Business
Stocks up, peso ends sideways after fresh Fed rate hike
May 4, 2023, 8:18 pm
MANILA – All counters in the local bourse ended Thursday with gains despite another hike in the Federal Reserve’s key rates while the peso closed sideways against the greenback. The Philippine Stock Exchange index (PSEi) index inched up by 1.12 percent, or 74.08 points, to 6,680.77 points. All… Read More
Aboitiz launches cold storage project for farmers in N. Vizcaya
May 4, 2023, 6:58 pm
MANILA – The Aboitiz Group has launched its second pilot cold storage unit in a bid to reduce food wastage and enhance the food supply chain in the country. In a disclosure to the Philippine Stock Exchange on Thursday, Aboitiz said the cold storage unit, which is located in Nueva Vizcaya… Read More
DTI chief bats for inclusion of garments, shoes in US GSP
May 4, 2023, 6:53 pm
MANILA – While President Ferdinand R. Marcos Jr. called for the renewal of the United States Generalized System of Preference (US GSP) in a meeting with business executives in Washington D.C., the country’s top trade official has reiterated the request of the Philippines to include garments… Read More
Economist sees inflation easing to 7% in April
May 4, 2023, 6:42 pm
MANILA – Headline inflation likely slowed to 7 percent in April as some food prices started moderating, according to an economist. "Some food prices already started to ease recently on better weather conditions that led to some increase in supply that helps in lowering food prices, after some… Read More
Bizmen say forecasts of lower April inflation ‘realistic’
May 4, 2023, 6:28 pm
MANILA – Key industry leaders on Thursday said forecasts indicating that April’s inflation figure will dip down to as low as 5.2 percent, according to some private sector economists, is consistent with what they are presently witnessing on the ground. The Bangko Sentral ng Pilipinas (BSP),… Read More
Village-based biz training program starts in Pampanga
May 4, 2023, 5:08 pm
CITY OF SAN FERNANDO, Pampanga – The city government here has rolled out a barangay-based entrepreneurship training program that could help budding traders start and improve their businesses. Dubbed "Fernandino KayaBIZ Program,” the undertaking is a new flagship project of the City of San… Read More
BSP’s term deposit facility rates up
May 3, 2023, 7:36 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose on Wednesday and undersubscription was registered for both the seven- and 14-day tenors. BSP data show that the average rate of the seven-day facility increased to 6.5952 percent from 6.5898 percent… Read More
Consumer spending seen to settle at 5.5% this year
May 3, 2023, 7:26 pm
MANILA – The BMI, a unit of Fitch Solutions, has projected that the Philippines’ household spending this year would settle at 5.5 percent as consumer confidence continues to recover since its all-time low in the second quarter of 2022, the height of the pandemic. The research group said the… Read More
Stocks slip ahead of Fed decision, peso ends sideways
May 3, 2023, 7:14 pm
MANILA – Local shares ended Wednesday in the negative territory ahead of the Federal Reserve’s rate decision announcement, but the peso kept its footing against the United States dollar. The Philippine Stock Exchange index (PSEi) shed 0.99 percent, or 66 points, to 6,606.69 points. Most of the… Read More
BTr fully awards re-issued T-bond
May 3, 2023, 5:49 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded on Wednesday the re-issued 10-year Treasury bond. Total tenders reached PHP61.8 billion, 2.5 times the PHP25 billion offer. The BTr raised the full program of PHP25 billion, bringing the total outstanding volume for the series to PHP295… Read More
BCDA remits P527-M to nat'l gov't
May 3, 2023, 3:49 pm
MANILA – The Bases Conversion and Development Authority (BCDA) reported Wednesday it remitted PHP527.4 million to the national government for this year. In a statement, BCDA said this remittance is on top of its proceeds allocated for the Armed Forces of the Philippines (AFP) Modernization… Read More
Producer prices ease in March
May 3, 2023, 3:18 pm
MANILA – Producer prices in the manufacturing sector continued to ease in March this year, mainly driven by the lower prices of coke (solid fuel) and refined petroleum products, the Philippine Statistics Authority (PSA) said. PSA data released on Wednesday showed that the producer price index… Read More
Dyson's P11-B software, R&D center in PH to open in 2024
May 3, 2023, 2:07 pm
MANILA – Global technology firm Dyson announced on Wednesday that its software laboratory and research and development (R&D) center in the Philippines will start its operation by first half of next year. In a statement, Dyson said its software and R&D hub inside the First Philippine Industrial… Read More
Moody's Analytics eyes April inflation at 7.3%
May 3, 2023, 2:04 pm
MANILA – Domestic inflation rate for April 2023 is expected to remain above-target at 7.3 percent, and an economist of Moody’s Analytics said this will continue to be a challenge for the Bangko Sentral ng Pilipinas (BSP). The forecast is lower than the 7.6 percent inflation print last March… Read More
US faces cash crisis, Treasury Secretary Yellen warns
May 2, 2023, 8:56 pm
ISTANBUL – United States Treasury Secretary Janet Yellen has warned President Joe Biden to raise or suspend the debt limit to prevent a possible cash crisis in the country. The US Treasury will be unable to continue to "satisfy all of the government’s obligations by early June," Yellen said in… Read More
Stocks up on earnings reports; peso ends sideways
May 2, 2023, 8:10 pm
MANILA – The local stock market posted gains during the first trading of the month while local currency finished sideways. The Philippine Stock Exchange index (PSEi) closed Tuesday increasing by 47.61 points or 0.72 percent to 6,672.69. All shares also improved by 14.16 points, or 0.40 percent,… Read More
PH urged to develop talents for wind power sector
May 2, 2023, 5:24 pm
MANILA – With the growing interest of foreign companies to invest in the Philippines’ wind energy sector, Danish Ambassador to the Philippines Franz-Michael Mellbin has urged the Department of Energy (DOE) to develop policy that will ensure the availability of Filipino talents in this sector.… Read More
Coal mining firm remits P16B in royalties to gov’t
May 2, 2023, 4:05 pm
MANILA – Semirara Mining and Power Corp. (SMPC) chairman Isidro Consunji said the listed company’s remittance to the government as royalties in 2022 surged by 151 percent to nearly PHP16 billion. During SMPC’s virtual annual stockholders’ meeting Tuesday, Consunji said the firm posted its… Read More
Financial Products and Services Consumer Protection Act IRR out
May 1, 2023, 8:19 pm
MANILA – Consumers of financial products and services now have greater protection following the issuance of the implementing rules and regulations (IRR) of Republic Act (RA) 11765, otherwise known as the Financial Products and Services Consumer Protection Act (FCPA). This, following the… Read More
PH biz leaders see PBBM US visit heralding fresh investments
May 1, 2023, 7:20 pm
MANILA – The local business community on Monday expressed hope that President Ferdinand Marcos Jr.’s five-day official visit to Washington would yield more than just closer defense ties, but would open up fresh investment opportunities between the age-old allies. In an interview, Jesus… Read More
