Posts by gia:

Shares up on dovish BSP bets as inflation slows

PHILIPPINE STOCKS rose on Wednesday as the market continued to digest data showing that inflation eased further in May, which could lead to an extended pause in the central bank’s tightening cycle. The Philippine Stock Exchange index (PSEi) climbed by 84.77 points or 1.3% to 6,564.70 on Wednesday, while the broader all shares index went […]

Peso rises further on easing oil prices

THE PESO extended its rise against the dollar on Wednesday on easing global crude prices and as the World Bank hiked its economic growth forecast for the Philippines. The local currency closed at P56.098 versus the dollar on Wednesday, rising by 12.20 centavos from Tuesday’s P56.22 finish, data from the Bankers Association of the Philippines’ […]

NAIA privatization ‘doable’ by early 2024

THE privatization of the Ninoy Aquino International Airport (NAIA) could kick off in the first quarter of 2024, the Department of Transportation (DoTr) said. “That is a very tough and tight schedule. We can say that is doable in the first quarter of next year. It is doable that there will be a conclusion that […]

PHL metal output up 22.83% by value in Q1

PHILIPPINE metal production by value rose 22.83% in the first quarter on stronger prices and higher output of gold, nickel ore, and chromite, according to the Mines and Geosciences Bureau (MGB). In a report, the MGB said the value of production was P58.92 billion, of which gold accounted for P27.74 billion or 47.08%. Nickel ore […]

Philippines receives second-most climate financing in ASEAN at $1.6B per year, behind only Indonesia

THE PHILIPPINES is the number two recipient of climate financing in Southeast Asia, after Indonesia, the Lowy Institute said in a report. “Climate development finance disbursements to the Philippines average $1.6 billion per year, making it the second-largest destination of such finance in the region, behind Indonesia,” it said. “The Philippines is highly vulnerable to […]

Marcos sees streamlining of gov’t processes improving climate for private-sector ‘partners’

PRESIDENT Ferdinand R. Marcos, Jr. said on Wednesday that the streamlining of government processes, including permit issuance and tax administration, will make the investment environment more attractive for private-sector partners. In a speech before a gathering of the Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII), Mr. Marcos added that public-private partnerships will […]

RCEP, IPEF expected to strengthen PHL-Japan bilateral relationship

THE Department of Trade and Industry (DTI) said two trade deals are expected to strengthen the Philippines-Japan economic relationship. The DTI said in a statement on Wednesday that the Regional Comprehensive Economic Partnership (RCEP) and the Indo-Pacific Economic Framework (IPEF) are already producing agreements to deepen ties between the two countries. Trade Secretary Alfredo E. […]

Poultry industry calls for urgent gov’t action on bird flu vaccines

THE GOVERNMENT needs to act urgently in acquiring vaccines to contain the spread of avian influenza (AI) or bird flu, poultry industry officials said. On the sidelines of a poultry industry event, Elias Jose M. Inciong, president of the United Broiler Raisers Association, said the government must match measures taken by other countries. “The (Department […]

PHL envoys encouraged to develop trade, defense ties with ‘non-traditional’ partners

PRESIDENT Ferdinand R. Marcos, Jr. has directed his diplomats to work towards expanding trade  and security relationships with the Philippines’ non-traditional partners. Seeking fresh markets and defense ties will help the Philippines minimize the impact of global disruptions, Mr. Marcos said at a meeting with recently appointed Filipino chiefs of mission and ambassadors in Malacañang. […]

‘Directly and exclusively used’

The CREATE Law (Republic Act No. 11534) which took effect in 2021 introduced tax reforms which are thought to benefit the government and the country in the long run. The law rationalized tax incentives granted to enterprises registered with Investment Promotion Agencies (IPAs) while also amending the powers vested upon such agencies. Primarily, the law […]

Visa-free travel to Canada open to some Pinoys

PHILIPPINE CITIZENS who have owned Canadian visas in the past 10 years or who currently have valid United States nonimmigrant visas may now travel to Canada visa-free, the Canadian government announced on Tuesday. Canadian Minister of Immigration, Refugees and Citizenship Sean Fraser made the announcement in a livestreamed news briefing, saying it would make air […]

Court denies top Duterte critic’s bail plea in drug case

By John Victor D. Ordoñez, Reporter A TRIAL COURT has rejected the bail plea of detained former Senator Leila M. de Lima, one of former President Rodrigo R. Duterte’s fiercest critics, who has been in jail since 2017 on drug trafficking charges. In a 35-page decision sent to reporters on Wednesday, Muntinlupa Regional Trial Court […]

Bill seeks creation of Center for West Philippine Sea Studies 

A BILL proposing to create a think tank under the Department of Foreign Affairs (DFA) that will focus on how the Philippines can better defend and support its territorial claims in the South China Sea has been filed at the House of Representatives.   “The Philippines’ relations with China is starting to plunge with both sides […]

Valenzuela City records highest jobless rate in 2022 at 9.3% 

VALENZUELA CITY recorded the highest unemployment rate last year at 9.3%, almost double the national average of 5.4%, the Philippine Statistics Authority reported on Wednesday.   However, this was a bit slower than the city’s jobless rate of 9.4% in 2021.   In absolute figures, 28,000 Filipinos in Valenzuela City were jobless last year from the 27,000 […]

Land use geodatabase in Bataan to serve as model for LGUs 

THE DEPARTMENT of Environment and Natural Resources (DENR) has partnered with other government agencies to develop a geodatabase for land use management in Bataan province, which will be used as a model for other local government units (LGUs).    “The inventory of public lands is groundbreaking and will serve as a model of other provinces in […]

NGCP activates Toril substation’s 100-MVA power transformer  

THE NATIONAL Grid Corp. of the Philippines (NGCP) announced on Wednesday that it had energized the 100 megavolt amperes (MVA) power transformer in its Toril substation in Davao City, a part of its Mindanao Substation upgrading program.    “The energization of a 100-MVA power transformer in NGCP’s Toril Substation marks the first milestone in the second […]