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Long haul foreign investments seen rounding 2024 as net inflows of $9.5 billion

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Foreign direct investments (FDI), the kind that stays invested for the long haul and generates employment for Filipinos, is seen aggregating USD 500 million this year...

Metro Manila daily minimum wage increases by P35 on July 17

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The daily minimum wage in Metro Manila for private sector workers will increase by P35 starting July 17, a salary adjustment that will directly impact 988,243 minimum wage earners and may also affect around 1.7 million employees paid higher salaries.

Fitch Group unit BMI cites EO 62 adverse impact on global rice price

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Think tank and Fitch Group unit BMI said the Manila decision reducing the tariff on imported rice could help push the price of the staple higher in global markets.

Government budget deficit widened in May to P174.9 billion on higher spending

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The national government recorded a wider budget deficit of P174.9 billion in May as the 22 percent increase in spending outpaced the 15 percent growth in revenue.

BDO’s Nestor V. Tan headlines BANCNET board directors

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The shareholders of electronic banking consortium BancNet have elected new directors to its board during their annual meeting held 18 June 2024.
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PEZA, Oman target investments across four strategic industries

Trade & Investments 0
The Philippine Economic Zone Authority (PEZA) and Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) have identified four priority industries for deeper investment cooperation, as both countries seek to strengthen trade and position their economic zones as complementary gateways to regional markets.

Davao durian shipped to Oman in new trial export

Agriculture 0
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

Corporate 0
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

Transport & Logistics 0
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.

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