The Philippine Peso weakened on Thursday as an effect of investors concerns in the local economy. After hitting its strongest thus far in three years early this week, the peso closed at 42.17 against the US dollar on Thursday. Down by 6 centavos from Wednesday’s 42.11.

The Department of Trade and Industry (DTI) will bring business caravan to Antique. The DTI has chosen the province to be one of the sites for the Small and Medium Enterprises (SME) caravan which is slated on the 26th and 27th day of this month.
The trade department is encouraging businesses falling under the category of [...]

A new 200-room hotel in Davao City will be build by SM Investment Corp. It will be in Lanang district, adjacent to the SM shopping mall.
SM, in its disclosure to the Philippine Stock Exchange, said its wholly owned subsidiary SM Hotels and Convention Corp. signed a contract with Carlson, a privately held global hospitality and [...]

Private employees from Metro Manila will receive and additional P22 in their cost-of-living allowance (COLA) per day, in lieu of a wage increase. The Regional Tripartite Wages and Productivity Board-National Capital Region (RTWPB-NCR) approved Wage Order No. 16 increasing the COLA of employees. This will take effect 15 days after its publication on the daily [...]

Taiwanese businessmen are seriously considering relocating their manufacturing facilities to the Philippines from mainland China. The Manila Economic Cultural Office (MECO) said the decision was made by the Taiwan diplomatic row with the Philippines following their frustrations from the stringent labor requirements in China.
The Taiwanese businesses are engaged in industrial plastics manufacturing with estimated investments [...]

President Benigno “Noynoy” Aquino III is not keen on new taxes just to increase the income of the government, instead he said that existing tax exemptions or incentives should be reviewed. Aquino said that rationalization plan for fiscal incentives is being discussed and stressed that the government would continue on its efforts to increase revenues [...]

Local transport firm Green Frog Zero Emission Transport Corp. dared to take the huge risk in the electric vehicle industry and expressed interest to buy some 3,000 electric buses in the next seven years, with the initial 38 units coming in from China within the year.
Green Frog director Philip Apostol said the 36-passenger buses will [...]

The Diskwento Caravan (Discount Caravan) will soon roll out to areas outside Metro Manila to bring cheaper goods to more Filipino consumers.
Department of Trade and Industry (DTI) secretary Gregory L. Domingo said, “We also want consumers in various regions to experience the reduced prices of goods sold at the caravan which Metro Manila residents were [...]

The China Council for the Promotion of International Trade (CCPIT)-Guangzhou and Philippine Chamber of Commerce and Industry (PCCI) recently signed a cooperation agreement to co-organize the Manila-Guangzhou Trade and Investment Conference slated to be held on June.
The event, which is aimed to further boost the Philippine-China trade and investment relations, is expected to gather around [...]

The Trans-Asia Oil and Energy Development Corp.’s plan to raise fresh fund for power generation via stock rights offer was approved by the Philippine Stock Exchange (PSE).
The Phinma-led company got the nod from PSE when the latter posted a memorandum on Friday saying that its board has approved the listing of 1.16billion additional common shares [...]

The Philippine Long Distance Telephone Co. (PLDT) said the claim of Globe Telecom that the deal between PLDT and Digital Telecommuncations Phil. Inc. (Digitel) would result into the monopoly of the telecom industry is only Globe’s way of protecting its interest at the public’s expense. PLDT criticized Globe’s effort to stop the deal that would [...]

The Philippine government believes that the country deserves a better credit rating, that is why it is wooing the three major credit rating agencies for an upgrade in its credit scores, amid the improving fiscal situation and external liquidity.
The three credit rating agencies – Moody’s Investors Service, Fitch Ratings, and Standard & Poor’s (S&P), were [...]

The much anticipated announcement on Labor Day will not be heard this coming May 1. Secretary Rosalinda Baldoz of the Department of Labor and Employment (DOLE) clarified that there will be no announcement of wage increase on May, despite Malacañang’s pronouncement before that it is coming out with a Labor Day gift to help workers [...]

Philippine company Alliance Select Food International Inc. sealed a deal to acquire 100 percent of US company Spence & Co. Ltd., a Massachusetts-based salmon smoking and curing company who specializes in the production of smoked salmon and seafood, prepared in the Scottish tradition of its founder Alan Spence. The company caters to the high-end market [...]

Chery Automobile Ltd. announced it will build a manufacturing facility in the Philippines which will be the company’s left hand drive manufacturing hub in the Southeast Asia. Chery Philippines sales marketing manager Raymond Tribdino said the manufacturing facility will be constructed in the next three years. He said, aside from serving the local market, the [...]

Pancake House Inc. reported a net income of P73.66 million for 2010, a figure which more than doubled the P35.56 million it posted in 2009. The Lorenzo-owned casual dining restaurant chain attributed the growth to its outlet consolidation and realignment of resources to profit-generating activities.
The company also owns and operates various other restaurant brands, aside [...]

The Department of Trade and Industry (DTI) reported that their recent trade and investment mission in India have generated new investment pledges worth $42 million. Trade Secretary Gregory Domingo said they were from three energy projects and a pharmaceutical packaging ventures.
The Philippine delegates, led by Domingo, attended the recent ASEAN-India Business Fair and Conclave held [...]

The Philippine National Oil Company-Exploration Corporation (PNOC-EC) earmarked P900 million for the expansion of its coal mining ventures in Zamboanga Sibugay in Western Mindanao. The state-run oil exploration company said that its board of directors has already approved the special budget “to fund the development of existing coal mine” that will enable it to double [...]

President Benigno “Noynoy” Aquino III yesterday said he wants oil companies to open their books to public scrutiny to prove that they were not taking advantage of the public in their series of oil price increases.
“That was my position ever since I have been in public service, isn’t it? If reasonable, why can’t they show [...]

In response to the steady rising of oil prices, the Aquino government is planning to resort to “extreme legal measure” by issuing an executive order that would ban further oil price increases. The same has been done during the Arroyo administration when Executive Order was in issued in 2009 to freeze oil prices.
Department of Justice [...]