THE PESO fell to an over one-month low against the dollar on Wednesday as latest US consumer inflation data supported worries over further rate increases by the Federal Reserve. The local currency closed at P55.17 versus the greenback on Wednesday, declining by 34 centavos from Tuesday’s P54.83 finish, Bankers Association of the Philippines data showed. […]
Tag: price
IEMOP backs review of secondary price cap amid high fuel prices
THE Independent Electricity Market Operator of the Philippines (IEMOP) said the Energy Regulatory Commission (ERC) needs to review the secondary price cap as market participants grapple with high fuel and power generation costs. “As the market operator we see the merit of the call to review the price cap especially now that fuel prices and […]
AmCham hoping for more regular SRP bulletin releases
THE American Chamber of Commerce of the Philippines (AmCham) said it is counting on the Department of Trade and Industry (DTI) to more regularly publish its updated suggested retail price (SRP) bulletins, following the latest edition issued on Feb. 8. “We have a good working relationship with them (the DTI), so I am certain they […]
BIR clarifies automobile excise tax computation
THE Bureau of Internal Revenue (BIR) has issued a clarification of the method for computing the excise tax on automobiles imported for resale. In a memorandum circular issued on Wednesday, the BIR said the clarification covers cases where an import’s selling price is “lower than the cost of importation and expenses as defined in Revenue […]
ERC reviewing secondary price cap after DoE cites potential to unlock investment
THE Energy Regulatory Commission (ERC) said it is reviewing the secondary price cap after the Energy department said its removal could attract more investment in energy. “The ERC is evaluating the mechanics of the secondary price cap given, on one hand, its clear mitigating impact on rates charged to consumers exposed to WESM (Wholesale Electricity […]
Solon wants to prioritize measure suspending oil excise tax
A LAWMAKER reiterated on Tuesday the need to suspend the oil excise tax amid increasing fuel prices. Camarines Sur Rep. Luis Raymund “LRay” F. Villafuerte called to prioritize the passage of House Bill No. 5176, which seeks to suspend excise tax on “regular gasoline, unleaded premium gasoline, and diesel fuel oil when the average Dubai […]
Globe holds assisted SIM registration in 30 Puregold branches across PHL
To reach more customers across the country, Globe, the leader in Mobile, is opening assisted registration in 30 branches of leading supermarket Puregold as it hopes to cover as many SIM users under its network as possible before the April 26, 2023 deadline. Globe will hold assisted SIM registration from Jan. 27 to 29, 2023, […]
Bantayan growers raise egg prices
POULTRY owners in Bantayan Island have increased the prices of their eggs due to the increase in prices of feeds they purchased from Cebu City. Alan Pastoril, president of the Bantayan Island Layer and Hog Raiser Association Inc. (BILHRA), told SunStar Cebu Wednesday, Jan. 25, 2023, that this is the main reason they imposed another […]
DTI reminds businesses to comply with price freeze in areas under state of calamity
THE DEPARTMENT of Trade and Industry (DTI) reminded businesses in areas under a state of calamity to comply with the price freeze for basic necessities. A total of 86 towns and cities across five regions have declared a state of calamity this month due to flooding and landslides triggered by continuous rains since mid-December, based […]
DA to meet egg producers, traders to discuss price hike
PRESIDENT FERDINAND R. Marcos Jr. has ordered a Department of Agriculture (DA) official to meet with producers and traders to determine the reason behind the spiraling prices of chicken eggs despite a reported sufficient supply, according to Malacañang. “We determined that the increase in the price of eggs is not commensurate with the increase in […]
AmCham presses DTI to ‘regularly’ publish SRP bulletins
THE AMERICAN Chamber of Commerce of the Philippines, Inc. (AmCham) pressed the Department of Trade and Industry (DTI) to publish suggested retail price (SRP) bulletins for basic necessities and prime commodities on a regular basis to help manufacturers manage their operations. AmCham Executive Director Ebb Hinchliffe, in a letter dated Jan. 20 addressed to Trade […]
Growth in November bulk prices eases to nine-month low
GROWTH in the bulk prices of general goods eased to a nine-month low in November as supply stabilized. According to preliminary data from the Philippine Statistics Authority (PSA), the general wholesale price index (GWPI) rose 7.2% year on year in November from 7.6% a month earlier. In November 2021, the GWPI rose 4.2%. The November […]
Government generates P681M in procurement savings
THE GOVERNMENT generated savings of P681.2 million from procurement efficiencies in 2022, up 21.8% from a year earlier, the Department of Budget and Management (DBM) said. “For the past three years, the government has attained significant cost savings through bulk procurement and market price monitoring and validation,” the DBM said in a statement on Tuesday. […]
HSBC Maintains Sirnaomics (2257.HK) at Buy Rating with Target Price of HKD90.00; 61% Upside
EQS Newswire / 16/01/2023 / 17:53 UTC+8 HSBC initiates coverage of Sirnaomics, lowers the target price to HKD90.00 (from HKD118.00) as HKSC raises its discount rate to 9% from 7% for clinical-stage biotechs, considering they are riskier than biopharmas under the current financing environment and as their commercialisation capabilities have not yet been validated. […]
Capitol to MCWD: Comply with agreement to adjust contract price of water
THE Cebu Provincial Government wants the Metropolitan Cebu Water District (MCWD) to comply with the joint investment agreement between the Cebu Manila Water Development (CMWD) Inc., the joint venture firm of the Capitol, regarding the price adjustment of water. During a press conference at the Capitol on Thursday, Jan. 12, 2023, Gov. Gwendolyn Garcia said […]
DA: FTI onion order followed procurement rules
THE Department of Agriculture (DA) said a P537 per kilogram of domestic onion order placed by Food Terminal, Inc. (FTI), a unit of the National Food Authority (NFA), followed procurement rules, amid concerns that it paid inflated prices for the commodity, in turn setting a high benchmark price for resellers. The Office of the Ombudsman […]
Solons call for suspension of water price hike in Metro Manila
OPPOSITION lawmakers filed a joint resolution calling for the suspension of a scheduled increase in water rates in Metro Manila and surrounding areas served by two private concessionaires, citing the need to help consumers cope with inflation. Gabriela Party-list Rep. Arlene D. Brosas led the filing of House Joint Resolution 17, calling on both lower […]
Wholesale goods price growth eases in Oct.
GROWTH in wholesale prices of general goods slowed in October, according to preliminary data from the Philippine Statistics Authority (PSA). The general wholesale price index (GWPI) rose 7.6% year on year, against 8.2% growth posted in September and 3.9% a year earlier. The October reading was the lowest since the 5.6% recorded in February 2022 […]
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 […]
BSP sees Dec. inflation up to 8.6%
HEADLINE INFLATION likely settled within the 7.8% to 8.6% range in December due to higher electricity rates and rising food prices, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. “Upward price pressures for the month are expected to emanate from higher electricity rates, uptick in the prices of agricultural commodities, elevated meat and fish […]