Stocks rise on improved manufacturing activity

PHILIPPINE SHARES rose on Wednesday on improved manufacturing activity last month and as strong earnings of listed companies continued to boost market sentiment. The bellwether Philippine Stock Exchange index (PSEi) rose by 52.81 points or 0.85% to end at 6,206.24 on Wednesday, while the broader all shares index went up by 19.72 points or 0.6% […]

Hotels hit 60-80% occupancy; full recovery expected in 2024

HOTEL OCCUPANCY levels are currently between 60 and 80%, and are expected to return to pre-pandemic levels starting 2024, an industry executive said. Benito C. Bengzon, Jr., Executive Director of the Philippine Hotel Owners Association, Inc. (PHOA), added that the industry had been hoping for a boost from tourists making a long weekend of the […]

Customs exceeds Oct. target

THE BUREAU of Customs (BoC) said Wednesday that it exceeded its collection target for a tenth straight month in October. In a statement, the BoC reported collections of P75.5 billion in October, exceeding its target for the month by 18.6%. Year on year, October collections were up 35%. In the 10 months to October, collections […]

Prime Infra to seek Malampaya service contract extension

PRIME INFRASTRUCTURE Capital, Inc. (Prime Infra) is seeking to extend the license for Service Contract (SC) 38 covering the Malampaya gas-to-power project, after Shell Petroleum N.V. (Shell Petroleum) announced the completion of the sale of its stake in the contract to a unit of Prime Infra. “Prime Infra is committed to invest in critical infrastructure […]

Japan to help improve Philippine mountain road safety

THE DEPARTMENT of Public Works and Highways (DPWH) said Wednesday that Japan will provide assistance in improving mountain road safety, particularly in the area of slope management. Japanese experts will also help the Philippines “enhance (its) capability to establish hazard maps for road disaster risk reduction and improve… road disaster information management,” the department said […]

Supermarkets facing higher costs even as revenues rise

SUPERMARKETS are dealing with higher operating costs as pandemic restrictions ease, with an industry official saying that the pickup in sales is sometimes not reflected in the resulting profits, especially for smaller stores. Steven T. Cua, Philippine Amalgamated Supermarkets Association, Inc., president, told BusinessWorld Live on One News channel that supermarkets are still adapting to […]

Trade deficit balloons to $29.8B in first half

The Philippines’ balance of trade deficit in the first half widened slightly more than initially reported due to higher import bill, latest data from the Philippine Statistics Authority (PSA) showed. The trade deficit stood at $29.819 billion in the first semester, slightly higher than the $29.793 billion the agency reported previously. This deficit was also […]

Business restructuring at arm’s length

“It is not the strongest or the most intelligent who will survive but those who can best manage change.” This warning by Charles Darwin sends a clear message. With the world evolving so rapidly, we have to be quick to adapt. In business, it has become a necessity for multinational enterprises (MNEs) to adjust to […]

Four Philippine regions placed under calamity state

PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday placed four Philippine regions under a state of calamity after Typhoon Nalgae (Paeng) caused severe floods, killing more than a hundred people. Covered by the six-month state of calamity under Proclamation 84 are Calabarzon, Bicol, Western Visayas and the Bangsamoro Autonomous Region in Muslim Mindanao, where more than […]

Philippines scraps pre-departure virus testing for travelers

PRESIDENT Ferdinand R. Marcos, Jr. has approved a pandemic task force recommendation to ease quarantine rules for foreigners and Filipinos entering the country, as it seeks to boost tourism recovery.  Fully vaccinated inbound travelers, whether Filipinos of foreigners, will no longer undergo pre-departure testing for the coronavirus, according to a government memo. Unvaccinated or partially […]

Solon recommends creation of food security cluster 

PRESIDENT Ferdinand R. Marcos, Jr. should compose a food security cluster within his Cabinet to address hunger risks in the country, a lawmaker said on Wednesday.   “There are areas with food security that are beyond the mandate of the Department of Agriculture, which President Marcos heads,” Albay Rep. Jose Maria Clemente S. Salceda said in […]

Isuzu Philippines relaunches Pagbilao dealership

ISUZUPHIL.COM ISUZU Philippines Corp. and MBT Autoworx Corp. relaunched the car dealership in Pagbilao, Quezon on Oct. 28 as part of improving service to customers.     The completed first phase of renovation for the 11,000 square meter Isuzu Pagbilao features a revamped showroom and service fascia, tower signage, and sales reception area that conforms to the […]

Cautious trade seen ahead of Fed meet, inflation

PHILIPPINE STOCKS will be range-bound as trading resumes this week ahead of the release of October inflation data and the US Federal Reserve’s policy meeting. On Friday, the benchmark Philippine Stock Exchange index (PSEi) went down by 77.15 points or 1.23% to finish at 6,153.43, while the broader all shares index declined by 25.09 points […]