Business
PH stocks index, peso slip
May 25, 2023, 7:07 pm
MANILA – Appetite in the local bourse was low resulting in the negative close of all counters on Thursday as the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.84 percent, or 55.73 points, to 6,560.22 points. All Shares followed with a decline of 0.81… Read More
NCMB ‘making progress’ in resolving Wyeth labor dispute
May 25, 2023, 6:50 pm
CALAMBA, Laguna – The National Conciliation and Mediation Board (NCMB) on Thursday reported that inroads have been made in trying to resolve the simmering labor dispute at Wyeth Nutrition Philippines, whose factory is located in Barangay Canlubang in this city. In an interview, Ericson Igual,… Read More
EU biz groups list 11 priority sectors seen to attract more FDIs
May 25, 2023, 6:48 pm
MANILA – The European Chamber of Commerce of the Philippines (ECCP) and the European Union-ASEAN Business Council (EU-ABC) have turned over to the Philippine government advocacy papers on 11 priority sectors eyed to help attract more foreign investments. During the 10th European-Philippine… Read More
BSP, BDO Foundation team up for interactive e-learning course
May 25, 2023, 5:37 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) and BDO Foundation have partnered to develop a nine-module interactive financial education (FinEd) online course, eyed to be available on mobile devices in early 2024. The BSP said Thursday it has signed a memorandum of agreement (MOA) with BDO… Read More
Exec reiterates ECOP stance against legislated wage hike
May 25, 2023, 5:32 pm
MANILA – The Employers’ Confederation of the Philippines (ECOP) on Thursday clarified that it is not opposed to the idea of granting wage hikes, but rather, it is against salary adjustments that were not approved by Regional Tripartite Wages and Productivity Boards (RTWPBs). In an interview,… Read More
Aboitiz to spend P800-M for Cebu Estate expansion
May 25, 2023, 4:02 pm
BALAMBAN, CEBU – Aboitiz InfraCapital Economic Estates will spend roughly PHP800 million this year for the expansion of its West Cebu Estate (WCE). "Currently, we have a 39-hectare industrial expansion. Construction is ongoing. This year, we've earmarked about PHP800 million to develop this,"… Read More
DTI welcomes institutionalization of SSF Program
May 25, 2023, 2:23 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has welcomed the Senate's approval of institutionalizing the agency's Shared Service Facility (SSF) Program. In a statement Thursday, Pascual said approval of Senate Bill No. 2021, which aims to amend Republic Act … Read More
Diokno welcomes urgent certification of Maharlika Fund bill
May 25, 2023, 12:57 pm
MANILA – Finance Secretary Benjamin Diokno welcomed President Ferdinand R. Marcos Jr.'s move to certify as urgent Senate Bill 2020 that seeks to create the Maharlika Investment Fund."We welcome the certification of urgency of the Maharlika Investment Fund bill," Diokno told reporters in a Viber… Read More
TDF rates down, BSP partially awards 7-day facility
May 24, 2023, 7:56 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) fell on Wednesday and undersubscription was registered by the one-week facility. Data released by the central bank showed that the average rate of the seven-day TDF fell to 6.5926 percent from 6.5962… Read More
PH, China to deepen cooperation on agriculture
May 24, 2023, 6:56 pm
MANILA – The Philippines and China are set to open discussion son how to further enhance agricultural cooperation between the two countries. "In terms of agricultural cooperation, there are high-level officials from the Ministry of Agriculture and Rural Affairs (MARA) who will visit the… Read More
PSEi up, peso almost flat as WB vows support for PH dev’t agenda
May 24, 2023, 6:56 pm
MANILA – The local bourse’s main index regained its footing on Wednesday following a statement from the World Bank (WB) of its support for the continued economic expansion and a poverty-free Philippines by 2040, while the peso ended sideways against the United States dollar. After a two-day… Read More
PH, UK seek enhanced economic ties via new joint action plan
May 24, 2023, 5:12 pm
MANILA – The Philippines and the United Kingdom have reaffirmed their commitment to bolster economic ties by developing a blueprint to boost trade and investment. The Department of Trade and Industry (DTI) and the British Embassy, in a joint statement on Wednesday, said they will develop a… Read More
Ortiz assumes presidency of Landbank
May 24, 2023, 4:58 pm
MANILA – Seasoned banker Lynette Ortiz was sworn in on Wednesday as the new president and chief executive officer of the Land Bank of the Philippines after her recent appointment by President Ferdinand R. Marcos Jr. In a statement, Landbank said Ortiz took her oath as the 11th president and CEO… Read More
Stocks fall, peso strengthens ahead of US debt talks
May 23, 2023, 8:39 pm
MANILA – The local bourse’s main index fell Tuesday as investors await updates on the United States’ debt ceiling talks while the peso corrected after Fitch Ratings changed its outlook on the Philippines’ investment grade rating from negative to stable. The Philippine Stock Exchange index… Read More
Higher economic growth seen in 2nd half of 2023
May 23, 2023, 8:09 pm
MANILA – Increased infrastructure investments, sustained tourism-related revenge spending and projected further slowdown of inflation rate are expected to boost domestic economic growth in the second half of 2023, with the full-year output seen above 6 percent. According to the May 2023 issue… Read More
Windmills boost Oriental Mindoro’s power amid shortage
May 23, 2023, 8:02 pm
CALAPAN CITY, Oriental Mindoro – Residents of this province enjoyed the whole day of Tuesday without having to endure power interruption, according to the Oriental Mindoro Electric Cooperative, Inc. (ORMECO). A representative of ORMECO told the Philippine News Agency (PNA) that the day-long… Read More
Strong economic activities stabilize PH growth: Pangandaman
May 23, 2023, 6:52 pm Updated on May 23, 2023, 6:53 pm
MANILA – The continued implementation of "strong" economic activities has helped sustain the Philippines' growth momentum, Budget Secretary Amenah Pangandaman said on Tuesday. Pangandaman, one of the country's economic managers, issued the statement after debt watcher Fitch Ratings upgraded the… Read More
PH to host APEC biz advisory group meet in July
May 23, 2023, 6:13 pm
MANILA – The Philippines will host the third leg of Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) meetings from July 27 to 30, which will be attended by business executives from the 21 member economies. In a statement Tuesday, ABAC Philippines chair Tomas Alcantara… Read More
BTr fully awards T-bonds
May 23, 2023, 5:40 pm
MANILA – The Bureau of Treasury (BTr) on Tuesday fully awarded the reissued seven-year Treasury bonds (T-bonds). The BTr offered the debt paper for PHP25 billion and bids reached PHP30.6 billion. With its decision, the BTr raised the full program of PHP25 billion, bringing the total… Read More
Medalla says BSP ready vs. PH's financial market challenges
May 23, 2023, 9:51 am
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla reiterated the central bank’s readiness to utilize its toolkit to address challenges that will have an impact on the domestic financial market. In a statement Monday night, he said “the central bank’s exceptional and timely… Read More
