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BSP raises key rate by 25bps
The Bangko Sentral ng Pilipinas (BSP) said Thursday, May 19, that it is issuing a policy rate hike of 25 basis points (bps) Friday, May 20, to help temper the buildup of inflation expectations and in response to the strong rebound in the first quarter growth.
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DOF flags self-serving foreign consultants
The Department of Finance has warned the Philippine Crop Insurance Corp. (PCIC) as well as other government agencies to stop the practice of allowing foreign consultants to offer projects that only serve their personal interests rather than the interest of the government and Filipinos.
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Bad loans ratio improves to 4.08% in March
Banks’ non-performing loans (NPL) ratio dropped to 4.08 percent as of end first quarter, its lowest since December 2021, based on Bangko Sentral ng Pilipinas (BSP) data.
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CAMPI bats zero tariff on all EV technologies
The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) has called for the inclusion of all electric vehicle (EVs) technologies, including hybrid EVs, in the planned removal of the 30 percent most favored nation (MFN) tariff on completely built-up EVs.
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IBPAP says WFH authority legal
The IT and Business Process Association of the Philippines (IBPAP) stands by the validity of the Letter of Authority (LOAs) issued by the Philippine Economic Zone Authority (PEZA) allowing its member companies to operate via a hybrid work arrangement.
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DTI wants next admin urged to continue agency's major programs
The Department of Trade and Industry (DTI) is recommending that the incoming administration should continue the agency’s major programs that benefit business and consumers.
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Amendment to Intellectual Property Code pushed
Congress should amend the Intellectual Property Code to give the Intellectual Property Office of the Philippines (IPOPHL) greater enforcement power and enable the National Telecommunications Commission (NTC) to block online sites more swiftly, an advocacy group said.
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Pilmico’s meat brand further expands market presence
Pilmico Food Corp. (Pilmico), the Aboitiz Group’s the Aboitiz Group’s food and agribusiness, targets its meat products to be present in over 300 supermarket concessionaires by end this year.
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PH urges ASEAN to avoid export bans
The Philippines has called on ASEAN member countries to ensure smooth flow of goods and refrain from imposing any trade restrictions as economic ministers in the region raised concerns on recent export bans on certain commodities and emerging unilateral action on climate change that may hamper trade in the region.
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Davao Light upgrades IT infra to fend off cyber attacks
Davao Light upgrades IT infra to fend off cyber attacks
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Stocks rise on China's monetary easing
The local stock market resumed its upward trek to end the week higher on the back of good news from China.
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NGCP conducts blackout drill
To prevent service disruptions to its load customers, system operator National Grid Corporation of the Philippines (NGCP) has carried out “blackout drill”, an annual activity to reinforce the reliability of its operations.
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MGB XI Confers Safety Milestone Award to Apex Mining
The Mines and Geosciences Bureau Region 11 conferred the Safety Milestone Award to Apex Mining Co., Inc. for recording 7,549,768 man-hours without lost time accidents.