Profit-taking weighs down stocks; peso finish higher
The Philippine Stock Exchange index (PSEi) slid 1.3 percent to 6,384.58, extending profit-taking for a second session after touching seven- to nine-month highs. Even so, the benchmark remains comfortably above the 6,000 mark, keeping the broader uptrend intact and suggesting the pullback is more consolidation than reversal.
Another Tuesday, another hike: Fuel costs keep rising
Fuel prices are set to rise again this week, marking what could be the sixth straight increase this year, according to Jetti Petroleum Inc..
More US chicken back on table as DA eases import curbs
The Department of Agriculture (DA) has lifted its temporary ban on poultry imports from the US states of Illinois and Wisconsin, allowing chicken products from these areas to enter the Philippines again. However, imports from Kansas remain suspended due to ongoing bird flu outbreaks.
Imported onion stocks not enough to depress prices
The Department of Agriculture (DA) said current imported onion stocks are not enough to cause a major drop in red onion prices, following complaints from farmers in Nueva Ecija.
NTC proposes strict service standards for new data players
The National Telecommunications Commission (NTC) has proposed new service quality benchmarks for data transmission industry participants under the Konektadong Pinoy Act to ensure new telecommunications entrants meet national connectivity standards.
