MANILA, Philippines — The country’s manufacturing output continued to improve, although still at a slower pace in December, bringing full-year 2021 growth to a significant recovery from a decline a year earlier. Factory output, as measured by the Volume of Production Index (VoPI), went up by 17.9 percent in December, slower than the 25.8 percent […]
Read MoreMANILA, Philippines — Amendments to the Public Service Act (PSA) will pave the way for attracting more investments and bring the country closer to economic recovery, according to the Department of Trade and Industry. DTI Secretary and Board of Investments chairman Ramon Lopez yesterday lauded Congress for its approval of the proposed measure, which forms […]
Read MoreMANILA, Philippines — The government collected about P19 billion worth of import duties from rice shipments last year, the Bureau of Customs (BOC) said. In a report yesterday, the BOC said its tariff collection from rice imports improved by 22 percent to P18.9 billion in 2021 from P15.5 billion in 2020, exceeding anew the budget […]
Read MoreMANILA, Philippines — A repeat of the sharp depreciation of the peso in 2018 is possible this year, especially after the May 9 polls due to the tightening cycle of the US Federal Reserve and the country’s widening trade deficit, according to ANZ Research. In a report, ANZ head of research for Asia Khoon Goh […]
Read MoreMANILA: The Philippines plans to import 200,000 tonnes of standard and bottler’s grade refined sugar to address a supply shortfall caused by crop damage from a powerful typhoon that hit plantations in December, the industry regulator said on Tuesday. The Sugar Regulatory Administration (SRA), in a statement, said the Philippines was bracing for a “very […]
Read MoreMANILA, Philippines — The Philippines would have to ramp up its innovation strategies to ensure sustained upgrade of its goal toward a higha-income country status. Socioeconomic Planning Secretary Karl Chua, as chair of the first National Innovation Council (NIC) meeting, emphasized the need to promote innovative solutions and raise the country’s overall productivity. Chua said […]
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