Business
BOI foreign investment approvals surge Jan-May to over P400-B
June 4, 2023, 3:53 pm
MANILA – Approved investments from foreign sources at the Board of Investments (BOI) posted a significant increase in the first five months of the year. Department of Trade and Industry (DTI) Undersecretary and BOI managing head Ceferino Rodolfo told trade reporters in a Viber message over the… Read More
TPLEX extension to boost growth in N. Luzon
June 4, 2023, 11:58 am
MANILA – The approval of the PHP23.4-billion 59.4-kilometer Tarlac-Pangasinan-La Union Expressway (TPLEX) extension project will further spur economic development in Northern Luzon, the Department of Finance (DOF) said. “The TPLEX Extension Project’s swift approval demonstrates the… Read More
Ayala-led bank on track to meet sustainability financing goals
June 3, 2023, 3:55 pm
MANILA – The Ayala-led Bank of the Philippine Islands (BPI) is on track to retire coal financing in support of the country’s sustainability efforts. In a briefing Friday night, chief finance officer and chief sustainability officer Eric Luchangco said BPI has not financed energy projects that… Read More
Madrid-based firm picks PH for largest offshore wind project
June 2, 2023, 7:48 pm
MANILA – Madrid-based offshore wind developer BlueFloat Energy has chosen the Philippines to locate its largest wind energy project. In a press conference in Makati City on Friday, BlueFloat Chief Executive Officer Carlos Martin said its planned offshore wind energy capacity in the Philippines… Read More
PH stocks index, peso gain as US debt ceiling issue eases
June 2, 2023, 6:49 pm
MANILA - Passage of the Fiscal Responsibility Act in the US lifted sentiments in the local bourse and resulted to the positive close of all the counters as well as the strengthening of the peso to 55-level. The Philippine Stock Exchange index (PSEi) rose by 1.27 percent, or 81.43 points, to… Read More
BSP’s 28-day bill rate down, attracts lower bids
June 2, 2023, 3:42 pm
MANILA – Undersubscription was registered by the Bangko Sentral ng Pilipinas' (BSP) 28-day bill on Friday, and its rate slid relative to last week’s level. BSP raised the offer volume in this week’s 28-day debt paper auction to PHP140 billion, from the PHP120 billion during the auction last… Read More
DTI ready to monitor import surge with RCEP effectivity
June 2, 2023, 3:36 pm
MANILA – The Department of Trade and Industry (DTI) has established a mechanism that will monitor influx of imports into the country as the Regional Comprehensive Economic Partnership (RCEP) takes effect in the Philippines Friday (June 2, 2023). “At DTI, we have established an import… Read More
Maharlika bill contribution unlikely to affect BSP's stability
June 2, 2023, 1:34 pm
MANILA – The Bangko Sentral ng Pilipinas' (BSP) contribution to the Maharlika Investment Fund (MIF) will not threaten its financial stability, Finance Secretary Benjamin Diokno has said. "The contributions being asked from BSP for the first two years of the MIF, for a maximum of PHP50 billion,… Read More
BSP sets 56-day Bill offering as it enhances IRC framework
June 2, 2023, 11:45 am
MANILA – A 56-day Bill will be offered by the Bangko Sentral ng Pilipinas (BSP) starting June 30, 2023 as part of the central bank’s move to further improve monetary operations under the Interest Rate Corridor (IRC) framework. The new tenor will be offered together with the 28-day debt papers… Read More
5 Northern Samar towns receive grants for climate projects
June 2, 2023, 9:24 am
MANILA – Finance Secretary and People’s Survival Fund (PSF) board chairperson Benjamin Diokno signed Thursday the financing agreements for the PSF Project Development Grant (PDG) with local chief executives, granting up to PHP2 million each to five Northern Samar local government units (LGUs).… Read More
RCEP enters into force in PH
June 2, 2023, 8:00 am
MANILA – The Regional Comprehensive Economic Partnership (RCEP) has finally entered into force in the Philippines on Friday, over two years since participating countries concluded the free trade deal in November 2020. The Department of Trade and Industry (DTI), the country’s lead agency during… Read More
PBBM urged to certify bamboo industry bill ‘urgent’
June 1, 2023, 8:39 pm
MANILA – Bamboo industry stakeholders on Thursday appealed to President Ferdinand R. Marcos Jr. to certify as urgent the Senate version of the proposed “Philippine Bamboo Industry Development Act” following the passage of its counterpart, House Bill 7941, at the House of Representatives… Read More
BSP-supervised entities’ clients urged to register SIM numbers
June 1, 2023, 8:06 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is calling on BSP-supervised financial institutions (BSFIs) to remind their clients to register their subscriber identity module (SIM) numbers ahead of the extended July 25 deadline. In a statement on Thursday, the central bank said registered SIM… Read More
Stocks, peso slip on US debt ceiling talks
June 1, 2023, 7:45 pm
MANILA – The Philippine Stock Exchange index (PSEi) declined anew on Thursday ahead of United States lawmakers’ decision on the debt ceiling, a performance trailed by the local currency. The main equities index shed 0.72 percent, or 46.78 points, to 6,430.58 points. All Shares followed with a… Read More
DTI chief: Offshore wind projects drive FDIs in PH
June 1, 2023, 7:41 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual expects offshore wind energy projects to drive foreign direct investments (FDIs) in the country in the coming years. On the sidelines of the Energy China Offshore Wind Forum 2023 in Taguig City Thursday, Pascual said as… Read More
Sustained inflation slowdown to benefit bond, equities market
June 1, 2023, 6:59 pm
MANILA – The outlook for the domestic bond and equities market looks bright if the domestic inflation rate sustains its deceleration, executives of Manulife Investment Management (IM) and Trust Corp. Philippines said Thursday. In a commentary, Manulife IM Philippines head of fixed income Jean de… Read More
Energy firm eyes Japanese market expansion
June 1, 2023, 5:52 pm
MANILA – Integrated energy company Semirara Mining and Power Corp. (SMPC) is set to make its second trial shipment to Japan this June in a bid to reduce its dependency on the Chinese market. The company will export 50,000 metric tons (MT) of Semirara coal to Shikoku Electric Power Corp. for its… Read More
Study shows Filipinos’ cashless payments increasing
June 1, 2023, 5:48 pm
MANILA – Filipinos are becoming less reliant on cash amid the growth of cashless payments in the country, latest Visa’s Consumer Payment Attitudes Study in the Philippines indicated. In a media briefing in Makati City Thursday, Visa Country Manager for the Philippines and Guam Jeffrey Navarro… Read More
Retail price index in NCR eases in April
June 1, 2023, 2:46 pm
MANILA – The general retail price index (GRPI) in the National Capital Region (NCR) slowed to 5.4 percent in April. Data released by the Philippine Statistics Authority (PSA) showed that the retail price index in NCR was at 6 percent in March. "The primary driver of the slower year-on-year… Read More
PH manufacturing index improves in May
June 1, 2023, 1:41 pm
MANILA – The condition of the country’s manufacturing sector improved in May 2023 to 52.2 from an index of 51.4 in April, the S&P Global manufacturing purchasing managers’ index (PMI) reported Thursday. S&P Global said the stronger manufacturing score in May is driven by faster expansions in… Read More
