Business

Risk of economic contraction lingers with El Niño’s return

THE Philippines’ weak economic growth may persist until the first semester of the year because of the El Niño phenomenon, according to economists.

Defense sec junks 500M-peso bid for ammo

DEFENSE secretary Gilbert "Gibo" Teodoro junked the recent P500 million pesos bidding for the purchase of mortar ammunition.

LTFRB mulls formula for PUV fare

THE Land Transportation Franchising and Regulatory Board (LTFRB) is coming up with a parametric formula to help the agency determine fares of public vehicles.

RP pushes for new tax measures

Philippine government officials agreed recently to immediately push for congressional measures, specifically the taxes on tobacco and alcohol products and five-centavo fee on text and calls, to shore up additional revenues as the administration is poised to increase its budget gap for the year.

RP's economic plan tempers unemployment rate in April to 7.5%

The Philippines’ economic resiliency plan (ERP) has tempered the country’s unemployment rate in April this year despite the global financial crisis, the National Economic and Development Authority (NEDA) said.