The Department of Energy (DOE) is ramping up its efforts to secure bilateral energy cooperation agreements as the Philippines strives to catch up on its renewable energy targets. DOE Secretary Raphael Lotilla recently led an energy mission to Saudi Arabia, where the Philippines signed its first memorandum of understanding (MOU) with Saudi Energy Minister Abdulaziz bin Salam Al Saud. Joining …
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The government is pushing for key reforms aimed at streamlining the mining application process, officials said on Thursday. Department of Environment and Natural Resources (DENR) Undersecretary for Integrated Sciences, Carlos Primo David, announced during a forum organized by the Chamber of Mines of the Philippines (COMP) that the DENR has introduced a digital application system in three regions. “We’ve rolled …
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Danish firm Copenhagen Infrastructure Partners (CIP) has received its pre-development Environmental Compliance Certificate (ECC) for its 1-gigawatt San Miguel Bay Offshore Wind Project in Camarines Sur, marking a significant milestone for offshore wind energy in the Philippines. The Royal Danish Embassy in Manila announced Friday that this project is the first of its kind to secure a pre-development ECC from …
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Philippine economic growth likely settled within the 6.0 to 6.5 percent range in the third quarter of the year, an economist said on Friday. Seasonal increase in importation, manufacturing and other production activities in preparation for the increased demand during the holiday season likely helped boost growth during the quarter, Rizal Commercial Banking Corporation chief economist Michael Ricafort said in …
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The Bangko Sentral ng Pilipinas (BSP) announced on Friday that it has reduced the total offering of its BSP bills (BSPB) to P160 billion, down from P190 billion in the previous week. This adjustment was made in response to evolving market conditions and liquidity management needs. In a statement, BSP Deputy Governor Francisco Dakila Jr. explained that the allocation for …
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The Philippine financial sector’s total resources increased by 9.20 percent as of end-August this year, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data released by the BSP last week showed that the total resources of banks and non-bank financial institutions reached P32.14 trillion in August, higher than the P29.43 trillion in August 2023. Banks’ total resources amounted …
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The Bangko Sentral ng Pilipinas (BSP) announced that its coin deposit machines (CoDMs) have collected over P1 billion worth of coins since their launch, underscoring the project’s success in recirculating idle currency. As of October 11, 2024, the total coin deposits have reached P1.008 billion, with more than 260 million individual coins processed across 240,000 transactions. The CoDM initiative, launched …
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Philippine National Bank (“PNB”) has successfully tapped into international markets with a US$300 million benchmark-sized Sustainability Regulation S offering of 5-year senior notes (the “Notes”) under its US$2 billion Euro Medium Term Note programme (the “Programme”). PNB conducted a two-day roadshow starting on October 14, 2024 to engage with potential investors. The 5-year bond was priced at T+102 basis points, …
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TecPlata achieved a new milestone with its handling of the first carbon-neutral container in Argentina. The latest achievement marks a significant step forward in the company’s commitment to sustainability, reinforcing its position as a leader in innovative logistics solutions. Through the collaboration with Petrocuyo, LOGIN, and Carbon+, TecPlata successfully implemented practices that prioritize environmental responsibility while ensuring operational efficiency. TecPlata’s …
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Reinforcing its presence in the country’s entertainment scene, TECNO has been named the official smartphone partner of Billboard Philippines’ highly anticipated “Mainstage – The Year One Anniversary” event, a celebration of music and entertainment. Held on October 15 at SM MOA Arena, the milestone event showcased local talent and brought together some of the Philippines’ top musicians, celebrities, and rising …
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The Market Monitor Minding the Nation's Business