Category: Business
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Maharlika Investment Corporation Approves $76.4 Million Loan for Makilala Mining’s MCB Project
The Maharlika Investment Corporation (MIC) has finalized a $76.4 million bridge loan agreement to support the initial stages of the Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project. The MIC announced on Monday that the funds will be utilized to enhance Makilala Mining’s feasibility study and front-end engineering design, build a primary access road in collaboration with the Kalinga…
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Apple Accelerates U.S. Expansion with $500 Billion Investment, 20,000 New Jobs Planned
Apple has announced plans to invest more than $500 billion in the United States over the next four years—a move that will create 20,000 new jobs. The tech giant’s unprecedented commitment comes at a time when companies are scrambling to lead in the race for advanced artificial intelligence technologies. The shift to ramp up domestic…
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Philippine Stocks Stagnant, Peso Gains Ground Against Dollar
In Manila, the Philippine stock market concluded the day with minimal changes, while the peso saw a notable appreciation against the US dollar. The Philippine Stock Exchange index (PSEi) experienced a slight decline of 0.03 percent, closing at 6,095.97. Similarly, the All Shares index dropped by 0.14 percent to 3,655. According to Luis Limlingan, head…
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Philippines Shatters Records with PHP1.9 Trillion in Investment Pledges for 2024!
In a stunning economic milestone, the Philippines has soared to new heights with a record-breaking PHP1.9 trillion in approved investment pledges for 2024. The Board of Investments (BOI) announced this monumental achievement on February 24, 2025, highlighting the Marcos administration’s successful strategy to elevate the country as a top-tier investment hub. This surge represents a…
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Philippine Treasury Fully Allocates T-bill Auction Amid Rising Yields
In Manila, the Bureau of the Treasury (BTr) successfully met all bids for Treasury bills (T-bills) in Monday’s auction. The auction saw 91-day, 182-day, and 364-day T-bills being sold at average rates of 5.329 percent, 5.672 percent, and 5.754 percent, respectively. These rates show a slight increase from the previous week’s averages of 5.318 percent,…
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Philippine Central Bank Solely Manages National Gold Reserves
MANILA – The Bangko Sentral ng Pilipinas (BSP) announced on Monday that it exclusively manages the Philippines’ gross international reserves (GIR), which include gold. The central bank’s primary goal is to ensure the stability and convertibility of the Philippine peso and to fulfill any anticipated foreign currency demands. The BSP emphasized that the GIR is…
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Fuel Prices Set to Rise from Tuesday, Oil Companies Announce
MANILA – Several oil companies have declared an upcoming increase in fuel prices effective Tuesday. In their respective announcements made on Monday, companies such as Petro Gazz, Seaoil, CleanFuel, Shell, and Caltex revealed plans to raise gasoline prices by 70 centavos per liter and diesel by 40 centavos per liter. Additionally, Seaoil, Shell, and Caltex…
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BIR to Annihilate PHP2.1 Billion in Illicit Cigarettes Across the Philippines
The Bureau of Internal Revenue (BIR) has announced plans to obliterate PHP2.1 billion worth of illegal cigarettes at 12 different locations from February 24 to 28, 2025. This massive operation will see the destruction of 14.3 million packs of illicit cigarettes, which carry a tax liability of PHP6.4 billion, along with the machines used to…
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Philippine Stock Market Sees Slight Rise, Peso Remains Steady
In the final trading session of the week, the Philippine Stock Exchange index (PSEi) experienced a modest increase, closing at 6,098.04 points, up by 0.52 percent. Despite this, the overall All Shares index saw a decline of 0.31 percent, ending at 3,660.28 points. Luis Limlingan, head of sales at Regina Capital Development Corp., noted that…
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Philippines and Australia Strengthen Development Partnership
In a significant move to bolster their bilateral relations, the Philippines and Australia have recommitted to their development partnership. The National Economic and Development Authority (NEDA) in Manila announced that the inaugural Philippines-Australia High-Level Consultations on Development took place on February 18 at the NEDA Central Office in Mandaluyong City. This meeting was a key…
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