Category: General

Manila: The local stock barometer declined on Wednesday due to last-minute profit-taking, while the peso barely moved. The Philippine Stock Exchange index (PSEi) shed 19.46 points to 7,155.90 while All Shares also slightly declined by 2.21 points to 3,847.96. “Last minute profit taking sent the local market lower this Wednesday by 0.27% to 7,155.90. Investors booked gains following the bourse’s two-day rally,” said Philstocks Financial research manager Japhet Tantiangco. “Investors also took a cautious stance while waiting for the Federal Reserve’s policy decision,” he added. Sectors were mixed with the miners gaining the most, up by 1.83 percent. Banks lost

Manila: The Commission on Human Rights (CHR) said Wednesday it supports the filing of a bill that safeguards the fundamental rights of Filipino workers and promotes fair labor practices. Senate Bill (SB) 2735, also known as the Strengthening the Freedom of Association of Workers Act, was filed by Senator Jinggoy Estrada to prohibit restrain, harassment or interference with private workers, unions, or labor organizations in exercising their right to self-organization. The bill heightens legal protections for workers’ rights to association, acknowledging their role in improving labor conditions and promoting peace and progress. “The Commission commends SB 2735 as it reinforces

Manila: Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the central bank is eyeing a “substantial” reduction in banks’ reserve requirement ratio (RRR) this year. “I have promised a cut in the reserve requirement. We’re considering it. We’ve discussed the timing of it. I would say it’s going to happen this year,” Remolona said in a briefing at the BSP head office in Manila on Wednesday. “We will reduce reserve requirements substantially this year and then there may be further reductions by next year,” he added. Reserve requirements refer to the percentage of bank deposits and deposit substitute

Manila: President Ferdinand R. Marcos Jr. on Tuesday expressed optimism about the Philippine government’s continued collaboration with Marubeni Corporation, one of Japan’s leading trade and investment companies, to sustain the country’s economic development. In a meeting with Marubeni president and chief executive officer Masumi Kakinoki at Malacañan Palace in Manila, Marcos acknowledged the Japanese firm’s century-long presence in the country and vital role in the Philippine development agenda. ‘I hope we can do more because that’s really a very important part of our development program. So welcome once again,’ Marcos told Kakinoki during the meeting, as quoted by the Presidential

BUTTERWORTH, The owners of seafood restaurants along Pantai Bersih here suffered losses between RM50,000 and RM200,000 after their business premises were battered by huge waves and high tides yesterday. They have also had to close their restaurants for an extended period as they need to carry out extensive repairs to the damaged premises. Restaurant owner, Low Kok Seng, 59, said he had just opened his business at 11 am yesterday and around noon, he stopped customers from dining outdoors near the beach as the waves grew stronger and the sea level rose. “The huge waves came suddenly, and luckily, at