The Department of Public Works and Highways (DPWH) has called on its engineers and officials to adopt innovative solutions and fast-track project implementation in support of the Marcos administration’s infrastructure program under the Bagong Pilipinas agenda. DPWH Secretary Manuel M. Bonoan...
Expect pickup trucks to be more costly after the provision reimposing the excise tax on the vehicle type was approved, alongside other tax reform measures under the proposed Capital Market Efficiency Promotion Act (CMEPA). The CMEPA, a legislation deemed a priority of the administration under the...
The World Bank Group (WBG) has imposed a 4.5-year debarment on L.S.D. Construction & Supplies, a construction firm in the Philippines, for “collusive, fraudulent, and corrupt practices” linked to the Philippine rural development project (PRDP). In a May 28 statement posted on its website, the...
The PSEi dipped again as investors remained cautious and took profits late in the trading day after President Marcos asked heads of government controlled corporations to resign for another top level reshuffling. The main index shed 12.99 points or 0.20 percent to finish at 6,412.81 with Miners...
The proposal to tax outbound remittances of non-United States (US) nationals would slash Philippine inflows by as much as $476.5 million or over ₱26 billion per year, according to estimates from the Washington-based Center for Global Development (CGD). In a May 28 blog post, CGD experts Helen...
he PSEi rose after the US announced another pause in the implementation of tariffs on products from the European Union. The main index added 41.18 points or 0.64 percent to close at 6,425.80 as Banks led gains accross the board. Volume improved to 601 million shares worth P6.3 billion as gainers...
The Philippines will receive a $400-million, or about ₱23.4-billion, loan from the Asian Development Bank (ADB) to restore marine ecosystems and strengthen its blue economy, as part of the lender’s $24-billion support package for Southeast Asia through 2028. ADB President Masato Kanda announced...
The World Bank Group (WBG) will extend to the Philippines between $22 billion and $23 billion—or as much as over ₱1.2 trillion—in loan and other financing starting mid-2025 until 2031 to support both public and private initiatives aligned with the country 's climb to upper-middle-income...
The Philippine Stock Exchange index (PSEi) ended slightly negative as investors continue their wait-and-see stance as several economic data are die for release later this week. The main index shed 5.32 points or 0.08 percent to close at 6,384.62 with sectoral indices equally divided. Volume...
Real estate giant Ayala Land Inc. (ALI) has signed a 25-year contract agreement for the lease and continued development of the John Hay Technohub in Camp John Hay, Baguio City, according to the Bases Conversion and Development Authority (BCDA). In a statement, BCDA President and Chief Executive...
The PSEi declined on mixed trading as investors waited for the release of economic data due this week. The main index shed 23.16 points or 0.36 percent to close at 6,389.94 with sectoral indices equally divided. Volume was low at 486 million shares worth P4.74 billion as gainers outnumbered losers...
The Manila-based multilateral lender Asian Development Bank (ADB) is urging its host country to ramp up nationwide mobile internet access to boost Filipino households ' wealth. "Our findings show that mobile internet access has a significant and positive impact on household wealth,...
