Factory output fell to 20-year low in April

The volume and value of products churned out by the country’s factories fell to a 20-year low in April amid the enhanced community quarantine (ECQ)—among the most restrictive COVID-19 lockdowns in the region—which put a halt to business activities in areas comprising almost three-fourths of the economy. The Philippine Statistics Authority’s (PSA) monthly integrated survey […]

Gov’t infra spending to rebound in 2021

While infrastructure spending took a back seat to big financing needs for COVID-19 response this year, the Department of Budget and Management (DBM) said big-ticket projects would be allocated a bigger budget next year to fast-track economic recovery after the...

Inflation eased to 6-month low of 2.1% in May

As transport costs fell while most Filipinos stayed at home during the COVID-19 quarantine, inflation eased to a six-month low of 2.1 percent year-on-year in May, the government reported on Friday. Philippine Statistics Autho­rity (PSA) data showed that last month’s...

Phoenix launches rewards program for PUV drivers

Phoenix Petroleum Philippines Inc. has launched a rewards program for patrons who drive public-utility vehicles (PUV) and who lost their livelihood due to the COVID-19 pandemic, as it touts having outperformed and “remained relatively unscathed” compared with the oil...

PAL losses widened to P9.4B in 1st quarter

The listed operator of Philippine Airlines (PAL) posted a P9.4-billion loss in the first quarter of 2020, reflecting the stagge­ring impact the new coronavirus disease (COVID-19) pandemic has unleashed on the aviation sector. Taipan Lucio Tan’s PAL Holdings Inc. said...