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P15-B worth of foreign retailers’ projects seek DTI registration
Some P15-billion worth of investments from foreign retailers are seeking registration with the Department of Trade and Industry (DTI), but the potential foreign direct investment (FDI) inflow could be multiplied once amendments to the Retail Trade Liberalization Act (RTLA) is passed.
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World Bank sets offshore wind investment mapping for PH
The World Bank Group is crafting an offshore wind investment roadmap for the Philippines, so this could help harness the potential of this resource and will add up to its future power generation capacity.
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DOF thanks Japan’s post-disaster standby loan
The Department of Finance (DOF) thanked the Japanese government for its funding assistance extended to the Philippines that supported its coronavirus response efforts, especially in providing emergency assistance to vulnerable sectors.
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CEB carries 1.78 million vaccine doses across PH
Cebu Pacific (CEB) already flew over 1.78 million COVID-19 vaccines to 15 key domestic provinces since March 2021, with Cebu and Roxas as latest destinations.
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SEC to revoke licenses of erring lending firms
The Securities and Exchange Commission (SEC) threatens to revoke the licenses of lending and financing companies that have yet to register and disclose their online lending platforms (OLP).
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Stocks weaken as PSEi hits resistance
The local stock market dipped as investors are hesitant to bring up share prices while waiting for the outcome of the central bank policy meeting.
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BSP keeps key rate on hold at 2%
The Bangko Sentral ng Pilipinas (BSP) has decided to keep its benchmark overnight rate at two percent during Thursday’s fourth Monetary Board policy meeting for the year because economic recovery remains “tentative” in terms of momentum, said BSP Governor Benjamin E. Diokno.
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PEMC ordered to defer collection of P0.20/kWh WESM charges
The Philippine Electricity Market Corporation (PEMC), which is the governance body overseeing the Wholesale Electricity Spot Market (PEMC), has been ordered to defer the collection of at least P0.20 per kilowatt hour (kWh) adjustment on its net settlement surplus (NSS) charges.
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P/$ rate closes at P48.735/$1
The peso closed higher at P48.735 to the US dollar Thursday, (June 24) from P48.805 the previous day. The weighted average rate depreciated to P48.838 from P48.791. Total volume amounted to $1.005.06 billion according to the Bankers Association of the Philippines.
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Business mourns passing of former President PNoy
Businessmen in the country mourn the passing of former President Benigno S. Aquino III, whose administration they described as a reign of fiscal stability and good governance.
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Purisima cites PH growth under PNoy
Former Finance Secretary Cesar V. Purisima paid tribute to late President Aquino, describing the leader as a person of principle who reversed the Philippine story from “Asia’s sick man to Asia’s bright star.”
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SEC sets arbitration guidelines for intra-corporate spats
The Securities and Exchange Commission (SEC) is finalizing the guidelines for arbitration that would ensure the speedy and impartial resolution of intra-corporate disputes.
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Villar Group plans 2 IPOs in Q4
The Villar Group of Companies is planning two initial public offerings towards the fourth quarter of the year—Vista Land and Lifescapes’ real estate investment trust (VREIT) and supermarket chain owner AllDay Mart Inc.