Business
BSP’s term deposit facility rates slip
April 12, 2023, 6:42 pm
MANILA – High demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) met the higher offer volume, resulting in the rate decline for both the seven-day and 14-day tenors on Wednesday. Data released by the central bank showed that the average rate of the one-week facility… Read More
Morocco's economy seen to grow by 3% in 2023, 3.1% in 2024 – IMF
April 12, 2023, 6:08 pm
WASHINGTON – Morocco's economy is expected to grow by 3 percent in 2023, according to the International Monetary Fund (IMF). The kingdom's gross domestic product (GDP) is expected to increase by 3 percent in 2023 and by 3.1 percent in 2024, said the IMF in its "World Economic Outlook" report,… Read More
New partnership aims to leverage solar industry professionals
April 12, 2023, 6:03 pm
MANILA – With the growing projects in solar energy, BayWa.r.e. Solar Trade and New Energy Academy (NEA) forged a partnership to develop Filipino talents for the country’s solar power industry. In a statement Wednesday, global renewable energy developer BayWa.r.e. Solar Trade and education… Read More
Central Luzon inflation rate slows down to 8.4% in March
April 12, 2023, 4:30 pm
CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon further slowed down to 8.4 percent in March, based on the latest report of the Philippine Statistics Authority-Regional Statistical Services Office in Central Luzon (PSA-RSSO III). The latest figure is lower by 0.9 percentage… Read More
Vehicle sales up 30% in Q1
April 12, 2023, 3:58 pm
MANILA – Sales of automotive vehicles in the first quarter of the year increased by 30.1 percent to 97,284 units from 74,754 units in the same period in 2022, the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA)… Read More
PSEi, peso end lower ahead of US inflation release
April 11, 2023, 8:02 pm
MANILA – Both the local bourse and the peso incurred losses Tuesday as investors await the release of inflation data in the United States. The Philippine Stock Exchange index (PSEi) shed 8.88 points, or 0.14 percent, to 6,479.63, with all shares ending with 0.20 percent decrement, or 6.88… Read More
Oil up over supply jitters triggered by OPEC+ output cuts
April 11, 2023, 6:26 pm
ANKARA – Oil prices rose on Tuesday over ongoing tight supply concerns after the production cut decision of major producers in OPEC+, while bearish data from China limited further price upticks. International benchmark Brent crude traded at USD85.36 per barrel at 10:07 a.m. local time (0707… Read More
PH exports post biggest drop since August 2020
April 11, 2023, 6:23 pm
MANILA – Philippine exports in February this year registered its biggest drop since August 2020, declining by 18.1 percent to USD5.08 billion from USD6.2 billion in the same month in 2022, the Philippine Statistics Authority (PSA) reported Tuesday. This decline in export revenues dragged the… Read More
PH gets $448-M FDI net inflows in January
April 11, 2023, 5:16 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Tuesday reported that the country’s net foreign direct investment (FDI) inflows at the start of the year stood at USD448 million. The BSP said net inflows in January declined by 45.7 percent from USD824 million in the same month in 2022. “FDI… Read More
Meralco cuts power rates in April
April 11, 2023, 5:12 pm
MANILA – The Manila Electric Company (Meralco) announced on Tuesday it reduced electricity rates for April due to the decrease in generation charges. In a statement, the distribution utility said power rates declined by PHP0.1180 per kilowatt hour (kWh), bringing down electricity charges to… Read More
P500-M insulation panel factory to rise in Pampanga
April 11, 2023, 4:05 pm
MANILA – Phinma Corporation’s construction unit, Phinma Construction Materials Group (CMG), is investing some PHP500 million to put up an insulation panel factory in Pampanga. In a press conference following Phinma’s annual stockholders’ meeting in Makati City Tuesday, Phinma CMG president… Read More
PH unemployment stays at 4.8% in February
April 11, 2023, 2:37 pm
MANILA – The Philippine Statistics Authority (PSA) on Tuesday reported that the unemployment rate in February this year stood at 4.8 percent, the same rate as in January. In a press conference, PSA National Statistician, Undersecretary Dennis Mapa, said the number of jobless Filipinos in… Read More
Meralco powers Atkins’ cold storage facility in South Luzon
April 10, 2023, 8:16 pm
MANILA -- The Manila Electric Company (Meralco), in support of the government’s thrust to achieve food security in the country, has ensured the timely energization of the newest cold storage facility of Atkins Import and Export Resources Inc. Located in Naic town, Cavite province, the… Read More
Stocks up as inflation slows; peso strengthens
April 5, 2023, 9:13 pm
MANILA – The local stock barometer closed the shortened workweek higher on Wednesday while the peso strengthened against the US dollar partly due to the better-than-expected March inflation rate. The Philippine Stock Exchange index (PSEi) rose by 0.25 percent, or 16.47 points, to 6,488.51… Read More
Economist sees further rise in PH foreign reserves
April 5, 2023, 5:38 pm
MANILA – An economist forecasts the country’s dollar reserves to further increase given the resiliency of fundamental inflows, such as overseas Filipino workers’ (OFW) remittances. Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that gross… Read More
NEDA: Gov’t vows to protect Filipinos’ purchasing power
April 5, 2023, 5:24 pm
MANILA – As the Philippine Statistics Authority (PSA) reported that the inflation rate slowed down this March, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said Wednesday the government will continue to implement measures protecting the purchasing power of… Read More
Add'l BSP rate hike possible after core inflation uptick in March
April 5, 2023, 3:03 pm
MANILA – The acceleration of core inflation in March 2023 will likely result in another hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates to help bring down headline inflation within the government’s 2 percent to 4 percent target band, according to the Bank of the Philippine Islands… Read More
BSP: Balance of risks to inflation still on the upside
April 5, 2023, 2:22 pm
MANILA – The balance of risks to inflation outlook for the next two years is still on the upside despite another slowdown in the rate of price increases, the Bangko Sentral ng Pilipinas (BSP) said Wednesday. Citing its latest inflation assessment, the BSP said in a statement that “the effect… Read More
Inflation decelerates to 7.6% in March 2023
April 5, 2023, 1:28 pm
MANILA – The Philippine Statistics Authority (PSA) on Wednesday reported that the inflation rate in March this year slowed down to 7.6 percent from 8.6 percent the previous month. In a press conference, PSA Undersecretary and National Statistician Dennis Mapa said last month’s figure brought… Read More
BTr fully awards 3-year T-bond after rate slips
April 4, 2023, 8:50 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday the three-year Treasury bond after its rates went down due to high demand. It offered the debt paper for PHP25 billion and bids were more than twice at PHP50.979 billion. Its average rate slipped to 5.883 percent from 5.908… Read More
