From the first quarter report of Leechiu Property Consultants Inc. (LCPI), the Philippine property market showed genuine signs of recovery. However, the industry remains vulnerable to the challenges brought by the increasing uncertainties and unfavorable financing conditions stemming from the...
The Energy Regulatory Commission (ERC) lifted the suspension of the Wholesale Electricity Spot Market (WESM) across the Luzon, Visayas, and Mindanao grids, restoring normal trading operations effective Friday, May 1. In a statement, the ERC explained that this WESM resumption marks a return to...
With Filipino consumers already reeling from punishing summer power bills, it’s time to confront an uncomfortable truth: the ₱0.0371/kWh GEA-All charge surreptitiously embedded in electricity rates is not anchored on solid statutory footing under Republic Act 9136 (EPIRA) or the Renewable...
A fifth-alarm fire tore through Commonwealth Market in Quezon City before dawn on Saturday, April 25, escalating within minutes from its initial alarm, the Quezon City Fire District said. The blaze quickly intensified, drawing a massive response from Bureau of Fire Protection units and volunteer...
Eight individuals were arrested and three unlicensed .45-caliber pistols were seized when the Quezon City Police District (QCPD) raided an illegal billiard betting den inside Commonwealth Market on Monday, April 20. QCPD operatives conducted the operation following surveillance of reported illegal...
ILOILO CITY – Bayan Muna Panay has called out former Sen. Franklin Drilon for telling fellow Ilonggos to prove that Iloilo City is worthy of the P3-billion redevelopment of two public markets – the Iloilo Central Market and the Iloilo Terminal Market – by a prominent property developer....
Power rates in Luzon may see an increase this month, as its average spot market price posted the highest jump among the three regions due to the power supply-demand imbalance experienced in March. In a media briefing on Wednesday, April 8, Independent Electricity Market Operator of the...
Ayala-led renewable energy (RE) firm ACEN Corp. remains the largest retail electricity supplier (RES) in the market, having taken over the majority of the franchise area of Manila Electric Co. (Meralco). According to Philippine Electricity Market Corp. (PEMC), ACEN’s RES arm captured 71 percent...
The government should address persistent competition barriers in the retail electricity market to widen consumers’ ability to purchase power from their preferred suppliers, according to the antitrust watchdog Philippine Competition Commission (PCC). In a statement on Monday, April 6, the PCC said...
Philippine manufacturing growth slowed in March as input prices spiked amid rising energy costs tied to the war in the Middle East. In a report on Wednesday, April 1, S&P Global said the Philippines ’ purchasing managers’ index (PMI) eased to 51.3 last month from 54.6 in February, signaling a...
Residential property prices posted their slowest inflation rate in nearly seven years, or since before the Covid-19 pandemic, as Filipinos stepped on the brakes on borrowing from banks to purchase housing amid tighter lending standards. “Residential property prices in the Philippines continued to...
LEGAZPI CITY – The Department of Agriculture (DA) is investigating the implementation of a farm-to-market road project intended to improve market access for farmers and reduce post-harvest losses in an agricultural town in Albay. Agriculture Secretary Francisco Tiu Laurel Jr. on Monday inspected...
