The Department of Finance (DOF) has bared the government strategies referred to as the Growth-Enhancing Actions and Resolutions (GEARs) plan that will ensure the country is on track to achieve a growth-enhancing fiscal consolidation, which in turn will foster an environment conducive to employment-generating investments.Under the GEARS plan, the DOF will act fast on investments…
The National Economic and Development Authority (NEDA) has assured the Marcos administration remains to creating a favorable business environment that could generate more job opportunities for Filipinos. NEDA made the statement following the recent release of the Labor Force Survey (LFS) results that showed an improvement in unemployment and underemployment rates for January. Philippine Statistics Authority (PSA) figures show the country posted an…
Big business magnates Sabin Aboitiz, Ramon Ang, and Manuel Pangilinan have sealed a US$3.3-billion energy deal that will augment the country’s power supply with over 2,500 megawatts (MW) of generation capacity.In a recent disclosure to the Philippine Stock Exchange Monday, Aboitiz Power Corp., Meralco PowerGen Corp. (MGen), and San Miguel Global Power Holdings Corp. (SMGP)…
The government his intensified its efforts to mitigate the effects of the El Niño phenomenon and help keep the inflation rate within target. The National Economic and Development Authority (NEDA) made the statement on Tuesday after the Philippine Statistics Authority (PSA) reported that headline inflation accelerated to 3.4% in February this year. The headline inflation during the month was…
MANILA – Global sports brand Decathlon sees the Philippines as an emerging market for sports wearable and equipment. France-based Decathlon has expanded its Philippine operations with the opening of its newest store in Cebu last March 1. This is the retail sports brand’s first store opening in the country this year. Decathlon’s 3,000-square meter sports retail zone in SM City Cebu is…
MANILA – The antitrust bodies of the Philippines and Australia have committed to strengthen their cooperation on advocacy and enforcement following the signing of a Memorandum of Understanding (MOU) in Canberra. In a statement Tuesday, the Philippine Competition Commission (PCC) said Chairperson Michael Aguinaldo signed an MOU with Australia Competition and Consumer Commission (ACCC) Chair Gina Cass-Gottlieb last…
Ayala Land, Inc. (ALI) has set PHP100 billion in capital expenditure (capex) target this year as its outlook in the property sector remains rosy, especially in the high-end market. In a recent press briefing, ALI chief finance officer Augusto Bengzon said 34% of this year’s capex would be spent on residential projects, 24% for estate development, 19% for land acquisition, 10% for malls, 8% for…
Finance Secretary Ralph Recto has urged member states of the Inter-governmental Group of Twenty-Four (G-24) to reclaim their lost momentum through heightened cooperation and scaled-up support from international financial institutions. In his opening remarks for the G-24 Technical Group Meeting, Recto, who is chair of the G-24 Board of Governors, urged G-24 members and international partners to…
TRADE TALKS. Segundo Sigmundfreud Barte Jr. Bureau of Customs (BOC) acting district collector in Legazpi, gives his message during the”Regional Stakeholders Meeting” at The Oriental Hotel on Wednesday (Feb. 21, 2024). Barte said they are optimistic about collecting PHP3 billion in revenues for 2024. (PNA photo by Connie Calipay) LEGAZPI CITY – The Bureau of Customs…
State-owned Land Bank of the Philippines (LandBank) said its loans to agriculture and rural development recorded double-digit growth in 2023. In a statement Monday, LandBank said outstanding loans to the entire agricultural value chain amounted to P755.1 billion as of end-December 2023, higher by 23% than the P614.8 billion recorded in the third quarter. The amount accounts for about…
