The Bureau of Customs (BoC) was told to speed up its audit of rice import transactions in 2019, as well as the collection of unpaid tariffs and penalties from erring importers, so it could look into more recent cases of undervaluation in rice importation. This was after the agency reported that it...
American energy giant Chevron Corporation packed its bags out of the country early this year after finalizing the sale of its 45% stake in Malampaya to Filipino businessman Dennis Uy. Previous to this, data from the Petroleum Association of the Philippines showed an exodus of deep-pocketed...
While the decline in the country’s pork production is already a given amid the persistence of African Swine Fever (ASF), the US Department of Agriculture (USDA) released a surprising outlook on the Philippines’ chicken production, which it said might go down despite the assurance of the...
Exporters and labor groups yesterday scored the Duterte administration on the way they’re handling the Generalized System of Preferences (GSP) Plus issue with the EU stressing the offensive statements will not do the country good especially to roughly 600,000 workers who will be affected if the...
The Philippine government has officially confirmed the planned sale of the 45-percent interest of Shell Philippines Exploration B.V. (SPEX) in the $4.5 billion Malampaya deep water gas-to-power project. “Yes, we were informed that Shell is selling. That’s how much we know,” Energy Secretary...
The Philippine upstream subsidiary of Royal Dutch Shell plc is planning to sell its 45-percent stake in the US$4.5 billion Malampaya deep water gas-to-power project if it can corner enticing offer from prospective takers. Highly placed sources from government indicated that Shell Philippines...
The national government posted a significantly wider budget deficit last month despite the Duterte administration's almost flat spending due to dwindling revenues amid the pandemic, data from the Bureau of the Treasury showed. Official data showed the national government’s fiscal gap swelled by...
Both the farmgate and retail prices of the country’s main staple food palay and corn are on a downtrend, which is bad news for farmers but good news for consumers. Latest data from the Philippine Statistics Authority (PSA) showed that farmgate price of palay fell further during the first week of...
Banana, one of the biggest agricultural export commodities of the country, is now causing problems at the Department of Agriculture (DA), with Agriculture Secretary William Dar starting to seriously worry about something local exporters raised three months ago: “we’re losing our market...
About P400 million budget will be set aside for the Philippine government’s program to encourage Filipino households to plant their own food program, the Department of Agriculture (DA) said. In a statement, the DA said it is allotting P400 million under the “Bayanihan to Recover As One Act”...
Retired Supreme Court Associate Justice Antonio Carpio and a lawyers’ group warned of violation of the Constitution and national security risk if Congress enacts law to remove telcos as a public utility open to foreign control. Retired Supreme Court Associate Justice Antonio Carpio (JOHN JEROME...
Pump prices will take new round of pinch on consumers’ pockets this week as the price of gasoline products had been increased by P0.60 per liter, based on the announcements of the oil companies. Diesel, which is the other major fuel commodity used by motorists, will also go up by P0.20 per liter;...
