Peso rises on oil’s decline

THE PESO strengthened further against the dollar on Wednesday on lower global oil prices and better Philippine employment and factory data. The local currency ended at P55.45 against the greenback on Wednesday, surging by 52.5 centavos from P55.975-a-dollar close on Tuesday, based on data from the Bankers Association of the Philippines. The peso opened stronger […]

Telcos seek EO for permanent expedited tower permit process

THE telecommunications industry and the Anti-Red Tape Authority (ARTA) are asking President Ferdinand R. Marcos, Jr. to issue an executive order (EO) to make permanent the expedited permit process for the construction of towers and other internet infrastructure. ARTA and the telcos, represented by the Private Sector Advisory Council (PSAC) Digital Infrastructure Sector, noted that […]

Philippines signs deal to prepare agencies to tap climate financing

THE Department of Finance (DoF) said it has signed an agreement with the Global Green Growth Institute (GGGI) to prepare government financial institutions and agencies to tap the Green Climate Fund (GCF) for project financing. “This program will bolster the country’s capacity in planning, accessing, delivering and monitoring climate finance through this new global financial […]

Digitalization of finance seen supporting inclusivity goals

THE digitalization of financial services is expected to reduce the ranks of the underserved, including rural residents, micro-businesses, and women, according to a report on Southeast Asian digital financial services issued by the World Economic Forum. “Access to finance is not uniform among ASEAN’s digital generation. Among those who sought credit support, nearly half could […]

Magnitude 5.3 earthquake rocks parts of Luzon, including Metro Manila

A MAGNITUDE 5.3 earthquake struck off the eastern part of Luzon mainland on Wednesday, with tremors felt all the way up to some northwestern provinces, according to state seismologists.    The earthquake was recorded at 1:05 p.m. with the epicenter located northeast of Tinaga Island in Camariñes Norte, according to the Philippine Institute of Volcanology and […]