Posts by gia:

Stocks fall on weak volume as market awaits leads

PHILIPPINE SHARES closed lower on Tuesday amid weak trading volume as investors look for fresh leads. The Philippine Stock Exchange index (PSEi) declined by 41.71 points or 0.64% to 6,479.93 on Tuesday, while the broader all shares index went down by 16.86 points or 0.48% to close at 3,469.47. “This Tuesday, the local market dropped […]

Peso climbs as inflation eases further in May

THE PESO inched up against the dollar on Tuesday after inflation eased further in May. The local currency closed at P56.22 versus the dollar on Tuesday, rising by two centavos from Monday’s P56.24 finish, data from the Bankers Association of the Philippines’ website showed. The local unit opened Tuesday’s session at P56.19 per dollar. Its […]

SRA lowers refined sugar output estimate for 2023 crop season

REFINED SUGAR output is now estimated to have dropped by 110,000 metric tons (MT) compared to production levels in the previous crop season to about 640,000 MT, with yields affected by early milling as well as unfavorable weather. Sugar Regulatory Administration (SRA) Acting Administrator Pablo Luis S. Azcona said in a briefing that milling output […]

Community opposition cited as top hurdle to starting energy projects

ENERGY executives in the Philippines cited “community opposition” as a major hurdle to implementing energy projects and expressed concerns that such frictions could potentially hinder the country’s transition to greener energy. Research firm GHD, citing the results of a study, said 76% of Philippine energy industry leaders identified community opposition as among the “biggest barriers” […]

Energy dep’t clarifies on-grid rollout procedures for renewables

THE Department of Energy (DoE) has issued new procedures to increase the share of renewable energy (RE) in on-grid facilities under the Renewable Portfolio Standards (RPS) scheme starting this year. In separate department circulars, the DoE issued amendments to the RPS for both on-grid and off-grid areas, which were signed on May 23. “This RPS, […]

Philippines stays off European IP watch list

THE PHILIPPINES has stayed out of the European Commission’s intellectual property rights (IPR) watch list since last being listed in 2019, with officials touting the achievement as a mark of the country’s attractiveness as a potential investment destination. “Our exclusion from the list from 2019 signifies that we remain an attractive investment destination to trade […]

Pandemic demand helped agri wages, employment recover, study concludes

EMPLOYMENT and real wages in agriculture recovered during the pandemic due to surging demand for produce, the Philippine Institute for Development Studies (PIDS) said. “The experience of agriculture during the COVID-19 crisis had evidently been a unique one in the Philippines, with the sector’s employment share increasing, temporarily interrupting a declining trend that had persisted […]

Israel, Philippines to boost agri, water ties

ISRAEL has vowed to boost its partnership with the Philippines in agriculture and water management, and tourism, the presidential palace said on Tuesday. Israeli Foreign Minister Eli Cohen made the commitment during a meeting with President Ferdinand R. Marcos, Jr. on Monday, the Presidential Communications Office (PCO) said in a press release. “I think that […]

Complaint filed vs tanker firm, PCG, Marina over oil spill

THE NATIONAL Bureau of Investigation (NBI) on Tuesday filed a criminal complaint against the owners of the sunken fuel tanker that caused a major oil spill in Oriental Mindoro. Officials from the Maritime Industry Authority (Marina) and the Philippine Coast Guard (PCG) were also named in the complaint that cites falsified documents for the vessel […]

BARMM pilots LGU revenue enhancement program

THE BANGSAMORO Ministry of the Interior and Local Government has launched a program that aims to guide local governments on how they can increase their internally-generated revenue, which could be used for their own public service initiatives.  The Revenue Enhancement Assistance for Local Government Units (REAL) program will be piloted in three towns in Maguindanao […]

Pilots alerted to avoid 3 PHL active volcanoes

THE CIVIL Aviation Authority of the Philippines (CAAP) on Tuesday updated its warning to pilots relating to volcanoes that should be avoided, with Kanlaon now added to Taal and Mayon as being at risk of sudden eruptions.   “The CAAP has updated its NOTAM (notices to airmen) to inform and alert flying aircraft of the current […]

Tropical depression Chedeng unlikely to bring heavy rains 

NO heavy rains are expected directly from tropical depression Chedeng, the third typhoon to enter the Philippines this year, but it could enhance the prevailing southwest monsoon, the state weather agency said on Tuesday.    Chedeng “is forecast to remain far from the Philippine landmass,” the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA) said in […]

Senator says pension funds not intended to invest in Maharlika

A SENATOR on Tuesday emphasized the strict prohibition of government pension and insurance funds from participating in the proposed Maharlika Investment Fund (MIF), saying this was the intent of the bill approved by Congress.   Finance Secretary Benjamin E. Diokno said last week that pension funds may invest in projects bankrolled by the MIF.   “It is […]

Gov’t to mitigate El Niño impact with water, crop management

THE GOVERNMENT will promote “proper” water management and push for crop diversification to mitigate the potential impacts of El Niño, which is expected to affect the agriculture sector, according to Malacañang.   The strategies that the Department of Agriculture (DA) has adopted in anticipation of the dry and warm weather condition also include adjustment of planting […]

NCMF secretary found guilty of simple misconduct over P29-M fund 

THE SUPREME COURT (SC) has found a former secretary of the National Commission for Muslim Filipinos (NCMF) guilty of simple misconduct over the misuse of former Senator Gregorio B. Honasan’s primary development assistance fund (PDAF) worth P29.1 million in 2012.   The ruling overturned a Court of Appeals and Ombudsman ruling that found former NCMF Secretary […]

DA says operations won’t be affected by graft complaint 

THE DEPARTMENT of Agriculture (DA) on Tuesday assured that its operations will not be affected by the graft complaint filed against DA Senior Undersecretary Domingo F. Panganiban over the alleged illegal importation of refined sugar in February.    “We continue to work, we have committed to ourselves as far as public service is concerned,” DA Spokesperson […]