THE PESO is expected to weaken this week as the dollar’s strength may persist on safe-haven demand as investors await the details of the tentative deal reached to raise the US debt ceiling. The local currency closed at P55.79 versus the greenback on Friday, climbing by 27.50 centavos from Thursday’s P56.065 finish, Bankers Association of […]
Category: Hot News
PSEi to move sideways as US debt ceiling talks end
PHILIPPINE SHARES are expected to move sideways in the coming days as investors await the details of the initial US debt ceiling deal reached over the weekend. The Philippine Stock Exchange index (PSEi) fell by 30.02 points or 0.45% to close at 6,530.20 on Friday, while the broader all shares index went down by 8.71 […]
Third ‘green’ auction could offer 9,000 MW
THE Department of Energy (DoE) could offer 9,000 megawatts (MW) worth of geothermal and hydroelectric projects in the third round of the green energy auction (GEA) program this year. “We are now working on the green energy auction program 2 and hopefully for GEA-3 for geothermal, impounding hydro and pumped storage hydro, within the year,” […]
Council hoping EU FTA negotiations resume this year
EUROPEAN BUSINESSES want free trade agreement (FTA) discussions between the European Union (EU) and the Philippines to resume within the year, a business council official said. “I hope they can announce the recommencement this year. I think it is very important. Europe is lagging behind other partners of Southeast Asia in terms of FTAs. We […]
IPEF seen deepening PHL integration with global supply chains
THE PHILIPPINES views the US-led Indo-Pacific Economic Framework for Prosperity (IPEF) as a means of deepening its integration with global supply chains, the Department of Trade and Industry (DTI) said. “We are mainly interested in the areas of supply chain integration and strengthening crisis response,” Trade Secretary Alfredo E. Pascual said during a meeting with […]
Estate tax installment scheme proposed to ease payment burden
A TWO-YEAR estate tax installment scheme is expected to ease the burden on poorer taxpayers in settling their dues, Senator Sherwin T. Gatchalian said. “We should help people who lack the capacity to pay their estate taxes. This provision is important to ensure effectivity of the estate tax amnesty extension,” Mr. Gatchalian said in a […]
GOCC subsidies up 0.7% in March
SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) rose 0.7% year on year in March, the Bureau of the Treasury reported. Budgetary support to GOCCs increased to P10.795 billion from P10.717 billion a year earlier, the Treasury said. It also rose 14.8% from the P9.401 billion posted in February. The government provides subsidies to GOCCs […]
SRP schemes on farm produce expected to encourage smuggling
SUGGESTED retail price (SRP) schemes for agricultural commodities will cap farmers’ earnings while inviting more smuggling, an analyst said. “High prices are (the result of) high transaction costs created by large merchants and middlemen,” Economics Professor Leonardo A. Lanzona said in an e-mail. “Hence, apart from preventing farmers from selling their products at high prices, […]
Rethinking value: The evolution of consumer consumption
(Second of three parts) People are buying less and/or buying better in various ways, a trend that is creating new consumption patterns. While consumption is still crucial for economic growth, companies will need to adapt as customers increasingly prefer experiences and digital goods over tangible items. To remain competitive, companies will need to know what […]
Stars in 3 seasons honored in Collegiate Press Corps’ Awards
1 of 3 RHENZ ABANDO — PHILSTAR FILE PHOTO ANGE KOUAME — PHILSTAR FILE PHOTO THIRDY RAVENA — PHILSTAR FILE PHOTO AFTER a long wait, the Collegiate Press Corps’ Awards Night returns to the red carpet to honor the brightest stars from the past three seasons tonight at the Hummingbird Rooftop Bar in Quezon City. […]
Concio grabs solo lead of National Juniors Chess Championships final
MICHAEL CONCIO JR — FIDE MICHAEL Concio, Jr. continued to live up to hype as he stopped giant killer Vince Duane Pascual in the fifth round yesterday and seized the solo lead in the Grand Finals of the Philippine National Juniors Chess Championships in Alicia, Isabela. A day after conquering second pick Chester Neil Reyes, […]
Kaya FC-Iloilo wins first PFL crown
KAYA FC-Iloilo put the final gem to its first Philippines Football League (PFL) crown with a 3-1 dispatching of Stallion Laguna FC on Saturday night at the Rizal Memorial Stadium. Jhan Melliza delivered the go-ahead in the 65th minute and sub Jarvey Gayoso iced the game with his 85th minute strike as Kaya capped its […]
Philippines settles for silver medal finish in Coed Slo-pitch Softball
THE WORLD Cup-bound Philippines settled for a silver medal finish after falling to Chinese Taipei, 8-2, at the conclusion of the Coed Slo-pitch Softball World Cup in Pattaya, Thailand over the weekend. Already assured of a spot in the world stage following a 31-11 annihilation of the host Thais, the Ana Santiago-mentored, Cebuana Lhuillier-sponsored Nationals […]
Derrick White strikes at buzzer, Celtics force Game 7 versus Heat
DERRICK White scored on a tip-in just before the buzzer sounded and the Boston Celtics forced a Game 7 with a solid 104-103 victory over the host Miami Heat in the Eastern Conference finals on Saturday night. After Jimmy Butler made three free throws with 3.0 seconds left to give Miami the lead, Boston’s Marcus […]
Historic Game 7
The Celtics looked dead this time last week. Down zero to three in the East Finals and facing Game Four on the road, they seemed destined for a consequence all 150 teams in the same position before them suffered: a series loss and elimination from the playoffs. Even their diehard followers appeared resigned to what […]
Manila needs long-term EV incentive plan, analysts say
By Kyle Aristophere T. Atienza, Reporter THE PHILIPPINES needs a long-term incentive program to encourage electric vehicle (EV) companies here and overseas to set up local manufacturing hubs, a public investment analyst said. “There needs to be a specific manufacturing incentive program to encourage the shift to electric vehicles in the country,” Terry L. Ridon, convenor […]
Stricter enforcement of law vs slave labor in Philippines sought
THE GOVERNMENT of Philippine President Ferdinand R. Marcos, Jr. should bolster efforts against human trafficking by inspecting businesses to ensure their workers get paid fair wages, analysts said at the weekend. “A large number of the labor force suffer from low wages, irregular jobs, inadequate social protection and unsafe and unhealthy working conditions — a […]
Typhoon Mawar to bring rains in Luzon, Western Visayas until Wednesday
TYPHOON Mawar started to bring wind and rain in northern parts of the Philippines Sunday morning and is expected to affect up to the central-western portions of the country until Wednesday, the state weather agency said. Locally named Betty, the typhoon was located 715 kilometers (kms) east of Tuguegarao City in Cagayan province as of […]
House to pass salt industry dev’t, BI modernization bills before adjournment
THE HOUSE of Representatives will pass on final reading measures aimed at strengthening the immigration bureau and reviving the salt industry before Congress adjourns this week, the chamber’s leader said. “We are doing our part in supporting the President’s socio-economic development agenda by passing these urgent proposed pieces of legislation that would sustain our economic […]
Most new COVID cases still in Metro Manila, surrounding provinces
THE PHILIPPINES posted nearly 1,800 new COVID-19 cases on Saturday, with the capital region still topping the list of areas with the most number of daily infections, according to pandemic monitoring group OCTA. Metro Manila accounted for 570 of the 1,795 infections nationwide on Saturday, OCTA fellow Fredegusto P. David said in a tweet. There […]