Business
E. Samar orders miners to settle unpaid taxes, enforce measures
November 8, 2023, 1:30 pm
MANILA – The Eastern Samar provincial government has given six mining companies in the province until the end of the year to fully implement environmental and social protection measures, and pay their taxes to continue operations, officials said on Tuesday. In a briefing in Quezon City, Eastern… Read More
USAID backs PH in boosting manufacturing workforce, cybersecurity
November 8, 2023, 1:23 pm
MANILA – Visiting United States Agency for International Development (USAID) assistant administrator of the Bureau for Asia Michael Schiffer has announced the agency’s broadening support to the Philippines, especially in upskilling its workforce for advance manufacturing and helping the… Read More
Value of agri output down in Q3
November 8, 2023, 12:41 pm
MANILA – The total value of agriculture and fisheries production declined in the third quarter of the year due to the reductions in crops and fisheries production, the Philippine Statistics Authority (PSA) said. In a report released on Wednesday, the PSA said the value of production in… Read More
Unemployment rate declines in Sept.
November 8, 2023, 12:00 pm
MANILA – The country's unemployment rate dropped to 4.5 percent in September this year from 5 percent in the same month last year, the Philippine Statistics Authority (PSA) reported on Wednesday. In a briefing, National Statistician Dennis Mapa said the number of unemployed Filipinos during the… Read More
BSP keen on keeping rates 'sufficiently tight' for now
November 8, 2023, 10:54 am
MANILA – The Bangko Sentral ng Pilipinas (BSP) considers keeping its key rates tight as appropriate as it sees continued elevated inflation rate in the coming months despite a deceleration in October. The slower annual rate of price increases, primarily of heavily weighted food and non-alcoholic… Read More
PSEi gains on lower inflation data, peso weakens
November 7, 2023, 8:31 pm
MANILA – The easing of inflation in October has improved investors’ sentiment on Tuesday, lifting the local index for four straight trading days, while the peso closed weaker. The Philippine Stock Exchange index (PSEi) gained 53.29 points, or 0.88 percent, to the 6,131.32 level, while the… Read More
BCDA seeks JV partner for P2.53-B ICT system in New Clark City
November 7, 2023, 8:29 pm
MANILA – The Bases Conversion and Development Authority (BCDA) has started the bidding process for the PHP2.53-billion information and communications technology (ICT) infrastructure in New Clark City. In a statement Tuesday, BCDA said interested parties can buy bidding documents starting Nov. 6… Read More
BTr fully awards reissued T-bond
November 7, 2023, 8:00 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the reissued seven-year Treasury bonds (T-bonds). With a remaining term of six years and eight months, the reissued bond fetched an average rate of 6.807 percent. The auction was two times oversubscribed with total tenders… Read More
GSIS buys PHP1.45-B preferred shares in RE firm Alternergy
November 7, 2023, 7:25 pm
MANILA – State-run pension fund Government Service Insurance System (GSIS) has subscribed to renewable energy (RE) firm Alternergy Holdings Corporation’s Perpetual Preferred Shares 2 Series A amounting to PHP1.45 billion under a private placement. GSIS and Alternergy made the announcement… Read More
P200-B investments set for PH largest solar farm project
November 7, 2023, 6:50 pm
MANILA – Meralco chairman Manuel V. Pangilinan said the 3,500 megawatts of direct current (MWdc) solar power farm project in Nueva Ecija of SP New Energy Corp. (SPNEC), over which a unit of Meralco will have the majority shares, will need PHP200 billion worth of investments. In Meralco’s press… Read More
Trade deficit down in September
November 7, 2023, 6:36 pm
MANILA – The country's trade deficit fell by 27 percent in September this year, the Philippine Statistics Authority (PSA) reported on Tuesday. In a report, the PSA said trade deficit during the month amounted to USD3.5 billion, down from the USD4.8 billion in the same month last year. It was… Read More
PH eyes $700-M sales in China’s buying expo
November 7, 2023, 6:36 pm
MANILA – The Philippines targets new record sales for its participation in this year’s China International Import Expo (CIIE) amounting to USD700 million, Department of Trade and Industry (DTI) Assistant Secretary Glenn Peñaranda said at a virtual briefing Tuesday. The country is nearing to… Read More
PH inflation eases to 4.9% in October
November 7, 2023, 10:38 am
MANILA – Headline inflation eased to 4.9 percent in October this year from 6.1 percent in September, the Philippine Statistics Authority (PSA) reported on Tuesday. Last month's headline inflation rate was also lower than the 7.7 percent recorded in October last year. Core inflation, which… Read More
Final chance to avail of SEC amnesty program extended to end of 2023
November 6, 2023, 8:56 pm
MANILA – The Securities and Exchange Commission (SEC) is giving non-compliant and suspended or revoked corporations a last chance to avail of lower fines and penalties with the final extension of amnesty applications until the end of 2023. In a statement Monday, the Commission said it issued on… Read More
Mining industry provides 5K jobs in Ilocos Region
November 6, 2023, 8:12 pm
MALASIQUI, Pangasinan - The Mines and Geosciences Bureau (MGB) recorded 4,963 jobs generated through the mining industry in Ilocos Region in 2022. In a virtual press conference on Monday, MGB Regional Office No. 1 Mine Management division chief Engr. Renato Rimando said the industry in the region… Read More
PSEi returns to 6,000-mark, peso back to 55-level
November 6, 2023, 7:36 pm
MANILA – Both the local stock market and currency closed the first day of trading this week stronger. The Philippine Stock Exchange index (PSEi) returned to the 6,000 level after a three-day rally, increasing by 88.76 points on Monday that lifted the bourse to 6,078.03. All Shares also improved… Read More
PH needs to reverse declining RE share in energy mix
November 6, 2023, 7:19 pm
MANILA – The downward trend in renewables’ share in the Philippines’ energy mix should be reversed as the ongoing geopolitical conflict across the globe will make the country exposed to volatile prices of coal and oil. Developers of Renewable Energy for Advancement, Inc. (DREAM) president… Read More
Oil price rollback set Nov. 7
November 6, 2023, 4:31 pm
MANILA – Oil companies have announced a decrease of up to PHP1.10 per liter in the pump prices of petroleum products effective Tuesday. In separate advisories Monday, Cleanfuel, Caltex, Jetti, Petro Gazz, PTT, Seaoil and Shell announced they will cut gasoline prices by PHP0.45 per liter and… Read More
Mixed results for T-bills
November 6, 2023, 4:28 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for the 91-day Treasury bills (T-bills) and partially awarded the 182- and 364-day securities. The 91-day T-bills fetched an average rate of 6.352 percent while the 182- and 364-day tenors were capped at 6.536 percent and… Read More
Another Turkish firm eyes to bid for NAIA rehab project
November 6, 2023, 3:14 pm
MANILA – Department of Transportation (DOTr) Secretary Jaime Bautista on Monday said the agency received additional interest from a Turkish company to bid for the rehabilitation of the Ninoy Aquino International Airport (NAIA). At a forum of the Economic Journalists Association of the… Read More
