300 tons of smuggled vegetables seized in raid
MANILA, Philippines — At least 300 tons of smuggled vegetables were confiscated during a raid on an illegal warehouse in Navotas on Thursday night.
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Fuel prices going up next week
MANILA, Philippines — Following hefty rollbacks this week, pump prices for petroleum products are expected to increase by as much as P1.10 per liter next week.
Joint DA, BOC raid on AN ILLEGAL warehouse IN NAVOTAS, yields over 300 tons of smuggled vegetables
Acting on information provided by Agriculture Secretary Francisco P. Tiu Laurel Jr., a composite team from the Department of Agriculture-Inspectorate and Enforcement Office, the Bureau of Customs, and other law enforcement units, raided an illegal storage facility in Navotas, Thursday night, that led to the discovery and seizure of over 300 tons of smuggled vegetables, including onions and carrots.
House issues show cause order vs POGO-linked individuals, including Roque's 'assistant'
BACOLOR, Pampanga — A combination of four committees at the House of Representatives on Friday issued a show cause order against several individuals, including former presidential spokesperson Harry Roque's former "executive assistant," for snubbing its joint inquiry into the connection of Philippine offshore gaming operators (POGO) and the illegal drug trade.
Xchange Forex 2018, Puresteel 2011 naka-una sa SHAABAA division finals | Banat
CEBU, Philippines — Ang Xchange Forex Batch 2018 ug Puresteel Manufaturing Corp. Batch 2011 miposte og 1-0 nga bentaha sa best-of-three division finals sa Sacred Heart Ateneo Alumni Basketball Athletic Association (SHAABAA) Season 27 dkidto sa Sacred Heart School-Ateneo de Cebu (SHS-AdC) Magis Eagles Arena sa Barangay Canduman, dakbayan sa Mandaue.
BSP cuts interest rate 25 basis points
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) [link] decided to cut interest rates by 25 basis points to 6.25% (from 6.50%). This is the first rate cut since 2020, and the first time the interest rate has changed in any way (up or down) since October of last year. The BSP’s statement on the cut said that its inflation outlook is “supported by well-anchored inflation expectations over the policy horizon”, and that the “balance of risks to the inflation outlook continues to lean toward the downside for 2024 and 2025.” The downside risk to inflation (that inflation will be lower than projected) is “linked mainly to lower import tariffs on rice”. The BSP concluded as follows: “With inflation on a target-consistent path, the current macroeconomic outlook supports a calibrated shift to a less restrictive monetary policy stance. Nonetheless, monetary authorities remain mindful of lingering upside risks to prices.”
Asian stocks follow Wall Street climb
HONG KONG, China — Asian markets mostly mirrored positive strides on Wall Street in early trade Thursday, as easing US consumer inflation buoyed hopes that a big interest rate cut was around the corner and economic growth in Japan outpaced expectations.
Press Release - Villar bats for RTL extension, revisions
To reinforce the protection of local rice producers and to respond to the appeals of stakeholders in the rice industry, Senator Cynthia Villar sponsored the extension and amendments to the Rice Tariffication Law (RTL), or Republic Act No. 11203, that created the Rice Competitiveness Enhancement Fund (RCEF) from tariffs collected on imported rice.