Members of the Development Budget Coordination Committee (DBCC) are scheduled to convene next week to assess the country’s economic targets. Budget Secretary Amenah F. Pangandaman said that the inter-agency body responsible for setting the government’s macroeconomic assumptions will hold a...
Senators have expressed differing opinions on the newly approved reduction tariff on rice by the National Economic and Development Authority (NEDA) that has already been approved by President Marcos. NEDA Secretary Arsenio M. Balisacan said that the reduction tariff on rice from 35 percent to 15...
The local stock market resumed its downward trend as investors remained jittery over high inflation and the weaker peso. The peso continued to decline further, closing at P58.71 to a US dollar on Tuesday, June 4, 2024 from P58.68 on June 3. The weighted average rate was at P58.681 from...
President Marcos' economic managers maintained that the National Food Authority (NFA) should continue its role in buffer stocking and intervene in the market only during emergencies. National Economic and Development Secretary Arsenio M. Balisacan said that any reforms to the state grains agency...
The reduction tariff on rice from 35 percent to 15 percent and additional government subsidies will lessen the cost of rice to P29 per kilo for the poor, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said. Balisacan said on Tuesday, June 4, that adjusting the...
The Philippine Stock Exchange index (PSEi) started the week stronger as investors continued bargain hunting after last week’s plunge. The main index added 37.64 points or 0.59 percent to close at 6,470.74 on the strength of Banks although sectoral indices were evenly split. Volume increased to...
First Philippine Holdings Corporation (FPHC), a member of the Lopez Group, is kicking off the operation of seven power plants worth P29.3 billion this year through Energy Development Corporation (EDC). During the firm’s annual stockholders’ meeting, FPHC President Francis Giles B. Puno said...
BACOLOD CITY – The Energy Regulatory Commission (ERC) has approved the power supply agreement (PSA) between the Central Negros Electric Cooperative (Ceneco) and the Energy Development Corp. (EDC) in a bid to stop increasing electricity rates affecting the province of Negros Occidental. In a...
President Marcos has reappointed Claire Dennis S. Mapa as the national statistician and civil registrar general of the Philippine Statistics Authority (PSA). On Saturday, June 1, National Economic and Development Authority Secretary Arsenio M. Balisacan administered the oath of office to Mapa,...
In light of the country's expected slower growth this year, the economic managers have adjusted downward the projected tax collections for the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC). Budget Secretary Amenah F. Pangandaman confirmed to Manila Bulletin on Saturday, June 1,...
The PSEi bounced from its major support level of 6,400 after bargain hunters started picking up battered stocks. The main index rose by 61.35 points to 0.96 percent to close at 6,433.10 as the Services counter surged although Banks and Conglomerates continued to fall. Volume jumped to 1.22 billion...
The Marcos administration is looking to ramp up the sale of government assets this year, data from the Development Budget Coordination Committee (DBCC) revealed. Based on the DBCC's quarter fiscal program approved last May 23, the national government expects to generate P42.12 billion in proceeds...
