Business

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The government incurred an P11.2-billion budget deficit for the month of October, bringing the 10-month shortfall to P112.5 billion, data from the Department of Finance (DOF) showed on Thursday. The agency said that the national government’s (NG) budget deficit for the month was “well within” the P152.7 billion programmed by…

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THE Philippine benchmark stock index went down for the third consecutive time this week to almost plunge below the 6,000-point mark, as investors were still worried over the possible tapering of the United States Federal Reserve bond-buying program. Rafael Supangco, Angping and Associates Securities Inc. research head, said that the…

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VIENNA: World oil prices could head lower next year as higher output by the Organization of the Petroleum Exporting Countries (OPEC) coupled with increased shale production risks oversupplying the market despite upbeat Asian demand for crude, according to analysts. OPEC on Wednesday agreed to hold its crude production ceiling at…

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The Bases Conversion and Development Authority (BCDA) said on Thursday that it awarded to Seaoil Philippines Inc. one of the two service areas along the Subic-Clark-Tarlac Expressway (SCTEX) that the agency put up for bidding. “We welcome Seaoil to the SCTEX and we are confident that Seaoil will add to…

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ABOITIZPOWER units Visayan Electric Co. Inc., Subic EnerZone and Davao Light are working double time to restore electricity in Northern Cebu and the Fourth District of Leyte, to give its residents a spark of hope this Christmas. Around 77 linemen, engineers and staff have been deployed to Northern Cebu since…

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LEST Due Diligencer be accused again of singling out the Zobel-controlled companies, it is starting this piece by repeating what it has partially taken up in a previous column about the Manila Electric Co. and how it has been passing on to consumers additional future expenses. Last month’s piece was…

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After the storm, agony and nightmarish experience the Eastern Visayas has gone through on November 8 now comes the government’s design of bringing back the old glory that the place was known for. The intention was for the ruins to be transformed back to what it was prior the storm;…

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ABS-CBN Corp. and GMA Network Inc. (GMA) on Wednesday both claimed audience share leadership in the areas of Urban Luzon and Mega Manila for the month of November, with the two broadcasting firms citing their respective surveys done by different entities. ABS-CBN said that this November, more Filipino households across…

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Local stocks registered their second consecutive drop for the week as “external jitters,” particularly the United States Federal Reserve tapering, affected the market. The Philippine Stock Exchange index (PSEi) decreased by 1.20 percent, or 74.27 points to 6,105.23, while the wider all-shares index went down by 0.88 percent, or 33.21…

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Banks affected by Super Typhoon Yolanda received another special regulatory relief package from the Bangko Sentral ng Pilipinas (BSP). The latest measure is in addition to the earlier regulatory and rediscounting relief that the central bank extended to banks in Yolanda-hit areas. “The additional special regulatory relief measures are available…