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
MANILA – The Bureau of Internal Revenue (BIR) confiscated 227,351 packs of illicit cigarettes in Brooke's Point, Palawan.In a statement on Wednesday, the BIR said the illicit cigarettes, worth PHP150.6 million in tax liability, were seized from seven makeshift warehouses during a raid on May... Read More
LEGAZPI CITY – The Department of Trade and Industry (DTI) in Bicol is targeting to generate around PHP10 million in sales as 50 micro, small and medium enterprises (MSMEs) join the Orgullo kan Bikol (OKB) Trade Fair at Shangri-La Plaza mall in Mandaluyong City from May 16-19.On Wednesday,... Read More
MANILA – The Philippines and Qatar are expected to finalize the ratification process of the two countries' Investment Promotion and Protection Agreement (IPPA) within the year, the Department of Trade and Industry (DTI) said.In a statement, the DTI said the agreement was made during Trade... Read More
MANILA – Both the local stock barometer and currency closed nearly flat on Tuesday's trading.The Philippine Stock Exchange index (PSEi) slightly improved by 0.06 percent, or 4.11 points, ending at 6,608.36, while the broader all shares increased by 4.15 points to 3,511.91.Philstocks Financial,... Read More
MANILA – The Bureau of the Treasury (BTr) on Tuesday partially awarded reissued Treasury bonds (T-bonds) at a higher yield.The BTr offered PHP30-billion T-bonds with a remaining term of 14 years and eight months but only accepted PHP11.5 billion of the total bids.Total tenders amounted to... Read More
MANILA – The Department of Energy (DOE) assured lawmakers that there are more power plants coming online that would prevent a repeat of recent yellow and red alerts raised due to tight power supply.In a hearing of the Committee on Energy at the House of Representatives Tuesday, DOE... Read More
MANILA – The tight power supply in the Luzon grid during the yellow and red alerts in April has pushed electricity rates up in franchise areas of Manila Electric Company (Meralco).Meralco announced Tuesday that power rates in May increased by PHP0.4621 per kilowatt hour to PHP11.4139 per kWh... Read More
MANILA – The Clark International Airport Corp. (CIAC) aims to learn from the expertise of the Netherlands in constructing the Clark National Food Hub.In a statement Monday, the CIAC said its president and chief executive officer Arrey Perez joined the Philippine delegation to Amsterdam last... Read More
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