Peso near lows as markets turn defensive
The Philippine peso is again nearing record lows as persistent inflation, geopolitical tensions, and strong US dollar demand continue to pressure local markets. Rizal Commercial Banking Corp. chief economist Michael Ricafort said the peso could retest historic weakness after falling 1.8% this week and approaching the April 30 intraday low of P61.75 against the dollar.
DA warns rice price cap violators of jail, fines
The Department of Agriculture (DA) has warned rice retailers, traders, and importers that violating the government’s newly imposed price ceiling on imported rice could lead to jail time, hefty fines, and even business closures under the Price Act.
DENR set public scoping for P13.5-B Magat pumped-storage hydro project in Isabela and Ifugao
The Department of Environment and Natural Resources (DENR), through the Environmental Management Bureau (EMB), has scheduled a public scoping activity for the proposed 97-megawatt (MW) Magat pumped-storage hydro (PSH) project worth P13.5 billion in the provinces of Isabela and Ifugao.
Fuel prices seen rising this week as global oil costs climb
Motorists need to prepare for another round of fuel price increases this week, with both gasoline and diesel expected to become more expensive due to rising global oil prices and renewed tensions in the Middle East.
Jollibee sees steady growth despite price hikes and rising costs
Jollibee Foods Corporation expects both same-store sales and system-wide sales to grow by a single-digit rate this year, even after implementing price increases across its stores, company executives said.
