Calls to protect the planet and the people get more resonating and expansive in the past years. This prompts several corporations to commence taking on the responsibility to make good contributions to the environment and humanity by setting and committing to targets and plans for sustainability. Nowadays, sustainability is among the top priorities in the […]
Here’s a quick glance at how PSEi stocks fared on Thursday, June 15, 2023.
THE PESO weakened against the dollar on Thursday after the US Federal Reserve signaled its tightening cycle is far from over. It closed at P55.945, down by half-a-centavo from Wednesday’s P55.94 finish, data from the Bankers Association of the Philippines website showed. The currency opened at P56 a dollar, weakened to as much as P56.10 […]
By Adrian H. Halili PHILIPPINE stocks rose on Thursday on last-minute bargain hunting as investors digested the US Federal Reserve’s decision to pause interest rate increases. The benchmark Philippine Stock Exchange index (PSEi) inched up by 0.42% or 27.36 points to close at 6,461.42. The broader all-share index gained 0.2% or 7.03 points to 3,444.07. […]
PARTICIPATING in more free trade arrangements will be the key to making the Philippines an export hub, President Ferdinand R. Marcos, Jr. said, adding that attaining reciprocity with future trading partners will require opening up the economy to some extent. Speaking to reporters on the sidelines of a trade forum, Mr. Marcos said the government’s […]
THE Department of Trade and Industry (DTI) said export promotion will require greater funding to achieve the government’s aggressive goals for exporters. Trade Secretary Alfredo E. Pascual told reporters on the sidelines of the launch of the Philippine Export Development Plan (PEDP) 2023-2028 in Taguig City that the extra funding will also go towards helping […]
THE average electricity spot market price declined by P1.73 per kilowatt-hour (kWh) in the first two weeks of June due to additional power available on the Luzon power grid, the Independent Electricity Market Operator of the Philippines (IEMOP) said on Thursday. In a virtual media briefing, Christian Karla A. Rica, an IEMOP assistant manager for […]
THE National Water Resources Board (NWRB) has agreed to extend the 52 cubic meters per second (CMS) water allocation for Metropolitan Waterworks and Sewerage System (MWSS) until end of June. “Please be informed that NWRB approved the request of MWSS to extend the allocation of 52 CMS for June 16 to June 30,” Sevillo O. […]
RED TAPE and inadequate incentives are posing obstacles to the growth of the Philippine renewable energy (RE) industry, the World Wide Fund for Nature (WWF) said in a report. “Lengthy permitting process has been identified as one of the biggest obstacles to the deployment of renewable energy. Just at the initial stage, the requirement for […]
THE PHILIPPINES must avoid over-regulating open-pit miners to the point of rendering their operations unviable, a government think tank said. “The most daunting task lies in finding a balance” between protecting the environment and reaping the economic benefits of mining, Ludwig John H. Pascual, a consultant with the Philippine Institute for Development Studies, said at […]
THE PHILIPPINE PESO strengthened against the dollar on Wednesday after inflation in the US continued to cool, and as investors waited for the results of the US Federal Reserve’s policy meeting. It closed at P55.94, inching up by a centavo from Tuesday’s P55.95 finish, data from the Bankers Association of the Philippines website showed. The […]
By Adrian H. Halili PHILIPPINE equities declined on Wednesday as reports of plunging foreign direct investment (FDI) in March and the US Federal Reserve’s policy meeting weighed on sentiment. The benchmark Philippine Stock Exchange index (PSEi) fell by 1.12% or 73.20 points to close at 6,434.06. The broader all-share index went down by 0.87% or […]
THE trade deficit in agricultural goods expanded 10.2% year on year to $2.81 billion in the first quarter, with plunging exports significantly outweighing a decline in imports, according to the Philippine Statistics Authority (PSA). In a report, the PSA said overall trade in agriculture — or the sum of exports and imports — fell 8.6% […]
THE National Tax Allotment (NTA) to be set aside for local government units (LGUs) in 2024 was pegged at P871.38 billion, the Department of Budget and Management (DBM) said. “The fiscal year (FY) 2024 NTA level is P51.12 billion or 6.23% higher than the FY 2023 NTA share of LGUs,” the DBM said in a […]
THE law setting up the Maharlika Investment Fund (MIF) expressly bars government pension funds and the health insurance system from investing in the sovereign wealth fund’s projects, former Senate President Franklin M. Drilon said. Mr. Drilon, who is also a former Justice Secretary, said in a statement that the law specifically bars investments by the […]
THE Department of Energy (DoE) said it will impose penalties of up to P100 million for violating the rules governing its Renewable Portfolio Standards (RPS) scheme. “This guidelines shall be liberally construed to carry out the objectives of the RE (Renewable Energy) Act and other renewable energy laws, rules and regulations, and to obtaining a […]
THE Department of Trade and Industry (DTI) said the Philippines could occupy a strong position in the game development industry, after game companies obtained export orders at a recent conference. “We are confident that with sustained initiatives to develop and promote Philippine capabilities in game development, the Philippines can position itself as a major player […]
THE Department of Agriculture (DA) said it organized a special task force to detect and contain emerging transboundary animal diseases. In a special order dated June 13, the DA said the task force will be a vehicle for strengthening collaboration between government and the private sector in managing animal diseases. The special task force will […]
THE Manila International Airport Authority (MIAA) said it expects to complete upgrades to the facilities of the Ninoy Aquino International Airport (NAIA) within three years. “We are taking steps and exploring all ways possible to achieve our deliverables based on our established priorities,” MIAA Officer-in-Charge Bryan Andersen Y. Co said in a statement. The MIAA […]
THE Department of Transportation (DoTr) needs to assign a higher priority to solicited proposals for modernizing Ninoy Aquino International Airport (NAIA), transportation experts said. In a statement on Wednesday, think tank Infrawatch’s Convenor, Terry L. Ridon, said solicited proposals are more likely to consider the public interest. “The public interest, particularly reasonable terminal fees, is […]