PHILIPPINE shares closed in the green on Monday as investors went bargain hunting after posting days of losses, despite the extension of the enhanced community quarantine (ECQ) in Metro Manila and the provinces of Bulacan, Cavite, Laguna, and Rizal due to the surging number of coronavirus disease 2019 (COVID-19) infections. The benchmark Philippine Stock Exchange […]
Category: Hot News
New lockdown displaces nearly 8,000 workers, Labor dep’t says
NEARLY 8,000 workers were displaced during the first week of the reimposed lockdown in Metro Manila and adjacent provinces, the Labor department said. At a virtual briefing of the Department of Labor and Employment (DoLE) Monday, Assistant Secretary Dominique R. Tutay said the estimate was made in the first few days of the enhanced community […]
Rehab, expansion of General Santos airport seen completed by Q2
THE DEPARTMENT of Transportation said the P1.39-billion airport rehabilitation and expansion project in General Santos City is expected to be completed in the second quarter. The airport project, which is funded by the government from the General Appropriations Act, is due for completion in “Q2 2021,” the department said on its website. The project, which […]
Meat imports up 21% in first quarter after surge in pork shipments
MEAT IMPORTS in the first quarter rose 21% from a year earlier to 243,108.89 metric tons (MT), the Bureau of Animal Industry (BAI) said. In a report, BAI said meat imports rose due to increased volumes for pork, beef, buffalo meat, and turkey. Lower import volumes were recorded for chicken, duck, and lamb. Pork imports […]
Mobile internet speed dips in March — Ookla
THE PERFORMANCE of the Philippine mobile network declined in March, with an average download speed of 25.43 megabits per second (Mbps) from 26.24 Mbps recorded in February, according to the Speedtest Global Index, compiled by US internet testing and analysis company Ookla. Fixed broadband posted an average download speed of 46.25 Mbps in March, up […]
March Customs collections beat target on strong performance by provincial ports
TAX COLLECTIONS by the Bureau of Customs (BoC) in March totaled P54.5 billion, beating the bureau’s target due to stronger-than-expected collections by ports in the provinces. March collections beat the target by 14.2%. They also exceeded year-earlier levels by 22.1%. The 2020 lockdown began in mid-March that year. “The BoC’s positive revenue collection performance is […]
PHL seeking aerospace, electronics deals with France
THE GOVERNMENT is pursuing trade and investment deals in aerospace, electronics, and shipbuilding with France, the Department of Trade and Industry (DTI) said. The DTI held an online meeting with newly-appointed French Ambassador to the Philippines Michèle Boccoz on March 31, during which the parties also discussed trade and investment in clean energy, agribusiness, and […]
Gov’t collects P210.63 billion from marked fuel
THE GOVERNMENT has collected P210.63 billion from marked fuel since the marking program was launched in 2019, according to the Department of Finance (DoF). On Monday, the DoF said that the Bureau of Customs generated P182.926 billion worth of duties and taxes between September 2019 and March 25, 2021 from marked fuel, which is injected […]
Agri dep’t backs farm road spending in third stimulus bill
THE DEPARTMENT of Agriculture said Monday that it supports proposed spending on Farm-to-Market Roads (FMR), which are a component of the bill that could become the third economic stimulus package. At a House hearing, Agriculture Secretary William D. Dar said it supports funding to boost its own FMR programs in the north of Luzon under […]
Carmakers produced less than half of CARS volume
CAR companies participating in a government incentives program to support domestic parts production have manufactured less than half of the required volume so far. Toyota Motor Philippines Corp. and Mitsubishi Motors Philippines Corp. are participating in the Comprehensive Automotive Resurgence Strategy (CARS) program, which offers fiscal support to car companies that produce in the Philippines […]
EU, US fashion retailers bet bras with wires and a splash of color will sell this spring
LISBON/CHICAGO — After a year of nesting in pastel-colored loungewear, shoppers are opting for styles with floral prints, feel-good slogans, and statement jewelry to jazz up working-from-home outfits as optimism makes a comeback in spring collections, designers and retailers told Reuters. While neutral, comfortable clothing remains more popular than in a normal spring, retailers from […]
Bank for OFWs gets MB’s first digital banking license
THE OVERSEAS Filipino Bank (OFBank) obtained a digital banking license from the Monetary Board (MB) on March 25, making it the first official digital-only bank in the country, the Department of Finance (DoF) reported. OFBank started its operations in June 2020 using its existing license to operate as a thrift bank, before receiving the country’s […]
The electric nexus of Lexus
1 of 5 PHOTO FROM LEXUS PHOTO FROM LEXUS PHOTO FROM LEXUS PHOTO FROM LEXUS PHOTO FROM LEXUS How the LF-Z Electrified concept car points to the brand’s future LEXUS is about to experience a global transformation, and the brand gave a rare glimpse of what to expect in this metamorphosis. Since the launch […]
SEC warns public against Align Assets’ unauthorized investment scheme
THE Securities and Exchange Commission (SEC) issued a warning against unlicensed entity Align Assets for offering unauthorized investment schemes. “The advisory is prompted by numerous inquiries from the public who would like to know whether or not an entity called Align Assets is registered with this commission and whether or not Align Assets has a […]
An alternative to ‘no alternative’: How bonds snuck up on stocks
REUTERS A COMMON narrative in markets is that with global rates so low, equities are the only game in town for investors with an appetite for upside. But after the worst selloff in Treasuries since 1980, the edge for stocks is starting to dull. While yields are still low relative to history, the mantra of […]
John le Carre was so furious with Brexit he got Irish citizenship
JOHN LE CARRE — KRIMIDOEDEL/EN.WIKIPEDIA.ORG LONDON — John le Carre, the British novelist who cast flawed spies onto the bleak chessboard of Cold War rivalry, was so disillusioned by the 2016 Brexit vote to leave the European Union that he secured Irish citizenship shortly before he died. David Cornwell, known to the world as John […]
Dream team
Will this harvest of foreign exotics soon make its way into the country? THE PREVIOUS months may have reflected a significant decrease in overall car sales due to the pandemic, but most car manufacturers have not slowed down in churning out new models to tease the appetite of hopeful motorists. So, what new, innovative cars […]
SOCResources unit to launch second tower of Anuva Residences
By Keren Concepcion G. Valmonte THE real estate arm of SOCResources, Inc., SOC Land Development Corp., plans to launch and begin constructing the second tower of its four-tower condominium project in Muntinlupa CIty. “We did very well the moment the [quarantine] restrictions were lifted, that is why our second tower is 70% sold,” Edgardo P. […]
Farmers pushing for more say in coco levy benefits distribution
COCONUT FARMERS need to play a bigger role in determining the distribution of benefits resulting from Republic Act No. 11524 or the Coconut Farmers and Industry Trust Fund Act, an agricultural organization said. The Federation of Free Farmers (FFF) said in a statement that it proposed the creation of a farmers’ advisory council to advise […]
Duterte extends ECQ in Metro Manila, nearby provinces
Philippine President Rodrigo R. Duterte extended the stringent lockdown enforced in the country’s capital and nearby provinces until April 11, in an attempt to curb a renewed spike in coronavirus infections. The Health department on Saturday reported 12,576 new coronavirus disease 2019 (COVID-19) cases, putting the healthcare system under a further strain. The implementation of […]