Business News
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In an effort to enhance the country’s international collaboration and alignment with global best practices, the Bureau of Customs (BOC) participated in the 244th and 245th sessions of the World Customs Organization (WCO) Permanent Technical Committee (PTC), which were held in Brussels, Belgium, from October 23 to October 25, 2024. These meetings operate under the…
The Bank of Japan (BOJ) on Thursday decided to keep its policy interest rate steady at 0.25 percent, according to an official statement. The Japanese economy is likely to keep growing at a pace above its potential growth rate, it said. The bank said annual inflation is likely to be at 2.5 percent for fiscal…
The Bangko Sentral ng Pilipinas (BSP) expects inflation for October 2024 to fall within a range of 2 percent to 2.8 percent, citing increased costs for food and fuel as the main contributors to inflationary pressures. “Higher prices of food commodities, such as vegetables, fruits, and fish, as well as the increase in prices of…
Finance Secretary Ralph Recto urged top British companies to invest in the Philippines, highlighting mutually beneficial partnerships that benefit both investors and the country’s long-term development goals, including poverty reduction. According to a news release on Thursday, Recto, along with senior Philippine government officials, met with executives of companies including BP Plc, Actis, Global Infrastructure…
The Philippines registered nearly P1.03 billion in foreign direct investment inflows in September, data from the Bangko Sentral ng Pilipinas (BSP) showed. The BSP said net inflows in September were 92% higher ($491.82 million) than the net inflows posted in August 2024 (US$533.95 million). “Transactions on foreign investments registered with the BSP, through authorized agent…
The Bureau of Customs-Ninoy Aquino International Airport (BOC-NAIA) intercepted a parcel containing PhP10.01 million worth of high-grade marijuana, or “kush,” on October 30, 2024. A thorough physical examination revealed 7,154 grams of kush concealed within the parcel, with an estimated street value of P10,015,600. The intercepted drugs were handed over to the Philippine Drug Enforcement…
MPower, the local retail electricity supplier of the Manuel V. Pangilinan-led Manila Electric Company (Meralco), has signed a retail supply agreement with Pepsi-Cola Products Philippines Inc. (PCPPI) for two beverage manufacturing plants located in Muntinlupa City and Sto. Tomas, Batangas. As part of the partnership, PCPPI was also invited to participate in other MPower programs…
This October, in celebration of Cyber Security Awareness Month, global cyber security firm NCC Group reaffirmed its commitment to supporting the development of cyber security professionals in the Philippines. According to the latest numbers from NCC Group’s Threat Pulse, the number of total ransomware cases worldwide increased by 13.5% year over year. “The threats continue…
ServiceNow, the AI platform for business transformation, and Rimini Street announced an expanded partnership that enables organizations to unlock value in existing ERPs and enterprise applications to fund innovation and growth. The new solution combines the power of ServiceNow’s single architecture and single data model with Rimini Street’s proven enterprise software support to accelerate customer…