THE German-Philippine Chamber of Commerce and Industry (GPCCI) said the prospects are positive for the Philippines in 2023, with German companies targeting Asia as a priority destination. “(GPCCI is) optimistic… Germany is pushing companies to go to Asia and the Philippines is one of the destinations…,” GPCCI Senior Vice-President Marie Antoniette Mariano said in a […]
Category: Hot News
HSBC sees Philippines remaining ‘resilient’ as growth slows to 4.4%
HSBC Holdings PLC said on Thursday that it expects Philippine growth to remain “resilient” even as it slows to 4.4% in 2023. “We think that (the) Philippine economy will slow down but it will still be fairly resilient at around 4.4% for 2023. Of course, inflation is still going to be an issue,” HSBC Southeast Asia […]
ERC cites rate reviews, CSP revision as 2023 priorities
THE Energy Regulatory Commission (ERC) said its 2023 priorities are reviewing distribution utility (DU) and transmission rates, as well as revising the guidelines for the competitive selection process (CSP). ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta said in a Viber message on Thursday that the ERC will work to mitigate expected rate increase […]
Fintech company JustPayto tapped for MSME digital payment system
THE Department of Trade and Industry (DTI) said it signed a partnership deal with financial tech firm JustPayto Philippines Corp. to provide digital payment services to micro, small, and medium enterprises (MSMEs). The DTI said that the partnership with JustPayto, finalized in December, will onboard all interested DTI-registered businesses into the fintech’s platform. “We […]
Stocks rise on slower-than-expected inflation
STOCKS continued to rally on Thursday as December inflation came in below market expectations despite picking up from the November level. The 30-member Philippine Stock Exchange index (PSEi) went up by 42.83 points or 0.63% to close at 6,761.33 on Thursday, while the broader all shares index added 13.38 points or 0.37% to end at […]
Peso rebounds on Dec. inflation data, Fed minutes
THE PESO rebounded against the dollar on Thursday on slower-than-expected December inflation and following the release of the minutes of the US central bank’s meeting last month. The local currency closed at P55.75 versus the greenback, up by 16 centavos from Wednesday’s finish of P55.91, data from the Bankers Association of the Philippines showed. The […]
Marcos: China wants compromise to ease South China Sea tensions
By Kyle Aristophere T. Atienza and Alyssa Nicole O. Tan, Reporters CHINESE President Xi Jinping has vowed to “find a compromise” to ease tensions in the South China Sea, President Ferdinand R. Marcos, Jr. said on Wednesday after meeting with the Chinese leader in Beijing. In a video released by the presidential palace in Manila, […]
Philippine police chief quits amid call to rid ranks of drug scalawags
By John Victor D. Ordoñez, Reporter THE PHILIPPINES’ national police chief on Thursday quit his job after a call for hundreds of high-ranking police officers to resign and help cleanse their ranks of the “deep infection” of the illegal drug trade. Philippine National Police (PNP) Director General Rodolfo Azurin, Jr. submitted his resignation letter to […]
Cops in drug trade an ‘open secret’ — Barbers
THE INVOLVEMENT of some law enforcers in the illegal drug trade has been an “open secret,” said Surigao del Norte Rep. Robert Ace S. Barbers as he expressed support to the Department of Interior and Local Government (DILG) chief’s strategy of asking top-ranking police officers to file a courtesy resignation while an investigation is carried […]
Solons seek probe on possible ‘manipulation’ in onion market price
A GROUP of opposition lawmakers on Thursday called for an investigation on the “potential overpricing and price manipulation” of onions in the market. Gabriela Party-list Rep. Arlene D. Brosas led the filing of House Resolution 673, which asks the House committee on agriculture and food to conduct a probe on the issue. “Despite the low […]
Brooke’s Point, Palawan flooded anew; almost 2,000 families evacuated
ALMOST 2,000 families in Brooke’s Point, still reeling from flash floods due to rains in late December, have been evacuated as of Thursday morning due to renewed flooding triggered by strong downpour from a low pressure area. The town, located in the southern part of Palawan, was declared under a month-long state of calamity on […]
10 Iloilo towns declared ASF red zones
TEN towns in Iloilo province are now marked as red zones for African Swine Fever (ASF), with the addition of Banate on Jan. 4. Iloilo Gov. Arthur R. Defensor, Jr., in an executive order released on Thursday, directed the inclusion of the municipality of Banate in ongoing containment measures against the viral disease that kills […]
Foodpanda mum on next legal step as it awaits confirmation of NLRC decision favoring riders
ONLINE delivery service provider foodpanda Philippines on Thursday said it is still awaiting “formal notification” on its appeal on a National Labor Relations Commission (NLRC) decision in favor of delivery riders who were suspended in 2021. “We have filed an appeal with the NLRC regarding their June 2022 Decision, and the complainants have yet to […]
PHL chess team top Hong Kong Bauhinia U18 Chess Invitational
THE PHILIPPINES chess team earned a major victory at the recently concluded Hong Kong Bauhinia U18 Chess Invitational, finishing as champion in the team competition (main event). The team is composed of Mark Jay Bacojo, Ayana Nicole Usman and Alexandra Sydney Paez. The Philippines’ strong performance is a testament to the hard work and dedication […]
Gin Kings eye 3-1 advantage in Commissioner’s Cup finals
Game Today (MOA Arena) 5:45 p.m. — Bay Area vs Barangay Ginebra * Ginebra leads series, 2-1 THIS is probably the best time for Barangay Ginebra to get its uber-tough PBA Commissioner’s Cup finals rival Bay Area in a 3-1 chokehold. The Gin Kings are on a high after pulling off that 89-82 go-ahead victory […]
Eala in Melbourne for 2023 Australian Open qualifier
ALEX Eala wasted no time hitting the ground running in the Land Down Under in preparation for a historic qualifying stint in the 2023 Australian Open. Hours after landing in Melbourne, the Filipina teen sensation tested her swings right away with hopes of perfecting her game for her debut in the women’s Grand Slam singles […]
ABAP fields a lean, mean team to ASBC Asian U-22 Championship
THE ASSOCIATION of Boxing Alliances in the Philippines (ABAP) will break in its talented young pugs as it fields in a lean but mean team to the ASBC Asian Under-22 Championships set Jan. 16 to 27 in Bangkok, Thailand. Heading the cast is Mark Lester Durens, one of the country’s brightest hopes to take over […]
PSEi up as factory activity hits 6-month high
PHILIPPINE SHARES continued to rise on Wednesday as local manufacturing activity improved in December, indicating a robust economy. The bellwether Philippine Stock Exchange index (PSEi) surged by 132.49 points or 2.01% to close at 6,718.50 on Wednesday, while the broader all shares index rose by 60.37 points or 1.73% to 3,537.07. “Stocks moved higher as […]
Air traffic regulator ordered to explain New Year’s glitch
THE GOVERNANCE Commission for Government-Owned or -Controlled Corporations (GCG) on Wednesday ordered the Civil Aviation Authority of the Philippines (CAAP) to submit a report on the air traffic management glitch that led to thousands of canceled flights on Jan. 1. In a statement, the body that serves as the central advisory, oversight and monitoring body […]
Marcos vows to improve economic ties with China
PHILIPPINE President Ferdinand R. Marcos, Jr. on Wednesday vowed to improve ties with China and explore more areas of economic cooperation in the post-coronavirus pandemic era. Mr. Marcos made the commitment at a meeting with Li Zhanshu, chairman of the Standing Committee of the National People’s Congress, which is equivalent to the Philippine Legislature. During […]