Day: September 9, 2024

Manila: Big-time price rollbacks on petroleum products are expected on Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they will reduce gasoline prices by PHP1.55 per liter while slashing diesel prices by PHP1.30 per liter. Caltex, Seaoil, and Shell will also cut kerosene prices by PHP1.40 per liter. Other local oil industry players are also expected to follow suit. Last week, oil firms implemented increments of below PHP1 per liter on pump prices. With the price adjustments last week, Department of Energy (DOE) data showed that year-to-date prices of gasoline and diesel stood at

Manila: The House appropriations committee swiftly terminated the proposed 2025 budget of the Office of the President (OP) on Monday. It took the House panel less than 20 minutes to tackle the OP’s proposed budget for next year amounting to PHP10.5 billion, down 1.88 percent from this year’s budget. Executive Secretary Lucas Bersamin, in his speech, stressed that the OP will fully cooperate with Congress to be able to fulfill its constitutional mandate as the keeper of the purse and maintain a cooperative relationship with its “co-equal” branch of government. “Our attendance here as a delegation from the Office of

TACLOBAN CITY – The recent discoveries of arms caches in Leyte and Samar provinces signal the victory of the government’s fight to end insurgency in the region, an official of the Philippine Army said on Monday. Brig. Gen. Noel Vestuir, commander of the Army’s 802nd Infantry Brigade, said the participation of villagers and former rebels in peace initiatives largely contributed to the unearthing of firearms and an explosive buried by the New People’s Army (NPA). “The involvement of former rebels has significantly weakened the NPA’s capabilities in Samar and Leyte. We expect more discoveries in the coming days as the

Manila: The proportion of non-performing loans (NPLs) of banks to their total loans settled at 3.58 percent in July this year, the Bangko Sentral ng Pilipinas (BSP) said. Data released by the BSP showed that the NPL ratio in July was slightly higher than the 3.51 percent seen in June this year and the 3.43 percent in July last year. BSP data showed that the gross non-performing loans reached PHP508.10 billion, up from the PHP440.07 billion in July last year. In a Viber message on Monday, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the NPL ratio went up

Manila: President Ferdinand R. Marcos Jr. approved the recommendation of Justice Secretary Jesus Crispin Remulla to relieve Bureau of Immigration (BI) Commissioner Norman Tansingco due to irregularities in the agency. Communications Secretary Cesar Chavez confirmed Marcos’ decision in a message to Palace reporters Monday. In a television interview, Remulla said he had completely lost trust and confidence in Tansingco due to irregularities in the BI, including the sneaky escape of dismissed Bamban, Tarlac mayor Alice Guo and the supposed issuance of visas to fake corporations. According to Remulla, he had raised concerns with Tansingco regarding allegations that working visas were