After the combined rate reduction of P1.0121 in the past two months, the Manila Electric Company (Meralco) announced Friday an upward adjustment of P0.5006 per kWh in the electricity rate this September. With this, overall rate for a typical household is P11.3997 per kWh this month from P10.8991 per kWh in August.
The Department of Transportation (DOTr) on Friday accelerated the release of fuel vouchers after the Department of Budget and Management (DBM) green lighted the release of P3 billion subsidy for public utility vehicle (PUV) drivers to cushion the impact of spiraling oil prices.
Metro Pacific Investments Corp. said Friday minority shareholders have tendered a total 5.36 billion common shares, equivalent to 18.7 percent stake in the listed investment holding company.
The Philippine economy lost more than 4 million jobs between July and June this year, with data released Friday by the Philippine Statistics Authority showing the number of employed Filipinos plunging to 44.6 million in July from 48.8 million in June.
The Philippine peso is back under pressure as surging oil prices and geopolitical strains jolt global markets, sharpening the policy dilemma for the Bangko Sentral ng Pilipinas (BSP).
The Philippine government is weighing the use of the Maharlika Investment Corporation to jump-start the redevelopment of the long-idle former National Steel Corporation (NSC) site in Iligan City, a 500-hectare property seen as a potential anchor for a new industrial and investment hub.
Manufacturers of basic goods have pledged to keep prices steady for at least 30 days, cushioning consumers from global volatility fueled by ongoing Middle East tensions.
The Philippine government is set to purchase 2 million barrels of oil to strengthen the country’s fuel buffer stock, Department of Finance Secretary Frederick Go announced Tuesday.