Business
BTr partially awards T-bills at higher rates
April 17, 2023, 8:38 pm
MANILA – The rates of Treasury bills (T-bills) rose on Monday and the Bureau of the Treasury (BTr) made partial award across the board despite oversubscription. The average rate of the 91-day paper rose to 5.550 percent, the 182-day’s to 5.812 percent and the 364-day’s to 6.073 percent.… Read More
Oil up ahead of expected data showing economic rebound in China
April 17, 2023, 7:52 pm
ANKARA – Oil prices rebounded slightly on Monday in anticipation of the release of positive Chinese economic data, but negative comments from United States Federal Reserve (Fed) officials weighed on prices. International benchmark Brent crude traded at $86.35 per barrel at 10:01 a.m. local time… Read More
PH stocks up ahead of US economic data release; peso weakens
April 17, 2023, 7:49 pm
MANILA – The local bourse’s main index closed the week’s first trading up ahead of the release of some economic data from the United States while the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) gained 0.37 percent, or 23.71 points, to 6.505.62 points. All… Read More
Economist still positive on remittance inflows to PH
April 17, 2023, 7:26 pm
MANILA – An economist remains optimistic about the path of overseas Filipino workers’ (OFWs) remittances amidst the elevated inflation rate and concerns about the possible United States recession. Data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed a 2.4 percent… Read More
Gasoline, kerosene prices up; diesel down
April 17, 2023, 6:40 pm
MANILA – Oil companies will implement price adjustments starting 12:01 a.m. Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil and Shell said they will increase prices of gasoline by PHP0.30 per liter while diesel prices will decline by PHP0.40 per liter. Caltex,… Read More
Czechia urged to explore more biz opportunities in PH
April 17, 2023, 4:56 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has urged businesses from the Czechia Republic to look into more opportunities in the country. At the Czech Industry forum in Makati City Monday, PCCI president George Barcelon said economic ties between the Philippines and Czechia… Read More
BSP's 28-day Bill rate declines
April 15, 2023, 10:53 am
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day Bill slipped on Friday amid strong demand. The average rate of the debt paper declined to 6.7397 percent from 6.8199 percent when it was last auctioned on March 31. The BSP hiked the offer volume to PHP150 billion from PHP130… Read More
Kadiwa trade fair features products of C. Luzon 'agripreneurs'
April 14, 2023, 8:01 pm
CITY OF SAN FERNANDO, Pampanga – Various products from at least 60 "agripreneurs" in Central Luzon took center stage in this week's Kadiwa Trade Fair spearheaded by the Department of Agriculture in Central Luzon (DA-3). The three-day trade fair at the Marquee Mall, Angeles City that ended on… Read More
Fitch Solutions revises budget deficit forecast for PH
April 14, 2023, 7:29 pm
MANILA – The government’s fiscal consolidation is expected to be hampered partly by the impact of a possible slowdown of growth, elevated inflation rate and the Bangko Sentral ng Pilipinas’ (BSP) rate tightening cycle. In a report released on Friday, Fitch Solutions Country Risk and… Read More
PH stocks up on positive US inflation report; peso sideways
April 14, 2023, 7:15 pm
MANILA – The main equities gauge ended Friday with gains after slipping in most of the week while the peso closed sideways against the greenback partly on positive inflation report from the United States. The Philippine Stock Exchange index (PSEi) rose by 0.51 percent, or 33.04 points, to… Read More
BSP survey shows improved consumer sentiments in Q1 2023
April 14, 2023, 5:42 pm
MANILA – Better employment opportunities and availability of other sources of income led to the improvement of consumer sentiments in the first quarter of 2023, results of a Bangko Sentral ng Pilipinas (BSP) survey showed. Results of the consumer expectation survey (CES) conducted from Jan. 19… Read More
BOI investment approvals surge by 155% in Q1
April 14, 2023, 5:01 pm
MANILA – Investment approvals in the Board of Investments (BOI) from January to March 2023 period increased by 155 percent to PHP463.3 billion from PHP181.7 billion in the same period last year. The BOI reported Friday that these pledges came from 68 projects it approved during the… Read More
Medalla open to possible pause in BSP rate hike move in May
April 14, 2023, 8:36 am
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla hinted at a possible pause in the central bank’s rate-hiking cycle, citing the deceleration of the domestic inflation rate. In his presentation during the government’s economic briefing in Washington DC on Wednesday (US… Read More
PH stocks slip on US recession fears; peso almost flat
April 13, 2023, 8:10 pm
MANILA – The local bourse’s main index shed anew on Thursday on fears for a possible United States recession following the release of the minutes of the Federal Reserve’s meeting last March, but the peso ended sideways. The Philippine Stock Exchange index (PSEi) lost 0.32 percent, or 20.55… Read More
Landbank extends P67-M loan for Quirino's Wi-Fi project
April 13, 2023, 7:06 pm
MANILA – State-owned Land Bank of the Philippines (Landbank) has extended a PHP67-million loan to the provincial government of Quirino to finance a reliable and high-speed internet connection. In a press release on Thursday, Landbank said the fund was sourced from its Restoration and… Read More
Milk maker sees 20% revenue growth in 2023
April 13, 2023, 5:53 pm
MANILA – Alaska Milk Corp. (AMC) aims to grow its revenue in the Philippines by 20 percent this year despite the challenging business environment, according to its corporate affairs director, lawyer Maria Angela Esquivel. In an interview Thursday, Esquivel said that aside from growing its sales,… Read More
US biz urged to invest in PH infra projects
April 13, 2023, 4:40 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan has urged American businesses to explore huge opportunities in the country’s infrastructure projects. Speaking at the Philippine economic briefing in Washington D.C. on Wednesday evening (Manila time),… Read More
Bank exec sees no rise in bad loans despite interest rate hike
April 13, 2023, 4:15 pm
MANILA – An executive of Ayala-led Bank of the Philippine Islands (BPI) discounts an increase in bad loans following the hikes in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates. BPI president and chief executive officer (CEO) Jose Teodoro Limcaoco said there is no significant rise in… Read More
Oil rises over IMF optimism on economic recovery
April 12, 2023, 8:24 pm
ANKARA – Oil prices rose on Wednesday due to bullish market sentiment after an optimistic International Monetary Fund (IMF) forecast of targeted global inflation rates, as well as a recovery in Chinese demand. International benchmark Brent crude traded at USD85.80 per barrel at 9.54 a.m. local… Read More
PSEi, peso slip ahead of US inflation data, Fed minutes
April 12, 2023, 7:28 pm
MANILA – Risk-off sentiments resulted in the negative close of both the local bourse’s main index and the peso on Wednesday. The Philippine Stock Exchange index (PSEi) ended the day’s trade at 6,469.42 points, down by 0.16 percent or 10.21 points. All Shares slipped by 0.13 percent, or 4.59… Read More
