Business
DTI targets PH startups to grow to $10-B industry by 2028
November 20, 2023, 4:28 pm
MANILA – With the enabling policy from the government and support from the private sector, Department of Trade and Industry (DTI) Undersecretary Rafaelita Aldaba projects that the Philippines’ startup ecosystem will grow to USD10 billion by 2028. On the sidelines of the PH Startup Week… Read More
Below P1 per liter oil price rollback set Nov. 21
November 20, 2023, 3:40 pm
MANILA – Oil companies announced minimal decrease on pump prices starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil and Shell said they will roll back gasoline prices by PHP0.75 per liter and diesel by PHP0.65 per liter. Caltex, Seaoil and Shell will… Read More
DTI explores AI power to transform Philippine economy
November 18, 2023, 6:15 pm
MANILA – President Ferdinand R. Marcos Jr. and Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with the Silicon Valley Technology companies and investors to discuss potential partnerships in harnessing artificial intelligence (AI) technology, particularly in upskilling… Read More
Leading digital wallet providers studying fee waiver on micropayments
November 17, 2023, 7:18 pm
MANILA – GCash and Maya are studying the impacts of waiving fees on micropayment on their balance sheet, a top official of the Bangko Sentral ng Pilipinas (BSP) said on Friday. The BSP earlier called for the removal of fees on small-value transactions to further promote the use of digital… Read More
PSEi, peso end week stronger as BSP keeps rates steady
November 17, 2023, 7:11 pm
MANILA – Both the local stock market and currency closed the week stronger a day after the Bangko Sentral ng Pilipinas (BSP) kept its policy rates steady. The Benchmark Philippine Stock Exchange index (PSEi) on Friday returned to the 6,200-mark, ending at 6,211.89, higher by 20.41 points, with… Read More
USAID helps 24 LGUs with energy capacity building
November 17, 2023, 4:45 pm
MANILA – Twenty-four local government units (LGUs) across the country are currently being assisted by the United States Agency for International Development (USAID) under the Energy Secure Philippines (ESP) program, which aims to help LGUs roll out policies and initiatives in the energy sector.… Read More
World Bank to help PH strengthen climate preparedness
November 17, 2023, 4:18 pm
MANILA – The World Bank said its Board of Executive Directors approved on Friday a new line of credit to help the Philippines strengthen climate preparedness in schools, health facilities, and communities. In a statement, the World Bank said the Philippines Disaster Risk Management and Climate… Read More
PH, US sign nuke deal for peaceful use
November 17, 2023, 11:59 am
MANILA – The Philippines and the United States signed Friday (Manila time) the civil nuclear cooperation deal, or the 123 Agreement, which will allow the transfer of US-origin nuclear technology to the Philippines. Department of Energy (DOE) Secretary Raphael Lotilla and US Secretary of State… Read More
Good fiscal management, firm fundamentals behind PH optimism
November 16, 2023, 8:25 pm
MANILA – Business leaders here said that the reaffirmation of the Philippines’ “BBB” rating by American credit rating agency Fitch, which effectively kept its “stable” outlook for the country, is a testament to the incumbent administration’s effective fiscal management coupled with… Read More
Stocks up on BSP's expected pause on policy rates
November 16, 2023, 7:36 pm
MANILA – The local stock market closed stronger on Thursday amid expectations that the Central Bank will keep interest rates steady. The Philippine Stock Exchange index (PSEi) went up by 20.35 points to close at 6,191.48, while the broader All Shares also went up by 6.77 points to 3,314.49. "The… Read More
PH to launch maiden peso-denominated Tokenized T-bonds
November 16, 2023, 6:57 pm
MANILA – The Bureau of the Treasury (BTr) said the national government (NG) aims to raise at least PHP10 billion from the domestic bond market through the issuance of the country’s maiden offering of Philippine peso-denominated Tokenized Treasury Bonds (TTBs). In a statement on Thursday, the… Read More
BSP maintains policy rates
November 16, 2023, 6:44 pm
MANILA – The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) on Thursday kept policy rates unchanged as inflation outlook moderated. BSP Governor Eli Remolona Jr., in a statement read by Deputy Governor Francisco Dakila in a briefing, said the target reverse repurchase (RRP) rate was… Read More
German-PH firms see more local employment
November 16, 2023, 4:30 pm
MANILA – German-Philippine firms expressed satisfactory local business prospects but evaluated a higher local employment demand, results of a survey by the German–Philippine Chamber of Commerce and Industry (GPCCI – AHK Philippinen) showed. Results of the Fall 2023 AHK World Business Outlook… Read More
PH an economic bright spot in ASEAN-US biz council head
November 16, 2023, 3:49 pm
MANILA – The Philippines continues to be an economic bright spot in the region, the head of the United States (US)-Association of Southeast Asian Nations (ASEAN) Business Council said on Thursday, noting that US businesses expressed strong interest to invest in the country. "The Philippines is a… Read More
Remittances growth lifts local index, peso
November 15, 2023, 11:25 pm
MANILA – Both local currency and stock market closed strong after the central bank’s reporting of personal remittances on Wednesday. The peso logged its new best performance in three months since Aug. 4, capping the day at 55.86 to the US dollar from a 56.06 finish the previous day. The… Read More
9-month remittances grow 2.8% to $27.74-B
November 15, 2023, 8:39 pm
MANILA – Personal remittances from Filipinos abroad have remained among the top dollar earners for the country as they brought home USD27.74 billion in remittances for the first nine months of the year, the Bangko Sentral ng Pilipinas (BSP) reported Wednesday. Overseas Filipinos’ remittances… Read More
P1.1-B fuel subsidy released to 190K drivers
November 15, 2023, 8:05 pm
MANILA – The Land Bank of the Philippines said on Wednesday that it has disbursed a total of PHP1.1 billion in fuel subsidy to 190,130 public utility vehicle (PUV) drivers as of Nov. 9. The beneficiaries include those driving public utility jeepneys (PUJs) and buses, taxis, and transportation… Read More
Signing of PH-US civil nuke cooperation deal seen on APEC sidelines
November 15, 2023, 7:28 pm
MANILA – The signing of the 123 Agreement, or the civil nuclear cooperation deal, is part of the agenda of President Ferdinand R. Marcos Jr. during his official trip to the United States for the Asia Pacific Economic Cooperation (APEC) Leaders’ Meeting. Department of Trade and Industry (DTI)… Read More
6th China int'l import expo opens Chinese market to Pinoy exporters
November 15, 2023, 7:05 pm
MANILA – A group of Filipino entrepreneurs has expressed optimism about local food products thriving in the Chinese market. This was after the group attended the 6th China International Import Expo (CIIE) at the National Exhibition and Convention Center in Shanghai, China on Nov. 5-10. In an… Read More
Maharlika fund chief lists 4 investment pillars
November 15, 2023, 6:38 pm
MANILA – Newly-appointed Maharlika Investment Corp. (MIC) president and chief executive officer Rafael Jose Consing Jr. has identified four priority areas where the sovereign fund will be poured into. Consing said the four investment pillars include tourism infrastructure, building agricultural… Read More
