Rice price drop seen ‘between P6-P7/kilo’

RETAIL prices of rice could go down by almost P7 a kilo in the next few months following the government’s approval of lower import tariffs, the Department of Agriculture (DA) said on Wednesday. “The potential price reduction will be between P6 [and] P7 per kilo in rice,” Agriculture Assistant Secretary …

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Inflation slightly higher, still within target in May

INFLATION edged up in May as power, housing and utility costs grew at a faster pace, the Philippine Statistics Authority (PSA) reported on Wednesday. At 3.9 percent, the result was marginally higher than April’s 3.8 percent. It was lower than the 4.0-percent median in a Manila Times poll of economists, …

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Hundreds seek shelter after eruption

HUNDREDS of people sheltered in evacuation centers on Tuesday after Mount Kanlaon erupted for six minutes on Monday night, sending a plume of ash, rocks and gases 5 kilometers into the sky. The state volcanology agency raised the alert level for the volcano from one to two on a scale …

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Speaker says China’s behavior won’t improve ties

HOUSE Speaker Martin Romualdez on Tuesday said China’s “aggressive behavior” will not improve its relations with the Philippines, after reports surfaced that the China Coast Guard (CCG) seized and dumped food and supplies meant for Filipino soldiers on Ayungin (Second Thomas) Shoal. “We bemoan what happened and hope they stop …

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Bank of Canada cuts key interest rate to 4.75%

The Bank of Canada has lowered its key interest rate to 4.75 per cent, marking the bank’s first rate cut since March 2020.  ‘We’ve come a long way in the fight against inflation,’ said BOC governor Tiff Macklem. Bank of Canada cuts interest rate, hints there could be more Citing …

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