LOCAL EQUITIES may trade sideways this week due to bargain hunting and a lack of fresh leads. The Philippine Stock Exchange index (PSEi) declined by 95.23 points or 1.47% to 6,379.03 on Friday, while the broader all shares index went down by 33.65 points or 0.97% to close at 3,422.28. Week on week, the PSEi […]
Category: Hot News
Peso may move sideways ahead of key US data
THE PESO is expected to trade sideways against the dollar this week ahead of the release of US economic data that could affect the US Federal Reserve’s next move. The local currency closed at P55.62 versus the dollar on Friday, weakening by 12 centavos from Thursday’s P55.50 finish, data from the Bankers Association of the […]
Philippines told to monitor US planes with entry of 2nd aircraft in two days
A SENATOR on Sunday urged the government of President Ferdinand R. Marcos, Jr. to monitor the presence of US military planes in the country, as she questioned the entry of a second C-17 Globemaster transport aircraft in two days. Authorities should find out whether covert US military flights had aggravated the already tense situation in […]
Europe could play bigger role to keep Indo-Pacific region free, analysts say
ESCALATING tensions in the Indo-Pacific region may be pushing the European Union (EU) to pursue maritime deals with the Philippines amid China’s increased assertiveness in the South China Sea, according to political analysts. EU commitment to support regional stability is also a sign of insecurity on the bloc’s part after Russia’s invasion of Ukraine, they […]
Congressmen seek probe of ‘Love the Philippines’ fiasco
A GROUP of congressmen is seeking to investigate the gaffe involving the Philippines’ latest global tourism campaign in which the ad agency used stock footage from other countries. “It is imperative that we shed light on this ‘Frasco fiasco’ to ensure that public funds are being utilized appropriately and that there is no undue influence […]
MWSS told to act vs Maynilad
SENATOR Grace Poe-Llamanzares on Sunday asked the Metropolitan Waterworks and Sewerage System (MWSS) to take action against Maynilad Water Services, Inc. with its planned water service interruption affecting almost 600,000 customers starting July 12. “MWSS should not take this matter sitting down as these recurring service cuts will affect over half a million consumers,” the […]
DoJ rules on Nayong Pilipino
THE NAYONG Pilipino Foundation (NPF) need not hold a bidding to lease part of its park to Westside City, Inc., according to the Department of Justice (DoJ). In a legal opinion dated July 6, Justice Undersecretary Nicholas Felix L. Ty. said there is no law that requires public bidding for the lease of government property. […]
Few Filipinas get cancer tests
ONLY 1% OF FILIPINO women are screened for breast and cervical cancer, according to a government think tank, the Philippine Institute for Development Studies (PIDS) said in a statement on Sunday. “Screening for breast and cervical cancer among Filipino women could be the lowest in the world with just 1% of eligible women getting themselves […]
Carmona now a city of Cavite
THE TOWN of Carmona in Cavite province is now a city after residents on Saturday voted in favor of a law on the conversion, the Commission on Elections (Comelec) said on Sunday, paving the way for a bigger share in national taxes for the city. More than 30,000 residents voted yes for the town’s conversion […]
Poor mental health tack cited
THE PHILIPPINES lags in mental health care due to poor enforcement of its laws, as well as the lack of psychologists in the country, experts said at the weekend. “We have fewer than 3,000 psychologists in the country,” Arsenio S. Alianan, Jr., associate director of the Ateneo Bulatao Center, said in a video interview. He […]
Three provincial airports could undergo Swiss challenge this year
THE Department of Transportation (DoTr) said it hopes to kick off the public procurement process for three provincial airports within the year, starting with Swiss challenges on three projects. “There are three pending proposals with the National Economic and Development Authority (NEDA) right now. Then we will have the other provincial airports which we expect […]
Water interruptions seen likely as Angat Dam levels dwindle
DECLINING water levels at Angat Dam will likely result in water interruptions and power generation, water and energy regulators said. On Saturday, the National Water Resources Board (NWRB) reduced the water allocation for Metropolitan Waterworks and Sewerage System (MWSS) to 48 cubic meters per second (CMS) from 50 CMS, according to Patrick James B. Dizon, […]
Tourism industry lobbies for more gov’t infra support to improve destinations’ accessibility
SINGLING OUT President Ferdinand R. Marcos, Jr., as the chief executive most supportive of tourism, the travel industry said it is hoping the support will continue in the form of infrastructure projects that help raise access to destinations. Roberto Z. Zozobrado, Tourism Congress of the Philippines president, told reporters at a travel expo in Pasig […]
PHL food and beverage sales growth slows with end of ‘revenge spending,’ USDA says
GROWTH in the Philippine food and beverage sector is projected to slow to 6% this year with the end of the “revenge spending” cycle, according to the United States Department of Agriculture (USDA). “Strong domestic demand anchored to sustained food and beverage spending should lead to increased food and beverage retail sales,” the USDA said […]
Providing value for the tech-reliant consumer
(First of two parts) The emergence of disruptive technologies along with ongoing global crises are impacting the consumer product and retail (CPR) sector, and the consumer value proposition working today may not be successful tomorrow. With this in mind, regional and local business strategy, Climate Change and Sustainability Services, and CPR leaders from SGV and […]
BanKo empowers sustainable enterprises through convenient financial solutions
BanKo, the microfinance arm of the Bank of the Philippine Islands (BPI), is on a mission to empower sustainable microenterprises through convenient and affordable microfinance products that promote economic growth and push for digitalization as a means of sustainability and financial inclusion. “BanKo is serious in its commitment to be the trusted financial partner of […]
Rate cuts eyed if inflation falls below 4%
By Keisha B. Ta-asan, Reporter INTEREST RATE CUTS may be on the table this year if inflation falls below 4% by October, the new Bangko Sentral ng Pilipinas (BSP) governor said. BSP Governor Eli M. Remolona told reporters on Wednesday evening the slower-than-expected inflation in June “somewhat” supports an extended pause in interest rate hikes. […]
EO streamlines permits for digital infrastructure
PRESIDENT Ferdinand R. Marcos, Jr. has ordered government agencies to simplify the permitting process for telecommunications and internet infrastructure projects. However, an analyst warned that Executive Order (EO) No. 32 may be challenged at the local level because it may impede the autonomy of local government units (LGU) to implement policies they deem important. “To […]
Gov’t agencies ordered to strengthen efforts vs money laundering
MALACAÑANG ordered all relevant government agencies to implement plans and programs in the fight against money laundering, terrorism financing and proliferation financing, as the Philippines seeks to exit the Financial Action Task Force’s (FATF) “gray list” by January 2024. President Ferdinand R. Marcos, Jr. signed Executive Order No. 33, which updated the National Anti-Money Laundering, […]
Central bank launches overnight reference rate
THE BANGKO SENTRAL ng Pilipinas (BSP) launched on Thursday an overnight reference rate that will serve as the market’s reference amid the phaseout of the London Interbank Offered Rate (LIBOR). Now published on the BSP’s website, the overnight rate (ON) uses the secondary market rate on the 28-day BSP bill as a reference to […]