Business
Chinese firms affirm optimism in PH market
October 18, 2023, 6:56 pm
MANILA – Companies based in Jiangsu Province in China affirmed their optimism in the Philippine market, noting that the country is an “ideal investment destination of choice,” the Board of Investment (BOI) said Wednesday. In a statement, the BOI said its official met with executives of… Read More
BSP, CDA sign deal to supervise cooperatives
October 18, 2023, 6:21 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) and the Cooperative Development Authority (CDA) signed on Wednesday a memorandum of agreement (MOA) to further strengthen their cooperation in supervising cooperatives. The MOA on “Cooperative Oversight Arrangement” outlines the concurrent… Read More
PH, World Bank discuss sustainable dev’t projects
October 18, 2023, 6:20 pm
MANILA – Finance Secretary Benjamin Diokno said he recently met with top officials of the World Bank (WB) to discuss the Philippines’ sustainable development projects in the pipeline. In a statement on Wednesday, the Department of Finance (DOF) said the meeting was held in Marrakech, Morocco… Read More
103 Bicol MSMEs to showcase top products at Manila fair
October 18, 2023, 4:36 pm
LEGAZPI CITY – A total of 103 micro, small and medium enterprises (MSMEs) in the Bicol region are set to join the mainstream market by featuring handicrafts and various delicacies at the Orgullo kan Bikol (OKB) Trade and Travel Fair at Shangri-La Plaza mall in Mandaluyong City from Oct. 19-22.… Read More
IMF urges BSP to keep rates steady unless upside risks materialize
October 18, 2023, 3:41 pm
MANILA – The International Monetary Fund (IMF) said Wednesday the Bangko Sentral ng Pilipinas (BSP) should maintain policy rates for now but should raise rates if upside risks materialize. In a briefing for the launch of the IMF's Regional Economic Outlook for Asia and Pacific, division chief of… Read More
Stronger BPO sector presence seen in Calabarzon
October 17, 2023, 9:12 pm
MALVAR, Batangas – The country’s business process outsourcing (BPO) sector is looking to strengthen its presence in the Calabarzon region, lured by the abundance of talent and generous government incentives. In an interview on Tuesday, Celeste Ilagan, IT and Business Process Association of the… Read More
Improved market sentiment lifts PH equities, peso on sideways
October 17, 2023, 6:02 pm
MANILA – The local bourse returned to the 6,200-mark, buoyed by better market sentiment while the peso slightly gained on Tuesday’s trading. “The PSEi (Philippine Stock Exchange index) gained today by 82.07 points, or 1.3 percent to close at 6,280.90, near two-week highs and also among 1.5… Read More
Vax manufacturer, irradiation facility pitch project to NDC
October 17, 2023, 5:45 pm
MANILA – The National Development Co. (NDC) said a new vaccine manufacturer and a gamma irradiation facility pitched their project proposals for possible investments. NDC General Manager Anton Mauricio told the Philippine News Agency (PNA) on the sidelines of an event in Parañaque City Monday… Read More
Norway eyes training Filipinos to build up offshore wind workforce
October 17, 2023, 5:22 pm
MANILA – The Royal Norwegian Embassy in Manila is in discussion with stakeholders in Norway and the Philippines to help the latter prepare its workforce for offshore wind energy developments. Norwegian Ambassador to the Philippines Christopher Lyster told the Philippine News Agency (PNA) that… Read More
BTr fully awards reissued 7-yr T-bonds
October 17, 2023, 5:21 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 nine months, the reissued bond fetched an average rate of 6.675 percent. The auction attracted PHP46.1 billion in total tenders, 1.5 times… Read More
BIR steps up measures vs. illicit tobacco trade
October 17, 2023, 5:19 pm
MANILA – Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui said on Tuesday the bureau will ramp up measures to combat illicit tobacco trade to prevent further damage to the national economy and revenue collections. "In a recent study, the University of Asia and the Pacific (UAP) and… Read More
Bakers' group seeks funding, training assistance amid 'brain drain'
October 16, 2023, 8:48 pm
MANILA – Leaders of the community bakery industry have appealed for more government assistance given the country’s dwindling number of professional bakers. In an interview on Monday, Lucito Chavez, president of the Asosasyon ng Panaderong Pilipino (APP), said their sector is currently… Read More
PSEi tracks Asian markets, peso ends sideways
October 16, 2023, 8:43 pm
MANILA – The Philippine Stock Exchange index (PSEi) on Monday tracked major Asian markets, closing the day in the red territory, while the peso moved sideways. PSEi finished the day dropping below the 6,200-mark by 67.51 points to 6,198.83 level, with All Shares down by 24.67 points to 3,359.90.… Read More
DTI eyes stronger trade, investment ties with Middle East
October 16, 2023, 7:16 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual will be part of the delegation of President Ferdinand R. Marcos Jr. to Saudi Arabia this week to boost trade ties with Middle East countries. Pascual, at the launching of DTI halal initiatives in Parañaque City, said… Read More
Gasoline prices up; diesel, kerosene down on Oct.17
October 16, 2023, 6:10 pm
MANILA - Oil firms will implement price adjustments on fuel products by less than PHP1 per liter starting 12:01 a.m. of Oct.17. In separate advisories on Monday, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix Petroleum, PTT, Seaoil, Shell, and Unioil said they will increase gasoline prices by… Read More
DTI facilitates MSMEs' access to halal certification, financing
October 16, 2023, 5:44 pm
MANILA – The Department of Trade and Industry (DTI) wants micro, small and medium enterprises (MSMEs) to tap the huge halal industry by facilitating access to halal certification and Islamic financing. At the launching of the Halal Economy Festival and Investment Philippines Week in Parañaque… Read More
Mixed results mark T-bills auction
October 16, 2023, 5:28 pm
MANILA – Results were mixed on Monday’s Treasury bill (T-bill) auction as the Bureau of the Treasury (BTr) decided to fully award bids for the 364-day securities, while partially awarding the 91- and 182-day T-bills. The 364-day securities fetched an average rate of 6.388 percent, up from last… Read More
390K perfume bottles seized from 400 firms with P604M in tax liability
October 16, 2023, 12:04 pm
MANILA - The Bureau of Internal Revenue (BIR) on Monday said it has seized more than 390,000 bottles of perfume during the nationwide perfume and toilet water enforcement operations from over 400 establishments with an assessed PHP604.3 million in tax liabilities. In a statement, BIR said the… Read More
LandBank remains strong, adequately capitalized
October 15, 2023, 12:48 pm
MANILA – State-owned Land Bank of the Philippines (LandBank) on Sunday said it remains adequately capitalized even with the bank’s PHP50 billion seed capital to the Maharlika Investment Corporation (MIC). In a statement, the bank said it remains strong, adequately capitalized, and compliant… Read More
ICC hopeful conflict in Israel won't derail trade with PH
October 14, 2023, 6:14 pm
MANILA – The International Chamber of Commerce’s (ICC) leadership here is hoping that the bilateral trade between the Philippines and Israel will not be severely interrupted by the crisis around Gaza, although a temporary slowdown in the exchange of goods is expected. In an interview on… Read More
