Day: October 23, 2024

MANILA: Local shares declined on Wednesday as investors took a cautious stance. The Philippine Stock Exchange index (PSEi) declined by 0.61 percent to 7,367.66, while All Shares fell by 0.85 percent to 4,050.76. “The local market pulled back this Wednesday by 0.61% to 7,367.66. Investors took a cautious stance as the local market remains without a fresh positive catalyst,” said Philstock Financials, Inc. research manager Japhet Tantiangco. The miners led the sectors in Wednesday’s trading, adding 0.43 percent. The services lost the most, shedding 1.92 percent. Decliners edged advancers 128 to 71. The peso-dollar trading, meanwhile, was suspended on Wednesday.

Western Visayas’ Regional Disaster Risk Reduction and Management Council (RDRRMC) approved Resolution 7, recommending the declaration of a 4-km. permanent danger zone (PDZ) set by the Philippine Institute of Volcanology and Seismology (PHIVOLCS) in Mt. Kanlaon as a strict protection zone (SPZ). ‘Under the law, when this particular area will be categorized as a strict protection zone, meaning to say there will be no human activity except for research and Indigenous People cultural practices,’ Melissa Banias, chief of the operations section of the Office of Civil Defense, said during the RDRRMC full council special meeting in Iloilo City on Tuesday

MANILA: President Ferdinand R. Marcos Jr. has assured members of the country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI), of his administration’s support in advancing local businesses. In his speech at the 50th Philippine Business Conference anbd Expo (PBCE) in Pasay City Wednesday delivered by Special Assistant to the President for Investment and Economic Affairs Secretary Fredrick Go, the Chief Executive said the administration has implemented programs and pushed for legislation that will facilitate the growth of businesses to support the expansion of the economy. ‘We have always stood by you, and you have supported the

The city government here has partnered with a middle-market residential developer giant and a business group for the construction of 100 residential housing units aligned with the Pambansang Pabahay Para sa Pilipino (4PH) program of the Marcos Administration. Mayor Raymond Alvin Garcia said he is set to sign an agreement with SM Development Corp. (SMDC), SM Prime’s wholly-owned residential developer, and the Cebu Chamber of Commerce and Industry (CCCI) to put up the transitional housing units. He said the units, to be constructed at Block 27 at the North Reclamation Area, will benefit residents who lost their homes due to

MANILA – Power restoration efforts are underway to bring back electricity supply to 970: Trami) mostly in Luzon and Visayas regions. During the Task Force on Energy Resiliency (TFER) press conference Wednesday, National Electrification Administration (NEA) Director Eric Campoto said initial estimated damage cost to power infrastructure due to the typhoon amounted to PHP971,410, as reported by Nueva Ecija II Electric Cooperative-Area 1 and Tablas Island Electric Cooperative, both in Luzon; and Leyte II Electric Cooperative in the Visayas. ‘Inaasahan po natin na baka po tumaas po itong damage cost kasi po ‘yong ibang ECs (electrical cooperatives) po ay ongoing