Posts by gia:

Peso climbs vs dollar on easing concerns over banking sector

THE PESO strengthened to an over one-month high against the dollar on Tuesday as banking sector concerns eased and expectations of a dovish move from the Philippine central bank. The local currency closed at P54.44 versus the dollar on Tuesday, appreciating by 23.50 centavos from Monday’s P54.675 finish, data from the Bankers Association of the […]

Shares rise on expectations of smaller rate hikes

STOCKS closed in the green on Tuesday as market sentiment improved on easing worries over the banking sector and expectations of smaller rate hikes from central banks in the Philippines and in the United States. The benchmark Philippine Stock Exchange index (PSEi) increased by 79.73 points or 1.23% to close at 6,530.75 on Tuesday, while […]

NEDA ordered to conduct study on delayed devolution timeline

PRESIDENT Ferdinand R. Marcos, Jr. has tasked the Commission on Devolution with studying a delayed timeline for transferring National Government (NG) functions to local government units (LGUs), citing concerns about the LGUs’ ability to carry out these functions. Budget Secretary Amenah F. Pangandaman made the announcement after a meeting with Mr. Marcos and members of […]

House gives 3rd reading approval to REIT, crop insurance bills

THE House of Representatives approved on third and final reading a bill requiring real estate investment trusts (REITs) to reinvest the proceeds of their fundraising activities in the Philippines. Legislators also passed on third reading measures encouraging the private sector to invest in crop insurance and establishing a financing program for micro and small enterprises. […]

German solar, energy-efficiency firms seeking out PHL opportunities

GERMAN SOLAR and energy-efficiency companies are seeking out opportunities in the Philippines, according to the German-Philippine Chamber of Commerce and Industry (GPCCI). The GPCCI said in a statement that five German companies participated in the Energy Efficiency and Solar for Buildings conference in Makati City on Tuesday. These five German companies were SolarNext AG, MIG […]

Aquaculture industry bats for longer-term fishpond leases

THE aquaculture industry said it needs longer leases to earn an adequate return for developing fishponds out of mangrove areas. “One of the problems is that fishponds are still tenurial under the fishpond lease agreement (FLA). I think there are around 60,000 hectares of fishponds under the FLA that are about to expire,” according to […]

Domestic trade in fourth quarter down 8.3%

THE domestic trade in goods fell 8.3% year on year by value in the fourth quarter, the Philippine Statistics Authority (PSA) reported on Monday. According to preliminary data from the PSA’s Commodity Flow in the Philippines report, the value of goods traded in the three months to December fell to P162.74 billion. A year earlier, […]

Cold storage raids in Navotas yield P120M in allegedly smuggled food

THE Department of Agriculture (DA) said on Tuesday that it has confiscated meat, poultry and fishery products worth P120 million on suspicion of smuggling, after inspections carried out at seven storage facilities in San Rafael Village, Navotas City. In a joint operation led by the Bureau of Customs, the inspectors confiscated frozen agricultural products at […]

GDP downside risk warning issued if PHL joins CPTPP trade deal

PHILIPPINE participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) may result in a decline in gross domestic product (GDP), according to the Philippine Institute for Development Studies (PIDS). “The decline in the GDP connected with the Philippines’ participation in the CPTPP can be seen in the deterioration of the country’s trade balance. […]

Filipino gets jail term for marital infidelity

MARITAL infidelity amounts to psychological abuse that is punishable by the law on violence against women, according to the Philippine Supreme Court. In a decision dated March 1, the tribunal affirmed the conviction of an unnamed man for “causing mental or emotional anguish, public ridicule or humiliation” on his wife after he had an affair. […]

Bill requiring solar powered gov’t offices filed

A LAWMAKER wants government offices to start shifting to solar power to cut electricity cost and promote renewable energy use.    House Majority Leader and Ilocos Norte Rep. Ferdinand Alexander A. Marcos filed House Bill No. 7625, seeking the installation of solar energy facilities in all government buildings and offices.  “It is imperative that we further […]