By Joann Santiago MANILA, Sept. 7 (PNA) — The Philippine peso closed Monday at 46.92, its weakest to a dollar since June 2010 on back of expectations for a hike in the…
Category: Business & Economy
Seaoil, Eastern Petroleum Corp. to hike gasoline and diesel prices Tuesday
By Juzel L. Danganan MANILA, Sept. 7 (PNA) — Seaoil Philippines Inc. (SPI) and Eastern Petroleum Corp. will hike prices of its gasoline and diesel products effective Tuesday. SPI said in an…
Meralco power bills plunges by PhP0.57 per kWh
By Juzel L. Danganan MANILA, Sept. 7 (PNA) — The Manila Electric Company (Meralco) on Monday announced a PhP0.57 centavos per kilowatt-hour decrease of its power rate due to a reduction in…
SBMA net income doubles to Php 687 M
SUBIC BAY FREEPORT, Sept. 7 (PNA) — After hitting record highs in financial performance for three consecutive years, the Subic Bay Metropolitan Authority (SBMA) has reported another 104-percent hike in net income…
PSEi falls for 2nd day
MANILA, Sept.7 (PNA) — The benchmark Philippine Stock Exchange index (PSEi) returned to the 6,900 mark on Monday as the market tracked developments in the United States and Europe after China’s revision…
DOT XII exec: Sox expects 2.9-M tourist arrivals this year
By Azer N. Parrocha MANILA, Sept. 5 (PNA) — The local government of Soccskargen (Region XII) is confident that the number of tourists visiting the region will reach if not exceed its…
DTI presents PhP6.3-B budget for 2016
By Kris M. Crismundo MANILA, Sept. 6 (PNA) — The Department of Trade and Industry (DTI) has introduced a budget of PhP6.319 billion in the 2016 National Expenditure Program (NEP). DTI Secretary…
Taiwan’s trade promotion group wants world’s largest footwear producer in PHL
By Kris M. Crismundo MANILA, Sept 6 (PNA) — The Taiwan External Trade Development Council (TAITRA) in Manila eyes the world’s largest footwear manufacturer to enter in the Philippine market, TAITRA Director…
Construction of giant SM City Legazpi mall starts next month—mayor Rosal
By Danny O. Calleja LEGAZPI CITY, Sept. 6 (PNA) — SM Prime Holdings, one of the country’s premier shopping management firm, will break ground of a sprawling property at the heart of…
BPI books PHP11B in housing, auto, business loans in Cebu, Visayas
CEBU CITY, Sept. 6 (PNA) — The Bank of the Philippine Islands (BPI) has booked P11 billion in housing, auto and business loans for Cebu and some areas in the Visayas this…
DOT 7 exec says Cebu emerging as cruise ships hub
CEBU CITY, Sept. 6 (PNA) — Cebu is emerging as the next hub for international cruise ships, a tourism official said. Department of Tourism (DOT) 7 Director Rowena Montecillo said Cebu welcomed…
Inflation dips to all-time low of 0.6% in August
By Leslie D. Venzon MANILA, Sept. 4 (PNA) — Lower food and energy and oil rates further pulled down Philippine inflation rate to its new lowest level in August, bringing average inflation…
Barclays eyes cut in PHL banks’ RR rates
MANILA, Sept. 4 (PNA) — London-based Barclays raised the possibility of cut in Philippine banks’ reserve requirements (RR) after the Bangko Sentral ng Pilipinas (BSP) said it it monitoring domestic liquidity conditions…
Max’s Group’s Sizzlin’ Steak brand to enter Vietnam
MANILA, Sept. 4 (PNA) — Listed casual dining firm Max’s Group, Inc. (MGI) is set to make maiden entry of its homegrown brand, Sizzlin’ Steak, into Vietnam. MGI recently signed a development…
PhilHealth taps PLDT Alpha enterprise to enhance existing communication links
MANILA, Sept. 4 (PNA) — The Philippine Health Insurance Corp. (PhilHealth) recently tapped a telecommunications company to enhance the existing connectivity of all its offices. At present, 24 Regional and Local Health…