PHILIPPINE STOCKS declined on Thursday after a three-day climb on profit taking and after the world’s major oil-producing countries agreed to cut output, which may affect inflation. The Philippine Stock Exchange index (PSEi) went down by 54.32 points or 0.9% to close at 5,934.27 on Thursday, while the broader all shares lost 20.19 points or […]
Tag: million
Low-cost housing target set at 1M units/year
THE Department of Human Settlements and Urban Development (DHSUD) said it hopes to augment the affordable housing stock by 1 million homes a year, including those built by the private sector. The target was set to address the housing backlog, estimated at 6.5 million homes, the department said. Secretary Jose Rizalino L. Acuzar said on […]
USDA raises PHL rice import forecast to 3.4 million MT
PHILIPPINE rice imports are expected to rise to 3.4 million metric tons (MT) in the July 2022-June 2023 period, the US Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said, upgrading its previous forecast of 3.3 million MT. “Rice is a highly political crop in the Philippines, and supply sufficiency is very important for the […]
Daily coronavirus infections likely to stay at 2,000
By Alyssa Nicole O. Tan, Reporter DAILY coronavirus infections in the Philippines would probably stay at 2,000 for the rest of the year, according to a health expert, noting that the pandemic is far from over. “The number of cases will hover around 2,000,” Jomar R. Rabajante, a researcher from the University of the Philippines […]
Typhoon Karding agricultural damage assessment continues to rise, now at P3.12B
DAMAGE to the agricultural sector due to Super Typhoon Karding, with international name Noru, has risen to P3.12 billion as of Monday, according to the latest bulletin by the Department of Agriculture (DA). The volume of production loss was estimated at 158,117 metric tons (MT) with 170,762 hectares of farm lands and 108,594 farmers and […]
GCash serves 1M borrowers, disburses P40B in loans
GCash continues to work on making financial services accessible, affordable, and easy to understand by the masses by disrupting traditional banking. For one, it has made borrowing more attainable for Filipinos in need of financial support as many recover from the impact of the pandemic. It has disbursed more than P40 billion worth of loans […]
Farm damage from typhoon estimated at P2.02 billion
AGRICULTURAL damage caused by Typhoon Karding (international name: Noru) has hit P2.02 billion, the Department of Agriculture said. The storm damaged an estimated 150,693 hectares of farmland and affected over 91,944 farmers and fisherfolk, resulting in lost production of 117,663 metric tons. Damage and losses were reported in the Cordillera Administrative Region, Ilocos, the Cagayan […]
Mindanao agencies appeal significant slash in proposed budgets
GOVERNMENT AGENCIES involved in the development of Mindanao, the southern islands in the Philippines, on Wednesday asked the Senate for more funding as their proposed budgets for 2023 were slashed by more than 50%. The Mindanao Development Authority (MinDA), which formulates and coordinates development plans, has been allocated P158.958 million under the 2023 National Expenditure […]
SNS Network Technology Posts 42.4% Rise in Net Profit for 2Q FY2023
IPOH, Malaysia, Sep 27, 2022 – (ACN Newswire via SEAPRWire.com) – SNS Network Technology Berhad (SNS), an ICT system and solutions provider, today announced that the Group registered a 19.7% rise in revenue to RM296.93 million for the second quarter ended 31 July 2022 (2Q FY2023) compared with RM248.16 million in the immediately preceding quarter […]
Agricultural damage from Super Typhoon Karding hits P1.29B with main rice growers affected
By Luisa Maria Jacinta C. Jocson, Reporter THE RUNNING tally on agricultural damage from Super Typhoon Karding has climbed to P1.29 billion, according to the Department of Agriculture (DA), with major rice producing provinces among those affected by flooding. Damage and losses were initially reported in the regions of Cordillera, Ilocos, Cagayan Valley, Central Luzon, […]
Typhoon damage to farms initially estimated at P141.38 million
THE damage caused by Super Typhoon Karding (international name: Noru) to the agriculture industry has been initially estimated at P141.38 million, which is expected to rise, the Department of Agriculture (DA) said. In its bulletin issued midday Monday, the DA said the typhoon affected 16,229 hectares of farmland and 740 farmers and fisherfolk, leading to […]
Editorial: Favor frugality
Vice President Sara Duterte must tell her allies in the House of Representatives to either not grant her office and the Department of Education (DepEd) a total of P650 million in confidential funds or reduce the funds significantly.Officials must be frugal and wise in spending public money these days.Duterte knows that the Philippine economy is […]
PSE index slips ahead of Fed, BSP policy meetings
THE benchmark index slipped to the 6,500 level on Thursday on profit taking and cautious trading ahead of central bank meetings next week and the rebalancing of Financial Times Stock Exchange (FTSE) on Friday. The Philippine Stock Exchange index (PSEi) inched down by 7.19 points or 0.1% to close at 6,575.67 on Thursday, while the […]
Funding for onion farmers at P100 million
THE Department of Agriculture (DA) said it has earmarked more than P100 million to help onion farmers acquire inputs and production facilities. Funding levels for the industry in 2022 so far include P47.48 million for seed, seedlings and fertilizer, P35.67 million for production and post-harvest facilities, irrigation network services, and farm production machinery and equipment, […]
PH FDI net inflows in June drop by more than half to $471 million
THE Philippines recorded $471 million in net inflows of foreign direct investments (FDI) in June, the Bangko Sentral ng Pilipinas reported on Monday.June’s FDI net inflows went down 51.5 percent from the $971 million net inflows posted in June 2021, the central bank said in a statement.“In June 2022, FDI net inflows declined following the […]
Jobless rate eases to 5.2% in July
THE PHILIPPINES’ unemployment rate in July dropped to its lowest since the onset of the coronavirus disease 2019 (COVID-19) pandemic. Preliminary data from Philippine Statistics Authority (PSA) showed the unemployment rate — or the share of the unemployed Filipinos to the total labor force — fell to 5.2% in July, improving from 6% in June […]
Unemployment rate eases in July but underemployment rate climbs
THE Philippine Statistics Authority reported on Thursday there were fewer jobless Filipinos in July this year as the unemployment rate declined while the employment rate improved.However, the number of underemployed workers also rose.The PSA said the unemployment rate declined to 5.2 percent in July, which is equivalent to 2.6 million jobless Filipinos. This was an […]
GOCC subsidies rise 398.78% in July
SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) rose 398.78% year on year to P30.321 billion in July, the Bureau of the Treasury (BTr) reported. Budgetary support to GOCCs also rose 145.95% compared to the June total. Subsidies amounted to P75.01 billion in the first seven months, according to preliminary data from the BTr. Subsidies […]
Samaiden Group Posts 182% Jump in Full-Year Revenue
PETALING JAYA, Malaysia, Sep 2, 2022 – (ACN Newswire via SEAPRWire.com) – Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants today announced that for the fourth quarter ended 30 June 2022 (4Q FY2022), revenue increased 113.35% to RM53.68 […]
MeiDong Auto (1268.HK) Announces 2022 Interim Results; 7 Newly-acquired Porsche Stores Showed Promising Synergies; Interim Dividend of RMB0.0808 per Share
EQS Newswire / 30/08/2022 / 21:07 UTC+8 China MeiDong Auto Holdings Limited (Incorporated in the Cayman Islands with limited liabilities) (Stock code: 1268.HK) Announces 2022 Interim Results Maintained High Operating Efficiency Despite Difficult Market Conditions 7 Newly-acquired Porsche Stores Showed Promising Synergies* * * Revenue Increased by 7.2% to RMB12,658.4 million Gross Profit […]