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DOTr finally rolls out single-stage bid process for NAIA

The government on Wednesday rolled out a single-stage bidding process to rehabilitate, optimize and maintain the Ninoy Aquino International Airport (NAIA), the country's main international gateway. 

Balisacan: Farmers suffer if government cuts rice price to P20/kilo

Socioeconomic Planning Secretary Arsenio Balisacan said Wednesday the government could drastically bring down rice prices but warned that millions of rice farmers would be adversely affected if productivity stays at current levels.

BSP retains caps on credit card transactions

The policy-making Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has kept the maximum charge on the unpaid credit card balances unchanged at 3 percent a month.

Budget department wants government Procurement Act updated

The Department of Budget and Management unveiled on Tuesday a proposal to update the 20-year-old procurement law to help speed up government spending and bolster economic activity.

BOP deficit reverses to seven-month surplus of $2.21 billion

The Philippines in July this year continued to report far more foreign currency-denominated expenses than earnings although the shortfall, the Bangko Sentral ng Pilipinas (BSP) said, has sharply diminished on both annual and monthly basis.

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Davao durian shipped to Oman in new trial export

The Department of Agriculture announced Tuesday that 56 boxes of Davao durian, weighing 1.08 metric tons and worth around P183,000 ($3,000), have been sent to Oman. The shipment from Engseng Food Products of Davao City is bound for Jeel Almaaly International in Al Dakhiliyah Governorate.

Petron net income drops 28% on high oil costs

Petron Corp. reported a 28 percent fall in first-half net income to P3.8 billion from P5.3 billion a year earlier, the company said Tuesday. The decline was mainly due to Middle East tensions pushing crude, import and freight costs higher. Dubai crude averaged $91 a barrel, up 27 percent year-on-year.

Singapore’s USEL eyes Philippine logistics, data center investments

Singapore-based Universal Success Enterprises Limited (USEL) is exploring investments in logistics parks and data centers in the Philippines, underscoring growing foreign interest in sectors benefiting from the country's expanding digital economy and infrastructure buildout.

Toyota backs RACE alongside EVIS to spur investments

Toyota Motor Philippines (TMP) is optimistic the proposed Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program will be rolled out alongside the government's Electric Vehicle Incentive Strategy (EVIS), saying the twin initiatives would strengthen the country's automotive manufacturing base while accelerating the transition to cleaner mobility.

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