Category: Hot News

THE value of the Philippines’ metallic mineral reserves rose 22% in 2022, according to the Philippine Statistics Authority (PSA). In its mineral accounts report, the PSA said the valuation of Class A gold, copper, nickel, and chromite resources was P491.19 billion, up from P402.73 billion a year earlier. Class A reserves are defined as “commercially […]

THE PHILIPPINES improved its score in an international index of trade facilitation, the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) said. The UN Global Survey on Digital and Sustainable Trade Facilitation graded the Philippines’ implementation rate at 87.1% this year, against 86.02% in 2021. The survey tracks progress made on […]

A BILL proposing to make permanent a Department of Trade and Industry (DTI) program building common production facilities for small businesses has been filed at the House of Representatives. House Bill No. 8421 backs the construction of shared service facilities (SSFs) to strengthen the production capacity of micro, small and medium enterprises (MSMEs). SSFs are […]

THE Energy Regulatory Commission (ERC) has issued a show-cause order against the National Grid Corp. of the Philippines (NGCP) over delays in 37 transmission projects.  In an order promulgated on June 14 and issued July 4, the ERC said the NGCP failed to meet its proposed timelines to complete the projects, and directed the system […]

THE Bureau of Fisheries and Aquatic Resources (BFAR) said it set a growth target for bangus (milkfish) fingerling production of 6% a year until 2027. The target implies fingerling output of about 413,000 metric tons (MT) this year. “We need to produce 413,000 metric tons of fingerlings (equivalent to) 2.6 billion or almost 9 billion […]

METROPOLITAN Bank & Trust Co. (Metrobank) said on Thursday that it reduced its full-year average inflation forecast to 5.8% from 6.1% after the consumer price index (CPI) eased in June. Metrobank Research said in a report that it also revised its 2024 outlook to 4.3% from 4.5%. Headline inflation eased for a fifth straight month […]

THE Bureau of Internal Revenue (BIR) said it extended the deadline for businesses to obtain the new Notice to Issue Receipt/Invoice (NIRI), a sign which they are required to post on their premises. Businesses now have until Sept. 30 to obtain and display the NIRI, which will replace the previous Ask for Receipt Notice (ARN).  […]

THE Department of Agriculture (DA) said it has compiled a list of provinces expected to be affected with the onset of El Niño, ranging from dry conditions to outright droughts. In a bulletin, the DA’s Disaster Risk Reduction Management (DRRM) Operations Center said 28 provinces will experience dry conditions, 36 provinces dry spells, and two […]

THE European Chamber of Commerce of the Philippines (ECCP) said the proposed extension of the European Union’s Generalized Scheme of Preferences Plus (GSP+) will continue to provide opportunities for Philippine exporters. In a statement on Thursday, the ECCP said it “welcomes the proposal of the European Commission to extend the EU GSP+ grant to the […]

APPROVED building permit applications picked up 31.4% in 2021 as pandemic restrictions eased, the Philippine Statistics Authority said. The final data release for building permits tallied 162,619 approvals, still below the pre-pandemic issuance level of 173,162 in 2019. In 2020, approvals had contracted 28.5% to 123,783. Building projects covered by the permits were equivalent to […]

A MUNTINLUPA trial judge on Thursday recused himself from the last drug trafficking case against former Senator Leila M. de Lima to erase doubts of bias. Judge Abraham Joseph B. Alcantara, who acquitted her in a separate illegal drug case in May, granted the motion of government prosecutors. “The undersigned presiding judge will exercise prudent […]

THE DEPARTMENT of Justice (DoJ) on Thursday said it is trying to improve coordination with law enforcers after the Philippine Supreme Court (SC) slammed authorities’ “reprehensible” handling of a P1-billion illegal drug case that led to the acquittal of all suspects. “We are asking the prosecutors to own up to the responsibilities they have and […]

HOUSE Speaker Ferdinand Martin G. Romualdez on Thursday vowed to push the immediate passage of a bill that seeks to impose stiffer penalties against farm smuggling. “As soon as the start of the second regular session of the 19th Congress, we will immediately buckle down to work for the passage of the proposed amendments to […]

THE DEPARTMENT of Energy (DoE) on Thursday signed an agreement with the Bangsamoro Ministry of Environment, Natural Resources, and Energy (MENRE) to facilitate the development of the power sector in the southern region. “The successful establishment of this IEB (Intergovernmental Energy Board) Circular holds immense potential. It will not only contribute to the energy security […]

THE NATIONAL Water Resources Board (NWRB) has decided to reduce the water allocation for Metropolitan Waterworks and Sewerage System (MWSS) as Angat Dam’s water level is expected to fall below its minimum operating level this weekend. NWRB Executive Director Sevillo D. David, Jr., said the agency will automatically modify the allocation for MWSS to 48 […]

By Revin Mikhael D. Ochave, Reporter PHILIPPINE tourism industry stakeholders are optimistic that the country would exceed its international arrivals target this year given the record in the first six months, approaching holidays, and easing inflation. Tourism Congress of the Philippines (TCP) President Roberto Z. Zozobrado told reporters in a chance interview at a launch […]

Shares inched lower on Wednesday on profit taking after the market’s two-day climb, tracking Asian shares’ decline as June inflation was within expectations. The Philippine Stock Exchange index (PSEi) slipped by 2.08 points or 0.03% to end at 6,512.39 on Wednesday, while the broader all shares index declined by 2.78 points or 0.08% to close […]

THE PESO fell against the dollar on Wednesday on expectations of hawkish signals from the minutes of the US Federal Reserve’s meeting last month. The local currency closed at P55.385 versus the dollar on Wednesday, weakening by 15.50 centavos from Tuesday’s P55.23 finish, data from the Bankers Association of the Philippines’ website showed. The local […]

THE PHILIPPINE Coast Guard (PCG) on Wednesday decried “aggressive actions” by Chinese vessels that it accused of blocking its ships on a resupply mission at the Second Thomas Shoal in the South China Sea on June 30. In a statement posted on its Facebook page, PCG said BRP Malabrigo and BRP Malapascua had to slow […]