MANILA, Philippines — Pilipinas Shell Petroleum Corp. (PSPC) has secured approval from its stockholders to pursue growth of its non-fuels retail (NFR) segment as well as proceed with the planned change in its corporate name. PSPC said its stockholders approved the amendment of the second article, secondary purpose of the company’s articles of incorporation to […]
Read MoreMANILA, Philippines — The government expects to release its policy on zero tariffs on electric vehicle (EVs) imports by the end of this year, according to an official of the Department of Energy (DOE). In a pre-event press conference for the 10th Philippine Electric Vehicle Summit (PEVS), DOE director Patrick Aquino affirmed that there are […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) remains optimistic on Philippine economic growth this year as it sticks to its gross domestic product (GDP) and inflation forecasts, despite the continued depreciation of the local currency and damage caused by Super Typhoon Karding. “We are not looking at any significant changes to the outlook that […]
Read MoreMANILA, Philippines — The Philippines is now open for business, President Ferdinand Marcos Jr. said Wednesday, as he vowed to attend to the needs of investors to encourage them to come to the country. Speaking during the opening of the new terminal building of the Clark International Airport, Marcos said it is time to […]
Read MoreMANILA, Philippines — The World Bank has raised its growth forecast for the Philippines this year, citing strong recovery in consumption. In the East Asia and the Pacific Economic Update October 2022 report released yesterday, the World Bank now expects the country’s gross domestic product (GDP) growth at 6.5 percent for this year, up from […]
Read MoreMANILA, Philippines — The surging dollar beat the peso into submission as the US Federal Reserve’s rate hike continues to reign king in global markets. The local currency’s finish on Tuesday, at P58.99 against the greenback, was weaker than its previous close of P58.5, marking a new record-low. That said, the peso’s decline kept pace […]
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