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Philippines investment board awards green lane for solar power project
MANILA, Jan. 29 (Xinhua) -- The Philippine Board of Investments has granted the green lane certificate for the floating solar power project that will soon rise in Nueva Ecija province, north of Manila, the Department of Trade and Industry (DTI) said on Monday. The Fuego Renewable Energy Corp. (FREC) will build the Pantabangan Floating Solar Power Plant, a 463.995 megawatts (MWac) floating solar photovoltaic (PV).....»»
Biz Leaders Welcome Coal-Fired Power Plant Expansion in Toledo City to Prevent Outages
Business stakeholders in Cebu welcomed the expansion project of a coal-fired power plant in Toledo City as a way to prevent outages that happened in Aklan early this year. They said that concerns about the environment will be “outweighed” by the economic benefits that will come with more power supply considering the dwindling reserves in […].....»»
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......»»
DOE eyes AI use in power sector
The Department of Energy is looking at the use of artificial intelligence to help bolster the power sector’s capabilities in resolving and preventing problems such as power plant outages......»»
Power rates expected to rise because of El Niño
DAVAO CITY (MindaNews / 17 January)—Expect possible increasing power rates throughout the year amid the anticipated El Niño phenomenon in the country, an official from the Department of Energy (DOE)-Mindanao said. Engr. Darwin P. Galang, DOE-Mindanao senior science research specialist, said the anticipated increasing power rates can be possibly El Niño-related, with 26 percent of […].....»»
NGCP not solely to blame for Panay blackout – Chiz
The National Grid Corp. of the Philippines is not solely to blame for the Panay power outage, Sen. Francis Escudero said, adding that power plants also failed in ensuring the island’s power supply......»»
NBA: Celtics hold off depleted Cavs to take 3-1 series lead
The Boston Celtics fought off a spirited challenge from short-handed Cleveland Monday, beating the Cavaliers 109-102 to take a commanding 3-1 lead in their NBA Eastern Conference semi-final series. Jayson Tatum scored 33 points and grabbed 11 rebounds and Jaylen Brown added 27 points for the Celtics, who will try to finish off the best-of-seven.....»»
Plane with 3 aboard lands without landing gear after burning off fuel
MELBOURNE, Australia — A light plane with three people aboard landed safely without landing gear Monday after circling an Australian airport for almost three hours to burn off fuel. The twin-turboprop Beechcraft Super King Air had just taken off from Newcastle Airport north of Sydney for a 180-kilometer (112-mile) flight north to Port Macquarie when.....»»
Game of Thrones spin-off on Jon Snow now off the table — Kit Harington
British actor Kit Harington, best known for portraying Jon Snow on "Game of Thrones," announced a spin-off series about the character is no longer in development......»»
Vessel runs aground off Northern Samar; 71 rescued
Seventy-one people were rescued from a roll-on roll-off vessel that ran aground in the waters off Northern Samar on Sunday night......»»
Positive foreign, local news buoy stocks
The stock market bounced back on positive cues abroad coupled with expectations on earlier interest rate cuts......»»
Policy easing likely in Q4, says Recto
The Bangko Sentral ng Pilipinas is expected to keep rates unchanged today, but rate cuts may happen only toward the end of the year......»»
Maybe no Fed rate cuts in FY24?
A recent CNBC article captured the growing concern that the US Federal Reserve’s first rate cut – the infamous “pivot” – might not happen until “at least September”, and discusses a few analysts (including those from Bank of America) who have said that there is “real risk” that the first cut might not even come until March 2025......»»
Stocks sink on rising geopolitical tensions
The stock market took its deepest plunge for the year as concerns over escalating geopolitical tensions overseas and delayed rate cuts at home prevailed......»»
Peso may outperform peer currencies this year
The peso is seen outperforming other currencies in the region this year, but is not likely to strengthen against the dollar due to expectations of delayed rate cuts and the Philippines’ trade deficit, according to British banking giant HSBC......»»
NEDA cuts PHL additional rice import for 2016 by 25%
By Leslie D. Venzon MANILA, Dec. 17 (PNA) — The government will reduce by roughly one-fourth its planned additional volume of rice imports for the first semester of 2016 meant to boost........»»
ADB cuts Philippines growth outlook to 6% in 2024
The Asian Development Bank has trimmed its growth forecast for the Philippines for this year, citing risks posed by extreme weather events that can drive up inflation and the slower growth in advanced economies......»»
Cuts in bank reserves unlikely soon – BSP
The Bangko Sentral ng Pilipinas is unlikely to cut banks’ reserve requirement ratio in the third quarter, amid expectations of policy rate cuts in the second half of the year......»»
Gov t cuts growth target to 6%-7% — NEDA
In a press briefing with the members of the press on Thursday, Balisacan said that the country's economic growth target had been revised following a careful consideration of factors such as the global economic slowdown, rising oil prices and inflation trends......»»
Government cuts borrowings to P203 billion in January
The Marcos administration slashed its borrowings by 45 percent to P203 billion at the onset of the new year in the absence of new global bond offerings.......»»