Remittances hit $36.14B in 2022

MONEY sent home by overseas Filipinos reached an all-time high of US$36.14 billion. This level was 3.6 percent higher than the $34.88 billion remittance flows in 2021. “The robust inward remittances reflected the increasing demand for foreign workers amid the reopening of economies,” said the Bangko Sentral ng Pilipinas. The full-year 2022 level accounted for […]

Peso drops ahead of US CPI report

THE PESO weakened against the dollar on Tuesday as the market was cautious ahead of the release of the January US consumer price index (CPI) report overnight. The local currency closed at P54.83 versus the greenback on Tuesday, declining by seven centavos from Monday’s P54.76 finish, Bankers Association of the Philippines data showed. The peso […]

SCIB Terminates Indonesian Project

KUCHING, MALAYSIA, Feb 14, 2023 – (ACN Newswire via – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company’s wholly-owned subsidiary, SCIB International (Labuan) Ltd. (SCIBILL), has issued a notice of termination to PT Cipta Multi Sarana (PTCMS) for the proposed engineering, procurement, construction and commissioning (EPCC) project involving earthworks […]

ASEAN trade show generates over P100M in sales leads for Philippine tourism industry

THE Tourism Promotions Board (TPB) said a regional trade show generated over P100 million in sales leads for 16 exhibitors from the Philippine tourism industry. The TPB, the marketing arm of the Department of Tourism (DoT), was reporting the result of Philippine participation in the ASEAN Tourism Forum. In a statement on Monday, the TPB […]

8 Filipino trafficking victims rescued from Myanmar 

EIGHT FILIPINOS have returned to the Philippines after being rescued from a trafficking scheme in Myanmar, the Department of Foreign Affairs (DFA) said on Monday.   Among the eight, four males were recruited online from Dubai to supposedly work as customer support representatives in Thailand. Instead, they were brought to Myanmar and forced to scam individuals […]

Over 5K in Central Visayas receive livelihood aid from Dole

THE Department of Labor and Employment (Dole) 7 provided livelihood assistance to over 5,000 individuals in 2022, up 56 percent from the 3,618 beneficiaries it assisted in 2021. Last year’s 5,629 beneficiaries received a total of P78.8 million worth of livelihood assistance from the labor department. Cebu Province topped the list with 1,916 beneficiaries benefitting […]

Peso climbs further as dollar weakens amid slowdown fears

THE PESO strengthened on Thursday amid broad dollar weakness due to concerns over the health of the world’s largest economy. The local currency closed at P54.45 versus the greenback on Thursday, appreciating by 35 centavos from Wednesday’s P54.80 finish, data from the Bankers Association of the Philippines showed. The peso opened Thursday’s trading session slightly […]

Peso tumbles to P55-per-dollar level as headline inflation surges in Jan.

THE PESO sank to the P55-per-dollar level on Tuesday as January headline inflation was faster than expected and amid hawkish signals from the US Federal Reserve. The local currency closed at P55.085 versus the greenback on Tuesday, declining by 69.5 centavos from Monday’s P54.39 finish, data from the Bankers Association of the Philippines showed. The […]

Gov’t investment target from Japan trip P150B

THE PHILIPPINES is expected to obtain P150 billion in investment pledges during President Ferdinand R. Marcos, Jr.’s official visit to Japan. “We are expecting that substantial returns in terms of new projects, the value of which we currently estimate at P150 billion, and we estimate too these will generate employment for 8,000 Filipinos,” Philippine Ambassador […]

Mitsubishi Heavy Industries Achieves YoY Increases in Order Intake, Revenue, Business Profit, and Net Income in Third Quarter

TOKYO, Feb 7, 2023 – (JCN Newswire via – Mitsubishi Heavy Industries (TSE Code: 7011) announced that order intake rose 19.0% year-over-year to YEN2,966.1 billion in the third quarter ended December 31, 2022. Revenue rose 11.1% to YEN2,938.0 billion year-over-year, resulting in business profit of YEN105.2 billion, a 30.3% increase from the previous fiscal […]