Business

The Energy Regulatory Commission (ERC) imposed a penalty amounting to P15.5 million on ten generation companies for exceeding the maximum yearly outage limit in 2021. “We have been on the watch for gencos who exceed allowed unplanned outage days,” said ERC Chairperson and Chief Executive Officer Agnes VST Devanadera.  “We are constantly monitoring and reviewing the weekly reports being submitted by …

The country will import sugar to stabilize domestic prices that increased despite stable local production. This comes after the earlier importation of rice, meat products and fish. The Sugar Regulatory Administration (SRA) said 200,000 metric tons of sugar will be imported. “SRA received instructions from the Department of Agriculture to temper the current level of high local sugar prices that …

Cash dividends paid out by listed companies to common shareholders last year rose 17.3% to P402.18 billion from 2020’s P342.88 billion, translating to dividend yields of 2.58% and 2.50%, respectively, Philippine Stock Exchange (PSE) data showed. For PSEi companies, cash dividends paid by 28 of the 30 main index members amounted to P157.58 billion, giving common shareholders a 1.72% dividend …

More Filipino employees prefer working for companies with a good employee retirement plan, but only one in five local firms have the capacity to do so, according to a recent survey by Mercer. In its latest Retirement Survey Report, Mercer said employers are seeing the lack of pre-retirement support as a growing concern as “more employees prefer to work for …

Bangko Sentral ng Pilipinas (BSP) issued additional clarification and directives to all BSP supervised financial institutions (BSFIs) in handling targeted financial sanctions (TFS) that match their risk profiles. Memorandum Order M-2022-007 issued Feb. 2, BSP Deputy Governor Chuchi G. Fonacier said banks and non-banks must carefully consider and study the TFS guidelines that were issued by the BSP in 2021 …

The Department of Finance (DOF) said it expects a sustained recovery in trade and economic activities this year, following the move by Congress to amend the Retail Trade Liberalization Act, Foreign Investment Act and the Public Service Act. The DOF said: “The recently approved amendments to the Retail Trade Liberalization Act, along with other economic liberalization initiatives such as the …

City cafés tried to bring the outdoors in. Café Plantcetera always had gardens in mind. Plants and coffee. What better combination can put someone in a good mood and promote good health? Plants, after all, are known to reduce stress levels and even improve the quality of indoor air by reducing volatile organic compounds and the concentration of carbon dioxide. …

Bangko Sentral ng Pilipinas (BSP) Governor and Financial Inclusion Steering Committee (FISC) Chairman Benjamin E. Diokno (top, right) leads the ceremonial donning of the financial inclusion pin during the launch of the National Strategy for Financial Inclusion (NSFI) 2022-2028. The NSFI 2022-2028 builds on the success of the first NSFI launched in 2015 and renews the vision of financial inclusion …

On 18 February 2022, the BSP will begin publishing its Monetary Policy Report (MPR). The MPR, which will replace the quarterly publication of the Inflation Report, will be published four (4) times a year to correspond with the availability of major economic data releases such as the quarterly national income accounts. The MPR will serve as the flagship BSP publication …

More than a month since Typhoon Odette ravaged communities in the Visayas, Manila Water Foundation and its partners were able to reach thousands of families through the provision of water, sanitation and hygiene (WASH) support during emergencies. In coordination with the Philippine Army, Philippine Navy and Philippine Coast Guard, more than 70,000 liters of drinking water and over 300 cases …