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Metro Manila retail prices climb fastest in 13 months

Retail prices of consumer goods in Metro Manila continued its upward trend in May, the highest reported since the start of the pandemic, the Philippine Statistics Authority said......»»

Category: newsSource: philstar philstarJul 13th, 2021

Metro Manila retail prices ease, halt 5-month uptick

Retail prices of consumer goods in Metro Manila eased for the first time in five months, the Philippine Statistics Authority said......»»

Category: financeSource:  philstarRelated NewsAug 18th, 2021

DOE, Angkas to identify best gas stations

The Department of Energy has tapped Angkas for real-time monitoring of retail pump prices for two-and-a-half months in order to identify gas stations in Metro Manila with the best prices and services......»»

Category: newsSource:  philstarRelated NewsJul 28th, 2021

Prices of building materials continue to climb

Wholesale prices of building materials in Metro Manila continued to climb, rising at their fastest pace since the start of the pandemic last year, the Philippine Statistics Authority said......»»

Category: financeSource:  philstarRelated NewsMay 16th, 2021

Prices of bldg materials slightly pick up in April

Retail prices of construction materials in Metro Manila slightly went up in April, the Philippine Statistics Authority said......»»

Category: financeSource:  philstarRelated NewsMay 30th, 2021

Metro Manila retail prices soar in April

Retail prices of consumer goods in Metro Manila rose at a faster pace in April, the highest reported since the start of the pandemic, the Philippine Statistics Authority said......»»

Category: financeSource:  philstarRelated NewsMay 28th, 2021

Metro Manila retail prices soar in March

Retail prices of consumer goods in Metro Manila rose at a faster pace in March, the Philippine Statistics Authority said......»»

Category: financeSource:  philstarRelated NewsMay 2nd, 2021

270,000 hogs delivered to Metro Manila during price cap implementation

Over 270,000 hogs were delivered to markets in Metro Manila in two months, in line with the Department of Agriculture (DA)’s effort to augment supply and stabilize pork prices in the market......»»

Category: newsSource:  philstarRelated NewsApr 9th, 2021

Metro Manila retail prices rise faster in February

Retail prices of consumer goods in Metro Manila rose at a faster pace in February, the Philippine Statistics Authority said......»»

Category: financeSource:  philstarRelated NewsApr 7th, 2021

Hog deliveries breach 250,000 mark

Over 250,000 hogs have been delivered to markets in Metro Manila in almost two months, in line with the Department of Agriculture’s effort to augment supply and stabilize pork prices in the market, according to the DA......»»

Category: newsSource:  philstarRelated NewsApr 3rd, 2021

Retail prices in Metro Manila up in January

Retail prices of consumer goods in Metro Manila rose at a faster pace during the start of the year, according to the Philippine Statistics Authority......»»

Category: financeSource:  philstarRelated NewsMar 13th, 2021

Meralco rates lower by P0.0623/kwh in Sept. billing

Consumers of Manila Electric Company (Meralco) will benefit from a slight reduction of P0.0623 per kilowatt hour (kwh) in this September billing — summing up five straight months of tariff downtrends for this year. (MANILA BULLETIN) For end-users in the consumption threshold of 200 kilowatt hours (kwh), the average cost savings they will gain in this billing period will be P12, according to the utility firm. The overall rate billed this month is at P8.4288 per kwh versus the previous month’s P8.4911 per kwh. The generation charge, which accounts for the chunk of the cost components being passed on, had been pared by P0.0381 per kwh this month to P4.0860 per kwh from the previous billing cycle’s P4.1241 per kwh. Additionally, the transmission charge was on marginal decline of P0.0112 per kwh and that was mainly attributed to the lower ancillary services (AS) charges of the National Grid Corporation of the Philippines; while taxes and other charges incurred a net decrease of P0.0130 per kwh. Meralco emphasized one key factor that triggered rate reduction this September is its continuing move to invoke force majeure (FM) claims with its power suppliers. “This September, the force majeure claim totaled about P463 million, equivalent to customer savings of P0.1710 per kwh in the generation charge,” the utility firm noted. The company explained that if the FM claims had not been there, “the generation charge and the total rate would have increased by P0.13 and P0.14 per kwh, respectively.” Since March this year when Meralco has been persistently invoking FM claims under its power supply deals, the company was already able to generate P2.4 billion worth of savings that it has been passing on as rate reduction to customers via their electric bills. On supply procurement, Meralco indicated that it secured the lion’s share of 54.8-percent from its power supply agreements (PSAs) and that resulted in a decrease of P0.3032 per kwh on its charges. The fraction of supply sourced from its contracted independent power producers (IPPs) had been at 33.6-percent; and this went up by P0.0601 per kwh; while volume procured from the Wholesale Electricity Spot Market (WESM) stood at 11.6-percent and charges had been down by P0.0147 per kwh.The lower settlement prices in the spot market, it was noted, had been due to decrease in Luzon demand — given the re-enforcement of modified enhanced community quarantine (MECQ) in some areas last month, primarily in Metro Manila and neighboring provinces......»»

