Tag: Exports

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Philippines trade gap narrows in May on strong export growth

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The Philippines’ trade deficit narrowed to USD 3.29 billion in May from USD 4.73 billion a year earlier—an improvement also over April’s USD 3.79 billion trade gap—due to strong export growth and softer import values, the Philippine Statistics Authority (PSA) reported Friday.

Trade deficit widens to USD4.13B in March

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The Philippine trade deficit widened further to USD4.13 billion in March, as export growth failed to keep pace with the double digit expansion in imports, the Philippine Statistics Authority said Wednesday.
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Vena Group launched P24B  Ilocos solar projects

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Vena Group has begun construction on two major renewable energy projects in Ilocos Norte, part of its 15-project pipeline, signaling another milestone in the Philippines’ drive to expand clean energy capacity and attract green investments.

MRSGI 1Q profit nearly doubles on strong food retail sales

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Metro Retail Stores Group Inc. (MRSGI), the retail company led by the Gaisano family, reported that its net income nearly doubled in the first quarter of the year to P25.84 million from P13.38 million a year earlier, driven mainly by strong performance in its food retail business.

SteelAsia secures P1.25B loan for green expansion

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SteelAsia Manufacturing Corporation has secured a P1.25-billion green loan from Taiwan-based Cathay United Bank, boosting the Philippine steelmaker’s low-carbon expansion plans and reinforcing regional sustainable finance momentum.

Senate starts trial of VP Duterte

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Senators on Monday took their oath as judges to begin the impeachment trial of Vice President Sara Duterte, pledging “to do impartial justice according to the Constitution and laws of the Philippines.” Duterte, impeached last week by the House, faces charges including constitutional violations, graft, unexplained wealth, and allegedly plotting to assassinate President Ferdinand Marcos Jr. A Senate summons requires her to respond within 10 calendar days and later appear for the trial. Conviction will need 16 senators’ votes.

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