Business
PSEi slips, peso almost flat after US inflation slowdown
June 14, 2023, 7:15 pm
MANILA – The further slowdown of the United States’ inflation in May made investors turn to the US anew, resulting in the negative close of most counters in the local bourse but the peso barely moved against the greenback. The Philippine Stock Exchange index (PSEi) shed 1.12 percent, or 73.2… Read More
ADB stands ready to help PH in clean energy transition
June 14, 2023, 7:01 pm
MANILA – The Asian Development Bank (ADB) remains committed to assist the Philippines in rolling out initiatives for clean energy transition. At the sidelines of the Asia Clean Energy Forum (ACEF) 2023 at the ADB headquarters Wednesday, ADB Principal Energy Specialist David Elzinga said the… Read More
BTr fully awards reissued 20-year T-bonds
June 14, 2023, 4:30 pm
MANILA – The Bureau of Treasury (BTr) on Wednesday fully awarded the reissued 20-year Treasury bonds. In a statement, the BTr said the T-bonds fetched an average rate of 6.085 percent. This was lower than the coupon rate of 6.500 percent when it was first issued in February 2018. The bonds have… Read More
World Bank approves policy loan for climate resilience
June 14, 2023, 3:41 pm
MANILA – The World Bank on Wednesday approved a USD750 million development policy loan (DPL) to boost environmental protection and climate resilience in the Philippines. In a statement, the World Bank said the Philippines’ First Sustainable Recovery Development Policy Loan supports ongoing… Read More
290 schools energized with solar photovoltaic system
June 14, 2023, 2:22 pm
MANILA – Some 290 public schools across the country were energized by solar photovoltaic (PV) system through One Meralco Foundation’s (OMF) community electrification program. OMF told the Philippine News Agency (PNA) Wednesday that these schools are from 38 provinces and benefitted 89,235… Read More
Strong demand results in BSP term deposit facility rate upticks
June 14, 2023, 2:20 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility rose on Wednesday as bids exceeded the upsized offering for both tenors. The average rate of the seven-day facility inched up to 6.5933 percent from 6.5823 percent during the auction last June 7. The rate of the… Read More
Developer expands Luzon land bank to support expansion
June 13, 2023, 7:22 pm
MANILA – Leading mid-segment developer DMCI Homes reported a 49-percent increase in its Luzon land bank from 65.1 hectares to 96.9 hectares after acquiring properties in Batangas, Bulacan, Laguna and Pampanga provinces. With the expanded land bank, DMCI Homes plans to develop new formats such as… Read More
DOE: Biz invests P6.8B in energy efficiency
June 13, 2023, 6:37 pm
MANILA – The Department of Energy’s (DOE) Energy Utilization Management Bureau on Tuesday said designated establishments (DEs) have invested PHP6.8 billion in energy efficiency and conservation (EEC) initiatives from 2021 to 2022. DEs —identified by the DOE as energy-intensive sectors—… Read More
Peso strengthens, PSEi nearly flat ahead of US inflation report
June 13, 2023, 6:13 pm
MANILA – The local bourse’s main index barely moved Tuesday at the start of the shortened trading week ahead of the release of the United States inflation report for May but the peso improved against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.002 percent, or 0.11… Read More
Economist eyes recovery of FDIs to PH
June 13, 2023, 5:56 pm
MANILA – An economist is optimistic about the recovery of foreign direct investments (FDIs) to the Philippines despite its 30.7 percent year-on-year drop in March 2023 to USD548 million, the lowest in two months. The Bangko Sentral ng Pilipinas (BSP) on Tuesday attributed the latest FDI level to… Read More
Mixed results for T-bills auction
June 13, 2023, 4:57 pm
MANILA – Results were mixed in Tuesday's Treasury bill (T-bill) auction as the Bureau of Treasury (BTr) decided to fully award bids for the 182- and 363-day securities while partially awarding the 91-day T-bills. The 182- and 363-day securities fetched average rates of 5.978 percent and 6.062… Read More
May auto sales jump 44.8%
June 13, 2023, 4:30 pm
MANILA – The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported on Tuesday that year-on-year automotive vehicle sales for May grew by 44.8 percent. The joint report of CAMPI and TMA shows that vehicle sales in May 2023… Read More
Fitch unit cites gov’t policies in boosting renewables
June 13, 2023, 1:05 pm
MANILA – Fitch Solutions unit BMI said the recent policies of the Philippine government have been boosting the renewable energy (RE) sector that can help the country achieve energy security. In its industry trend analysis released to the media Tuesday, BMI said strong government support has… Read More
Economist sees peso stabilizing at 55 to 56 vs. US dollar
June 12, 2023, 8:00 pm
MANILA – The Philippine peso is expected to stabilize between 55 to 56 against the greenback ahead of the expected pause in the Federal Reserve’s rate hiking cycle and continuation of the same decision for the Bangko Sentral ng Pilipinas (BSP) this month. In a report, Rizal Commercial Banking… Read More
Over 10% bank lending growth seen after RRR cut
June 12, 2023, 7:56 pm
MANILA – The reduction in banks’ reserve requirement ratio (RRR) by as much as 2.5 percentage points is expected to boost growth in bank lending to above 10 percent in the near term, an economist said. In a reply to emailed questions from the Philippine News Agency (PNA), Rizal Commercial… Read More
Oil price hike set June 13
June 12, 2023, 1:56 pm
MANILA – Motorists and consumers should brace for higher costs of fuel products as oil firms will implement big-time price hikes effective Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they will hike gasoline prices by PHP1.20 per liter and PHP1.40 per… Read More
BSP’s polymer bill promotion wins international award
June 11, 2023, 4:22 pm
MANILA – The communication campaign of the Bangko Sentral ng Pilipinas (BSP) for the PHP1,000 polymer banknote was recognized recently by the International Association for Currency Affairs (IACA) at the 2023 Excellence in Currency Award in Mexico City. The campaign for the PHP1,000 polymer bill… Read More
DOF: Toll fee increase petitions approved fairly
June 11, 2023, 12:21 pm
MANILA — The government carefully studied and analyzed petitions to increase toll fees, assured Department of Finance (DOF) Secretary Benjamin Diokno on Sunday. Diokno issued the statement after the North Luzon Expressway (NLEX) Corp. announced that it would implement an increase in toll fees… Read More
Average farmgate price of palay up in March
June 11, 2023, 11:49 am
MANILA — The average farmgate price of palay at the national level went up to PHP18.57 per kilogram in March this year, the Philippine Statistics Authority (PSA) said. PSA data released over the weekend showed that the average farmgate price of palay during the month was higher by 6.5 percent… Read More
DBP offers credit assistance to expand water sources amid El Niño
June 10, 2023, 11:13 am
MANILA – The state-owned Development of the Bank of the Philippines (DBP) has offered to provide credit assistance to water districts, local government units, and water utility firms to expand production capacity and explore additional water sources amid the looming onset of the El Niño… Read More
