Senator urges improved toll road services before approving rate hikes
Last week, the TRB approved the collection of the second tranche of toll increase for the North Luzon Expressway (NLEX). The collection of the new toll rates will start on June 4. .....»»
‘House outperforms Senate in approving LEDAC bills’
Key officials of the House of Representatives have floated the disparity in the legislative performance of the two chambers of the bicameral Congress, where the Senate paled in comparison to the House......»»
Employment Increased to 96% in the April 2024 Labor Force Survey, PSA
The country’s employment rate increased to 96% in April this year according to the Philippines Statistics Authority’s (PSA) latest report on June 6, 2024. This is higher compared to both April 2023 and January 2024 with a rate of 95.5%. In April of this year, the labor force participation rate (LFPR) was 64.1%, which is […].....»»
Philippine inflation rate slightly rises to 3.9 pct in May
MANILA, June 5 (Xinhua) -- The Philippines' inflation rate rose up to 3.9 percent in May from 3.8 percent in April, the Philippine Statistics Authority (PSA) said on Wednesday. The May inflation rate brings the national average in the first five months to 3.5 percent. In a news conference, PSA chief Dennis Mapa said the uptick in overall inflation in May was primarily influenced by the higher year-on-year.....»»
Philippine inflation rate slightly rises to 3.9 pct in May
MANILA, June 5 (Xinhua) -- The Philippines' inflation rate rose up to 3.9 percent in May from 3.8 percent in April, the Philippine Statistics Authority (PSA) said on Wednesday. The May inflation rate brings the national average in the first five months to 3.5 percent. In a news conference, PSA chief Dennis Mapa said the uptick in overall inflation in May was primarily influenced by the higher year-on-year.....»»
BSP’s monetary board retains policy rate at 6.5%
This has been the fifth time the MB kept the interest rate since its off-cycle policy rate hike in October 2023 to mitigate supply-side inflation pressures......»»
Eastern Visayas posts 5.1 percent unemployment rate in July 2023
Eastern Visayas’ unemployment rate peaked at 5.1 percent in July 2023, higher by 0.9 percentage point than the 4.2 percent unemployment rate in April 2023......»»
Cebu’s inflation rate rose in Feb compared to January
CEBU CITY, PHILIPPINES – Cebu’s inflation rate rose slightly in February compared to lJanuary as prices have gone up in most parts of the province including the tri-cities of Cebu, Lapu-Lapu, and Mandaue. This was after the Philippine Statistics Authority (PSA) Cebu Province announced the current inflation rate of Cebu including the Highly Urbanized Cities.....»»
BSP keeps policy rate at 6.5%
In the MB’s first policy rate meeting in 2024, the MB held steady at a 6.5% benchmark interest rate as the country’s inflation risks continued to lean on the upside. .....»»
Philippines jobless rate drops to decades-low in December 2023
MANILA, Feb. 7 (Xinhua) -- The unemployment rate in the Philippines decreased to 3.1 percent in December 2023, the lowest since 2005, the Philippine Statistics Authority (PSA) said on Wednesday. "The full-year unemployment rate for 2023 was 4.3 percent compared to 5.4 percent in 2022," PSA head Dennis Mapa said at a press conference. Mapa said about 1.60 million were jobless in December last year. "This w.....»»
Consumers express mixed reactions on slight power rate increase
Consumers of Davao Light and Power Co., Inc. have expressed mixed reactions to a slight increase in the overall power rate starting January 2024. The increase is attributed to higher market prices affecting the generation rate. Noriza Mabanding, a virtual assistant, noted the impact on her energy usage and the need to schedule appliance usage to save energy. Jenalyn Manguiob, a small business owner, expressed dissatisfaction with the increase's effect on her business but acknowledged the global market's influence and the importance of conserving energy. The increase amounts to P0.0774 per kWh, resulting in a minor increase in electricity bills for residential customers......»»
NLEX to start C5 connector
The concessionaire behind the North Luzon Expressway will start linking the toll road to C-5 Road by the second quarter of the year to expand access to all corners of Metro Manila......»»
PISTON urges SC: Issue TRO vs PUVMP before April 30 consolidation deadline
A progressive transport group called on the Supreme Court to immediately issue a temporary restraining order (TRO) against a controversial policy a week before the April 30 franchise consolidation deadline set for jeepneys and UV Express units......»»
Residential electricity rates up by P0.86/kWh for May-June billing
Residential customers of Visayan Electric will experience an increase of P0.86/kWh in their May-June electricity billing. The increase is attributed to high generation rates due to price hikes in the Wholesale Electricity Spot Market (WESM) in April brought about by power supply concerns in the Visayas Grid. As a result, the overall residential electricity rate.....»»
ERC urged to defer power rate hikes
It would be best for the Energy Regulatory Commission to withhold the requests of power distributors and generating firms to collect higher electricity bills while the industry is on yellow alert due to high power demand this summer, a member of the House of Representatives said......»»
‘Bring CA ruling on power rate hikes to SC’
An official of the House of Representatives called on the Energy Regulatory Commission (ERC) to elevate to the Supreme Court (SC) a December 2023 Court of Appeals (CA) ruling that could pave the way for higher power rates to the detriment of consumers. .....»»
Remolona sees 5.9 percent GDP this year
The Philippine economy is likely to grow at a faster pace this year, but it would still be below the government’s goal of six to seven percent as rate hikes continue to constrict demand, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said......»»
Meralco cuts power rates in April
The Manila Electric Company will slash power rates in April, ending three consecutive months of rate hikes since the first quarter of 2024. .....»»
NCR retail prices rise at slowest pace in nearly 2 years
Retail prices of goods in Metro Manila in January posted its lowest growth rate in nearly two years due mainly to slower food price hikes, according to the Philippine Statistics Authority......»»
BSP chief: GDP grew at faster pace in Q4
Philippine economic growth picked up further in the final quarter of last year despite the aggressive rate hikes delivered by the central bank, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said......»»
Nearly 50,000 UK businesses on verge of collapse - report
Construction and real estate are among the hardest hit sectors, researchers say The number of UK businesses on the brink of bankruptcy skyrocketed by more than a quarter at the end of last year amid a "debt storm" triggered by a series of interest rate hikes, a report from a group of insolvency specialists re.....»»