Source BusinessMirror

The Norwegian government and private sector are willing to pour in more investments in the Philippines in the area of renewable energy, but the current cap on foreign ownership of companies has to be revised, Norwegian Ambassador Bjorn Jahnsen said...

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Cash remittances sent home by overseas Filipino workers (OFWs) jumped by 3.9% in April as many countries further reopened their economies and eased travel restrictions amid the ongoing pandemic...

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The Philippine central bank is likely to raise its key interest rate at its next two meetings to curb inflation, but the pace of tightening will be gradual as its incoming chief ruled out hikes bigger than 25 basis points (bps)...

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A possible escalation to Alert Level 2 in the National Capital Region (NCR) is unlikely even if cases have slowly increased, according to the Department of Health (DoH), clarifying an earlier statement it made on Monday...

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The Philippines has made the biggest peace improvement among the countries in the Asia Pacific region this year, according to the just released Global Peace Index (GPI) report, lending credence to the peace efforts of the Duterte administration which are characterized by aggressive campaigns against internal threat groups and illegal drugs...

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The Philippine Stock Exchange (PSE) has been authorized to increase the maximum subscription amount for each local small investor to more than P100,000 on a case-to-case basis to correspond with the size of the share offering...

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In order to streamline procedures in the processing of goods for transshipment and to delineate the duties and responsibilities of the different offices involved in the clearance of such goods, the Bureau of Customs (BoC) has issued Customs Memorandum Order (CMO) 15-2022 providing the rules and regulations implementing Customs Administrative Order (CAO) 12-2019 on the Transshipment of Goods...

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Amendments are needed to the Comprehensive Agrarian Reform Law that will relax the rules on land consolidation and ownership to allow the more efficient farming of larger tracts of land, the Philippine Chamber of Commerce and Industry (PCCI) said...

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President Rodrigo R. Duterte has issued an executive order (EO) abolishing the Municipal Development Fund Office (MDFO), which provides technical assistance and credit finance or grants to local government units (LGUs) pursuing sustainable socio-economic development projects...

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Members of the incoming 19th Congress should immediately pass the SIM Card Registration Bill to effectively prevent text scams, Sen. Grace Poe said yesterday...

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The Philippine National Police (PNP) on Wednesday said it will implement a gun ban for the inaugurations of President-elect Ferdinand "Bongbong" Marcos Jr. and Vice President-elect Sara Duterte-Carpio...

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Minimum wage earners across all regions, including domestic workers in most regions, will benefit from higher pay as the wage orders issued by 16 Regional Tripartite Wages and Productivity Boards (RTWPBs) take effect this month...

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The Philippines is set to boost its fruits, fishery and food exports to Korea after 24 Filipino agri-fishery and food companies joined the recently concluded Seoul Food Expo 2022 at the Korea International Exhibition Center (Kintex) in Goyang, South Korea...

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The Trade department said on Wednesday that the Philippines is ready to join the coalition to be formed by the members of the World Trade Organization (WTO) working to address the impact of climate change...

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The World Trade Organization's ministerial conference will run over into a fifth day Thursday in the hope of striking thus-far elusive deals on fishing subsidies, food security and combating Covid-19...

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The World Health Organization (WHO) said Wednesday Europe remained the epicenter of the global monkeypox outbreak, which posed a "real risk" with more than 1,500 cases reported in the region...

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More Norwegian renewable energy companies are set to invest in the Philippines which is expected to generate 50,000 high-paying jobs for Filipinos, Ambassador of Norway Bjorn Jahnsen assured President-elect Ferdinand “Bongbong” Marcos Jr. on Wednesday...

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Advisors to the U.S Food and Drug Administration on Wednesday unanimously recommended the agency authorize COVID-19 vaccines from Moderna Inc and Pfizer Inc/BioNTech for millions of the youngest American children...

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Ministers were frantically haggling through the night into Thursday at the World Trade Organization in a bid to salvage deals on food security, fishing and combating Covid-19...

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The relationship between the Philippines and the United States remains vibrant and strong amid episodic differences...

