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1 May

Philippine-Australia strategic partnership to bolster economic ties

Department of Trade and Industry (DTI) Secretary Fred Pascual met with Australia’s Trade and Tourism Minister, Senator the Honorable Don Farrell and his delegation on 25 April 2023 to discuss enhancement of current relations in the context of ongoing discussions toward a strategic partnership. Economic and trade relations with Australia are undertaken through bilateral and regional mechanisms such as the …

1 May

PAGCOR boasts P17.70-B income yield for 1st quarter

The Philippine Amusement and Gaming Corporation (PAGCOR) came up with another record-breaking income performance after it posted a total revenue of P17.70 billion for the first quarter of 2023, surpassing by 42.8% its P12.4 billion production during the same period last year. Of the agency’s P17.70 billion income haul for the first three months of the year, P16.87 billion came …

1 May

LANDBANK posts P10.8-B income in Q1 2023

The Land Bank of the Philippines (LANDBANK) recorded a net income of P10.8 billion in the first three months of 2023, buoyed by higher interest income and lower operating costs. The three-month figure is P2 billion higher than its target for the first quarter and represents 30.8% of the Bank’s P35 billion income target by year-end. The net income recorded …

1 May

Foreign investments registered with BSP through AABs yield net outflows in March

Transactions on foreign investments registered with the BSP, through AABs, in March 2023 recorded net outflows of US$70 million, resulting from gross outflows of US$1.33 billion and gross inflows of US$1.26 billion. This is smaller compared to the net outflows recorded in February 2023 (US$531 million) and in March 2022 (US$305 million). The US$1.26 billion registered investments for the month …

1 May

SEC hikes fines for late, non-filing of annual reports

The Securities and Exchange Commission (SEC) is increasing the fines and penalties to be imposed on corporations for the late and non-filing of certain annual reports, in an effort to boost compliance with reportorial requirements. The Commission on April 26 issued for public comment draft guidelines on the updated scale of fines for the late and non-submission of audited financial statements …

1 May

Kadiwa offers affordable products to workers on Labor Day

Aside from offering job opportunities, the Department of Labor and Employment (DOLE) will put up over 20 “Kadiwa ng Pangulo para sa Manggagawa” outlets to mark Labor Day on May 1. In a statement on Saturday, the DOLE said 21 Kadiwa stalls will be at the venues of job fairs nationwide starting Sunday for entrepreneurs to sell their goods directly …

1 May

Backyard Gardening Mom Transitions into an Agri-preneur

For many, farming is a way of life. They gain a profound sense of purpose when they cultivate the land, plant seeds, and harvest fruits and vegetables that will nourish not just their families but an entire community. It has also since emerged as a viable social enterprise. Through trainings, farmers have learned business principles and saw livelihood and entrepreneurial …

1 May

Ilijan power facility reopening seen in May

The reintegration of the 1,200-megawatt (MW) Ilijan natural gas plant to the national grid – targeted by May 26 – is expected to help stabilize the country’s power supply amid the projected high demand in the summer months and the coming years. San Miguel Corp., through its power arm SMC Global Power Holdings Corp. (SMGP), recently took delivery of the …

1 May

DOF celebrates 126th year of sound fiscal management

“For 126 years, this institution has stood as the firm foundation of the Philippine economy through the performance of its core mandates – revenue generation, resource mobilization, and fiscal management,” Finance Secretary Benjamin Diokno said in his message during the 126th Anniversary Opening Ceremony at the DOF Office in Manila. Founded in 1897 by the Revolutionary Government in the Spanish …

1 May

Shall we entertain another Summer Metro Manila Film Festival next year?

It is safe to say that the 2023 Summer Metro Manila Film Festival, the first ever edition of the MMFF shown nationwide last month was a disappointment at the box-office. The MMFF organizing committee led by Metro Manila Development Authority (MMDA) Chairman Romando Artes has not issued yet any statements about the box-office results among the eight official entries, namely …

TimeLine Layout

May, 2023