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BOP deficit in October signals short-term challenge, but strong surplus underpins economic resilience

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The Philippines posted a balance of payments (BOP) deficit of USD724 million in October, marking a stark contrast to the USD1.5 billion surplus recorded in the same month last year.

Treasury yields rise at Monday’s auction

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Treasury bill yields were higher at the auction Monday, reflecting the rise in the secondary market after cautious comments from the U.S. Federal Reserve on the outlook for monetary policy easing.

Remittances surge: Overseas Pinoys drive economic growth

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Personal remittances from overseas Filipinos (OFs) continued to strengthen in September, rising by 3.3 percent to USD3.34 billion from USD3.23 billion in the same month last year, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).

Remittances surge in September

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Personal remittances from overseas Filipinos (OFs) grew by 3.3 percent in September 2024, reaching a total of USD3.34 billion, up from USD3.23 billion in the same month last year, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).

Top Line gears up for P2.75B IPO as Central Visayas economy surges

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Cebu-based fuel retailer Top Line Business Development Corp. is gearing up for its public debut with an initial public offering (IPO) aimed at raising up to P2.75 billion to fund its ambitious expansion in the thriving Central Visayas economy.
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OceanaGold sets aside P768.43M for Didipio mine rehabilitation and decommissioning

Energy & Mining 0
OceanaGold Philippines Inc. (OGPI) has allocated P768.43 million under its Final Mine Rehabilitation and Decommissioning Plan (FMRDP) for the Didipio gold and copper mine that spans Nueva Vizcaya and Quirino provinces. In a statement released Sunday, the listed mining firm confirmed that P551.4 million has already been placed in a trust fund. The company said the fund will keep growing in line with required annual contributions as it moves forward with rehabilitation and closure preparations while the mine remains active.

ERC approves provisional FIT-All rate hike to P0.3359 Per kWh

Energy & Mining 0
The Energy Regulatory Commission (ERC) has granted the National Transmission Corporation (TransCo) provisional authority to collect a higher Feed-in Tariff Allowance (FIT-All) rate starting this month. The rate will rise to P0.3359 per kilowatt-hour (kWh) from the existing P0.2011 per kWh, marking an increase of P0.1348 per kWh. This adjustment covers the approved working capital allowance (WCA) rate update.

Meralco backs ERC-ordered P9.5B consumer refund program

Energy & Mining 0
Listed Manila Electric Co., the country’s largest power distributor and better known as Meralco, on Sunday said it will immediately comply with the Energy Regulatory Commission's (ERC) directive to refund about P9.5 billion to customers, backing the government's push to deliver quicker and more transparent electricity bill relief.

PCCI says power bill relief must lead to deeper energy reforms

Energy & Mining 0
The Philippine Chamber of Commerce and Industry (PCCI) said the government's plan to scrap systems loss charges and the value-added tax (VAT) on electricity bills should serve as a springboard for broader reforms aimed at lowering power costs and improving the country's investment competitiveness.

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