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Water use efficiency picks up in 2021

By   /  October 7, 2022  /  Economy, Editor's Pick  /  No Comments

The Philippine Statistics Authority (PSA) reported that the country’s water use efficiency (WUE), or the value added per volume of water used, increased to P200.06 per cubic meter (m³) in 2021, a 4.07% increase compared with P192.25m³ a year ago. However, this is still lower compared with the WUE logged in 2019 at P217.10m³. According […]

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PHL inflation still manageable — ECoP

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

THE 6.9% inflation rate in September remains “manageable” and is expected to normalize, the Employers Confederation of the Philippines (ECoP) said on Thursday. Sergio R. Ortiz-Luis, Jr., ECoP president, said on the BusinessWorld Live program on One News Channel that he considers 8% the threshold for manageable inflation. The Philippine Statistics Authority reported on Wednesday […]

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Geothermal, biomass, hydro classified as preferred dispatchers of power

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

THE Department of Energy (DoE) said on Thursday that geothermal, biomass, and hydroelectric power plants have been designated preferred dispatchers of power on the wholesale electricity spot market (WESM).    Energy Secretary Raphael P.M. Lotilla said in a statement that giving preferential dispatch will encourage investment in additional capacity for the three types of renewable plants […]

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World Bank urges Philippines to cement place in industrial, tech and health value chains

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

THE PHILIPPINES must establish its niche in the global value chains for manufacturing, technology, and health and life sciences, the World Bank said. At the launch of its Global Value Chain report on Thursday, the World Bank said the Philippines has three areas it may elect to focus on: Industrials, Manufacturing, and Transport (IMT); Technology, […]

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Frozen pork inventory rises 15% at end of September

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

THE inventory of frozen pork in accredited storage facilities rose 15% year on year to 94,234.80 metric tons (MT) at the end of September, according to the National Meat Inspection Service. Imported pork accounted for 91,645.46 MT of the total, it said. Region III accounted for 27,082.81 MT of the pork in cold storage, followed […]

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Marcos says agri ambitions go beyond self-sufficiency

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

PRESIDENT Ferdinand R. Marcos, Jr. said on Thursday that his goals for agriculture go beyond achieving self-sufficiency, and extend to making the Philippines a global leader in food production. “The work to improve our agricultural sector and improve the plight of our farmers and fisherfolk has only just begun. We need to continue to open […]

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Q1 building permit approval growth slows on rising costs

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

APPROVED building permit applications rose 1.8% year on year in the first quarter, slowing from the 9.2% posted in the fourth quarter and the 4.7% year-earlier rate. Preliminary data from the Philippine Statistics Authority indicated that first-quarter permit approvals totaled 37,270, with the building projects covered by the permits valued at P86.78 billion with a […]

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Budget realignments dismissed as insignificant

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

THE adjustments to the budget bill following its initial passage by the House of Representatives are minor and failed to touch discretionary items like confidential or intelligence funds, analysts said. Terry L. Ridon, a public investment analyst, said via chat that the amount realigned accounts for little more than 1% of the total budget. “The […]

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Electronics, food exports seen little affected by slowing global trade

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

THE Department of Trade and Industry (DTI) said resilient electronics and food exports will be the Philippines’ best bets for weathering the 2023 slowdown in trade forecast by the World Trade Organization (WTO). Trade Undersecretary Ceferino S. Rodolfo said on the sidelines of a World Bank event in Makati City on Thursday that electronics and […]

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50 power distributors seen non-compliant with order to itemize generation charge

By   /  October 6, 2022  /  Economy, Editor's Pick  /  No Comments

THE Energy Regulatory Commission (ERC) said on Thursday that 50 distribution utilities (DUs) are now under evaluation for alleged non-compliance with an order to provide their clients a breakdown of their generation charge. In a statement, the ERC said that only 65% or 91 out of the total 141 DUs itemized their generation charges. ERC […]

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