100% foreign ownership rules seen easing Abu Dhabi oil company’s PHL expansion
THE PHILIPPINES is “ready and open” for major foreign oil companies, including Abu Dhabi National Oil Co. (ADNOC), seeking to expand their presence in...
PEZA obtains manufacturing, aerospace investment pledges during US mission
THE Philippine Economic Zone Authority (PEZA) said it obtained investment commitments from manufacturing, aerospace, pharmaceutical, and information technology and business process management (IT-BPM) companies...
Visayas power issues stem from dependence on other grids — DoE
THE Department of Energy (DoE) said it is expecting power issues in the Visayas due to its dependence on other grids for supply.
In the...
Philippine FDI net inflows plunge nearly 40% in October
NET INFLOWS of foreign direct investments (FDI) into the Philippines plunged nearly 40% year on year in October, as foreigners’ net investments in debt instruments slumped.
Philippines inks FTA with UAE
THE PHILIPPINES and the United Arab Emirates (UAE) signed on Tuesday a landmark free trade agreement (FTA) which is expected to boost Philippine exports...
Philippines targets 4.3% of GDP for infrastructure spending this year
THE DEPARTMENT of Budget and Management (DBM) cut its infrastructure spending target to 4.3% of gross domestic product (GDP) this year from 5.1% previously, as a corruption scandal weighed on government spending and economic growth last year.
Solar Philippines faces P24-B penalties over terminated RE contracts
SOLAR PHILIPPINES Power Project Holdings, Inc. is facing P24 billion in fines for its failure to deliver nearly 12,000 megawatts (MW) of renewable energy...
Peso weakens further on geopolitical risks
THE PESO weakened further on Tuesday to end near its record low following fresh tariff threats from US President Donald J. Trump and rising...
Stocks go down on profit taking before US data
PHILIPPINE STOCKS ended lower on Tuesday as investors pocketed their gains following the market’s three-day climb and awaited the release of key US data...
Infra spending, consumption expected to stay weak — HSBC
THE ECONOMY may struggle to reach its potential this year as the flood control corruption scandal continues to dampen infrastructure spending, with corresponding spillover...
Farmers yet to feel benefits of improved agricultural trade balance, analysts say
THE Philippines’ agricultural trade deficit narrowed to a 21-month low in November, driven by a surge in exports and a pullback in imports, but analysts said the improvements have yet to trickle down to farmers, who continue to grapple with persistently low farmgate prices.
NIA launches Swiss challenge for First Gen’s 120-MW Nueva Ecija pumped-storage project
THE National Irrigation Administration (NIA) is inviting counter-proposals for a Swiss challenge to the 120-megawatt (MW) Aya Pumped-Storage Project at the Pantabangan Dam complex...