Philippines Report

Browsing the "Business" Category

JTI expanding PH operation

JTI expanding PH operation

Global tobacco company Japan Tobacco International (JTI) vowed to continue investing in the Philippines, including a substantial capital expenditure for next year, hiring of additional workers for its Global Business Service (GBS) center, and potential production of its heated e-cigarettes [...]

October 4, 2022 Business
CCLEX to still accept cash on Oct. 1, continue dry run

CCLEX to still accept cash on Oct. 1, continue dry run

On Oct. 1, those who don’t have radio frequency identification (RFID) stickers in their cars or motorcycles can still use the Cebu-Cordova Link Expressway (CCLEX), as the management has postponed the start of the implementation of the full cashless toll [...]

October 1, 2022 Business
Senate to weigh business concerns on banning POGOs

Senate to weigh business concerns on banning POGOs

Senators on Tuesday said they would consider the concerns from the business sector regarding a possible ban on Philippine offshore gaming operators (POGOs). Sen. Sherwin Gatchalian said the Senate committee on ways and means, which he heads, will set a [...]

September 28, 2022 Business
No permit yet for Excelerate LNG project – DOE

No permit yet for Excelerate LNG project – DOE

The Department of Energy (DOE) said it has not approved yet the application of US firm Excelerate Energy for a permit to construct, expand, rehabilitate and modify (PECRM), which serves as the second-stage requirement for it to advance its proposed [...]

September 28, 2022 Business
$150-M domestic submarine cable reaches Siargao

$150-M domestic submarine cable reaches Siargao

The $150-million Philippine Domestic Submarine Cable Network (PDSCN), the country’s longest domestic submarine fiber cable project, has landed on the shores of Siargao to boost the island’s recovery after Typhoon Odette and the prolonged pandemic. The 2,500 kilometer PDSCN, a [...]

September 23, 2022 Business
SSS nixes more job cuts

SSS nixes more job cuts

State-run pension fund Social Security System (SSS) said there would be no more job losses even as the government moves forward with its plan to rightsize the bureaucracy. SSS president and CEO Michael Regino said the rightsizing bill, which is [...]

September 21, 2022 Business
Visayan Electric continues to clear toppled posts, bundle ‘spaghetti wires’

Visayan Electric continues to clear toppled posts, bundle ‘spaghetti wires’

The Visayan Electric Company continues to secure posts and wires that were affected by super typhoon Odette in December last year. Raul Lucero, president and chief executive officer of Visayas Electric, said the cleanup had to take a backseat as [...]

September 20, 2022 Business
Online sales of untaxed vaping products hit

Online sales of untaxed vaping products hit

A lawmaker demanded that the Department of Trade and Industry run after untaxed, imported vaping products that are being passed off as “toys” and “electronics” on online selling platforms. Albay Rep. Joey Salceda, chair of the House ways and means [...]

September 17, 2022 Business
Stocks slump, dollar jumps as US inflation runs hot

Stocks slump, dollar jumps as US inflation runs hot

Stock markets hit reverse while the dollar shot higher Tuesday after data showing US inflation remains high and widespread. Wall Street shares plunged, with the Dow losing nearly 1,300 points and the S&P 500 falling 4.3 percent, after the hotter-than-expected [...]

September 14, 2022 Business
Only P5 billion raised from T-bill auction; rates rise

Only P5 billion raised from T-bill auction; rates rise

The government only made a partial award of P5 billion in short-dated Treasury bills (T-bills) as investors continue to demand higher yields. Results were mixed during yesterday’s T-bills auction as the Bureau of the Treasury made a partial award of [...]

September 13, 2022 Business