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San Jose del Monte LGU seeks MRT-7 route realignment
The City of San Jose del Monte (SJDM) in Bulacan is seeking the realignment of the Metro Rail Transit Line 7’s (MRT-7) route after consultations with stakeholders, who raised concerns about traffic congestion and the disruption of services. In a statement on Wednesday, SJDM Mayor Arthur Robes said considerations to reroute the MRT-7 from the initial proposed path within the city “resulted from effective and inclusive consultations with all...
MoneyDOLE: Minimum wage adjustment consultations in NCR set for May 23, June 4
The Department of Labor and Employment (DOLE) announced on Wednesday that a series of consultations for the next minimum wage round in the National Capital Region (NCR) will begin on Thursday. In a statement, the DOLE said the consultations with the labor and employer sectors in Metro Manila will take place on May 23 and June 4, respectively. The public hearing, meanwhile, is expected on June 20. After the consultations, the NCR’s Regional...
MoneyCIC inks P3.3-B deal with DMCI for C5 Link Segment 3B construction
Cavitex Infrastructure Corp. (CIC), the concessionaire of the Manila-Cavite Expressway (CAVITEX), has tapped D.M. Consunji Inc. (DMCI) to construct a remaining segment of the C5 Link Expressway. In a statement on Thursday, CIC said it signed a P3.3-billion construction deal with DMCI to build Segment 3B of the C5 Link Expressway. Segment 3B is a six-lane two-kilometer toll road connecting CAVITEX at Parañaque in the west and C5 Road Taguig in...
MoneyExpanded tax breaks for e-vehicles to spur 'more sustainable investments' - Recto
Finance Secretary Ralph Recto has welcomed the expansion of coverage of an executive order that temporarily grants tax breaks on the importation of certain electric vehicles, parts, and components. In a statement on Wednesday, Recto said the National Economic and Development Authority Board’s decision to expand the electric vehicle incentive program under Executive Order (EO) 12 “will further enhance the ease of doing business in the...
MoneyDOE mandates hike in coco methyl ester blend in diesel beginning October
The Department of Energy (DOE) has ordered an increase in the coco methyl ester (CME) blend in diesel fuel starting in October. In its Department Circular No. 2024-05-0014, the DOE mandated downstream oil industry participants to increase the CME blend to 3%, from the current 2%, in diesel fuel sold nationwide, beginning October 1, 2024. The CME percentage blend will then increase to 4% by October 1, 2025, and ultimately to 5% by October 1,...
MoneySM Markets to open up to 15 stores outside Metro Manila in 2024
Sy-led SM Investments Corp. (SMIC) on Tuesday announced plans to open some 10 to 15 new SM Markets stores in 2024, including three in the first half of the year, aimed at providing its services outside Metro Manila. In an emailed statement, SMIC said it will open three stores in the first half including Mati, Davao Oriental; Marilao, Bulacan, and Naujan, Mindoro. It already opened Savemore stores in Siniloan, Laguna; Pantukan, Davao de Oro;...
MoneyPeso slips to P58:$1 level
The Philippine peso depreciated for the third straight trading day to the P58:$1 level on Tuesday to mark its worst showing in over 18 months, as regional currencies softened after recent signals of a delayed rate cut by the Federal Reserve. The local currency shed 37 centavos to close at P58.27:$1 from Monday’s finish of P57.68:$1. This is the worst showing in 18 months since November 8, 2022’s finish of P58.275:$1. The Bangko Sentral ng...
MoneyGasoline prices to roll back, diesel and kerosene prices to go up Tuesday
Fuel prices will have mixed movements on Tuesday, with gasoline prices having a rollback for the fourth straight week, and diesel and kerosene having price hikes after four consecutive weeks of increases. In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., and Shell Philippines Corp. said they will lower prices per liter of gasoline by P0.10, while hiking those of diesel by P0.25, and kerosene by...
MoneyVirtual assistant job salary attracts Pinoys
Filipinos have opted to change jobs and earn more as a virtual assistant, an administrative job done from a remote office setup, usually with foreign clients. In EJ Gomez's “24 Oras Weekend” report, Maryrose Lopez Ganzon said she earned 15% more as a virtual assistant than as a call center agent. Ganzon, who has been working as a virtual assistant for 15 years, earns P200,000 to P300,000 a month. “Makakapagpa-graduate na ako ng college,” said...
MoneyMixed movements in fuel prices seen next week
Motorists should expect mixed movements in the pump prices of petroleum products in the coming week. Citing oil trading in the past four days, Department of Energy-Oil Industry Management Bureau Director III Rodela Romero said the following are the estimated adjustments in the pump prices for May 21 to 27: Gasoline - rollback of P0.20 to P0.45 per liter Diesel - increase of P0.20 to rollback of P0.10 per liter Kerosene - increase of P0.10 to...
MoneySan Miguel profit falls 50% in Q1 on forex losses
Diversified conglomerate San Miguel Corporation (SMC) saw a double-digit decline in its bottom line in the first quarter of 2024 on account of foreign exchange adjustments. In a disclosure to the Philippine Stock Exchange on Thursday, SMC reported a consolidated net income of P8.887 billion for the January to March period, down 50% from P17.739 billion in the same period last year. The company attributed the earnings decline to “loss on foreign...
MoneySeven Filipinos in Forbes '30 Under 30' Asia Class of 2024
Seven individuals from the Philippines were included in the Forbes "30 Under 30" Class of 2024, which features 300 young entrepreneurs, leaders, and trailblazers across the Asia-Pacific region under the age of 30. The listees were chosen from over 4,000 candidates who were then evaluated by the Forbes Asia team and a panel of independent judges on factors such as funding and revenue, social impact, scale, inventiveness, and potential. "The world...
MoneyE-bikes, e-motorcycles included in list of import tariff exempt e-vehicles —NEDA
The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand "Bongbong" Marcos Jr., has approved the expansion of coverage of an executive order that temporarily exempted from import tariff certain electric vehicles, parts, and components. In a statement on Thursday, the socioeconomic planning agency said the NEDA Board, during its 16th meeting on May 15, approved the recommendations of the Committee on Tariff and...
MoneyShakey's to open 400 new units in 2024
Publicly-listed chain restaurant and food service provider Shakey’s Pizza Asia Ventures, Inc. said on Wednesday it plans to expand its network by 400 units this year, as it remains optimistic despite lower earnings in the first three months. In a regulatory filing, Shakey’s president and chief executive officer Vicente Gregorio said the company targets sustaining its growth through expansion after adding 91 units in the first quarter of the...
MoneyGMA: There's no reason not to assume future collaborations with ABS-CBN
GMA Network Inc. on Wednesday hinted at more collaborations with ABS-CBN in the future, following the recent partnership on the airing of “It’s Showtime” in the firm’s main free-to-air television channel in April. During the company’s annual stockholders’ meeting, GMA president and chief executive officer Gilberto Duavit Jr. said the previous partnerships with ABS-CBN have been beneficial for both parties, and hinted at more in the future. “The...
MoneyGMA Network cements industry leadership with digital milestones, multi-platform content and distribution
Beyond GMA Network’s dominance on air, the Philippine media giant has also emerged as a trailblazer in the digital space as it expands its presence to grow online audiences and adapt to TV viewers' viewing habits. GMA Network President and CEO Gilberto R. Duavit, Jr. highlighted the Network's digital strides at the GMA Annual Stockholders' Meeting, which was conducted virtually on Wednesday, May 15. "We continued to expand our presence in the...
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