MANILA, Philippines— Oil dealers are set increased their prices starting 6a.m Tuesday, August 1. Among the companies which submitted the notice of price hikes included Shell with bioethanol impact gasoline to go up by 35 centavos per liter, diesel 40 centavos and kerosene by 40 centavos per liter. Eastern Petroleum will hike the price of […]
Business
Senate optimistic about finding common ground to Duterte’s tax reform package
MANILA, Philippines — Senators previously expressed doubts that President Rodrigo Duterte’s request to pass the comprehensive tax reform package can be passed “in full”, but a senator said that he was hopeful that some changes can be accommodated. “I’m very optimistic that we will find a solution. I think that’s how legislation is formed, we […]
PH eyes possible bilateral free trade deal with US
MANILA, Philippines —The Philippines aims to further enhance its access to the United States — now, through a possible bilateral free trade agreement (FTA) with the world’s biggest economy. Trade Undersecretary Ceferino Rodolfo told reporters that the Department of Trade and Industry (DTI) is doing a study for a possible FTA with the US, looking […]
OPEC chief hopeful of oil stocks decline
ISTANBUL, Turkey– Mohammed Barkindo, secretary-general of the Organization of the Petroleum Exporting Countries (OPEC), said on Wednesday that he is optimistic about oil stocks declining further to heighten the prices at the second half of this year. “It’s been a very challenging first half of the year, but we are on course going forward and […]
BIR eyes electronic tax filing nationwide
MANILA, Philippines— Electronic tax filing and other computerized processing of data with the Bureau of Internal Revenue (BIR) is targeted to be implemented nationwide before the end of 2017. Bureau of Internal Revenue (BIR) Deputy Commissioner for Operations Nestor Valeroso told Senators Thursday that electronic tax filing was piloted in Makati City and the […]
PH inflation seen to peak in Q3
MANILA, Philippines— Monetary officials still see inflation peaking in the third quarter of 2017 even as Philippines rate of price increases has tended to go down. Inflation decelerated to 3.1 percent last May after hitting 3.4 percent in the previous two months, bringing the five-month average to 3.1 percent, slightly above the midpoint of the […]
Rico’s Lechon gets global recognition
CEBU CITY — Rico’s Lechon eyes to strengthen their product’s quality and service after winning the silver award of this year’s Asia-Pacific Stevie Awards in Tokyo, Japan. Rico’s is among the 13 Philippine companies that were recognized by Stevies and the only brand outside Metro Manila. Stevie Awards are the world’s premier business awards. It […]
Solaire loses 40 bookings after Resorts World incident
MANILA, Philippines— Bloomberry Resorts Corp.’s Solaire Resort and Casino, had experienced cancellation of 40 bookings following the shooting and fire incident in its neighboring casino Resorts World Manila last week. On the sidelines of the company’s stockholders meeting Thursday, Bloomberry Chairman Enrique Razon said the 40 booking cancellations were both from individual and junket bookings. […]
DTI announces areas under price control in Mindanao, warns vs profiteering
MANILA, Philippines — The Department of Trade and Industry (DTI) is informing all consumers and retailers that prices of basic necessities in an area proclaimed or declared under martial law shall be automatically frozen at their prevailing prices or placed under automatic price control. DTI said the price control is pursuant to Section 6 of […]
PHL exports grow 18.3 % in Q1 ’17
MANILA — Merchandise trade grew 22.7 percent in March backed by double-digit growth of imports and exports, bolstering hope the Philippines will be the fastest-growing economy among the ASEAN-5 this year. “This could be anchored on recovering external demand and strong domestic consumption and investment activities,” said National Economic and Development Authority (NEDA) Officer-in-Charge and […]
Inter-island Bridges to link Cebu, Bohol, Negros done during Duterte’s term-DPWH
DAVAO CITY– Bridges linking Cebu and Bohol, Cebu and Negros will rise before the term of President Rodrigo Duterte ends in 2022. Secretary Mark Villar of the Department of Public Works and Highways (DPWH) said the proposed 20-kilometer long Cebu-Bohol bridge is very feasible because of low seawater areas for bridge alignment. Based on the […]
Poorest regions take Billions infra projects
MANILA, Philippines — A total of P157.44 billion has been allotted to regions which has been left out during the previous administrations. Socioeconomic Planning Secretary and NEDA director general Ernesto Pernia said thousands of infrastructure projects will spread all throughout the country’s poorest region under the reinstated Three-Year Rolling Infrastructure Plan (TRIP) for 2018 to […]
ARMM economy soars in 2016
Cotabato City, Philippines–Leaders of the Autonomous Region in Muslim Mindanao’s (ARMM) claims economy soared in 2016 after a lean growth during the previous years. The region recorded an increase in gross domestic product (GRDP) from negative 0.4percnt in 2015 to positive 0.3% last year. The Philippine Statistics Authority (PSA), which conducted simultaneously media briefings nationwide […]