THE Department of Environment and Natural Resources (DENR) said metallic minerals production for the second half of the year is continue the sector’s strong performance in the third quarter. “It’s very promising as you know for this year. We don’t have the exact figures for the final semester yet but in the first semester, we […]
Tag: prices
Semirara sees ‘difficult’ year for power in 2023, relief from LNG imports to depend on price
ISIDRO A. CONSUNJI, chairman and executive officer of Semirara Mining and Power Corp., said in a briefing on Friday that he expects power prices to continue rising next year, with any relief to be provided gas imports, which will start arriving in significant volumes in 2024, to depend on how high gas prices will be. […]
Peso up on easing oil prices
THE PESO strengthened versus the dollar on Monday after global oil prices eased, erasing all gains posted since the start of the Russia-Ukraine war. The local unit closed at P56.64 against the greenback on Monday, stronger by three centavos from its P56.67 finish on Friday, data from the Bankers Association of the Philippines showed. The […]
Prices of building materials jump in October
WHOLESALE and retail prices of construction materials continued to rise in the National Capital Region (NCR) in October, as economic activity picked up. Preliminary data from the Philippine Statistics Authority (PSA) showed wholesale prices of construction materials in NCR jumped by 11% year on year in October, the fastest since the revised 10.5% growth in […]
Party-list rep seeks urgent certification on bills to lower fuel prices
A PARTY-LIST representative on Monday called on President Ferdinand R. Marcos, Jr. to certify as urgent several bills that lower oil prices to help consumers burdened by inflation. An urgent certification from the president means these bills can be fast-tracked by being passed on third reading immediately after the second reading. “Malacañang and the legislative […]
Inflation surges to near 14 year-high in October
By Keisha B. Ta-asan, Reporter Annual inflation quickened to its fastest pace in almost 14 years in October, as food prices soared due to the impact of recent typhoons, the Philippine Statistics Authority (PSA) said. Preliminary PSA data showed headline inflation accelerated to 7.7% in October, from 6.9% in September and 4% in October 2021. […]
Canneries urged to pay fair prices to municipal fisherfolk
THE canning industry needs to pay fair prices to the municipal fisherfolk keeping their factories supplied during the closed fishing season, an association of small fishermen said. The Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (PAMALAKAYA said the price paid to fisherfolk for herring (tamban) used by the canneries should be about 70% of the […]
Affluent splash out on pricey Birkin bags but clouds loom
PARIS — Brushing off higher prices, affluent spenders continue to splash out on luxuries including $10,000 handbags and premium drinks, updates from Birkin bag maker Hermes and spirits company Pernod Ricard showed on Thursday. Yet with prices set to rise further, analysts were asking how long the boom can last before even the wealthy decide […]
High fuel prices seen dampening fisheries output in fourth quarter
FISHERIES production in the fourth quarter is expected to suffer due to high fuel prices, which prevented many fisherfolk from heading out to sea, an association of small fishermen said. The Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (PAMALAKAYA) said in a statement on Tuesday that its members are also taking on other jobs because […]
Price cap set for red onion at P170/kilo in Metro Manila
THE Department of Agriculture (DA) said it set a suggested retail price (SRP) of P170/kilogram for red onion sold in wet markets in the National Capital Region. “We had a stakeholders’ meeting with our onion farmers, traders, retailers, and we came to the conclusion to create an SRP. We have had this approved. This will […]
Cabaero: Comparing prices
Filipinos are beginning to travel abroad again and, aside from the usual vacation photos, they post prices of goods that show them cheaper than the same items in the Philippines. This online noise is disconcerting as those who have to spend more of their limited resources for the same amount of goods in the Philippines […]
Housing prices up in Q2
HOUSING prices continued to rise in the second quarter of 2022, according to the least report by the Bangko Sentral ng Pilipinas (BSP).The Residential Real Estate Price Index (RREPI) rose by 2.6 percent and 1.6 percent compared with year-ago and quarter-ago levels, respectively. Housing prices recovered from the quarter-on-quarter (QoQ) contraction in the first quarter […]
Rice prices set to rise as high input costs dampen farm output
A RICE shortage is looming if the government does not address rising input costs and low farmer incomes, rice industry analysts and representatives said. “There is a threat that we might be lacking in rice. For us farmers, the first reason is because of low prices of palay (unmilled rice) and high input costs. Because […]
Nearly 1 million people face starvation, UN says
LONDON — Nearly one million people in Afghanistan, Ethiopia, South Sudan, Somalia, and Yemen are starving or will face starvation this year in the absence of aid, as the global food crisis worsens, United Nations (UN) agencies warned. Local conflict and weather extremes remain the primary drivers of acute hunger, aggravated this year by economic […]
Peso strengthens on balance of payments data, lower oil prices
THE PESO strengthened versus the dollar on Monday, amid the narrower balance of payments (BoP) deficit in August and lower oil prices. The local unit closed at P57.40 against the greenback on Monday, stronger by three centavos from its P57.43 finish on Friday, data from the Bankers Association of the Philippines showed. The peso opened […]
Norway to help ease the power price pain for businesses
OSLO – Norway‘s government on Friday presented a long-awaited package of loans and subsidies to reduce the impact of sky-high power prices for businesses, joining other European countries seeking to ease the energy crunch. Governments across the region have been racing to present measures to protect consumers and industry from more expensive energy bills. Read […]
RE firms want reform of competitive selection
RENEWABLE ENERGY (RE) companies asked Congress to reform the competitive selection process, calling it excessively complex and not always awarding contracts to the lowest-cost producer. Ruth P. Briones, chairman and chief executive officer of GreenEnergy Solutions, Inc., said at the Future Energy Philippines forum last week that the complexity of the rules is also a […]
Small retailers hurt by high costs, drinks shortages
HIGH commodity prices, particularly those of sugar, are likely to dampen the performance of small retailers and eateries during the year-end holidays, which are normally a period of strong sales, an industry association said. Gregoria Jaradal, Treasurer the Philippine Association of Stores and Carinderia Owners, Inc., said members are struggling because the prices of their […]
Manila ranks 40th in 45-city Prime Global Cities Index
Manila’s prime residential prices dipped annually by 0.1% in the second quarter of 2022, a reversal of the 10.3% growth in the same period a year ago, latest report from the London-headquartered real estate consultancy firm Knight Frank showed. However, this decline was slower than the 1.5% contraction in the first three months of the […]
Trade dep’t expecting sugar price monitoring report by Friday
THE Department of Trade and Industry (DTI) said it is taking on the additional role of monitoring sugar prices, with reports from the monitors expected to be compiled by Friday. “I expect the report from our monitors all over the country by Aug. 26, Friday,” Trade Secretary Alfredo E. Pascual said on the sidelines of […]