Day: December 3, 2024

Manila: Shares declined on Tuesday as investors await further signs of global economic recovery, while the peso barely moved. The Philippine Stock Exchange index (PSEi) slightly declined by 0.13 percent to close at 6,734.21. All Shares, however, went up by 0.06 percent to 3,791.77. According to Philippines News Agency, “Philippine and US equities delivered mixed results as investors await more data that would confirm that the world economy continues to show signs of recovery,” Regina Capital Development Corp. managing director Luis Limlingan said. Sectors were mixed with Financials, Industrial, and Property closing in the red, while Services and Mining and

Manila: The House Ways and Means Committee has given its nod to a legislative measure designed to streamline government procedures for strategic, high-impact investments, thereby improving the ease of conducting business in the Philippines. Bukidnon 1st District Representative Jose Manuel Alba expressed approval for the committee’s endorsement of House Bill (HB) 8039, which aims to institutionalize Executive Order No. 18. This order established a system of green lanes across governmental offices to expedite the approval processes for strategic investments. According to Philippines News Agency, the proposed Green Lane for Strategic Investments legislation is in alignment with the governmental objective of

BACOLOD CITY: Almost 3,000 casual and permanent employees of the provincial government here can now avail of the benefits under the Negros Occidental Comprehensive Health Program (NOCHP). Randy Peacita, president of the Progressive Alliance of Capitol Employees (PACE), announced that Governor Eugenio Jose Lacson issued an executive order extending the coverage to these employees, who were previously not included. According to Philippines News Agency, only job order and contract of service workers were covered starting in 2023. Peacita expressed gratitude for the expanded coverage, stating, “We are thankful that the governor expanded the coverage. Each staff enrolled in the NOCHP

TACLOBAN CITY: Officials in Eastern Visayas joined local fisherfolk of Panaon Island in urging the Senate to approve the bill declaring the area a protected seascape. In a statement Tuesday, lawyer Jam Colas-Villaber, Eastern Visayas Regional Development Council secretary and National Economic Development Authority Assistant Regional Director, said the highest policy-making body of the region has been lobbying for the passage of the proposed legislation in the Senate. “This is a crucial step to safeguard the preservation and sustainable management of the island’s unique marine biodiversity for future generations,” Villaber said. According to Philippines News Agency, Department of Tourism Eastern

Manila: The country’s total outstanding debt slightly increased by 0.8 percent to PHP16.02 trillion as of end-October, data released by the Bureau of the Treasury (BTr) on Tuesday showed. “The increase was primarily driven by the valuation impact of peso depreciation against the US dollar from 56.017 at end-September 2024 to 58.198 at end-October 2024,” the BTr said. According to Philippines News Agency, domestic debt, which accounted for about 67.98 percent of the total debt stock, amounted to PHP10.89 trillion, 0.4 percent lower than the end-September level. The BTr said the decline was primarily due to the PHP52.65 billion net