Category: newsSource:  mb.com.phRelated NewsSep 9th, 2020

P51-B airport railway launched

Project to generate 38,000 jobs The country’s first airport railway express service soon starts construction after the government and proponents signed the P50.8-billion contract packages for PNR Clark Phase 2 (Malolos-Clark) segment of the P777.5-billion North-South Commuter Railway (NSCR) virtually over the weekend  (August 1, 2020). The construction is expected to generate 38,000 new local jobs in the midst of the COVID-19 pandemic. Department of Transportation (DOTr) Secretary Arthur Tugade led the virtual signing of the contracts, marking the start of civil works for the 53-km extension that will bring passengers from Makati City in Metro Manila to Clark International Airport in Pampanga in just under one  hour. The first signing was for the P32.7-billion Contract Package N-04, which covers the civil engineering and building works  6.3 kilometers of the main line and 1.6 kilometers of the depot’s access line with an underground station serving Clark International Airport. They also signed the P18.1-billion Contract Package N-05, which covers the civil engineering and building works for the Clark Railway Depot.  The depot covers an overall area of approximately 33 hectares.  The contract covers the construction of the Operations Control Center, stabling yard, workshops, training center and other ancillary buildings in Mabalacat, Pampanga. This proves that flagship projects under the government’s BUILD, BUILD, BUILD program continue despite challenges posed by the pandemic, Tugade underscored. The PNR Clark Phase 2 paves the way for the country’s first-ever airport railway express service, he reiterated. “Since the NSCR will feature the country’s first airport express train service allowing travelers to get from Makati to Clark Airport in under one hour, we can consider it as a trail-blazing project, ” the DOTr Secretary  elaborated. “To achieve this, trains will run at 160 kilometers per hour, making it one of the fastest modes of land public transportation.”  The signing of contracts is likewise timely, noted Asian Development Bank (ADB) Southeast Asia Director General Ramesh Subramaniam. “The civil works contracts will help kickstart the economic revival of the Philippines over the next 12 months as the country faces the pandemic ” he pointed out. Under the railway project, we estimate that 24,000 local construction jobs will be directly created during the next three years.  And another at least 14,000 jobs needed for operating the railway system,” according to Subramaniam. The signing of contracts is a major milestone for the Malolos-Clark Railway Project as well as for the Philippine transport sector, he added. Once partially operational by 2022, PNR Clark Phase 2 (Malolos-Clark), a 53-km rail line segment, will connect Malolos, Bulacan to Clark International Airport, will cut down travel time to 30-35 minutes, from the original 1 hour and 30 minutes. The DOTr signed contract Package N-04 was virtually signed with Acciona Construction Philippines, through Director Ruben Eugenio Garcia and Chief Financial Officer Angel Fernandez de la Pradilla, and EEI Corporation, through President and CEO Roberto Jose Castillo. Contract Package N-05 was virtually signed with POSCO Engineering and Construction Co., Ltd., through Executive Vice President Dong Ho Kim and POSCO E&C Vice President Sung Wook Chung......»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

GERI reports 37% profit fall, improving sales

Global-Estate Resorts, Inc. (GERI), Megaworld’s integrated tourism and leisure unit, reported lower earnings in the first half of the year although sales have started to recover in the second quarter. In a statement, GERI said that, excluding non-recurring gains, the company’s net income for the first half of the year reached P728 million, down 9 percent from P801 million during the same period last year. Attributable net income dropped 37 percent to P544.8 million in the first half of 2020 from P865.13 million in the same period last year. Consolidated revenues for the first half of 2020 registered at P2.9 billion, reflecting a 29 percent decline from P4.1 billion during the comparable period last year. On the other hand, rental income weakened by only 8 percent from P377 million last year to P347 million in the first half of 2020 even if mall operations were affected by the Taal eruption in the first quarter, and the strict quarantine measures in the second quarter. Hotel operations declined by 67 percent from P484 million last year to P162 million for the first six months of 2020 due to the quarantine restrictions during the period. However, the decline in revenues from the company’s core businesses was offset by the 30 percent reduction in costs and expenses, from P3.1 billion in the first half of 2019 to P2.2 billion this year. “Boracay was closed to tourists during the second quarter but as soon as the quarantine measures were relaxed in June, we saw a steep climb on the sales of our commercial and village lots in Boracay Newcoast. Buyers now prefer residential and leisure products in nature-rich settings outside of Metro Manila,” explained GERI President Monica T.Salomon. GERI’s reservation sales of residential projects during the second quarter of the year rose to P3.6 billion from P2.2 billion in the first quarter. The firm noted that the growth was achieved even as the country was placed on strict lockdown due to the coronavirus pandemic. It did not provide comparative figures for 2019. Residential projects in Boracay Newcoast in Aklan, Arden Botanical Estate in Cavite, Eastland Heights in Antipolo, Rizal,  and Hamptons Caliraya in Laguna comprised the bulk of sales during the first half of the year, which reached P5.8 billion. “When the news of a possible lockdown came out in mid-March, we had already braced for a conservative outlook for our residential segment,” said Salomon. She added that, “But, while the country was placed on strict quarantine, we saw aggressive take-ups of our provincial projects. In fact, on the average, our second quarter sales are 61 percent of what we have booked for the entire first half of 2020. And we still have enough inventory to address the demand for residential projects in these areas.”.....»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

