Business
Stocks index up anew, peso ends sideways
May 10, 2023, 7:58 pm
MANILA – The local equities market’s main index rose anew on Wednesday as investors continue to digest positive earnings reports of listed firms for the first quarter of the year while the peso ended the day sideways against the United States dollar. The Philippine Stock Exchange index (PSEi)… Read More
DOE awards 610MW floating solar projects in Laguna Lake
May 10, 2023, 7:51 pm
MANILA – The Department of Energy (DOE) on Wednesday gave the green light to six large-scale floating solar projects with a total capacity of 610.5 megawatts (MW). In a statement, DOE said it awarded the Solar Energy Operating Contracts (SOEC) to SunAsia Energy, Inc. and its partner Blueleaf… Read More
Economist sees sustained rise in FDIs to PH
May 10, 2023, 6:38 pm
MANILA – Foreign direct investments (FDIs) to the Philippines is expected to further rise with the reopening of the economy and investment commitments secured from various trips overseas of President Ferdinand R. Marcos Jr., according to an economist. Data released by the Bangko Sentral ng… Read More
ECOP: P150 pay hike to widen gap of formal, informal sectors
May 10, 2023, 5:24 pm
MANILA – The Employers Confederation of the Philippines (ECOP) said the proposed PHP150 legislated daily pay increase will only widen the wage gap between the formal and informal sectors. During the Laging Handa public briefing Wednesday, ECOP president Sergio Ortiz-Luis said only 16 percent of… Read More
Central Luzon inflation continues to slow down at 7.3% in April
May 10, 2023, 4:35 pm
CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon continued to slow down to 7.3 percent in April, based on the latest report of the Philippine Statistics Authority-Regional Statistical Services Office in the region (PSA-RSSO III). The latest figure is lower by 1.1 percentage… Read More
DTI ramps up efforts to increase exports
May 10, 2023, 4:29 pm
MANILA – The Department of Trade and Industry (DTI) will focus on investment promotion and strategic activities as part of the government's efforts to increase the country's exports. In a Viber message on Wednesday, Trade Secretary Alfredo Pascual said the country's export performance remains to… Read More
PPA remits P4.4-B dividends to national gov’t in 2022
May 10, 2023, 3:48 pm
MANILA – The Philippine Ports Authority (PPA) remitted PHP4.44 billion in dividends to the national government in the past year, a 9 percent increase from the previous year. In a statement on Wednesday, PPA General Manager Jay Santiago said the remittance, part of its responsibility as a… Read More
PH agriculture grows 2.1% in Q1
May 10, 2023, 2:43 pm
MANILA – The total value of production in agriculture and fisheries sector grew by 2.1 percent in the first quarter of the year, the Philippine Statistics Authority (PSA) reported on Wednesday. The PSA said at constant 2018 prices, the value of production amounted to PHP428.69 billion, up from… Read More
Stocks up, peso slips vs. dollar ahead of Q1 GDP data
May 9, 2023, 8:04 pm
MANILA – The local bourse’s main index sustained its rally on Tuesday ahead of the release of the first-quarter gross domestic product (GDP) data later in the week but the peso depreciated against the US dollar. The Philippine Stock Exchange index (PSEi) increased by 0.33 percent, or 21.87… Read More
PH records $4.9 billion trade gap in March
May 9, 2023, 7:32 pm
MANILA – The trade deficit in the country increased to USD4.93 billion in March, as imports outpaced exports, the Philippine Statistics Authority (PSA) said. In a report released on Tuesday, the PSA said the trade deficit during the month was higher by 7.5 percent than the USD4.5 billion… Read More
NGCP to face further audits
May 9, 2023, 7:01 pm
MANILA – The Department of Energy (DOE) said the National Grid Corporation of the Philippines (NGCP) will be subjected to further audits to establish the weak links and issues in the transmission system in order to address the problems. In a press briefing on Tuesday, Energy Secretary Raphael… Read More
BTr fully awards 10-year reissued T-bonds
May 9, 2023, 6:57 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the reissued 10-year Treasury bonds (T-bonds). With nine years and four months to maturity, the security fetched an average rate of 5.732 percent, lower than the previous auction rate of 6.142 percent when it was reissued in… Read More
Remittances, improved labor sector seen boosting GDP in Q1
May 9, 2023, 5:49 pm
MANILA – The continued improvement of the labor sector, resilient overseas Filipino workers (OFWs) remittances, and government’s fiscal spending priorities are expected to boost the projected economic growth in the first quarter of the year, according to an economist. In a reply to questions… Read More
PH manufacturing grows in March
May 9, 2023, 3:24 pm
MANILA – Factory output, both in volume and value, continued to grow in March this year, the Philippine Statistics Authority (PSA) said Tuesday. The growth, however, was slower than the expansion in March last year and in February this year. The Value of Production Index (VaPi) grew by 4.9… Read More
GCash down, assures customers funds 'safe, secure'
May 9, 2023, 12:07 pm
MANILA – Digital payment app GCash on Tuesday assured its customers that funds are "safe and secure" following a temporary downtime. In a statement, GCash said any deduction from accounts will be adjusted before 3 p.m. "We extended our scheduled maintenance to investigate and determined that no… Read More
Raising interest rates vs. inflation endangers global economy
May 8, 2023, 8:53 pm
ANKARA – The policy of many countries to raise interest rates to combat inflation could result in a recession or a slowdown in economic growth, according to Charles Yuji Horioka, professor of economics at Kobe University in Japan, on Monday. In an exclusive interview with Anadolu, Horioka said… Read More
Further rise in bank lending seen as inflation decelerates
May 8, 2023, 8:01 pm
MANILA – Growth of loans extended by universal and commercial banks (U/KBs) is expected to improve in the coming months on projections for slowdown in domestic inflation rate. Data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed that bank lending expanded by 10.1 percent in… Read More
PSEi slips, peso nearly flat vs. dollar ahead of GDP data
May 8, 2023, 7:54 pm
MANILA – Profit-taking resulted in the negative close of the Philippine Stock Exchange index (PSEi) on Monday but the peso finished the day sideways against the United States dollar. The local stock barometer shed 1.27 percent, or 84.92 points, to 6,600.74 points. All the other counters tracked… Read More
BSP chief: Decision on Landbank-DBP merger must be implemented
May 8, 2023, 6:59 pm
MANILA – The planned merger of government-owned Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) will push through, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said. "The decision has been made. It must be implemented," he said in a reply to… Read More
BTr partially awards 91-day, 182-day T-bills
May 8, 2023, 5:12 pm
MANILA – The Bureau of Treasury (BTr) partially awarded on Monday the 91-day and 182-day Treasury bills (T-bills). "Results were mixed in today's Treasury bill auction as the auction committee decided to fully award bids for the 364-day T-bills while partially awarding the 91-day and 182-day… Read More
