Money
Gasoline, diesel, kerosene prices set for 4th straight week of hikes
Another round of price hikes on petroleum products is expected next week, which could mark the fourth consecutive week of increases in pump prices. Gasoline - Up by P1.25 - P1.50. Diesel - Up by P0.40 to P0.60 Kerosene - Up by P0.60 to P0.80 This was the Department of Energy-Oil Industry's estimate based on oil trading over the past four days. “Geopolitical tensions in the Middle East, an unexpectedly large withdrawals in the US crude...
MoneyDTI releases price guide for school supplies
The Department of Trade and Industry (DTI) on Wednesday released a price guide for school items in time for the opening of the new school year later this month. In a statement, the DTI said its “Gabay sa Pamimili ng School Supplies” serves as a price guide for consumers in purchasing school items. They are as follows: Notebook P11.80 - P52.00 Grades 1-4 pad paper P9.50 - P61.00 Intermediate pad paper P13.80 - P48.75 Pencils P11.00 - P33.00...
MoneyMarcos OKs proposed P6.352-T national budget for 2025
President Ferdinand “Bongbong” Marcos Jr. has approved the proposed P6.352-trillion National Expenditure Program (NEP) for 2025, the Presidential Communications Office (PCO) said Tuesday. In a statement, the PCO said this would support the key pillars of the administration’s Philippine Development Plan 2023-2028. “You see a really good thing,” Marcos said in a Cabinet meeting in Malacañang where Budget Secretary Amenah Pangandaman presented the...
MoneyJollibee Foods to acquire majority share in South Korea's Compose Coffee
Homegrown fast-food giant Jollibee Foods Corp. (JFC) on Tuesday inked definitive agreements to acquire a majority shareholding in South Korean coffee chain Compose Coffee for a total consideration of $340 million. In a statement, JFC said it would acquire 70% in Compose Coffee Co. Ltd. and JMCF Co. Ltd., collectively called Compose Coffee, through its subsidiary Jollibee Worldwide Pte. Ltd. Compose Coffee was ranked first in the industry for...
MoneyMeralco to send 5 scholars to US, China for nuclear engineering program
The Manila Electric Company (Meralco) is set to send five engineer scholars to the United States and China, as part of the pilot batch of its Filipino Scholars and Interns on Nuclear Engineering (FISSION) program. The pilot batch of the two-year program are Amiela Nicodemus and Gener Atienza who are to start the program at the University of Illinois Urbana-Champaign in the United States of America; and Kenneth Tulagan, Mark Justin Salas, and...
MoneyDali reports P3.26 billion in losses over 3 years
Retailer Dali Everyday Grocery has incurred successive losses amounting to P3.26 billion three years since opening its first store in the Philippines, the company said in a financial statement filed with the Securities and Exchange Commission. Hard Discount Philippines Inc., (HDPI), the corporate entity behind Dali, reported a P1.88 billion loss, which was a 110% increase compared to the P894.68 million loss reported in 2022. Dali has incurred a...
MoneySSS: Start saving for retirement via pension booster for only P500
The State-run Social Security System (SSS) on Friday urged members to start saving for their retirement under its reintroduced savings program which can yield a higher annual return. In a statement, SSS president and CEO Roloand Macasaet said members can voluntarily enroll in the MySSS Pension Booster program for only P500. “And they can contribute any amount anytime because there is no limit on the amount they can invest,” he said. For the...
MoneyFuel prices seen to go up for third straight week
Motorists should expect another round of increase in fuel pump prices in the coming week, which could mark the third straight week of upward adjustments. Citing international oil trading in the past four days, Department of Energy-Oil Industry Management Bureau Director III Rodela Romero said that “prices of petroleum products will increase by less than one peso for next week, July 2, 2024.” The estimated range of per liter price adjustments are...
MoneyNGCP seeks full recovery of P87.9B investment in completing 2 major projects
Systems operator National Grid Corporation of the Philippines (NGCP) is seeking regulatory approval for it to recover the full cost it invested to complete and energize two major transmission line projects. At a press briefing in San Juan City on Wednesday, NGCP spokesperson Cynthia Alabanza disclosed that the grid operator’s total investment for the Mariveles-Hermosa-San Jose (MHSJ) and the Cebu-Negros-Panay (CNP) transmission lines reached...
MoneyDA chief mulls more fish harvest control to revive 'overexploited' seas
Agriculture Secretary Francisco Tiu Laurel Jr. on Tuesday raised the possibility of further enhancing fish harvest control as he noted that the country’s fisheries resources are nearly depleted. "For deep sea fisheries, commercial fisheries like galunggong, sardines, unfortunately, I have to say we have to relax or reduce fishing efforts because it’s nearly depleted and overexploited,” Tiu Laurel said at a news forum in Taguig City. “In order to...
MoneyYamaha introduces 'PG-1' to PH market
Yamaha Motor Philippines recently launched the PG-1 that is designed for "rugged performance" meant to ease through asphalt and outdoor terrains. Powered by an 115CC FI engine, the PG-1 "gives a balance of torquey performance, ease of use, and low fuel consumption." Yamaha said that this is a result of an optimized design for the combustion chamber and the intake and exhaust systems. The Constant Mesh, 4-Speed transmission is complemented by the...
MoneyBIR removes 5-year expiration of eCAR
The Bureau of Internal Revenue (BIR) has removed the five-year validity period of Electronic Certificate Authorizing Registration (eCAR) to ease the burden of taxpayers in the sale, donation, or transfer of properties. In a statement on Tuesday, the BIR said Internal Revenue Commissioner Romeo Lumagui Jr. issued Revenue Regulations No. 12-2024 (RR No. 12-2024). Under RR No. 12-2024, the taxman extended the validity of eCAR until it is presented...
MoneySan Miguel to push through with Pasig River Expressway
Diversified conglomerate San Miguel Corp. (SMC) has notified the government that it will comply with requirements to proceed with the Pasig River Expressway (PAREX), which was previously dropped due to public concerns. According to Toll Regulatory Board (TRB) executive director Alvin Carullo, SMC has communicated that it will comply with the requirements for the 19.37-kilometer, six-lane elevated road that would run along the banks of the Pasig...
MoneyBDO: Withdrawals made from account of viral passbook holder valid
BDO Unibank Inc. on Monday said withdrawals made under the account of Gleen Cañete, who went viral online after saying some P345,000 was taken from his account, were found to be valid. In a statement, BDO said it has been able to account for the withdrawals that were recounted by Cañete in a now-deleted video he posted online, saying that it was only a passbook account, and that there were no online accounts and cards associated with it. “Please...
MoneyDA: Modified duty rates to lower imported rice prices by P6 to P7
The Department of Agriculture said on Saturday that the executive order modifying the import duty rates of various commodities would reduce imported rice prices by P6 to P7. “Ini-expect natin, ayon na rin sa unang pagtaya ng Philippine Statistics Authority (PSA), na bababa ang halaga ng imported na bigas from six to seven pesos because of this tariff reduction,” DA Assistant Secretary Arnel de Mesa said in a news forum. (We expect, based on the...
MoneyAnother big-time fuel price hike expected next week
Motorists should brace for another round of increase in fuel pump prices in the coming week, according to Department of Energy-Oil Industry Management Bureau Director III Rodela Romero. The following are the estimated per liter price adjustments for Tuesday, June 25. 2024. Gasoline - P0.85 to P1.15 Diesel - P1.55 to P1.85 Kerosene - P1.00 to P1.10 “Relevant news for the week that push the oil prices up are the continued geopolitical tensions and...
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