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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 […]

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’ […]

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 […]

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 […]

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 […]

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 […]

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. […]

THE UK Developing Countries Trading Scheme (DCTS) is expected to help Philippine exporters save around 21 million pounds a year in tariffs. The projected savings will be the result of access to duty-free, quota-free trade on 92% of eligible goods under DCTS, which covers 99% of Philippine exports to the UK. “The DCTS lowers or […]

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 […]

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. […]

THE Philippine e-commerce market is expected to grow 15% to at least $16 billion in 2023, logistics platform Locad said. Constantin Robertz, Locad chief executive officer, said growth rates are slowing with the reopening of physical stores, though further e-commerce growth will continue. “While of course, the growth in percentage jump is no longer as […]

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 […]

PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday vowed to boost the Philippines’ ties with nations that host Filipino migrant workers, an apparent continuation of the government’s longstanding labor export policy. In his message on National Migrants Workers Day, Mr. Marcos Jr. said overseas Filipino workers (OFWs) “have left an indelible mark that uplifted both their […]

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 […]

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 […]

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 […]

THE DEPARTMENT of Migrant Workers (DMW) has partnered with the Department of Trade and Industry (DTI) to enhance the government’s program for assisting Filipino workers abroad who want to return home for good.  At a livestreamed signing ceremony on Wednesday, Migrant Workers Secretary Maria Susana V. Ople said the two departments will organize financial literacy […]

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 […]

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 […]

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 […]