Day: July 29, 2024

MANILA: The Office of the President (OP) is seeking a budget of PHP10.4 billion for next year, almost PHP200 million lower than its budget for 2024. According to the 2025 National Expenditure Program (NEP) posted on the Department of Budget and Management (DBM) website, the OP is proposing a total budget of PHP10,446,475,000, lower than 2024’s PHP10,645,573,000. Under OP’s spending plan, PHP1,274,479,000 is allocated for personnel services; PHP7,955,419,000 for maintenance and other operating expenses; and PHP1,216,577,000 for capital outlay. Meanwhile, there is no change in the OP’s proposed confidential and intelligence funds worth PHP4.56 billion, of which PHP2.250 billion was

MANILA: The Manila International Airport Authority (MIAA) on Monday clarified that there is no definite plan yet to close the Ninoy Aquino International Airport (NAIA) Terminal. MIAA acting General Manager Eric Ines told the Philippine News Agency that closing the terminal is unlikely to happen at the moment, but added there was an initial thought of shutting it down and expanding the Runway 13/31. “As we speak, the San Miguel Corp. (SMC) has not informed us if such a plan would push through. They initially thought of closing the Terminal 4 to expand the Runway 13/31,” he said. SMC leads

MANILA: Both the local stock market and currency declined on the first day of trading this week. The Philippine Stock Exchange index (PSEi) fell by 1.14 percent to 6,649.23 points, while All Shares also decreased by 0.68 percent to 3,605.33. Among sectoral indices, only the Industrial counter closed in the green territory, higher by 0.16 percent finishing at 9,174.50 level. Financials had the biggest drop for the day, declining by 2.65 percent; followed by Mining and Oil, down by 1.18 percent; Property, down by 0.90 percent; Services, down by 0.84 percent; and Holding Firms, down by 0.51 percent. Philstock Financials,