Cleanfuel Strengthens Retail Network in Southern Manila

Now serving with the newest technologies implemented to create high-tech fuel for your vehicles, Cleanfuel, believes in the resiliency of the Filipino people that would bring and sustain solid economic recovery amid health crisis. Their recently opened retail station at Doña Soledad in Parañaque City shows a testament that the company remains upbeat in expanding their network footprints in Southern portion of Metro Manila.   “While 2020 is a challenging year, Cleanfuel has remained optimistic riding in the resiliency of Filipinos towards economic recovery. This is the reason why Cleanfuel Group of Companies continues to invest and opened more stations as a testament and commitment to its people to provide top-notch fuel to every motorist,” said Atty Bong Suntay, President of Cleanfuel. “The opening of the new station in Doña Soledad is in line with Cleanfuel’s goal to expand its reach and strengthen its customer base in the Southern part of Metro Manila,” Suntay said. Situated at the busy thoroughfare of Doña Soledad Avenue Extension at Barangay Don Bosco in Parañaque City, the new station offers a top-notch fuel and lubricants including Clean91 (Unleaded), Premium 95 gasoline, and Euro-4 diesel. It provides access to both public and private motorists from Better Living going to Moonwalk, connecting in the bustling intersection of eastern Parañaque.  In addition, the second district of Don Bosco is the primary residential Barangay of Ninoy Aquino International Airport and one of the 16 Barangays in Parañaque City. Key factors of the city’s progress include banks, shopping malls, restaurants, residential properties, and commercial manufacturing. Motorists heading towards the busy streets of Doña Soledad Avenue Extension from east-west and northern side of Parañaque can gas up to experience Cleanfuel’s brand mantra: Quality fuel for Less! Further, Cleanfuel Doña Soledad station will become a key driver of growth to more than 60,000 population of Barangay Don Bosco. As the city relies on shopping centers as part of major contributors, the company sees that the opening of Cleanfuel Doña Soledad will further strengthen and boost economic confidence. “We’re grateful and honor to inaugurate Cleanfuel Doña Soledad as our first station to open in these unprecedented times. The economy in the City of Parañaque has been growing consistently with massive projects in property and commercial manufacturing,” the company’s chief executive said.  Suntay adds that in the next coming months Cleanfuel is adding more stations not only in NCR but also in provinces to provide quality fuel for business and opportunities for others. “We intend to leverage our business aggressively and expand our retail network across the country, focusing on Mega Manila and Northern Luzon,” concludes Suntay.  Cleanfuel is expected to open more stations in coming weeks in Ortigas Avenue Extension in Pasig and mega branch in Mabalacat Pampanga as part of the long-term business expansion plan. Aside from expansion, the company has extended its support by providing fuel subsidy for the Department of Transportation’s (DOTr’s) Free Bus Ride for Health Workers Program and drive relief donations to northern provinces, which include Pangasinan (Villasis, Binalonan, Pozorrubio) and San Fernando (La Union) and other cities in Metro Manila......»»

Category: newsSource:  mb.com.phRelated NewsAug 1st, 2020

Wide-scale quarantine not working

Two weeks into the most severe form of lockdown, COVID-19 cases in the Philippines have not abated. The enhanced community quarantine that is aimed at curbing the spread of the more virulent Delta variant of COVID-19 has restricted mobility, shut down thousands of restaurants and retail outlets across Metro Manila and eliminated millions of jobs......»»

Category: newsSource:  thestandardRelated NewsAug 20th, 2021

DTI defers increases on SRP amid ECQ

The Department of Trade and Industry is putting off increases on the suggested retail price of basic goods with Metro Manila and other parts of the country under strict lockdown......»»

Category: newsSource:  philstarRelated NewsAug 12th, 2021

Q2 GDP growth fastest in 32 years

The Philippines found its way out of recession on a record growth in three decades, but economists said recovery remains nowhere near in sight with the return to lockdown in economic areas, particularly Metro Manila......»»

Category: financeSource:  philstarRelated NewsAug 10th, 2021

COVID-19 cases in Metro Manila highest in 3 months – OCTA

New COVID-19 infections for a single day reached 2,823 last Saturday in the National Capital Region the highest since May 2 when the NCR was under modified enhanced community quarantine or MECQ......»»

Category: newsSource:  philstarRelated NewsAug 8th, 2021

Benguet farmers fear financial losses from Metro Manila ECQ

Prices of vegetables are expected to go down since fewer people will be out to buy......»»

Category: newsSource:  philstarRelated NewsAug 8th, 2021

EDITORIAL - Safe voter registration

The approaching return to the strictest enhanced community quarantine will inevitably affect the ongoing voter registration, with only two months left before the deadline. Areas to be placed under ECQ including Metro Manila are sure to see a slowdown in the registration of new voters, according to poll officials......»»

Category: newsSource:  philstarRelated NewsAug 1st, 2021