Combination of latest Bangko Sentral ng Pilipinas (BSP) rate decision and economic news from the US resulted in the negative close of both the main stocks gauge and the peso on Friday. The main gauge shed 0.26 percent, or 18.77 points, to 7,280.57 points. All Shares declined by 1.41 percent, or 55.59 points, to 3,878.11 points. Most of the sectoral indexes also finished the trade in the negative territory with the Mining and Oil declining by 2.84 percent; Financials and Holding Firms, both down by 0.66 percent; and Industrial, 0.03 percent. On the other hand, Property rose by 0.35 percent
The first phase of the PHP15-billion Tipo Hightech Eco Park (THEP) is expected to be completed by next year. Subic Bay Metropolitan Authority (SBMA) chairman and administrator Wilma Eisma said on Friday the 58.49-hectare Phase 1 area of the eco-friendly mixed-use project is now 57.81 percent complete, with Phase 2 and Phase 3 development also underway. The THEP is a 209-hectare development in a newly-opened expansion area of the Subic Bay Freeport. “This used to be an area for the SBMA’s social fencing program, wherein several families of upland farmers occupied grasslands in the Subic Bay Freeport Zone, planted them
The Court of Appeals (CA) dismissed a petition filed by 22 former employees of broadcast firm TV5 Network Inc. questioning their retrenchment four years ago. In a recent ruling, the CA 14th Division upheld the 2018 National Labor Relations Commission (NLRC) decision that the terminations were justified and substantiated by the cash-strapped company. The arbiter found that TV5 was able to prove its losses in billions of pesos from 2013 to 2016, prompting the network to strip down its entertainment division following poor ratings, cancel most programs, and shift television content from foreign producers as part of cost-reduction measures. The
The worldwide market for halal products has reached $7 trillion, the head of the World Halal Union said on Thursday. As world trade develops and the number of manufacturers entering the market increases, demand for certificates informing Muslim consumers that the products they buy are halal is also increasing, Ahmet Gelir told Anadolu Agency. Underlining that Muslim countries had begun to be taken seriously in many fields, including food, cosmetics, chemicals and cleaning products, agricultural products, energy, tourism, and finance, Gelir said that work on international halal standards started in the 2000s and accelerated as Turkey got involved. Turkey spearheaded
The Philippine Charity Sweepstakes Office (PCSO) donated on Friday PHP5.9 million worth of food packs, medicines, and medical devices to local government units (LGUs) and national government agencies (NGAs) in the province of Pangasinan. PCSO vice-chairperson and general manager Royina Marzan Garma said the donations were part of their corporate social responsibility. “We have a moral obligation to support not only the medical needs but also specific programs of the different agencies,” she said in an interview. Garma said the program was above the charity works being done by the PCSO. “Most of the donations today were maintenance medicines, medical
The Bureau of Immigration (BI) on Friday said it has recently received three vehicles donated by the Chinese Embassy to help the agency in its operations against erring foreigners. Commissioner Jaime Morente personally received the donation from Chinese Ambassador to Manila Huang Xilian at the BI’s head office in Manila on November 16. He thanked the Chinese government for the donation, noting that it would greatly assist the bureau in transporting arrested illegal aliens. “Even during the pandemic, we have been relentless in our drive against illegal aliens. Overstaying aliens, fugitives, and those who attempt to violate the conditions of
