The Department of Finance (DOF) has warned that the government’s slow implementation of digitalization amid the rapid growth of e-commerce could result in significant revenue loss. In a statement, the DOF said that Finance Secretary Ralph G. Recto is now seeking additional funding from the...
The local stock market gave up the previous day’s gains and fell again on news that Israel has struck back at Iran, further escalating the situation in the Middle East. The main index lost 80.19 points or 1.23 percent to close at 6,443.00 with the Property sector losing the most while Miners...
Department of Social Welfare and Development (DSWD) Secretary Rex Gatchalian led the launch of the reformatted educational assistance initiative called “Tara, Basa! Tutoring Program” in Samar province on April 19. Gatchalian said the reading tutorial program is important to help eradicate...
The local stock market added to the previous day’s gains as bargain hunters were emboldened by the support the PSEi found at the 6,400 level. The main index rose by 73.15 points or 1.13 percent to close at 6,523.19 with the Services sector leading the advance while Miners retreated. Volume grew...
Foreign investors should consider doing business in the Philippines as the government has been taking a proactive approach to improving the economy despite external risks, the National Economic and Development Authority (NEDA) said. During the Philippine Investors Dialogue in Washington D.C., NEDA...
The local stock market finally eased from its steep 9-day plunge after bargain hunters stepped in to pick up cheaper stocks. The main index added 45.07 percent or 0.70 percent to close at 6,450.04 as Banks led the advance while the Property counter continued to fall. Volume was lower at 595 million...
The Gotianun Group’s real estate investment trust Filinvest REIT Corporation (FILRT) is waiting for the equities market to recover and for its stock price to improve before acquiring more assets via share swap. “A number of assets have been identified for infusion into FILRT that are subject to...
Listed Filipino firm Basic Energy Corporation has sealed a 50:50 joint venture pact with Japanese firm Renova Inc. for the commercial development of Mabini wind power project that could potentially yield 50-megawatt capacity addition to the country’s power supply. Basic Energy announced that the...
The Philippine Stock Exchange index (PSEi) fell through the 6,500 support level to settle just above the 6,400 mark as investors cash out amid uncertainties due to the conflict in the Middle East. The main index plunged 157.46 points or 2.40 percent to close at 6,404.97 as the Services sector led...
The Sandiganbayan has denied the motions filed by three former Department of Social Welfare and Development (DSWD) officials to file a demurrer to evidence to challenge the alleged weakness of the prosecution's evidence on their graft and malversation of public funds cases. With the denial,...
The local stock market plunged as investors turned jittery after Iran attacked Israel with hundreds of missiles. The main index fell 96.96 points or 1.46 percent to close at 6,562.43 as Conglomerates led the retreat while the Mining sector bucked the trend. A total of 612 million shares worth P5.58...
With $1.5 million funding from the United States Agency for International Development (USAID), the Philippine government - with the Department of Energy (DOE) in the lead - has established a centralized energy command hub that will be primarily activated in times of disasters, power system failures...
