Business
Bangladesh, India to trade in local notes to cut dollar dominance
May 13, 2023, 6:24 pm
DHAKA, Bangladesh – Bangladesh and India decided to trade in their currencies, taka and rupee, respectively, to bypass the rising dollar, its dominance in trading, and to promote regional businesses, a Bangladesh Bank (BB) official told Anadolu. The two neighbors made the decision, as many… Read More
100 Cebu technopreneurs get online marketing course from DTI
May 12, 2023, 8:42 pm
CEBU CITY – Over 100 micro, small, and medium entrepreneurs in Cebu are now equipped with e-commerce strategies to boost their businesses using information technology through the Department of Trade and Industry (DTI). Rose Mae Quiñanola, provincial director of DTI-Cebu, said through its… Read More
IMF keeps 6% growth projection for PH after strong Q1 output
May 12, 2023, 7:54 pm
MANILA – The International Monetary Fund (IMF) is keeping its 6 percent growth projection for the Philippine economy this 2023 and sees robust output in 2024 despite the impact of elevated inflation and interest rates and challenging external developments. In a briefing on Friday, Shanaka Jay… Read More
BSP securities rate up
May 12, 2023, 7:02 pm
MANILA – The average rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities dipped on Friday on strong demand from investors. Data released by the central bank showed that rate of the debt paper went down to 6.7374 percent from the 6.7613 percent during the auction last May 5. BSP… Read More
Private sector crucial to roll out $32.8-B project in BIMP-EAGA
May 12, 2023, 6:32 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual on Friday called on public and private sectors to push for “soft connectivity” in the Brunei Darussalam-Indonesia-Malaysia-Philippines-East ASEAN Growth Area (BIMP-EAGA) to support the economy of the sub-region. At… Read More
DOF reconvenes task force on sustainable finance
May 12, 2023, 5:48 pm
MANILA – The Department of Finance (DOF) on Friday reconvened the Inter-Agency Task Force on Sustainable Finance (ITSF), also known as the Green Force, to discuss the implementation of the Sustainable Finance Roadmap and its Guiding Principles. In a statement, the DOF said the ITSF, which was… Read More
Ample ocean harvest helps ease price pressures in Palawan
May 12, 2023, 5:10 pm
PUERTO PRINCESA CITY – The Philippine Statistics Authority (PSA) in Palawan on Friday reported that headline inflation in the province slowed down to 6.9 percent in April, compared to its 9.0 percent surge the previous month. In a live-streamed press briefing, Maria Lalaine Rodriguez, PSA chief… Read More
PH economic growth target likely to be hit this year - economist
May 12, 2023, 11:51 am
MANILA – The government's 6 to 7 percent economic growth target will likely be met this year despite possible effects of El Niño, an economist said on Friday. Rizal Commercial Banking Corporation chief economist Michael Ricafort told the Philippine News Agency (PNA) that the 6 to 7 percent… Read More
EdgePoint tower now home to DITO's new cell site in Tanay
May 11, 2023, 8:23 pm
TANAY, Rizal – EdgePoint Philippines on Thursday said its first tower partnership with DITO Telecommunity is fully operational and is already serving the villages here. The company said the lone tower is potentially capable of covering the communications needs of the town’s entire population.… Read More
BPI revises upward 2023 GDP forecast for PH
May 11, 2023, 8:16 pm
MANILA – Ayala-led Bank of the Philippine Islands (BPI) has revised upward its growth projection for the Philippine economy this year to 6.3 percent from 5 to 6 percent previously, after noting the higher-than-expected expansion in the first quarter. The gross domestic product (GDP) rose by 6.4… Read More
PSEi slightly up on positive Q1 GDP report, peso ends sideways
May 11, 2023, 6:57 pm
MANILA – Better-than-expected expansion of the Philippine economy in the first quarter of 2023 lifted further the local bourse’s main index on Thursday but the peso ended sideways against the United States dollar. The Philippine Stock Exchange index (PSEi) rose slightly by 0.25 percent, or… Read More
DOE: Ilijan power plant on track to operate by May 26
May 11, 2023, 6:30 pm
MANILA – An official from the Department of Energy (DOE) has said the 1,200-megawatt (MW) Ilijan power plant is on track to operate this month to augment the supply amid increasing demand for electricity during the dry season. “We are happy that the Ilijan plant’s progress is on time and we… Read More
More job opportunities seen as economy bounces back
May 11, 2023, 5:49 pm
MANILA – The employers’ sector on Thursday expressed bullishness over the country’s 6.4 percent Gross Domestic Product (GDP) growth in the first quarter, saying this development heralds the opening up of more employment opportunities for Filipinos. In an interview, Sergio Ortiz-Luis Jr.,… Read More
PEZA approvals jump 107% to P33-B in Jan-April
May 11, 2023, 4:10 pm
MANILA – The Philippine Economic Zone Authority (PEZA) reported Thursday that its investment approvals in the first four months of the year jumped by 107.5 percent to PHP33.09 billion from PHP15.98 billion in the same period in 2022. In a statement, PEZA Director General Tereso Panga said these… Read More
Continued normalization of PH economy seen
May 11, 2023, 3:30 pm
MANILA – An economist on Thursday said the domestic economic growth of 6.4 percent in the first quarter of 2023 surpassed expectations and is in line with normalizing base effects. In a report, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said base effects played… Read More
RCEP, PSA to aid PH economic growth
May 11, 2023, 3:21 pm
MANILA – The Makati Business Club (MBC) is optimistic on the economic growth in the coming quarters as the government ratified the Regional Comprehensive Economic Partnership (RCEP) and released the new implementing rules and regulations (IRR) of the Public Service Act (PSA). “Two recent… Read More
PH economy expands 6.4% in Q1
May 11, 2023, 2:19 pm
MANILA – The Philippine economy expanded by 6.4 percent in the first quarter of the year, settling within the government's 6 to 7 percent target. In a briefing on Thursday, Philippine Statistics Authority Undersecretary and National Statistician Dennis Mapa said the growth during the quarter,… Read More
BSP term deposit facility rates post mixed results
May 10, 2023, 8:31 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) moved to separate directions on Wednesday and both the seven- and 14-day facilities were undersubscribed despite lower offer volume. The average rate of the seven-day TDF went down to 6.5882 percent from… Read More
Batangas coops to get funding via DA's I-REAP program
May 10, 2023, 8:29 pm
BATANGAS CITY – The Provincial Cooperative, Livelihood and Entrepreneurial Development Office (PCLEDO) on Wednesday said qualified cooperatives can expect to receive government funding under the Investments in Rural Enterprise and Agriculture and Fisheries Productivity (I-REAP) program before… Read More
BIR hits January-April collection target
May 10, 2023, 8:01 pm
MANILA – The Bureau of Internal Revenue (BIR) achieved its collection goal for January to April this year. In a statement on Wednesday, BIR Commissioner Romeo Lumagui Jr. said BIR "recorded a historic feat” in reaching the collection goal for the first four months of the year. While the exact… Read More
