Category: Economic Indicators
DoF wants to wean crop insurance firm off subsidies, expand coverage
BLOOMBERG The Department of Finance (DoF), which is now overseeing the Philippine Crop Insurance Corp. (PCIC), said its goal is to make the company less…
Power spot market price falls in first 3 weeks of September
The average spot market price fell 35% month-on-month to P3.10 per kilowatt hour (/kWh) in the first three weeks of September due to improved supply,…
Wholesale price growth of general goods hits 19-month high
Wholesale price growth of general goods hit a 19-month high in July, the Philippine Statistics Authority (PSA) said Friday. Preliminary PSA data indicate that the…
SMC, gov’t break ground on P95-B Pasig river expressway project
San Miguel Corp. (SMC) and the government broke ground on the 19.37-kilometer Pasig River Expressway (PAREX) project on Friday. “PAREX will be built to accommodate…
Philippines and Korea in final stage of free trade agreement
REUTERS FREE TRADE negotiations between the Philippines and South Korea could finally be concluded within the next few weeks, Trade Undersecretary Ceferino S. Rodolfo said….
Power providers gave back almost P20 billion to consumers — ERC
DISTRIBUTION UTILITIES (DUs) and electric cooperatives have refunded a total of P20.15 billion to consumers, leading to lowering electric power rates beginning in 2020, the…
PHL capital drops to near bottom in ranking of startup ecosystems
THE Philippine capital was among the lowest-ranked in a top 100 list of emerging global startup ecosystems, according to a report from research and policy…
Upgraded GenSan airport rated at 150% of previous capacity
GES GENERAL SANTOS INTERNATIONAL AIRPORT FB PAGE THE Civil Aviation Authority of the Philippines (CAAP) said Thursday that the upgraded General Santos (GenSan) Airport can…
Energy dep’t may halt subsidies to remote areas that link to grid
THE DEPARTMENT of Energy (DoE) is proposing to halt the Universal Charge for Missionary Electrification (UC-ME) subsidy for remote areas that connect with the main…
DoE endorses plan to import 20,000 electric cars to Board of Investments
REUTERS THE DEPARTMENT of Energy said it has endorsed a P2.5-billion investment project that would bring in 20,000 imported electric vehicles. The department endorsed the…
Q4 2020 agriculture PPI rises by 4.1%
PHILIPPINE STAR/ MICHAEL VARCAS THE PRODUCER price index (PPI) for agriculture rose 4.1% in the fourth quarter of 2020, according to the Philippine Statistics Authority…
Customs seizes over 6,000 liters of unmarked fuel
PHILIPPINE STAR/ KRIZ JOHN ROSALES THE BUREAU of Customs (BoC) confiscated 6,357 liters of unmarked fuel earlier this month on suspicion of smuggling, the Department…
Deadline for petroleum reserve feasibility study set at 18 months
REUTERS THE DEPARTMENT of Energy (DoE) said Wednesday that it has allotted 18 months for a feasibility study on the proposed Strategic Petroleum Reserve (SPR)….
PHL, Vietnam could be among top RCEP beneficiaries — PIDS
THE PHILIPPINES and Vietnam could be the top gainers in terms of real gross domestic product (GDP) growth under a new 15-country Asia-Pacific trade deal,…
Legislator says taxing golf courses, subdivisions preferable to wealth tax
A SENIOR LEGISLATOR proposed Wednesday to tax the inefficient use of land, including golf courses and low-density subdivisions. Albay Rep. Jose Maria Clemente S. Salceda,…
Private school tax relief bill passes Senate on 2nd reading
PHILIPPINE STAR/ MIGUEL DE GUZMAN A BILL which makes explicit the eligibility of private schools for tax relief during the pandemic has passed in the…
Bids sought for 15-year Negros Occidental port management contract
THE Philippine Ports Authority has started soliciting bids for a port terminal management contract in Negros Occidental. The contract is for the port of Pulupandan…
Construction materials Aug. price growth in NCR at 31-month high
PHILIPPINE STAR/ MICHAEL VARCAS WHOLESALE PRICES of construction materials in Metro Manila rose 4.3% in August, the highest rate in 31 months, the Philippine Statistics…
Volumes landed at fish ports rise despite typhoons — PFDA
PHILSTAR VOLUMES unloaded at fish ports rose 5.85% week on week to 10,065.42 metric tons (MT) in the week to Sept. 12, despite recent typhoons,…
ERC orders PEMC to halt collection of congestion fees associated with Cebu-Negros cable outage
THE ENERGY Regulatory Commission (ERC) has directed the Philippine Electricity Market Corp. (PEMC) to suspend the collection of congestion charges and other fees triggered by…