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The US Federal Reserve announced the most aggressive interest rate increase in nearly 30 years on Wednesday, and said it is prepared to do so again next month in an all-out battle to drive down surging inflation...

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The Philippines has urged World Trade Organization (WTO) members to agree on a trade and health package, including a waiver for at least Covid-19 vaccines, while stressing the need to pursue a decentralized and more widespread global manufacturing not only vaccines but also therapeutics to address the current and future pandemics...

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China will not compromise on Taiwan, even at the expense of another civil war and while the world still battles two simultaneous wars—the Covid-19 pandemic and Russian invasion of Ukraine...

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Marlon Tobias, 33, rushed to buy a book about the late dictator Ferdinand E. Marcos and his martial rule after his son and namesake won the presidential election by a landslide on May 9...

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The Fiscal Incentives Review Board (FIRB) said the Philippine Economic Zone Authority (PEZA) has inadequately accounted for the investments brought in by its locators and cannot provide complete data on some companies’ operations...

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The Department of Health (DoH) said that the administration of Covid-19 vaccine booster shots will always be based on science as it warned the public on the rising number of infections in the National Capital Region...

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Persons who have tested positive for COVID-19 and those with pre-existing medical conditions such as diabetes can become blood donors, a health expert said yesterday...

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The Manila city government has surpassed its immunization target for children against vaccine-preventable diseases...

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It would be 'risky' for local government units to enforce the lifting of mask mandates against coronavirus disease 2019 (Covid-19) especially that there are reported case increases in select parts of the country, according to a top official of the Department of Health...

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More Filipinos are expected to suffer from severe and critical coronavirus infections by August amid lax health protocols, slow booster uptake and the entry of more contagious Omicron variants, according to the Department of Health (DoH)...

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President Rodrigo R. Duterte’s deadly war on drugs was largely successful despite “excesses” committed by rogue cops, according to his Justice chief...

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Despite the delayed distribution of the first tranche of the fuel subsidy, the Land Transportation Franchising and Regulatory Board (LTFRB) has committed to a faster release of the second batch of the P6,500 cash grant meant to cushion the impact of the oil price hike to transport workers...

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The number of child laborers in the country dropped by 70 percent in 2020 compared to about a decade ago despite the onset of the pandemic, according to the Department of Labor and Employment (DOLE)...

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The Philippines will likely remain open to foreign leisure travelers despite the rising local cases of Covid-19 and concerns raised by some tourism stakeholders...

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The Philippine automotive industry is confident that recovery is underway after vehicle sales rose by 19.5% in May...

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Insurance claims related to coronavirus disease 2019 (COVID-19) paid out by the industry reached P2.93 billion in the first quarter, based on a study conducted by the Insurance Commission (IC) to assess the impact of the pandemic on the sector...

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The vital agriculture sector remains to be the smallest contributor to the economic growth among the major industries in the country, according to the Philippine Statistics Authority (PSA)...

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Outgoing President Duterte’s economic team has pushed for the revival of the mining industry—sidelined these past few years by the lack of a fiscal regime as well as policy continuity—to generate more jobs and develop rural areas hosting mines...

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The IT and Business Process Association of the Philippines (IBPAP), whose member-business process outsourcing (BPO) firms earn dollars for the country while generating thousands of new jobs, on Wednesday refuted claims that tax incentives are no longer needed for them to thrive...

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Accelerating inflation plus the aggressive monetary tightening stance of major central banks are seen pushing the Bangko Sentral ng Pilipinas (BSP) to soon increase its key rate by increments of more than 25 basis points (bps), according to ING Bank...

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The benchmark Philippine Stock Exchange index (PSEi) dropped below the 6,400 level after Wednesday’s trading session bloodbath as investors fled the market ahead of the Federal Reserves’ policy decision that is expected to result in a large rate hike to combat surging US inflation...

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Cash sent home by overseas Filipino workers (OFWs) went up by 3.8 percent to $2.67 billion in April from $2.57 billion a year ago, buoyed by remittances from land-based workers with long-term contracts, the Bangko Sentral ng Pilipinas (BSP) said...

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