Business
Privatization and Management Office remits PHP1.2B to nat’l treasury
December 17, 2023, 2:54 pm
MANILA – The Privatization and Management Office (PMO) has remitted Php1.210 billion to the Bureau of the Treasury, the Department of Finance (DOF) said. The amount exceeded the target by 84.6 percent and also surpassed the performance from 2018 to 2021, DOF data showed. "Their target is PHP500… Read More
DBCC revises 2024 forecast, proposes P6.12-T budget in 2025
December 15, 2023, 8:45 pm
MANILA – The Development Budget Coordination Committee (DBCC) has kept the gross domestic product (GDP) growth outlook for this year and revised downward its growth forecast. In a statement Friday, the DBCC said it maintained the growth projection of 6 percent to 7 percent this year after the… Read More
BSP sees easing of surplus in 2024
December 15, 2023, 8:31 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) projected that the country’s balance of payments (BOP) for 2023 and 2024 will post surpluses but will be narrower next year. In a statement Friday, the central bank forecast that the country’s surplus as of the fourth quarter of 2023 is seen to… Read More
Pursue economic goals amid stable pump prices: oil exec
December 15, 2023, 8:10 pm
MANILA – A local oil executive on Friday said relatively low prices of petroleum products in the country present a good opportunity for the government to focus on food security goals and for private businesses to pursue expansion targets. In an interview, Eastern Petroleum chairperson Fernando… Read More
ADB, PH sign 2 loan deals
December 15, 2023, 3:23 pm
MANILA – The Philippine government, through the Department of Finance (DOF), and the Asian Development Bank (ADB) signed on Friday the first tranche of the financing for the Bataan-Cavite Interlink Bridge (BCIB) and the Infrastructure Preparation and Innovation Facility-Second Additional… Read More
109 PPP projects worth PHP2.4-T in the pipeline
December 15, 2023, 2:35 pm
MANILA -- The Public-Private Partnership (PPP) Center has 109 projects in the pipeline for undertaking between the government and private sectors that can boost the Marcos administration’s Build Better More infrastructure program, its Deputy Executive Director Eleazar Ricote said. In a press… Read More
British commerce chamber in PH bares wish list to gov’t for 2024
December 14, 2023, 8:50 pm
MANILA – The British Chamber of Commerce of the Philippines (BCCP) has listed its requests to the Marcos administration for 2024 that aim to attract more foreign investments, especially those coming from the United Kingdom (UK). On top of its wish list, BCCP executive director Chris Nelson said… Read More
Bakers, retailers: Noche Buena food prices to remain stable
December 14, 2023, 8:26 pm
MANILA – Prices of highly-in-demand food products are expected to remain stable throughout the Christmas season despite upward price movements in certain imported items and upticks in manufacturers' operational expenses. In an interview on Thursday, Lucito Chavez, president of the Asosasyon ng… Read More
PSEi, peso close strong on dovish Fed outlook
December 14, 2023, 7:55 pm
MANILA – The local index and the Philippine peso finished the day strong on Thursday following the dovish outlook of the United States’ central bank. “This Thursday, the local market rose by 154.74 points (2.47 percent) to 6,410.48 as investors cheered the Federal Reserve’s dovish outlook… Read More
DOE braces for El Niño's impact on power
December 14, 2023, 6:44 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla said Thursday there is an adequate power supply next year despite the weather bureau forecast that El Niño will likely extend up to second quarter of 2024. In a press briefing in Taguig City, Lotilla said even with sufficient power… Read More
BSP maintains policy rates
December 14, 2023, 6:41 pm
MANILA – The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) kept the policy rates unchanged on Thursday. "After its meeting on monetary policy today, the Monetary Board decided to keep the BSP’s Target Reverse Repurchase (RRP) Rate unchanged at 6.50 percent. Accordingly, the interest… Read More
NDC eyes investing P31-B in 18 projects
December 14, 2023, 2:47 pm
MANILA – The National Development Company (NDC), the investment arm of the Department of Trade and Industry (DTI), is evaluating 18 projects to invest into. NDC General Manager Anton Mauricio said Thursday that the state-owned enterprise is eyeing to invest around PHP30.72 billion for these… Read More
PTTC, food firm partner to help retirees engage in entrepreneurship
December 13, 2023, 8:30 pm
MANILA – The Philippine Trade Training Center (PTTC) of the Department of Trade and Industry (DTI) and listed food manufacturing company Monde Nissin Corp. have partnered to equip the firm’s retirees with entrepreneurial skills that will help them transition into their careers. On Wednesday,… Read More
PSEi sheds, peso weakens to P56-level Wednesday
December 13, 2023, 8:09 pm
MANILA – Both the local shares and currency finished the day with losses. The benchmark Philippine Stock Exchange index (PSEi) shed 36.65 points at 6,255.74, with All Shares also down by 14.32 points at 3,339.14. All counters closed in the red territory except for Services, which inched up by… Read More
Romblon seen sustaining economic growth momentum
December 13, 2023, 5:28 pm
ROMBLON, Romblon – The provincial economy is expected to have sustained its growth momentum in 2023, if its performance last year gives any indication, according to the Philippine Statistics Authority (PSA). In an interview on Wednesday, Jonny Solis, chief statistical specialist at PSA Romblon,… Read More
Gov't ramps up efforts to mitigate impact of El Niño
December 13, 2023, 5:16 pm
MANILA – The government is ramping up efforts to mitigate the impacts of El Niño, the National Economic and Development Authority (NEDA) said on Wednesday. "We have been mobilizing for the anticipated impacts of the upcoming El Niño through a comprehensive, coordinated, science-based approach… Read More
NEDA optimistic on hitting 6% economic growth for 2023
December 13, 2023, 4:15 pm
MANILA – The National Economic and Development Authority (NEDA) is optimistic that the lower end of the government's economic growth target for 2024 and 2025 will still be attained despite headwinds. "In the face of many domestic and international challenges, we've effectively implemented the… Read More
BOI gives green lane endorsement to P3.4-B vegetables, dairy projects
December 13, 2023, 2:21 pm
MANILA – Two agriculture projects of Metro Pacific Investments Corp. (MPIC) have received green lane certificate of endorsement from the Board of Investments’ (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI), the investment promotion agency said on Wednesday. These projects are… Read More
DTI asks retailers to adhere to Noche Buena price guide
December 12, 2023, 7:34 pm
MANILA – The Department of Trade and Industry (DTI) called on retailers to adhere to the price guide on Noche Buena items after it received reports of prices higher than those set by manufacturers. DTI Secretary Alfredo Pascual met with manufacturers on Dec. 11 after reports that the prices of… Read More
North Negros city adopts electronic biz registration, payment system
December 12, 2023, 6:12 pm
BACOLOD CITY – The City of San Carlos in Negros Occidental has gone digital to make permit processing and licensing convenient for local businesses. The northern Negros city led by Mayor Renato Gustilo is implementing the electronic Business One-Stop Shop (eBOSS) platform with an integrated… Read More
