BAGUIO CITY – The government targets to award five public-private partnership (PPP) projects worth PHP50.57 billion by the end of 2024 and three more by next year, as the new law and its implementing rules and regulations (IRR) have helped fast-track the approval process and implementation of... Read More
BAGUIO CITY – The Public-Private Partnership (PPP) Center currently has 125 projects worth PHP3 trillion in the pipeline, an official said over the weekend.Of the 125 PPP projects, the PHP23.40 billion Tarlac-Pangasinan-La Union Expressway (TPLEX) extension project is in the most advanced... Read More
SEOUL – South Korea's exports of instant noodles surpassed the USD100 million mark for the first time last month due to the growing popularity of Korean culture and food, data showed Sunday.Exports of instant noodles, or "ramyeon" in Korean, reached USD108.6 million in April, up by 46.8... Read More
BAGUIO CITY – Artificial intelligence (AI) has been helping the Bangko Sentral ng Pilipinas (BSP) for around six years already and will continue as the central bank bids to further enhance its data-gathering capacity.BSP-Department of Economic Statistics senior director Redentor Paolo Alegre... Read More
MANILA – Philippine shares ended the week in the red due to last-minute profit taking, while the peso depreciated on Friday.The Philippine Stocks Exchange index (PSEi) declined by 9.51 points, closing at 6,618.69, while the broader All Shares also slightly declined by 0.37 points to... Read More
MANILA – The Bangko Sentral ng Pilipinas (BSP) wants to reduce banks' reserve requirement ratio (RRR) rate to 5 percent from the current 9.5 percent.In a televised interview on Friday, Governor Eli Remolona Jr. said the BSP will likely cut policy rates first before putting on the table the cut... Read More
MANILA – A leading milk, dairy, and juice producer in Qatar is planning to establish a large-scale, fully integrated dairy facility in the Philippines, the Department of Trade and Industry (DTI) said.In a statement on Friday, DTI said Trade Secretary Alfredo Pascual met with officials of... Read More
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual urged Qatar Cool (QC), the largest district cooling system (DCS) provider in Qatar, to invest in the Philippines.In a statement on Friday, the trade department said Pascual met with QC Chief Executive Officer Yasser Al... Read More
MANILA – The Philippines is set to benefit from the Green Climate Fund's (GCF) USD10 million new program grant to enhance the government's readiness to address climate hazards.In a statement late Thursday, the Department of Finance (DOF) said the GCF is an international fund under the global... Read More
MANILA – Finance Secretary Ralph Recto said the interest of the Bases Conversion and Development Authority (BCDA) in the Subic-Clark-Tarlac Expressway (SCTEX) could also be sold to the Social Security System (SSS) and the Government Service Insurance System (GSIS)."We're looking at selling... Read More
MANILA – The Philippine Stock Exchange index (PSEi) rose following the improvements in Wall Street and while waiting for the policy stance of the Monetary Board, even as the peso closed sideways during Thursday’s trading.The PSEi finished the day gaining 1.06 percent and closing at... Read More
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual highlighted the policies of the Marcos administration to continue the Philippines’ robust economic growth at the Qatar Economic Forum in Doha.Pascual joined Minister of Industry and Trade of the Kingdom of Morocco... Read More
MANILA – The Bangko Sentral ng Pilipinas (BSP) will likely ease policy rates starting August this year."We are actually somewhat less hawkish than before, which means we could ease or cut rates Q3 (third quarter) or Q4 (fourth quarter) this year, so the second half of this year," BSP Governor... Read More
MANILA – The Aurora Pacific Economic Zone and Freeport Authority (APECO) has signed a USD25-million investment agreement with a Singapore-based renewable energy (RE) company, promoting green developing in investment promotion agencies.APECO and Pacific Impact Development Pte. Ltd. sealed the... Read More
MALVAR, Batangas –A privately-funded economic zone in this province that was initially billed as a burgeoning hub for business process outsourcing (BPO) operations is now also poised to play an important role in large-scale food processing.The management of Aboitiz Construction, Inc. (ACI)... Read More
MANILA – Total approved foreign investment (FI) pledges amounted to PHP148.43 billion in the first quarter of the year, the Philippine Statistics Authority (PSA) said.In a report released on Thursday, the PSA said these investments were pledges from Investment Promotion Agencies (IPAs) which... Read More
CAPAS, Tarlac – StB GigaFactory, Inc., a battery manufacturer funded by an Australian investment company, is ramping up its investment in the Philippines by more than threefold, its chief executive officer Dennis Chan Ibarra said.Ibarra saidin an interview during the One Clark Forum Friday... Read More
MANILA – The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand R. Marcos Jr., recently approved the tariff rate modification of electric vehicles.In a statement on Thursday, the NEDA said the Board, during a meeting on May 15, approved the recommendations... Read More
MANILA – Local shares declined on Wednesday ahead of the Bangko Sentral ng Pilipinas' (BSP) Monetary Board meeting, while the peso closed slightly higher against the dollar.The Philippine Stock Exchange index (PSEi) shed 49.73 points to close at 6,558.63, while All Shares also went down by... Read More
MANILA – Personal remittances of overseas Filipinos (OFs) went up by 2.6 percent in March this year, the Bangko Sentral ng Pilipinas (BSP) said.Data released by the BSP on Wednesday showed that personal remittances from OFs climbed to USD3.05 billion from USD2.97 billion in March last... Read More
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