Gasoline prices to be slashed by 70 centavos/liter, diesel by 95 centavos/liter

Meg J. Adonis - @inquirerdotnet 02/26/2024

MANILA, Philippines — Cuts in the prices of fuel on Tuesday, February 27, will somehow ease the hurt of motorists pockets after the hefty price hikes implemented last week. Gasoline prices will be slashed by 70 centavos…

Aboitiz, partner seal P100-B buyout of Coca-Cola Philippines

Miguel Camus 02/24/2024

MANILA, Philippines —The Aboitiz Group and its European partner completed on Friday their P100-billion buyout of Coca-Cola’s Philippine unit, adding the popular brand to their investment portfolio. Aboitiz Equity Ventures Inc. (AEV) bought 40 percent of Coca-Cola…

Nestle, Danone see price hikes slowing after years of sharp increases

02/23/2024

LONDON/PARIS (Reuters) -Two of the world’s top consumer goods companies, Danone and Nestle, said on Thursday they will slow price increases in 2024 after two years of hikes that prompted many shoppers to seek cheaper alternatives for…

Bullish outlook: PSEi seen to hit 7,200 by year-end

Meg J. Adonis 02/23/2024

MANILA, Philippines —The Philippine Stock Exchange Index (PSEi) will rise significantly this year due to anticipated interest rate cuts, leading to better company profits, the chief investment officer of Sun Life Investment Management and Trust Corp. said.…

Group asks DTI to thoroughly inspect imported cement

Niña Mae C. Oliverio 02/20/2024

CEBU CITY, Philippines — A group of cement manufacturers warns providers of imported cement to be compliant with the Department of Trade and Industry (DTI)’s administrative order (DAO). In a statement sent by the Cement Manufacturers Association…

Fuel prices: Big time hikes for gasoline, diesel start Tuesday

Meg J. Adonis - @inquirerdotnet 02/19/2024

MANILA, Philippines — Local oil firms have announced big-time increases in the pump prices of petroleum products effective on Tuesday, February 20, and this means that the small reprieve granted to motorists last week will be short-lived.…

Plane ticket prices set to soar in March as fuel surcharge hike looms

Tyrone Jasper C. Piad 02/19/2024

Passengers will soon pay higher prices for plane tickets as the fuel surcharge is set to increase next month. The Civil Aeronautics Board (CAB) recently announced in an advisory that the fuel surcharge will rise from Level…

‘Sari-sari’ stores hit P8 billion in 2023 sales – report

Alden M. Monzon 02/18/2024

MANILA —Sari-sari stores in the Philippines, often called neighborhood variety stores, made over P8 billion in sales in 2023, up by more than a fifth from the previous year. A report by Packworks, an analytics startup, showed…

PH OKs revised Asean free trade pacts with ANZ, Hong Kong

Alden M. Monzon 02/16/2024

MANILA — The Philippines, a founding member of Association of Southeast Asian Nations (Asean), has agreed to amend two important free trade agreements to benefit investors, traders, and exporters. The Department of Trade and Industry (DTI) announced…

Japan recession: Scaled back spending helps push economy to where it is now

Reuters 02/16/2024

TOKYO — To grasp the dynamics that bumped Japan into recession and off its perch as the world’s third largest economy on Thursday, look no further than Risa Shinkawa’s dining habits. Unlike unionised workers at big manufacturers…

Remittances soar to P33.5 billion in 2023 – BSP

Ian Nicolas P. Cigaral 02/16/2024

MANILA, Philippines — Filipinos abroad sent a record amount of money back home in 2023 as remittances hit $33.5 billion, boosted by a stronger peso. This increase in the value of remittances helped households cope with high…

South Korea prepares $57 billion corporate financial support programme

02/15/2024

SEOUL (Reuters) – South Korea has prepared a financial support programme of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates.…

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