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Wholesale price growth slowed in 2023
Growth in bulk prices of goods in the country eased last year as food and three other commodity groups posted slower price increases, according to the Philippine Statistics Authority......»»
Government to address price hikes – NEDA
The government is stepping up efforts to address price increases in basic commodities such as rice following a recent survey indicating that Filipinos are dissatisfied with efforts to manage inflation, according to the National Economic and Development Authority......»»
NCR construction materials price growth eases in 2023
Retail price growth of construction materials in Metro Manila eased in 2023 from the previous year as all commodity groups posted slower increases, according to the Philippine Statistics Authority......»»
Retail Sales in US Fall Short of Expectations Following Previous Month’s Decline
US retail sales saw a slight increase of 0.6% in February, falling short of predictions and sparking worries about consumer spending strength. This uptick follows.....»»
Fuel price rollback expected this week
MANILA, Philippines — Good news awaits motorists following successive price increases in gasoline as oil companies are tipped to slash local fuel prices by less than a peso this coming week, according to industry sources. In an advisory over the weekend, Unioil said the price of diesel should go down by 30 centavos to 40.....»»
OceanaGold IPO price set
OceanaGold Inc. , the operator of Didipio gold and copper mine in Nueva Vizcaya, pegged its initial public offering price at P13.33 per share, more than a fifth lower than its earlier announced maximum price of P17.28 per share......»»
Petron rolls back LPG price by P11 per 11-kg cylinder
MANILA, Philippines — Petron Corp. slashed the price of its liquefied petroleum gas product after implementing increases for three consecutive months this year. In its advisory, Petron said its LPG price was cut by P1 per kilogram (kg) or a total of P11 per 11-kg cylinder effective April 1 at 12 noon. “This reflects the.....»»
Fuel price cut expected this week
Fuel prices are expected to decrease slightly again following a minimal downward price adjustment previously, according to industry sources. In an advisory over the weekend, Unioil said the price of diesel might go down by 20 to 30 centavos per liter and gasoline by 30 to 50 centavos per liter. ALSO READ: Fuel prices rise.....»»
NFA mulls hike in selling price
The National Food Authority is considering raising its selling price of rice to as much as P36 per kilogram to recover its costs and keep profit margins after it increased its palay buying price last year......»»
Oil price hike expected on February 20
After last week’s price rollback, another oil price hike is expected to be implemented by oil firms next week......»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
Customs seizes P18 billion smuggled goods in Q1
The Bureau of Customs confiscated P18 billion in smuggled goods in the first quarter as the entry of illegal items into the country remains a problem......»»
Presyo Merkado: Current prices of food in Metro Cebu markets
Presyo Merkado is a daily guide to the prices of goods in different markets around Metro Cebu. Stay updated by checking our site and social media platforms every morning. (UPDATED) CEBU CITY, Philippines —It is almost payday! What are you planning to buy in the market? You may check the prices of goods and commodities.....»»
BFAR urges traders to comply with EO on unsanitary transport of wet goods
CEBU CITY, Philippines- The Bureau of Fisheries and Aquatic Resources (BFAR) has commended Cebu Governor Gwendolyn Garcia for issuing an executive order that prohibits the entry of vehicles transporting wet goods from unsanitary conditions within the territorial jurisdiction of the province of Cebu. BFAR-7 Provincial Fishery Officer Joel Clapano urged stakeholders and fish traders to.....»»
Pasil fish traders upset over Gwen’s wet goods transport policy
CEBU CITY, Philippines- Several fish traders at the Pasil Fish Port are complaining regarding a new policy of the Cebu Provincial Government which prohibits the entry of vehicles transporting wet goods from unsanitary conditions within the territorial jurisdiction of the province of Cebu. The policy, outlined in Executive Order (EO) No. 2 issued by Governor.....»»
Expired canned goods, poultry wastes unearthed in the farm of Palompon mayor
ORMOC CITY, Leyte —Tons of poultry wastes and expired canned goods, believed to be intended as donations for Yolanda victims, were unearthed from a farm in Palompon, Leyte, reportedly owned by the town’s mayor, Ramon Oñate. On Sunday, January 21, 2024, the Department of Environment and Natural Resources (DENR) Region 8 spearheaded the excavation of.....»»
DTI allows manufacturers to downsize certain goods to offset rising costs
MANILA, Philippines — The Department of Trade and Industry (DTI) announced on Wednesday that manufacturers of essential goods can maintain profitability amid rising production costs by reducing product sizes or weights, instead of increasing prices. Trade Assistant Secretary Amanda Marie Nograles explained during the televised Bangon Pilipinas briefing that the DTI permitted this adjustment for.....»»
Philippines upper middle-income status seen to boost insurance penetration
Higher insurance penetration hinges on the country’s ability to reach upper middle-income status as Filipinos’ disposable income remains limited amid the high cost of basic goods and services......»»
P400-M cash, relief goods provided to calamity-affected families
THE Department of Social Welfare and Development-Davao Region (DSWD-Davao) has already provided around P400 million worth of financial and basic commodity assistance to the families affected by the recent trough of low-pressure area (LPA) and shear line......»»
President Marcos OKs DepEd’s basic education plan, other measures
The National Economic and Development Authority (NEDA) Board, chaired by President Marcos, approved on Thursday three priority projects, including a medium-term basic education plan and a higher project cost for a world-class cancer center of the University of the Philippines-Philippine General Hospital (UP-PGH)......»»