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DOE to invest P502 B for gas extraction
The Philippines is planning to invest P502 billion in the next two decades for its targeted gas reserves extraction of up to 4.0 trillion cubic feet (TCF) as a replacement to the depleting Malampaya field, according to the Department of Energy (DOE).
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Banks allocate higher loan funds
Banks have allocated P239.4 billion worth of loans as alternative compliance to the reserve requirement (RR) rule to ensure continued support to the country’s key economic sectors.
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WB, EU extend P16-B more funds to DA
The Department of Agriculture’s (DA) Philippine Rural Development Project (PRDP), the largest World Bank-funded project in the country, has been extended up to July 2025 and has received additional foreign funds of about P16 billion.
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Gov’t lowers subsidy to GOCCs in Oct.
The Duterte administration has lowered the amount of subsidy extended to government owned and controlled corporations (GOCCs) for October, data from the Bureau of the Treasury showed.
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Villar's retail empire expanding, plans new IPO
Billionaire Mannuel B. Villar is optimistic about the prospects of his growing retail empire and plans to aggressively open more branches next year while preparing the initial public offering (IPO) of the popular Coffee Project.
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BSP bills slightly oversubscribed
The Bangko Sentral ng Pilipinas’ (BSP) securities auction last Friday, Dec. 4, fetched a higher yield while bids were slightly oversubscribed.
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Gov't minimizes damage on economy
Government economic managers are on higher alert with the COVID-19 Omicron scare to curtail its possible impact on growth, lockdowns to contain transmission, and other collateral damage to the economy.
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Villar developing 2,500-ha legacy project
Billionaire Manuel B. Villar Jr. is planning to develop soon as his legacy project a sprawling 2,500 hectare property at the border of Metro Manila into an upscale central business district.
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Omicron, inflation, jobs data to influence stock market
Stock investors are seen to remain cautious amid uncertainty over the impact of the Omicron variant while watching out for the release of Philippine inflation and employment data.
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Cargill's plant in Mindanao is now operational
Multinational food and agriculture firm Cargill has started commercial operation of its first basemix plant in Mindanao in a bid to take advantage of the demand for high-quality and safe animal nutrition solutions for hogs and chicken.
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Basic Energy plans RE ventures
Basic Renewables Inc. (BRI), a subsidiary of publicly listed Basic Energy Corp. (BEC), will invest more in the renewable energy (RE) sector to increase the generated capacity of RE facilities to support the growth and deployment of electric vehicles (EVs) in the country.
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PH medical device industry seen growing 8.8% annually — DTI
The local medical device industry is projected to grow 8.8 percent annually to reach $884.3 million in two years, according to Trade and Industry Secretary Ramon M. Lopez.
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Scammers now use ‘group chats’ – telcos
Fraudsters now use group chats to fleece money from victims, according to PLDT Inc. and Smart Communications, Inc. (Smart) cybersecurity teams.