Business
PEZA investment approvals from Jan.-Nov. surge 147% to P141B
November 23, 2023, 3:57 pm
MANILA – Investment approvals in the Philippine Economic Zone Authority (PEZA) have continued to recover with pledges between January and November 2023 surging by 147 percent to PHP140.88 billion, from PH57.05 billion in the same period in 2022. The investment pledges in the first 11 months of… Read More
Pent-up consumer demand lifts auto sales in October
November 23, 2023, 3:56 pm
MANILA – Sales of automotive vehicles among members of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) grew 18.6 percent to 38,128 units in October this year from 32,146 units a year ago. According to the joint report released on… Read More
PH joins V20-G7 Global Shield Against Climate Risks Board
November 22, 2023, 7:35 pm
MANILA – The Department of Finance (DOF) on Wednesday said that the Philippines has been formally inducted into the Board of Vulnerable 20 Group of Finance Ministers (V20) - Group of Seven (G7) Global Shield Against Climate Risks last Nov. 15, 2023. In a statement, the DOF, which represented the… Read More
DTI: EU Parliament backs proposed 4-yr extension of EU GSP+
November 22, 2023, 7:15 pm
MANILA – Trade and Industry Secretary Alfredo Pascual said on Wednesday the European Parliament welcomed the proposed extension of the Generalized System of Preference Plus (GSP+) trade agreement with the Philippines, which is set to expire by the end of the year. Under the GSP+, the Philippines… Read More
Diokno optimistic that 2023 growth target will be achieved
November 22, 2023, 7:15 pm
MANILA – Finance Secretary Benjamin Diokno said on Wednesday that the Philippine economy is expected to continue to grow and recover from the pandemic, adding that he was confident that the economic growth target for this year would be attained. “[W]ith a brightening outlook on the horizon and… Read More
NEDA: EO easing flagship projects processes out soon
November 22, 2023, 5:33 pm
MANILA – The executive order (EO) that will fast track the processing of licenses, permits and other requirements for infrastructure flagship projects (IFPs) is expected to be issued before the end of the year, an official from National Economic and Development (NEDA) said on Wednesday. "It's… Read More
DTI wants more 'halal champions' in PH
November 22, 2023, 5:31 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual eyes more 'halal champions' in the Philippines to navigate the country's journey to becoming the most halal-friendly trade and investment destination in the Asia Pacific region. At the Philippine Halal Economy Festival in… Read More
DTI eyes study on SRP's impact on competition
November 21, 2023, 11:29 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual is considering to launch a study "to what extent competition in the consumer products market is happening in the Philippines". In a press conference in Makati City Tuesday, Pascual said the study will involve basic… Read More
Incubation facilities support startup firms
November 21, 2023, 8:54 pm
ILOILO CITY – The Department of Science and Technology (DOST) has established 59 technology business incubation (TBI) facilities across the country, helping startups develop their concepts, make them transferable and ready to get commercialized. “We are just happy with the current figures that… Read More
Higher foreign reserves, US rally back PSEi, peso trading Tuesday
November 21, 2023, 8:27 pm
MANILA – The increase in the country’s foreign reserves and the overnight rally in the US markets supported the local stocks and currency on Tuesday’s trade. The benchmark Philippine Stock Exchange index (PSEi) closed the day 25.20 points, higher than Monday’s finish, at 6,208.83, with the… Read More
BTr fully awards re-issued T-bonds
November 21, 2023, 6:15 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the re-issued 20-year Treasury bonds (T-bonds). With a remaining term of 15 years and two months, the re-issued bond fetched an average rate of 6.593 percent. The BTr raised the full program of PHP20 billion, bringing the total… Read More
DTI chief: PH gets new investment intent from US firms
November 21, 2023, 5:40 pm
MANILA – More American companies have expressed their intention to invest in the Philippines after the official visit of the high-level delegation of the Philippine government led by President Ferdinand R. Marcos Jr. to the United States, the country’s top trade official said Tuesday.… Read More
Prices of over 150 Noche Buena items rise
November 21, 2023, 5:30 pm
MANILA – The Noche Buena price guide will be released on Wednesday ahead of the holiday season, with a noticeable price increase in over 150 shelf keeping units (SKUs), Department of Trade and Industry-Consumer Protection Group (DTI-CPG) Assistant Secretary Amanda Marie Nograles said. In a press… Read More
BIR collection up 47% in Oct.
November 21, 2023, 2:59 pm
MANILA – The Bureau of Internal Revenue (BIR) said Tuesday that tax collections increased by 47 percent in October this year. In a statement, the BIR said it collected PHP274.43 billion (net of tax refund) last month, up by 47 percent compared to the PHP87.67 billion collected in the same month… Read More
Stakeholders urged to support passage of bill boosting bamboo sector
November 20, 2023, 9:09 pm
MANILA – The Philippine Bamboo Industry Development Council (PBIDC), an attached agency of the Department of Trade and Industry (DTI), is calling on stakeholders to show support for the immediate passage of Senate Bill (SB) 605, or an Act Institutionalizing the Philippine Bamboo Industry… Read More
PAL, KAL explore use of sustainable fuel in flight ops
November 20, 2023, 8:06 pm
MANILA – The Philippines and South Korea's flag carriers have been exploring the integration of sustainable aviation fuel (SAF) in their flight operations as this would lessen their carbon footprint. "We are exploring the use of SAF because it contains lower carbon emissions and reduces carbon… Read More
Shares down amid lack of positive catalysts, peso strengthens
November 20, 2023, 7:30 pm
MANILA – Local shares closed the trading weak while peso finished strong on Monday. After climbing the 6,200-mark last week, the Philippine Stock Exchange index (PSEi) fell to 6,183.63, shedding 28.26 points, with All Shares also down by 19.45 points to 3,305.32. “Amid a lack of a strong… Read More
PH farmers receive aid from Japan, Korea
November 20, 2023, 7:17 pm
MANILA – Sugarcane farmers in Bacolod City, Negros Occidental and an agricultural cooperative in Zaragosa, Nueva Ecija have received farming equipment and agribusiness facilities from East Asian countries. In separate statements Monday, the embassies of Japan and South Korea said their… Read More
PH foreign reserves back to $100-B level as of end-October
November 20, 2023, 6:57 pm
MANILA – The Philippines’ gross international reserves (GIR) at end-October 2023 returned to USD100-billion level after the country logged a surplus in its balance of payments (BOP) last month. The Bangko Sentral ng Pilipinas (BSP) reported Monday that the country’s foreign reserves… Read More
BTr upsizes maiden Tokenized Treasury Bonds offering
November 20, 2023, 6:14 pm
MANILA – The first Tokenized Treasury Bonds (TTBs) of the Bureau of the Treasury (BTr) on Monday was oversubscribed by more than three times, pushing the BTr to upsize the digital token debt offering. The BTr has increased the TTBs to PHP15 billion from its initial offer of PHP10 billion, as… Read More
