Business NEWS

Agriculture Secretary William Dar has welcomed the move of President Rodrigo Roa Duterte to sign Republic Act No. (RA) 11524 or the Coconut Farmers and Industry Trust Fund Act (Coco Levy Act).

The out-of-home (OOH) advertising platform, which was among the hardest hit sectors during the height of pandemic, expects to start to recover this year with new trends emerging and brands riding on the popularity of celebrities, particularly Asian or K-Pop stars.

The Bangko Sentral ng Pilipinas (BSP) is projecting inflation to rise to 4.7 percent in February versus 4.2 percent in January.

State-lender Land Bank of the Philippines (Landbank) said that its profit dropped last year due to reduced economic activities brought about by the coronavirus pandemic.

Foreign buyers move out of Myanmar

Expenses for fuel will take its pinch on consumers’ pockets again this week, with substantial increases calculated across products that are retailed at the pumps due to the continuously rising prices in the world market.

German firm Siemens Energy is projecting that economies in the Asia Pacific region will immensely propel energy demand growth within the stretch of two decades or until year 2040.

Food and agriculture multinational firm Cargill said everyone’s priority should be strict biosecurity and feed hygiene in fighting the much dreaded African Swine Fever (ASF), which already resulted in billions of losses in the Philippines’ hog industry.

Pangilinan-led PXP Energy Corporation has substantially trimmed its consolidated net loss last year to P76.3 million compared to a considerably enormous scale of P297.2 million in 2019.

The “Go Lokal!” program of the Duterte administration since 2016 has brought over a thousand micro, small and medium enterprises (MSMEs) into the mainstream markets. 

The solar power installations of Pilipinas Shell Petroleum Corporation sprang up as “the light of the end of the tunnel” that reversed the stream of darkness that had long afflicted some communities or a village (barangay) along the Batangas-Tabangao-Lobo stretch.

After a slowdown in 2020, Philippine companies’ migration into cloud is expected to grow rapidly this year back to its robust 2019 level as enterprises accelerate adoption of new technologies to become more resilient.

January and February saw the country gearing up in preparation for the  return to normal life with the arrival of the Covid 19 vaccines.

China Banking Corporation (China Bank) reported a 20 percent growth in net income to P12.1 billion despite the challenges posed by the pandemic last year.

Smart Communications Inc. has tripled the number of its 5G sites nationwide to over 1,400, including Baguio and Cagayan de Oro, the telco announced Friday, (Feb. 26).

Despite encouraging prospects for the local economy, the Duterte administration’s chief economic manger admitted that it would take more years before the Philippines can fully recover from the 2020 coronavirus pandemic.

The peso closed  higher  at P48.59  to the US dollar  Friday, (Feb.  26)  from  P48.605 on Wednesday. The weighted  average rate  depreciated   to  P48.653   from P48.637.  Total volume amounted  to  $1.325.55 billion, according to the Bankers Association of the Philippines.

Local share prices rose Friday, ( Feb. 26) as investors picked up bargains amid news that vaccines will finally arrive, ignoring an overnight sell-off in Wall Street.