The Philippine Stock Exchange index (PSEi) dropped on Monday, Sept. 8, as investors took profits and focused on the ongoing hearing into alleged corruption in flood control projects. The PSEi fell by 47.27 points, or 0.77 percent, to close at 6,101.86. The Bank and Conglomerate sectors led the...
A Singapore-based holding company is set to take over Indonesian retail giant PT Mitra Adiperkasa Tbk after receiving clearance from the Philippine Competition Commission (PCC). In a statement, the PCC said the deal was approved after the country’s antitrust body found no risk of reduced...
A prominent business group representing domestic manufacturers and producers is urging the government to implement safeguards to protect the local industry from a potential influx of foreign investors following the passage of a bill extending long-term lease contracts. The Federation of Philippine...
Flag carrier Philippine Airlines (PAL) has expressed its commitment to align with the government’s agenda on connectivity and tourism, as the Department of Transportation (DOTr) pressures local carriers to lower airfares. “As the flag carrier, we stand ready to align our efforts with...
State-run think tank Philippine Institute for Development Studies (PIDS) has urged President Ferdinand R. Marcos Jr. to sign the consolidated Senate and House bills on the proposed Animal Industry Development and Competitiveness Act into law, touting its benefits for the livestock sector. In...
Singapore-based United Overseas Bank (UOB) expects lower interest rates to lift Philippine economic growth in the near term, despite lingering global challenges that would likely expand the domestic economy below the government’s goal for the year. In its Quarterly Global Outlook report for the...
The Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) are working together to encourage even small companies to go public, as large, family-owned conglomerates are no longer too keen to list their shares as part of estate-planning because inheritance tax has recently...
Three fishermen who had been stranded in the West Philippine Sea (WPS) for two days finally got rescued by the authorities after they ended up at an isolated detachment of the Philippine Marine Corps (PMC) on Sunday morning, Sept. 7. The Marines identified the fishermen as Romeo H. Carta, 50; Rojin...
Malacañang has refuted claims by the camp of Great Pacific Builders and General Contractor, Inc., that the firm did not handle the second phase of the Philippine Film Heritage Building (PFHB) project. In a statement, Communications Undersecretary Claire Castro urged the contractor couple, Cezarah...
The local stock market extended gains as investors continued to pick up bargains after the August inflation rate, while higher, came within target. The main index rose by 42.21 points, or 0.69 percent, to close at 6,149.13. The services sector led the advance, although banks dipped slightly. Volume...
Senator Erwin Tulfo has urged the Philippine Amusement and Gaming Corporation (PAGCOR), Ad Standards Council (ASC), and the Kapisanan ng mga Brodkaster ng Pilipinas (KBP) to immediately review advertisements related to online gambling. Tulfo, who chairs the Senate Committee on Games and Amusement,...
Despite last month’s spike in consumer prices, the steady decline in rice costs is seen to keep a lid on inflation, with the Bangko Sentral ng Pilipinas (BSP) expecting it to average below two percent this year. Inflation quickened to 1.5 percent in August from 0.9 percent in July—the slowest...
