm
MANILA – Local shares ended higher amid optimism that the Federal Reserve will cut rates next year, while the peso moved sideways on Tuesday. The Philippine Stock Exchange index (PSEi) gained 45.77 points to close at 6,521.27, while All Shares also went up by 16.57 points to 3,432.71.… Read More
Car sales up by 7% in November
December 19, 2023, 5:35 pm
MANILA – Car sales went up by 7.6 percent in November, according to a report released by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). The joint report released on Tuesday showed that car sales during the month reached… Read More
PH among top recipients of remittances in 2023
December 19, 2023, 4:20 pm
MANILA – The Philippines is projected to be the fourth top recipient of remittances this year, a report released by the World Bank said. The World Bank's Migration and Development Brief 39 December 2023 report said the top five recipient countries for remittances this year are India (USD125… Read More
Diesel prices up, kerosene down
December 18, 2023, 7:08 pm
MANILA – Oil companies will adjust pump prices of petroleum products starting Dec. 19. In separate announcements on Monday, Caltex, Cleanfuel, Petro Gazz, PTT, Seaoil and Shell announced a PHP0.10 per liter increase for diesel. However, Caltex, Seaoil and Shell will reduce kerosene prices by… Read More
Stocks flat, peso weakens
December 18, 2023, 7:07 pm
MANILA – The local stock barometer closed almost flat while the peso depreciated on Monday. The Philippine Stock Exchange index (PSEi) shed 2.94 points to close at 6,475.50. All Shares gained 6.59 points to close at 3,416.14. "Philippine shares finished the session flat, as stocks consolidated… Read More
US agency's resumption of grant 'vote of confidence' in Marcos admin
December 17, 2023, 6:05 pm
MANILA – Department of Finance (DOF) Secretary Benjamin Diokno has welcomed the United States Millennium Challenge Corporation’s (MCC) decision to re-engage with the Philippines through the development of threshold programs that will support policy and institutional reforms towards economic… Read More
PH-Korea deal looms on Bataan nuclear plant feasibility study
December 17, 2023, 5:02 pm
MANILA – The Department of Energy (DOE) is mulling a memorandum of understanding (MOU) with Korea Hydro and Nuclear Power Co., Ltd. (KHNP) that will pave the way for the conduct of a feasibility study on the Bataan Nuclear Power Plant (BNPP). DOE Undersecretary Sharon Garin told the Philippine… Read More
IMF: PH to grow 5.3% in 2023
December 17, 2023, 4:48 pm
MANILA – The International Monetary Fund (IMF) expects the country's gross domestic product (GDP) to grow faster in the second half of the year and further accelerate in 2024. "Real GDP growth is expected to bounce back in the second half of 2023 and reach 6 percent in 2024, supported by an… Read More
