Business

The National Economic and Development Authority (NEDA) Board approved the P17 billion New Dumaguete Airport Development Project on Thursday, February 2, NEDA Secretary Arsenio Balisacan announced Friday.Under the project, a new airport in Bacong, Negros Oriental, will be developed with domestic and international standards for operational safety and efficiency, Balisacan said in a statement.The project will be implemented within seven years, he added.It will replace the existing Dumaguete-Sibulan Airport “due to physical and operational constraints”, Balisacan said.“The New Dumaguete Airport shall enhance the province’s tourism and trade potential, economic activities, and standard of living,” he said.The total project cost is P17 billion, of which P13 billion will be fu...

Mayor Alfredo Abelardo Benitez announced Thursday, February 2, that the Chinese investors planning to put up an electric vehicle manufacturing plant arrived in Bacolod City this week.They plan to put up a $200 million (P10.7 billion) plant in the city, he said.Benitez met with the chief executive officer and chairman of the Jiangsu Fengchuen New Energy Power Technology Co. when he joined President Ferdinand Marcos Jr. during his state visit to China in January.The mayor said he met with the investors on Wednesday, who are continuing their due diligence work in Bacolod.“They sounded really excited so I hope it really pushes through,” he said.The investors want to make sure that all bases are covered before putting in that huge investment, Benitez said.The firm, in co...

Two planters federations joined the call for a lesser volume of sugar importation than the 450,000 metric tons proposed by the Sugar Regulatory Administration for the two months buffer stock of sugar.In a joint letter submitted to the SRA Monday, January 30, the National Federation of Sugarcane Planters (NFSP) headed by Enrique D. Rojas and the Panay Federation of Sugarcane Farmers (PANAYFED) headed by Danilo A. Abelita called for the importation of only 350,000 mt of sugar to arrive in two tranches after the close of the current milling season and before the opening of the coming milling season on September 2023.The stand of NFSP and PANAYFED was reached in collaboration with the Confederation of Sugar Producers Association (CONFED) headed by Aurelio Gerardo J. Valderrama, Jr, whi...

Expect another round of fuel price increases on Tuesday, January 31, Unioil Petroleum Philippines Inc. said Saturday, January 28.It said diesel prices will increase by P0.80 to P1 per liter, and gasoline by P1.20 to P1.40 per liter.On Tuesday last week the price of gasoline was raised by P2.80 per liter, diesel by P2.25 per liter, and kerosene by P2.40 per liter.*

Globe deactivated and blacklisted more than 50,000 SIMs last year as it continued to intensify consumer protection initiatives amid the rising cases of online fraud.Globe deactivated 20,225 SIMs and blacklisted 35,333 SIMs involved in scam and spam messages in 2022 alone as part of its campaign for internet safety, a press release from the firm said Friday, January 27.This was on top of the record 2.72 billion scam and spam messages it blocked last year, 83.4 million of which were bank-related. All these efforts have been on-going to protect customers from harmful content and fraud before the enactment of the SIM Registration Act."Globe recognizes the growing threat posed by scammers, who use various tactics, including text messages, to deceive innocent victims into giving up p...

Negros Occidental Gov. Eugenio Jose Lacson said on Wednesday, January 25, that the sugar industry is not totally against importation, what is important is the volume and timing of the entry of the sugar into the country.“We’re not against it for as long as we will avoid smuggling and the importation is well studied,” he said.The sugar should be brought in at the end of milling, he said.“We trust our new officers of the Sugar Regulatory Administration (SRA) to study it very well”, Lacson said.The United Sugar Producers Federation earlier said it fully supports the recommendation of the Department of Agriculture and the SRA to import 450,000 metric tons of refined sugar to help arrest retail prices."We are fully supporting the decision of President Ferdinand Marcos Jr. to...

Ferry trips from the Pulupandan Port in Negros Occidental to the Sebaste Port in Guimaras began Saturday, January 21."It’s a positive tourism development for both Guimaras and Negros," Gov. Eugenio Jose Lacson said Sunday, January 22.There will be two trips a day, NaviMar Shipping announced on its Facebook page.*

Kevin Andrew Tan receives a resolution from Mayor Alfredo Abelardo Benitez (3rd and 4th from left) and the Sangguniang Panlungsod members declaring him honorary mayor of Bacolod from January 20 to 22 during the Spring Festival Gala Sunday night, January 22*Ronnie Baldonado photoMegaworld’s chief strategy officer Kevin Andrew Tan reiterated the commitment of his firm to generate around 250,000 direct and indirect jobs once the construction of its two townships in Bacolod City is completed.“Every investment penny is worth pouring in here now. Bacolod is rising and we want to be part of it,” he said, adding that they also have a huge parcel of land in Negros Occidental that they plan on developing.Tan was the guest of honor at the Bacolaodiat Spring Festival Gala at the SMX Conven...

Expect a large increase in fuel prices starting Tuesday, January 24, to January 30, Unioil Petroleum Philippines Inc. said on Saturday.Diesel prices will increase by P2.30 to P2.50 per liter and gasoline by P2.90 to P3.10 per liter, it said.Last week oil companies increased gasoline prices by 95 centavos per liter and diesel by 50 centavos per liter.*