DOE gains legislative support for proposal extending PSALM franchise beyond 2026
The Department of Energy (DOE) supports the proposal extending the corporate life of the Power Sector Assets and Liabilities Management Corp. (PSALM) beyond 2026 as part of the plan helping the government manage over P300 billion worth of power generation-related liabilities.
POGO ban impact on Metro Manila office rentals limited–Colliers
The order by President Ferdinand Marcos Jr. banning all Philippine offshore gaming operations, or POGO, will impact the market for office space in Metro Manila but not as substantially as it would have had the prohibition been made prior to the COVID-19 pandemic, diversified professional services and investment management firm Colliers said.
Metro Manila in ’State of Calamity’ due to Southwest Monsoon, Typhoon Carina induced floods
The government on Wednesday declared a state of calamity in Metro Manila, the country’s capital and economic hub, in response to widespread flooding caused by intense rainfall from Typhoon Carina and the Southwest Monsoon.
SteelAsia to invest P82 billion in 5 new steel plants across the Philippines
SteelAsia Manufacturing Corp., a major Philippine steel producer, unveiled its plan to build five new steel plants across the country costing P82 billion it projects will boost domestic manufacturing capabilities, reduce import dependency, and foster economic growth.
DA releases initial damage estimates due Typhoon Carina
Damage to agriculture due the combined impact of southwest monsoon and typhoon Carina is initially estimated at P156.79 million, according to the Department of Agriculture’s (DA) Disaster Risk Reduction and Management Operations Center.
