THE MARKET may see bargain hunting this week due to dampened investor sentiment and expectations of further interest rate hikes. On Friday, the benchmark Philippine Stock Exchange index (PSEi) fell by 70.30 points or 1.07% to end at 6,496.50 points, while the broader all shares index went down 30.76 points or 0.89% to close at […]
Category: Hot News
Peso likely to move sideways on rate hike bets
THE PESO is expected to move sideways against the dollar this week as both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) are likely to continue hiking rates to bring down inflation. The local unit closed at P55.56 per dollar on Friday, rising by 12.5 centavos from its P55.685 finish on Thursday, […]
Agriculture industry lobbies for ‘mandatory’ Maharlika allocation
THE AGRICULTURE industry said it is hoping to capture as much as 30% of the proposed sovereign wealth fund’s investable capital, saying that the wealth fund will draw away funding from the farm sector. Danilo V. Fausto, president of the Philippine Chamber of Agriculture and Food, Inc. (PCAFI), told reporters Friday, “We demand a mandatory […]
Hybrid exclusion from zero-tariff policy meant to spur EV charging station development — BoI
HYBRID vehicles were excluded from zero-tariff treatment because their widespread adoption could delay the development of charging infrastructure for electric vehicles (EVs), the Board of Investments (BoI) said. Ceferino S. Rodolfo, Trade undersecretary and Board of Investments (BoI) managing head, said: “We want to develop the infrastructure, the charging stations. The problem with hybrid (vehicles) […]
Moody’s Analytics says lack of capital formation recovery a drag on Philippine growth potential
MOODY’S ANALYTICS said that while parts of the Philippine economy have shown signs of recovery, capital formation continues to lag, possibly signifying economic scarring over the medium term. Moody’s Analytics said it now sees the Philippines’ medium-term growth potential at 6%, down from 6.6 % previously, due to the delayed recovery in investment to pre-pandemic […]
BCDA, Singapore agency promote New Clark City to SME investors
THE BASES Conversion and Development Authority (BCDA) and Enterprise Singapore said they promoted New Clark City to investors from the information and communications technology (ICT) and smart city industries. In a statement over the weekend, the BCDA said that together with Enterprise Singapore, they conducted a second round of business-to-business and industry-focused meetings with urban […]
DoJ clears power co-ops for tax exemptions without needing to register with regulator
The Department of Justice (DoJ) said all electric cooperatives may apply for tax exemptions without prior registration with the Cooperative Development Authority. In a six-page legal opinion dated Dec. 13 addressed to Energy Secretary Raphael Perpetuo M. Lotilla, the DoJ said registration with the CDA is not specified as a requirement by the National Electrification Administration […]
Cybersecurity as a board priority
Cybersecurity came to the forefront of critical concerns when companies had to shift to remote working at the height of the pandemic. Businesses continued to accelerate their transformation to address disruption, but many did not consider cybersecurity as part of the decision-making process — likely due to business urgency or oversight. As a result, as […]
PHL given 3 months to comply with EU standards on seafarers
THE PHILIPPINE Maritime Industry Authority (Marina) on Sunday gave assurance that it is working to improve the country’s standards on seafarer training and certification as President Ferdinand R. Marcos, Jr. announced on Saturday that the country had been given three months to comply with European Union (EU) standards. “Marina is doing its best and exploring […]
Metro Manila logs highest COVID cases on Dec. 17
THE CAPITAL region Metro Manila recorded the most number of new coronavirus disease 2019 (COVID-19) infections among all areas nationwide on Dec. 17, pandemic monitoring group OCTA said on Sunday. The National Capital Region (NCR), whose positivity rate had increased recently, accounted for 471 of the 1,196 cases recorded on Saturday, OCTA fellow Fredegusto P. […]
Duterte recognizes Sison’s legacy but hopes for end of insurgency
FORMER PRESIDENT Rodrigo R. Duterte acknowledged the historical legacy left by Communist Party of the Philippines founder Jose Maria Sison, but said his death “marks the end of an era” of armed struggle. Mr. Sison, who died at the age of 83 on Friday in the Netherlands where he had been living in exile since […]
Solon calls for probe on cause of death among inmates linked to De Lima case
A LAWMAKER called for a probe on the deaths of high-profile prisoners and possible links to the detention of a former senator. House Deputy Minority Leader France L. Castro said recent reports of a testimony of a prisoner at the national penitentiary claiming that one of his inmates did not die of COVID-19 but of […]
Bangsamoro celebrates Muslim heritage and tri-people diversity
A FLUVIAL parade on Monday featuring a reenactment of the arrival of Shariff Kabunsuan, the Arab missionary believed to have introduced Islam to southern Philippines in the 16th century, will cap off the Bangsamoro region’s five-day celebration of its heritage and diversity among its tri-people. “We take inspiration from the determination of Shariff Kabunsuan in […]
Baliuag now a city of Bulacan
THE TOWN of Baliuag in Bulacan province is now a city after its residents voted on Saturday in favor of a law on the conversion, which gives the area a bigger share in national taxes, the Commission on Elections (Comelec) said. In a statement on Saturday evening, Comelec said a total of 17,814 agreed with […]
Lawmaker questions looming hike in disaster insurance
A SOLON has filed a resolution seeking to investigate an increase in insurance premium rates for catastrophes like earthquakes, floods, and typhoons that will take effect by Jan. 1, and asked the Insurance Commission (IC) to suspend its approval of the hike. AGRI Party List Rep. Wilbert T. Lee, who filed House Resolution 632 on […]
Cabalida leads Batang Pinoy impressive new weightlifters
1 of 2 AUBREY TOM emerged the event’s first triple-gold medalist after she conquered the girls’ 400m individual medley. MARITANYA KROG emerged as one of the first four cycling winners in the criterium races. — PCO PUBLIC COMMUNICATIONS OFFICE ILOCOS SUR — In a sport where the country has high hopes of winning its next […]
Domination versus redemption in Battle of Katipunan
Game Today (Smart Araneta Coliseum) 6 p.m. — UP vs ATENEO (winner-take-all Game 3) THE Battle of Katipunan reaches yet another apex. For the second straight season, archrivals University of the Philippines (UP) and Ateneo collide head on in a winner-take-all Game 3 of the finals with the UAAP Season 85 men’s basketball title at […]
Minnesota Vikings rally to biggest comeback in NFL history, edge Indianapolis Colts in overtime
THE MINNESOTA Vikings pulled off the biggest comeback in National Football League (NFL) history on Saturday when they rallied from a 33-0 halftime deficit to beat the visiting Indianapolis Colts 39-36 in overtime. Minnesota, who trailed 36-7 with under five minutes to play in the third quarter, put the finishing touches on the comeback when […]
TNT completes a hat trick of PBA 3×3 conference crowns
AFTER yielding the floor to Cavitex-led rivals in the latter stage of the six-leg PBA 3×3 Season Conference, TNT reasserted itself and took its familiar place as conference champions. Sniper Almond Vosotros, no surprise, fired the kill shot in overtime as the No. 2 Tropang Giga sneaked past the top-seeded Braves, 19-17, to complete a […]
Croatia beats Morocco 2-1 to clinch third spot at World Cup
DOHA — Croatia beat injury-hit Morocco 2-1 in the World Cup third-place playoff on Saturday to leave Qatar on a high after again surpassing expectations following their run to the final in 2018. Despite defeat, Morocco also leave with heads aloft after becoming the first African side to reach a World Cup semifinal. Mislav Orsic’s […]