Business

gasoline

Slashing the prices of gasoline and kerosene down by P1.25 and 30 centavos per liter, additional oil companies amended their pump prices on Monday. Flying V, Petron and PTT Philippines stated they would implement the price cut at 6 a.m. on May 14. Petro Gazz and Pilipinas Shell added they would also adjust pump price today. Phoenix Petroleum was earliest to alter its pump prices on Saturday, lowering the cost

economy

Malacañang uttered confidence the Philippine economy will still reach the government target of 6 to 7 percent growth by the end of 2019 as seen that the budget impasse has been resolved. Philippine economy cultivated at its slowest pace in 4 years, missing forecasts, pulled by a delay in the enactment of the P3.7-trillion national budget, officials stated Thursday. Salvador Panelo stated President Rodrigo Duterte and the other members of

airport

Manila International Airport Authority (MIAA) general manager Ed Monreal has ordered MIAA police authorities to ban the entire fleet of Davis Taxi at all Ninoy Aquino International Airport (NAIA) terminals. This comes after one of the fleet’s drivers went viral online for charging a pair of Austrian vloggers extra for pieces of luggage the two had with them. As frequent Philippine visitors, the vloggers knew this was unusual and refused

Carlos Dominguez

A head of President Rodrigo Duterte’s economic team said Wednesday that the S&P Global’s upgrade of the Philippines’ credit rating is a “green light” for more investments in the country. Finance Secretary Carlos Dominguez stated that the upgrade to one notch below the minimum “A” rating will allow the government and Filipino companies to borrow at lower interest. Adding it was a “definitive win” for the government, “The upgrade is

building

The Ayala conglomerate plans to is invest of about P2 billion in building what is advertised to be the country’s first wide-ranging cancer specialty hospital intended to provide high-quality cancer treatment at affordable prices. A 100-bed cancer hospital will be a specific center, equipped with diagnostic equipment, chemotherapy facilities, linear accelerators for advanced radiation therapy, and operating rooms for the specialist surgeons. Apart from offering a comprehensive range of services,

PSEi

Stock market bounced back to the 7,900 level on Tuesday as investors applauded news of the easing inflation for April. Philippine Stock Exchange index (PSEi) risen by 0.62 percent or 48.33 points to close at 7,910.63 while the broader All Shares grew by 0.55 percent or 26.69 points to end at 4,886.55. P2P Trade Online sales associate Gabriel Jose Perez perceived inflation as having buoyed the index. The Philippine Statistics

Budget

The nation aims to speed up state spending growth to about 15 percent in the months ahead after a contraction in the first quarter due to a budget delay. Budget Assistant Secretary Rolando Toledo, 55, said in an interview on Thursday, “We’re confident the implementation of the catch-up plan will help boost growth,” Government agencies are to submit revised monthly spending plans including “shovel ready” projects as the department maps

Department of Finance

Department of Finance (DOF) urges the private sector to participate in more infrastructure projects aimed at improving the country’s ports and building more terminals around the country. Finance Secretary Carlos G. Dominguez III encouraged Asian Terminals Inc. (ATI) and its shareholder Dubai’s DP World to participate in the infrastructure projects of the government during a speech on Monday at the inauguration of Berth 2 of the Batangas Container Terminal (BCT).

agriculture

Now among the world’s top agri-tourism destinations after the Agri sector’s campaign for more revenue streams for farmers, according to a research group. The Southeast Asian Regional Center for graduate Study & Research in Agriculture (Searca) in a statement said the country was now side by side with other agro-tourism sites all over the world which includes Taiwan, Hawaii, Tuscany, Mallorca, California and Brazil. During the Global Farm Tourism Summit

construction

The country comes closer to securing a single-A credit rating from Japanese Credit Rating (JCR) Agency, after the debt watcher raised its outlook on the country to BBB+ positive from BBB+ stable. A statement showed the government’s Investor Relations Office (IRO) noted JCR upgraded the outlook on the Philippines because of the “government’s twin efforts to accelerate infrastructure development and boost revenues through tax reform.” “JCR’s BBB+ rating with positive