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The Department of Foreign Affairs (DFA) has raised “serious concern” over reports of coral destruction at the Rozul Reef within the Philippines’ exclusive economic zone (EEZ), calling for a halt to activities damaging marine life. In a statement Monday night, the DFA said the Philippines has consistently raised the alarm over ecologically harmful activities of foreign vessels in the country’s …

The benchmark Philippine Stock Exchange (PSEi) shed 1.77 points to close at 6,124.57 on Monday night. Broader All Shares dropped 10.94 points to 3,309.24 level. “Philippines shares traded quietly to start the week, as investors await the main event this week, which is the Monetary Board’s policy-setting meeting on September 21,” said Regina Capital Development Corp. head of sales Luis …

Lalamove, the leading on-demand delivery platform, aligned with their goal of prioritizing partner drivers’ safety, recently teamed up with the Metropolitan Manila Development Authority and turned over driving equipment, including a brand-new Honda Click motorcycle from Lalamove’s Panalomove Partner Agribank, an insulated Lalabag, a Lalamove helmet, and a Lalajacket, together with a first-aid kit. Lalamove Philippines managing director Djon Nacario …

An operation headed by the Bureau of Customs (BOC) on three warehouses in Manila led to the discovery of P400.2 million worth of suspected smuggled rice and other imported products. Customs Commissioner Bienvenido Rubio, in a statement Monday, said the goods discovered during the raid on Sept. 16 include P310 million worth of imported miscellaneous goods, such as children’s toys, …

State-owned Land Bank of the Philippines (LandBank) said Friday it has remitted to the Bureau of the Treasury (BTr) its P50 billion contribution to the Maharlika Investment Corporation (MIC) as mandated by Republic Act No. 11954 which establishes the Maharlika Investment Fund (MIF). In a statement, LandBank said the PHP50-billion investment to the MIF has already been settled with the …

The Philippine Amusement and Gaming Corporation (PAGCOR) is in the process of transition towards becoming a purely regulatory body from its current dual role as both operator and regulator, Chairman and CEO Alejandro H. Tengco said. Mr. Tengco made the remarks during the opening session of the IAG Academy Summit on September 13, 2023 at Hilton Manila where he was …

Hundred percent of verified micro rice retailers received cash  assistance as the Department of Trade and Industry (DTI) and the Department of Social  Welfare and Development (DSWD) continue to conduct subsidy payouts to micro rice  retailers across Caraga region.  On 14 September 2023, a total of 38 eligible beneficiaries from Butuan City, Surigao City,  Tandag City, and San Francisco in …

The Philippines’ journey towards a digital future is “in full swing,” President Ferdinand R. Marcos Jr. said on Wednesday. “The Philippines’ tech ecosystem is thriving, marked by a dynamic start-up culture and advancements in e-commerce, in fintech, in digital services, which have flourished during the pandemic,” Marcos said in a keynote speech delivered at the 10th Asia Summit hosted by …

As the government pushes for the digitalization of its processes, issuance of a “significant portion” of digital national IDs by end-2023 is being targeted, with authorities assuring data protection of ID holders. In a Palace briefing on Wednesday, Department of Information and Communications Technology (DICT) Secretary Ivan John Uy said the agency has been given access to the Philippine Statistics …

The country’s trade deficit narrowed anew in July, Philippine Statistics Authority (PSA) data showed. In a report released Friday last week, the PSA said the trade deficit during the month dropped by 30 percent to USD4.2 billion from USD5.9 billion in July last year. It was, however, slightly higher than the USD3.9 billion trade deficit in June this year. The …