Business
BSP chief cites importance of interest rate differential with US
May 19, 2023, 7:53 pm
MANILA – Ensuring adequate interest rate differential between the Philippines and the US will help put market uncertainties at bay, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said. In an interview over CNBC on Friday, Medalla said the current 1.25 percent difference between the… Read More
Medalla cites need for RRR cut
May 19, 2023, 5:52 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said the need to reduce bank’s reserve requirement aims to address possible rate tightening effects once the period of the relief measure that was given to banks ends. He is referring to the measure implemented during the… Read More
Infra spending to exceed gov't target: economist
May 19, 2023, 3:46 pm
MANILA – Infrastructure spending is expected to exceed the government's target this year, driven by the government's “Build, Better, More” development program. Infrastructure spending would likely expand by 10 to 20 percent this year, according to Rizal Commercial Banking Corporation chief… Read More
DTI opens Metro Fiesta de Mayo Trade Fair to help MSMEs
May 18, 2023, 8:54 pm
SAN JUAN CITY – The Department of Trade and Industry’s (DTI) National Capital Region (NCR) Office on Thursday opened a four-day trade fair in this city aimed at giving proprietors of micro, small and medium enterprises (MSMEs) a launch platform for their businesses. Tagged “Metro Fiesta de… Read More
RRR cut seen by June '23
May 18, 2023, 8:19 pm
MANILA – Economists are now looking at the possible reduction in banks’ reserve requirement ratio (RRR) as early as June this year after the Bangko Sentral ng Pilipinas (BSP) kept its key rates steady on Thursday. BSP policy-making Monetary Board (MB) maintained the central bank’s key rates… Read More
BIR steps up efforts to combat illicit tobacco trade
May 18, 2023, 8:08 pm
MANILA – The Bureau of Internal Revenue (BIR) said it will ramp up measures to crack down on illicit tobacco trade in the country. BIR Commissioner Romeo Lumagui Jr. on the sidelines of the Global Anti-Illicit Trade Summit on Thursday said that tobacco products are considered a major category of… Read More
PH stocks index ends in the red as peso recovers
May 18, 2023, 7:19 pm
MANILA – The local bourse’s main index reversed its course and fell on Thursday ahead of the Bangko Sentral ng Pilipinas’ (BSP) rate decision announcement but the peso gained to a greenback due to correction. After a two-day rally, the Philippine Stock Exchange index (PSEi) shed 0.10… Read More
BSP pauses on rate hiking cycle, cites inflation deceleration
May 18, 2023, 7:11 pm
MANILA – After hiking key rates for nine consecutive rate setting meetings since May 2022, Philippine monetary authorities on Thursday maintained the Bangko Sentral ng Pilpinas’ (BSP) policy rates due mainly to deceleration of inflation rate. Thus, the overnight reverse repurchase (RRP) rate… Read More
Medalla calls on e-wallet account holders to be vigilant
May 17, 2023, 9:48 pm
MACTAN, Cebu – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla on Wednesday said digital banking in the country is secured but cited the need for account holders to be vigilant against criminals. Citing the recent issue involving digital money service provider GCash, wherein around… Read More
NEDA develops dashboard for flagship projects’ implementation
May 17, 2023, 9:35 pm Updated on May 17, 2023, 9:39 pm
MANILA – The National Economic and Development Authority (NEDA) is currently developing a public dashboard for infrastructure flagship projects (IFPs) to enhance transparency and accountability among implementing agencies. In a statement on Wednesday, NEDA said the dashboard aims to help… Read More
TDF rates move to different ways
May 17, 2023, 9:09 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) ended mixed on Wednesday ahead of the rate setting meet of the central bank’s policy-making Monetary Board (MB) on Thursday. Average rate of the seven-day facility inched up to 6.5962 percent from the… Read More
PH stocks index up anew but peso slides vs. US dollar
May 17, 2023, 9:04 pm
MANILA – The local bourse’s main index gained anew on Wednesday ahead of the policy rate decision of the Bangko Sentral ng Pilipinas (BSP) but the peso depreciated against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.70 percent, or 46.21 points, to 6,635.11 points. All… Read More
Authorities preparing recommendations on crypto regulations
May 17, 2023, 8:00 pm
MACTAN, Cebu – High level recommendations on the regulation of crypto currencies are set to be submitted during the G20 meeting in July which Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said is necessary to address, among others, cross border movements of funds. In a briefing… Read More
Chicken producers call for importation, smuggling halt amid glut
May 17, 2023, 7:46 pm
MONTALBAN, Rizal – Local producers of chicken meat and eggs are appealing to the Department of Agriculture (DA) to take immediate steps to curb the importation and outright smuggling of both commodities due to a prevailing supply glut. In an interview on Wednesday, Gregorio San Diego, chairman… Read More
48 C. Luzon MSMEs to undergo DTI online mentoring program
May 17, 2023, 7:41 pm
CITY OF SAN FERNANDO, Pampanga – Forty-eight entrepreneurs from the different business sectors in the region will undergo an online mentoring program of the Department of Trade and Industry (DTI) that could boost their capacities. The 48 entrepreneurs comprise the first batch of this year’s… Read More
Prices of building materials in NCR down in April
May 17, 2023, 3:00 pm
MANILA – The wholesale and retail price index of construction materials in the National Capital Region (NCR) eased in April compared to the previous month. Data released by the Philippine Statistics Authority (PSA) on Wednesday showed that the wholesale price index of construction materials was… Read More
Moderna’s Manila office to open Sept. ‘23
May 17, 2023, 2:48 pm
MANILA – US-based pharmaceutical firm Moderna will open its shared service facility (SSF) and commercial office in Manila in September this year, its executive said Wednesday. In a virtual briefing with trade reporters, Moderna senior vice president and general manager Patrick Bergstedt said the… Read More
DMCI Holdings sees company growth softening in 2023
May 17, 2023, 1:30 pm
MANILA – Diversified conglomerate DMCI Holdings Inc. sees "muted" growth this year, citing several challenges that might affect its business portfolio. "As we look ahead to 2023, we expect a blend of challenges for our business portfolio because of moderate global economic recovery, persisting… Read More
Ayala unit keen to bid for UP-PGH Cancer Center
May 17, 2023, 8:36 am
CITY OF SAN JOSE DEL MONTE, Bulacan – AC Health, Ayala Corp.’s health care unit, is interested to participate in the Marcos administration’s first public-private partnership (PPP) project, the PHP6 billion University of the Philippines’ Philippine General Hospital (UP-PGH) Cancer Center.… Read More
Bamboo offers business opportunities to oil spill-affected towns
May 16, 2023, 8:26 pm
NAUJAN, Oriental Mindoro – A private-sector think tank for the agriculture sector has lauded various agencies’ efforts to introduce bamboo farming as a supplementary livelihood for communities affected by a recent oil spill in this province. In an interview on Tuesday, Flor Tesoro, president… Read More
