Money
PLDT, Accenture Philippines team up to build digital factory
PLDT Inc.’s data arm Kayana Solutions Inc., formerly known as DigiCo, has partnered with Accenture Philippines for the establishment of a digital factory that will initially cater to the MVP Group, but will eventually become an open platform. Under the partnership, Accenture will oversee brand strategy, product research, and user interface (UI) and user experience (UX) design for Kayana through Song, its tech-powered creative group, addressing...
MoneyElon Musk's Tesla officially launches in PH
American carmaker Tesla has officially rolled out to Philippine roads on Friday as it joins the electric vehicle race in the country. “Tesla has a presence in about 50 countries around the world […] We pick our presences. So I pick the Philippines is the next new market in the world,” said Tesla regional director Isabel Fan. The Model 3 and Model Y are now available for order online via Tesla's official website and will be delivered to the...
MoneyOver P1/liter hike in fuel prices seen next week
Pump prices of petroleum products are expected to increase next week, according to the Department of Energy (DOE) on Friday. The estimates are as follows: Gasoline - P1.10 to P1.40 Diesel - P1.70 to P1.90 Kerosene - P1.10 to P1.20 DOE Oil Industry Management Bureau Director III Rodela Romero said the estimates are based on the four-day international trading. Romero said the oil prices increased for the past four days as the storm is expected to...
MoneyImee Marcos hits BSP decision to sell gold reserves
Senator Imee Marcos on Wednesday grilled the administration's economic managers over the Bangko Sentral ng Pilipinas' (BSP) decision to sell 24.95 tonnes of gold in the first half of 2024. Marcos said this is contrary to what other countries doing, which is to stock more gold reserves. "Abala ang marami po sa atin, sa ating mamamayan pati ang ating mga bangkero pagkat ang ibang bansa bumibili ng ginto, bakit daw tayo biglang nagbabagsak at...
MoneyCebu Pacific rolls out P99 promo fares
Gokongwei-led budget carrier Cebu Pacific on Monday announced promotional one-way base fares as low as P99 for local destinations with over 750,000 seats to be made available to the public. The promotional fares will be available from Monday, November 4, until Thursday, November 7, covering all of Cebu Pacific’s domestic destinations. It will cover flights from January 1, 2025 to March 31, 2025. Cebu Pacific said travelers can use their existing...
MoneyGasoline, diesel, kerosene pump prices up Tuesday
Motorists will have to pay more for petroleum products this week, as firms on Monday announced another round of pump price hikes following last week's rollback. In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Corp., Shell Pilipinas Corp., and Unioil Petroleum Philippines Inc. said they will increase prices per liter of gasoline by P0.20, diesel by P0.50, and kerosene by P0.50. Cleanfuel and...
MoneyDigiPlus expands R&D team amid growing appetite for digital gaming
Listed gaming tech company DigiPlus Interactive Corp., the company behind BingoPlus and ArenaPlus, on Thursday said it is further expanding its position in the digital gaming space with the expansion of its research and development (R&D) team. In a statement, DigiPlus said that since last year it has “expanded its Local Development Team by over 200%, with plans to double that growth by year’s end.” The company said it has poured resources into...
MoneyMalampaya Phase 4 gets 'national significance' certification
Razon-led Prime Energy Resources Development B.V.’s plan to drill new deepwater wells at the Malampaya gas field has received a certification that would pave the way for faster regulatory approvals of the project. In a statement on Wednesday, Prime Energy, the operator of the Malampaya natural gas facility, said the Malampaya Phase 4 project has secured the Energy Project of National Significance (EPNS) certification from the DOE. EPNS refers to...
MoneyGroup: Employees have 'right to refuse' work in dangerous scenarios
Amid the onslaught of Severe Tropical Storm Kristine in Luzon, a labor group reminded employers that employees have the "right to refuse" to work due to imminent danger. “As we enter the season prone to extreme weather conditions, it is vital that all employers remain mindful of the safety and welfare of their workers,” the Federation of Freedom Workers (FFW) said in a statement on Thursday. The group cited the Occupational Safety and Health Law...
MoneyPrice of tomatoes triples at Mangaldan market; now P120/kilo
The price of of tomatoes at the Mangaldan Public Market in Pangasinan has skyrocketed to P120 per kilo, a sharp increase from just P30 per kilo a week ago. Eva Nudo, a vendor, said the heavy rains in recent weeks caused a shortage in supply. “Mataas ang presyo ng kamatis, sobra, kasi noong bumagyo, nasira na, kaya ngayon sobrang taas, kaunti ang suplay,” she said. Most of the tomatoes sold in Urdaneta City’s Bagsakan Market now come from Nueva...
MoneySeven Filipinas included in Fortune's Most Powerful Women Asia 2024 List
Seven Filipinas made it to the Fortune Most Powerful Women Asia list for 2024, representing 100 female executives across a spectrum of industries in the Asia Pacific region. According to Fortune, over half of the listees are chief executive officers across the Fortune 500 and Global 500, with 26 newcomers including players in artificial intelligence, unicorn founders, and chief financial officers (CFOs). Below are the women from the Philippines...
MoneySSS chief Rolando Macasaet steps down
Rolando Macasaet has stepped down as president and chief executive officer (CEO) of state-run pension fund Social Security System (SSS), the agency announced on Sunday. SSS said Macasaet stepped down from his position effective Sunday, October 6, 2024, after 19 months with the agency since taking the helm on January 5, 2023. The agency did not provide further details as to Macasaet’s departure, and to who will take over in the interim. Macasaet...
MoneyIPOs seen surging in 2025 amid rate cuts
The number of companies raising capital by offering its stocks to the investing public is expected to have a surge next year as the capital market's allure received a boost following the recent monetary easing. At the sidelines of the Economic Journalists Association of the Philippines-AboitizPower Renewable Energy Forum in Makati City, BDO Capital and Investment Corporation president Eduardo Francisco told reporters that at least 10 companies...
MoneyInflation eases further to 1.9% in September
The country’s inflation rate continued its deceleration streak for the second straight month in September, marking its slowest footing in over four years, amid slowdown of growth in food and transportation costs, the Philippine Statistics Authority (PSA) reported on Friday. At a press conference, National Statistician and PSA chief Claire Dennis Mapa said that inflation —which measures the rate of increase in the prices of goods and services—...
MoneyMajority of Filipinos get side jobs to boost income —study
Majority of Filipinos are taking on extra work or starting a business to be able to augment their income, according to the latest Shopperscope study of marketing and data analytics firm Kantar. The annual study, taking into consideration input from 2,000 households across the Philippines from February to April this year, shows that 73% or seven out of 10 Filipinos say they are “managing” their resources. “Despite the challenges, Filipinos who...
Money