Tuesday Jan, 31 2023 10:26:25 PM

Economic News

Fuel prices to go up Tuesday, oil firms say

COTABATO CITY – Oil companies today announced the pump prices of gasoline, diesel, and kerosene will increase by nearly P3 per liter starting Tuesday, Jan. 24.

The price adjustment was due to what the industry players call as movement of fuel prices in the world market.

They said the price of gasoline will go up by P2.80 per liter while diesel with have a P2.25 per liter increase.

Kerosene is about P2.40 per liter


BARMM approves P475-M investments for 2023

COTABATO CITY  -- The Bangsamoro Board of Investments in the Bangsamoro Autonomous Region in Muslim Mindanao (BBOI-BARMM) today announced it approved the registration of three projects with a total investment worth P475 million to kick off this year’s BARMM investment generation.

BBOI-BARMM Chairperson Mohamad Omar Pasigan named the new investment projects as the “Beauty of Life Beach Resort,” “KS Agricultural Products Trading” and “Shahada Medical and Diagnostic Clinic.”


Bangsamoro Business Congress recognizes Cotabato Light

LOOK: Cotabato Light received a plaque of appreciation from the Bangsamoro Business Council for its partnership and continued support to the development of the Bangsamoro business community.

The plaque was received by Cotabato Light Managers, Engr. Arsenio Jovero III and Engr. Anthony Bueno during day 3 of the 1st Bangsamoro Business Congress held at Cotabato State University in Cotabato City, with a theme "Strengthening Partnerships Towards a Resilient Bangsamoro Economy".



At least P2 fuel price hikes to greet motorists on Jan. 3

MANILA – Oil companies will implement big-time price increases on Tuesday, the first working day of 2023.

In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil and Shell will hike gasoline prices by PHP2.90 per liter and PHP2.10 per liter for diesel.

Caltex, Seaoil, and Shell will also increase kerosene prices by PHP3.05 per liter.

According to Shell, high freight rates pushed higher fuel prices at the start of this year.

Meanwhile, prices of liquefied petroleum gas (LPG) went down by PHP3.09 to PHP4.20 per kilogram effective Jan. 1.


SIM registration to curb scams, spams: NTC 11

DAVAO CITY – The national registration of SIM cards for all mobile phones is seen to curb the proliferation of short message service (SMS) scams and spam messages, the National Telecommunications Commission in Davao Region (NTC-11) said Friday.

NTC-11 Director Nelson Cañete believes that by validating the identity of mobile phone users and their respective phone numbers, tracking entities behind phone scams will become much easier.


BOC intercepts P20-M smuggled onions at Misamis Oriental port

MANILA – Authorities have intercepted two containers of smuggled onions worth PHP20 million at the Mindanao Container Terminal Port in Misamis Oriental on Wednesday.

In a statement on Thursday, the Bureau of Customs (BOC) said the shipments were seized in a joint operation of the BOC Northern Mindanao, Customs Intelligence and Investigation Service (CIIS), Enforcement Security Services (ESS), Department of Agriculture (DA), the Philippine Drug Enforcement Agency (PDEA) and Chamber of Customs Brokers, Inc. (CCBI).


BARMM business chamber leaders welcome Chinese traders’ intent to invest in the region

COTABATO CITY  – Business leaders in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) on Saturday welcomed the announcement of Chinese Consul General Li Lin that 500 traders eye the region as investment destination.

“This is a very welcome development,” said Atty. Ronald Torres-Dimacisil, president of Bangsamoro Business Chamber (BBC).

Director General Rosslaini Alonto-Sinarimbo of BARMM’s Ministry of Trade, Investment and Tourism (MTIT), has said the declining peace and order issues contributed in making the region investment destination.


BARMM approves P75-M investments before the year ends

COTABATO CITY  – The Bangsamoro Board of Investments (BBOI-BARMM) convened on Friday, December 9, 2022 and approved the registration for expansion of Kaltimex Rural Energy Corporation.


PAL opens Cebu-Cotabato-Cebu flight route

COTABATO CITY - Simula ngayong araw ay magkakaroon na ng ruta ang Philippine Airlines mula Cotabato City patungong Cebu City at vice-versa.

Ayon kay Philippine Airlines Cotabato Branch Manager Delfin Tubera Jr, magkakaroon ng dalawang flight bawat linggo o tuwing lunes at huwebes.

Dati, ang mga air traveler mula Cotabato at Bangsamoro Region papuntang Cebu ay kailangan pang magtungo ng Davao o Gen. Santos City.


Red onion harvest in Dec. to help stabilize price: DA

MANILA – Upcoming harvest of red onions in December shall help the supply situation in the country, amid the soaring market prices, according to the Department of Agriculture (DA).

In the Laging Handa press briefing, DA Assistant Secretary Kristine Evangelista said several farmers confirmed harvest dates next month.



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