MANILA — Department of Trade and Industry (DTI) Secretary Ramon Lopez has welcomed the record-high export revenue of the country in 2019. In a statement Tuesday, Lopez said the USD70-billion export revenue last year reflects the success of the government to expand productive capacity and export base to withstand external headwinds. “Our goal was to … Read More
MANILA – Finance Secretary Carlos Dominguez III on Tuesday said authorities are hopeful for the achievement of A-level credit ratings for the Philippines, citing its impact on investments, domestic expansion, and job creation. In a Viber message to journalists in reaction to Fitch Rating’s revision of its outlook on the Philippines’ ‘BBB’ credit rating from … Read More
LINGAYEN, Pangasinan — The Aboitiz Power Corporation (AboitizPower) plans to construct a 975-megawatt (MW) solar and wind energy facilities in Aguilar, Bugallon, and San Manuel towns in the province. Aboitiz Power Corp. senior vice president for operations and maintenance Chris Faelnar said residents of these towns and Labrador, Mangatarem, Infanta, and Mabini towns will benefit from … Read More
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) term facilities fell across-the-board Wednesday due to oversubscription. Data released by the central bank showed that rate of the seven-day facility dropped to 4.0301 percent from 4.0851 percent during the auction last January 15. The central bank offered this tenor for PHP80 billion this week, higher … Read More
MANILA — The Philippine peso trekked back to the 50-level against the US dollar Wednesday after the country again successfully issued Euro-denominated bond, while the Philippine Stock Exchange index (PSEi) recovered even amid concerns on the latest coronavirus strain from China. The local currency ended the day’s trade at 50.91 from 51.015 a day ago, which … Read More
BAGUIO CITY — The Cordillera Administrative Region (CAR) is getting a PHP20.612-billion budget for infrastructure projects this year, an official of the Department of Public Works and Highways said. Engr. Clifton Valencerina, chief of the Construction Division of the Department of Public Works and Highways (DPWH) in CAR said on Tuesday the asset preservation, which includes … Read More
LINGAYEN, Pangasinan — Construction work remains the most in-demand jobs in Pangasinan due to the ‘Build, Build, Build” infrastructure development program of the national government, the Public Employment Services Office (PESO) said. In a forum Tuesday, Pangasinan PESO manager Alex Ferrer said there is still shortage of skilled construction workers in the province as the demand … Read More
TACLOBAN CITY — The central government will need over PHP300 billion to build a long span bridge linking Allen, Northern Samar and Matnog, Sorsogon, the National Economic Development Authority (NEDA) said on Tuesday, citing the newly-completed feasibility study. The study has identified two feasible options to construct Sorsogon-Samar Link Bridge. The first is the construction of … Read More
MANILA — Oil companies have announced they will slash their prices this week. Shell, Seaoil, and Petro Gazz said Sunday they will cut prices of diesel by PHP0.20 per liter. Only Shell said it will roll back prices of kerosene by PHP0.30 per liter. There is no price adjustment expected for gasoline this week. Kris Crismundo … Read More
LA TRINIDAD, Benguet— This capital town of Benguet and Sablan town will jointly host a 20-megawatt hydroelectric power plant expected to be operational 20 months after it starts construction in March. La Trinidad will host the weir (low head dam) while the power plant will be in Sablan. Cris Faelnar, senior vice president of Aboitiz … Read More
LAOAG CITY—The province of Ilocos Norte has softened its bid to fully implement the requirements quarry permittees have to comply with to extract sand and gravel in its waterways. For a period of six months, or from January 1 to June 30, 2020, both the local executive and legislative departments decided to suspend the imposition … Read More
NEW DELHI — Financial markets across Asia witnessed a sharp decline on Wednesday after Iran launched a missile attack on US forces in Iraq as investors fear the conflict may escalate further. As Iran carried out missile strikes on US military targets in Iraq in Wednesday, Japan’s Nikkei went down by 1.4 percent while Singapore’s Straits … Read More
MANILA — Oil companies have announced their first price adjustments for 2020 that will take effect at 6 a.m. on Tuesday. In separate advisories, Seaoil, PTT Philippines and Flying V said price of their respective gasoline products will decline by PHP0.10 per liter, while price of diesel will increase by PHP0.40 per liter. Seaoil and Flying … Read More
MANILA — Geopolitical concerns on the Middle East continue to worry investors, resulting in the weakness of Philippine equities index but the peso was able to stay firm against the US dollar. The local currency finished the week’s first trading day at 50.93 from 51.09 close at the end of last week, which a trader pointed … Read More
MANILA — Anti-Red Tape Authority (ARTA) Director General Jeremiah Belgica has called on local government units (LGUs) to ensure efficient and fast processing of business registrations and renewals. Belgica said some LGUs still ask for redundant requirements for business registrations and renewals despite the implementation of Ease of Doing Business (EODB) law. Business registration renewals are … Read More
CEBU CITY — The Mactan-Cebu International Airport will have a direct service from Taoyuan International Airport in Taipei, Taiwan starting on March 29, 2020. Avigael Ratcliffe, corporate communications junior manager of GMR Megawide Cebu Airport Corporation (GMCAC), said that China Airlines is all set to launch the six direct flights to Cebu every week. She said … Read More