Business
Poultry growers bat for infra investments to raise production
October 6, 2023, 10:37 am
MANILA – Local poultry growers welcomed the Marcos administration’s vision to significantly raise meat production within the next five years, but also urged the government to immediately invest in agriculture infrastructure to support the targeted production expansion. This came after the… Read More
Economist unfazed by Sept. inflation tick, calls for remedies
October 5, 2023, 8:12 pm
MANILA – An economist in the academe said the country’s 6.1 percent inflation figure in September should not elicit overreaction but rather should serve as an impetus for policymakers to search for ways to counter inflationary forces. In an interview, Carlos Manapat, chairman of the economics… Read More
Market down on higher inflation data; peso moves sideways Thursday
October 5, 2023, 5:36 pm
MANILA – The stock market ended the day in negative territory after the release of the September headline inflation data, while the peso moved sideways on Thursday. The Philippine Stock Exchange (PSEi) lost 119.60 points to close at 6,178.60, while the broader All Shares also dropped 49.81… Read More
BSP: Within-target inflation by end-23 still possible despite upticks
October 5, 2023, 5:04 pm
MANILA – Monetary authorities remain optimistic of within-target inflation rate by the end of 2023 despite the second consecutive month of uptick in the rate of price increases last September due to higher food and oil prices. The Philippine Statistics Authority (PSA) on Thursday reported that… Read More
Insular Life sees continued growth in new business
October 5, 2023, 4:16 pm
MANILA – Filipino-owned life insurer Insular Life (InLife) said it expects a continued growth in new business despite the still-elevated headline inflation this year. In a media roundtable in Makati City on Thursday, InLife president and CEO Raoul Antonio Littaua said their New Business… Read More
Headline inflation hits 6.1% in September
October 5, 2023, 12:39 pm
MANILA – Headline inflation settled at 6.1 percent in September this year, higher than the 5.3 percent recorded in August, Philippine Statistics Authority (PSA) Undersecretary and National Statistician Dennis Mapa said on Thursday. In a briefing, Mapa said inflation in September last year was at… Read More
Food producers to collaborate with DA in raising livestock production
October 4, 2023, 9:32 pm
MANILA – Local food producers see the Department of Agriculture’s (DA) lofty goal of increasing livestock production five-fold in five years as an opportunity for growth and prosperity. In an interview on Wednesday, Danilo Fausto, president of the Philippine Chamber of Agriculture and Food… Read More
DTI to implement price rounding scheme on SRP
October 4, 2023, 9:27 pm
MANILA – The Department of Trade and Industry (DTI) will implement a price rounding scheme on the Suggested Retail Price (SRP) of basic goods to support Bangko Sentral ng Pilipinas’ (BSP) move to lessen the circulation of low-denomination coins. Trade and Industry Secretary Alfredo Pascual, in… Read More
BOI endorses P50-B telco tower project for faster permitting
October 4, 2023, 8:05 pm
MANILA – The Board of Investments (BOI) is endorsing the PHP50 billion Common Passive Telecommunications Tower Infrastructure Project of EdgePoint Tower, Inc. for green lane treatment in the processing of permits and licenses needed for the project. In a statement Wednesday, BOI said its… Read More
Market down, peso sideways on Wednesday
October 4, 2023, 7:26 pm
MANILA – The local equities market index fell ahead of the release of the September 2023 inflation data on Thursday while the peso moved sideways on Wednesday. The Philippine Stock Exchange index (PSEi) shed 7.79 points to close at 6,298.20 and was followed by All Shares after it declined by… Read More
AMRO bullish on PH growth prospects
October 4, 2023, 6:54 pm
MANILA – The ASEAN+3 Macroeconomic Research Office (AMRO) remains bullish on the Philippines' economic growth prospects despite a projected growth slowdown to 5.9 percent this 2023. "For the Philippines, I think the second quarter is weaker than we had expected. But we are still quite bullish on… Read More
Cash aid, monitoring to continue despite lifting of rice price cap
October 4, 2023, 5:54 pm
MANILA – Financial aid distribution to rice retailers and monitoring of rice prices will continue despite President Ferdinand R. Marcos Jr.’s announcement Wednesday about the lifting of the price cap on regular and well-milled rice. Trade and Industry Secretary Alfredo Pascual, in a press… Read More
PSEi, peso close sideways Tuesday
October 3, 2023, 6:30 pm
MANILA – Both local equities and currency moved sideways on Tuesday trading. The benchmark Philippine Stock Exchange index (PSEi) slightly improved by 0.02 percent, or 1.46 points, closing at 6,305.99 level, and the broader all shares increased by 6.50 points to 3,405.62. Philstocks Financial,… Read More
Chinese industrial bearing producer investing $150M in PH
October 3, 2023, 6:27 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga said C&U, a Chinese manufacturer of industrial bearing, is investing USD150 million (PHP8.5 billion) in the country. This was committed to the PEZA chief during the investment mission of the agency to Beijing from… Read More
9 ports up for redevelopment to cater to offshore wind projects
October 3, 2023, 6:25 pm
MANILA – The Department of Energy (DOE) and the Asian Development Bank (ADB) have initially identified nine ports in the country that can undergo redevelopment to cater to the requirements of offshore wind projects. DOE Assistant Secretary Mylene Capongcol said on Tuesday that through a grant,… Read More
US broiler breeder eyes PH operation
October 3, 2023, 2:35 pm
MANILA – Alabama-based broiler breeder Aviagen, Inc. is exploring to establish its operations in the Philippines, its Asia Pacific business manager Rafael Monleon said. At a press conference of the United States Embassy in Taguig City Monday evening, Monleon said the company is looking into… Read More
PH receives $32.4-B loans, grants in 2022
October 3, 2023, 2:32 pm
MANILA – The Philippines received more than USD32 billion in official development assistance (ODA) loans and grants last year, the National Economic and Development Authority (NEDA) data showed on Tuesday. In its 2022 ODA Portfolio Review report, the NEDA said the country's active ODA portfolio… Read More
EO 41 timely policy to tame prices before holiday season -- DTI chief
October 2, 2023, 7:47 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said on Monday Executive Order (EO) No. 41 that prohibits the collection of pass-through fees by local government units (LGUs) is a timely policy for the upcoming Christmas season. Although EO 41 is not only for the… Read More
Stock market down on profit-taking, peso weakens
October 2, 2023, 7:26 pm
MANILA – Profit-taking pulled the market down on Monday while the peso depreciated against the United States dollar. The Philippine Stock Exchange index (PSEi) declined by 16.71 points to close at 6,304.53 while the broader All Shares shed 1.71 points to 3,399.12. Philstocks Financial assistant… Read More
DTI: Investors’ confidence remains solid in PH
October 2, 2023, 7:21 pm
MANILA – Despite the decline in foreign direct investments (FDIs) inflows, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said on Monday that investors' confidence in the country continues to remain solid. Pascual made the statement following the reported 20-percent FDI decline… Read More
