Business
Ilocos Region’s inflation rate eases at 3.7% in October
November 10, 2023, 1:21 pm
MALASIQUI, Pangasinan – The rate of price increases in the Ilocos Region decelerated in October to 3.7 percent from month-ago’s 5.1 percent, tracking the national headline inflation rate, due mainly to slower upticks in food prices. Philippine Statistics Authority Ilocos Region chief… Read More
Ireland brings 1st high-level trade mission in PH
November 10, 2023, 12:46 pm
MANILA – Ireland has brought its first high-level trade mission to the Philippines as it considers the Philippines an important market in Southeast Asia. The two-day Irish trade mission here, through the Bord Bia (Irish Food Board), aims to boost Ireland’s food exports, especially dairy and… Read More
Better-than-expected GDP lifts PSEi, peso strong
November 10, 2023, 8:47 am
MANILA – The better-than-expected expansion of the Philippine economy in the third quarter of 2023 pushed the local stock market to test the 6,200 mark within the trading day while the peso closed stronger, finishing at the 55-level for the second time this week. The Philippine Stock Exchange… Read More
Bicol inflation rate decelerates to 4.7% percent in October
November 9, 2023, 8:42 pm
LEGAZPI CITY – The Philippine Statistics Authority (PSA) in Bicol reported on Thursday the inflation rate in the region eased from 5.6 percent in September to 4.7 percent in October this year. Based on the summary inflation report, the October 2023 inflation in the region was lower than the 7.2… Read More
PCCI: PH could hit 6% full-year GDP growth in 2023
November 9, 2023, 7:19 pm
MANILA – Philippine Chamber of Commerce and Industry (PCCI) president George Barcelon has a rosy outlook for the Philippine economy for the full year of 2023, as he is optimistic that the gross domestic product (GDP) growth could reach 6 percent. Barcelon made the statement following the third… Read More
PH debt-to-GDP improves in Q3
November 9, 2023, 6:40 pm
MANILA – The share of the country's total liabilities to gross domestic product (GDP) improved in the third quarter of the year. In a statement on Thursday, the Bureau of the Treasury (BTr) said with the 5.9 percent GDP expansion in the third quarter, the debt-to-GDP ratio improved to 60.2… Read More
PH manufacturing growth up in September
November 9, 2023, 5:58 pm
MANILA – The country's manufacturing sector grew at a faster pace in September, the Philippine Statistics Authority (PSA) said Thursday. Results of the latest Monthly Integrated Survey of Industries (MISSI) showed that the Value of Production Index (VaPI) expanded by 8.9 percent, up from the 7.5… Read More
BMI revises upward PH GDP's 2023 outlook
November 9, 2023, 5:57 pm
MANILA – Fitch Solutions unit BMI has raised its growth forecast for the Philippine economy for the full year of 2023 following the strong gross domestic product (GDP) growth result in the third quarter of the year. From a projection of 5.3 percent, BMI revised its GDP 2023 growth outlook for… Read More
PH joins framework to uphold tax fairness, promote int’l cooperation
November 9, 2023, 5:57 pm
MANILA – The Department of Finance (DOF) said the Philippines became a member of the Organisation for Economic Cooperation and Development (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) Inclusive Framework on Nov. 8, 2023. In a statement on Thursday, the DOF said the… Read More
Meralco power rate hits P12/kWh in November
November 9, 2023, 1:22 pm
MANILA – The Manila Electric Company (Meralco) said on Thursday the electricity rate in November has further increased, now reaching PHP12.0545 per kilowatt hour (kWh), due to higher transmission charge. The distribution utility firm said power rate this month is higher by PHP0.2347 per kWh from… Read More
PH economy grows by 5.9% in Q3
November 9, 2023, 10:18 am Updated on November 9, 2023, 2:26 pm
MANILA – The Philippine economy grew by 5.9 percent in the third quarter of the year, the highest recorded so far among the major emerging economies in Asia that released their growth data during the period. In a press briefing on Thursday, National Statistician Dennis Mapa said the gross… Read More
PAL, GCash to offer exclusive ‘seat sales’, boost PH tourism
November 8, 2023, 10:44 pm
MANILA – The Philippine Airlines (PAL) and digital banking app GCash on Wednesday announced a partnership to offer its customers “seat sales” and different promos every weekend beginning Nov. 18, aimed at boosting local tourism as well as in some Asian destinations. In a statement, GCash… Read More
Lower October inflation 'not surprising' -- economist
November 8, 2023, 9:01 pm
MANILA – The decline in the country’s inflation numbers in October did not come as a surprise because of the series of modest oil price rollbacks, coupled with less price pressures on heavily-weighted food items, an economist in the academe said. The Bangko Sentral ng Pilipinas (BSP) reported… Read More
Hatchery project aims to raise bangus fry production in Pangasinan
November 8, 2023, 8:35 pm
LINGAYEN, Pangasinan – The Pangasinan provincial government targets to produce over 100 million bangus (milkfish) fry and 48 million bangus larvae annually with the construction of a breeding and hatchery to provide the need of local producers. Pangasinan Governor Ramon Guico III, in an… Read More
PSEi up for 5th straight day on better jobs data, peso ends sideways
November 8, 2023, 7:11 pm
MANILA – The local bourse continued to rally for the fifth consecutive days following the lower unemployment data, while the peso slightly gained but still closed sideways during mid-week’s trading. The benchmark Philippine Stock Exchange index (PSEi) finished Wednesday 23.71 points higher to… Read More
TDF registers low demand, rates increase
November 8, 2023, 6:58 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) hiked on Wednesday the offering for the term deposit facility (TDF) but this was met with low demand and higher rates. The BSP increased the offer volume for the one-week facility to PHP230 billion from PHP190 billion during the auction last Nov.… Read More
PH monthly electronics exports grow 4.6% in September
November 8, 2023, 5:39 pm
MANILA – The country’s export revenues of electronic goods in September grew 4.6 percent month-on-month, data from the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) showed. SEIPI president Dan Lachica said the industry’s exports in September 2023… Read More
P10.31-B rolling mills project gets ‘green lane’ treatment
November 8, 2023, 4:18 pm
MANILA – The PHP10.31-billion rolling mills manufacturing project of Real Steel Corp. (RSC) has been endorsed by the Board of Investments’ (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI) for green lane treatment in national government agencies (NGAs) and local government… Read More
DOF steps up anti-graft drive
November 8, 2023, 4:13 pm
MANILA – The Department of Finance (DOF) said Wednesday its Revenue Integrity Protection Service (RIPS) has stepped up its anti-graft drive. In a statement, the DOF said from July 2022 to Sept. 30, RIPS has initiated a total of 58 investigations against suspected erring officials and employees… Read More
PSA keeps Q2 economic growth at 4.3%
November 8, 2023, 2:25 pm
MANILA – The Philippine Statistics Authority (PSA) on Wednesday maintained the second quarter Philippine economic growth at 4.3 percent. "The Gross Domestic Product for the preliminary second quarter 2023 was maintained at 4.3 percent, as of November 2023," the PSA said in a report. The PSA,… Read More
