Business
Midyear treat: Price cut for LPG, auto LPG effective June
June 1, 2023, 9:37 am
MANILA – Prices of liquefied petroleum gas (LPG) go down by at least PHP6 per kilogram this month. Petron said it reduced LPG prices by PHP6.20 per kilogram; Solane-branded LPG, down by PHP6.18 per kg; and Phoenix Super LPG, lower by PHP6.10 per kg. The price adjustments should translate to… Read More
DTI: Samsung unit exceeds $25-B investments in PH
May 31, 2023, 8:52 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said on Wednesday investments of Samsung Electro-Mechanics Philippines Corporation (SEMPHIL) in the country has surpassed USD25 billion. In his message during the ribbon-cutting ceremony of SEMPHIL complex building in… Read More
Peso strengthens, PSEi slips on month-end window dressing
May 31, 2023, 7:09 pm
MANILA – End-of-the-month window dressing and the impact of the latest Morgan Stanley Capital International (MSCI) rebalancing resulted in the negative close of the local bourse’s main index but the peso strengthened to the US dollar on Wednesday. After rising the previous day, the Philippine… Read More
TDF rates slip, 14-day facility posts undersubscription
May 31, 2023, 6:31 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) declined on Wednesday amidst the slight undersubscription for the 14-day tenor. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the average rate of the one-week facility slipped to… Read More
Filipino Gen Zs favor firms with hybrid work schemes
May 31, 2023, 6:28 pm
MANILA – A study by Universum, a global thought leader in employer branding, shows that young Filipino talents would like to work in companies that offer hybrid work arrangement. In its Universum Talent Survey 2023, which polled 5,000 students from 103 universities from November 2022 to March… Read More
NEDA chief: Maharlika fund unlikely to increase debt
May 31, 2023, 6:08 pm
MANILA – The Maharlika Investment Fund (MIF) is not expected to raise the national debt, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Wednesday. "I don't think (debt will spike). The (capitalization is) just small, PHP500 billion, that's not really...… Read More
Investment management firm eyes PH GDP at 5.35% this year
May 31, 2023, 6:04 pm
MANILA – Sun Life Investment Management and Trust Corporation (SLIMTC) forecasts the growth of the Philippine economy to remain robust expanding by 5.35 percent this year amid the base effects and external headwinds. In a virtual briefing on Wednesday, SLIMTC president and chief investment… Read More
World Bank approves $176-M fishery resiliency project
May 31, 2023, 5:24 pm
MANILA – The World Bank on Wednesday approved a USD176 million fisheries and coastal resiliency project. In a statement, the World Bank said the Philippine Fisheries and Coastal Resiliency Project (FISHCORE) seeks to improve fisheries management, enhance the value of fisheries production, and… Read More
SEC urges 8K 'erring' corporations in Bicol to avail amnesty
May 31, 2023, 5:07 pm
LEGAZPI CITY – The Securities and Exchange Commission-Bicol (SEC-5) is reminding over 8,000 non-compliant, revoked and suspended corporations and associations in the region to avail and take advantage of the extended period of penalty amnesty. Arlyn Joy Alarcon, SEC-5 information officer, said… Read More
BSP eyes May inflation at 5.8% to 6.6%
May 31, 2023, 2:33 pm
MANILA – Upticks in the prices of rice, vegetables and several other key food items are projected to drive the country’s inflation rate for May 2023 to between 5.8 percent to 6.6 percent. In a statement on Wednesday, the Bangko Sentral ng Pilipinas (BSP) said the rise in the prices of… Read More
SEIPI maintains 5% growth target despite lower Q1 exports
May 30, 2023, 7:57 pm
MANILA – The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) is maintaining its 5 percent growth target for this year despite the slowdown in the industry’s export revenues in the first quarter of the year. SEIPI president Dan Lachica said the sector’s… Read More
PH stocks, peso slip on hawkish signal from Fed execs
May 30, 2023, 7:15 pm
MANILA – Hawkish signals from Federal Reserve officials resulted in the negative close of all the counters in the local bourse and the peso on Tuesday. After starting the week up, the Philippine Stock Exchange index (PSEi) shed 1.25 percent, or 82.49 points, to 6,510.67 points. All Shares… Read More
DOF chief: Gov't to improve VAT collection efficiency
May 30, 2023, 7:11 pm
MANILA – The government is working with the International Monetary Fund (IMF) for the conduct of a study aimed at addressing the low value-added tax (VAT) efficiency in the country. “We actually talked with the IMF and we asked them to conduct a study on where we can improve on broadening the… Read More
Gov’t saves P205-M in energy efficiency, conservation
May 30, 2023, 5:29 pm
MANILA – The Department of Energy (DOE) reported on Tuesday that the government has saved PHP205 million by implementing energy efficiency and conservation (EEC) initiatives as of the end of March. In a statement, the DOE said this is equivalent to 20 million kilowatt-hours (kWh) of electricity… Read More
BTr fully awards T-bonds
May 30, 2023, 5:24 pm
MANILA – The Bureau of Treasury (BTr) on Tuesday fully awarded the reissued 10-year Treasury bonds (T-bonds). The reissued bonds, which have a remaining term of nine years and three months, fetched an average rate of 5.958 percent which is below the secondary market benchmark. Total tenders… Read More
GCG seeks amendments to GOCC Act
May 30, 2023, 3:25 pm
MANILA – The Governance Commission for Government-Owned or -Controlled Corporations (GCG) is pushing for the amendments to Republic Act No. 10149 or the GOCC Governance Act of 2011. “In order to efficiently operate as a regulatory body for the GOCC sector, RA 10149 is proposed to be amended to… Read More
RCEP to link Filipino MSMEs into global value chain
May 30, 2023, 3:03 pm
MANILA – As the Regional Comprehensive Economic Partnership (RCEP) will enter into force in the Philippines on June 2, financial technology firm First Circle said the free trade agreement (FTA) will allow Filipino micro, small and medium enterprises (MSMEs) to be integrated in the global value… Read More
Domestic trade up in first quarter of 2023
May 30, 2023, 9:50 am
MANILA – The volume and value of local trade posted double-digit growth in the first quarter of the year, the Philippine Statistics Authority (PSA) reported. Data released late Monday showed that the value of domestic trade amounted to PHP199.72 billion, up by 46.7 percent from the PHP136.18… Read More
ARTA to issue joint circular prioritizing infra flagship projects
May 29, 2023, 8:46 pm
MANILA – Anti-Red Tape Authority (ARTA) Director General Ernesto Perez said the agency, along with the National Economic and Development Authority (NEDA) and the Department of Information and Communications Technology (DICT), will issue a joint memorandum circular (JMC) to expedite and… Read More
PH equities index up on US debt ceiling talks, peso slips
May 29, 2023, 8:33 pm
MANILA – Optimism that a United States government’s debt ceiling deal will eventually materialize this week boosted sentiments in the local bourse and allowed the main index to rise but the peso weakened. The Philippine Stock Exchange index (PSEi) started the week up by 0.96 percent, or 62.96… Read More
