Business
BSP's 28-day bill rate up anew ahead of holidays
March 31, 2023, 6:32 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bill rose on Friday and the high investors demand resulted in oversubscription. Data released by the BSP showed that the average rate of the debt paper inched up to 6.8199 percent from 6.7650 percent during the auction last… Read More
Napocor to stop acquiring diesel gensets
March 31, 2023, 6:29 pm
MANILA – The National Power Corp. (Napocor) on Friday expressed its support for the energy chief’s directive to stop acquiring diesel generating sets (gensets) to accelerate the renewable energy program in its Small Power Utilities Group (SPUG) power plants. In a statement Friday, Napocor… Read More
Fitch: PH’s renewable energy policy reforms gaining ground
March 31, 2023, 6:27 pm
MANILA – The Philippine government’s policy reforms and measures in strengthening the renewable energy (RE) sector are gaining ground amid the increased interest from the private sector to invest in RE in the country. In Fitch Solutions Country Risk & Industry Research’s recent commentary on… Read More
Financial market developments abroad to affect PH hot money flows
March 31, 2023, 3:57 pm
MANILA – Developments on United States inflation rate and price movements of oil and other commodities in the global market are seen to contribute to the movements of registered foreign portfolio investments to the Philippines in the coming months. On Friday, the Bangko Sentral ng Pilipinas… Read More
PH residential real estate prices up in Q4 '22
March 31, 2023, 2:32 pm
MANILA – Prices of residential real estate in the Philippines registered faster year-on-year growth in the last quarter of 2022 but slower quarter-on-quarter, except for the townhouses outside the National Capital Region (NCR). Residential Real Estate Price Indices (RREPI) data released by the… Read More
BSP eyes March inflation at 7.4% to 8.2%
March 31, 2023, 2:14 pm
MANILA – The easing of the prices of domestic petroleum and some food items is seen to contribute to the possible slowdown of the inflation rate in March to between 7.4 percent and 8.2 percent, the Bangko Sentral ng Pilipinas (BSP) said. In a statement on Friday, the BSP said the recent… Read More
PSEi up as global banking worries wane; peso almost flat
March 30, 2023, 7:39 pm
MANILA – Risk-on sentiments returned to the local bourse as worries about the banking issues overseas waned a bit, resulting in another rise for the main index on Thursday, while the peso ended sideways against the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.21 percent, or… Read More
Businesses upbeat as economy fully reopens
March 30, 2023, 7:00 pm
MANILA – The full reopening of the Philippine economy has lifted investors’ confidence, results of the first quarter 2023 Business Expectations Survey (BES) of the Bangko Sentral ng Pilipinas (BSP) indicate. In a briefing on Thursday, BSP Monetary Policy Sub-Sector officer-in-charge… Read More
Oil prices rise with higher demand in US
March 30, 2023, 6:37 pm
ANKARA – Oil prices increased on Thursday amid higher demand for crude in the United States. International benchmark Brent crude traded at USD77.68 per barrel at 9:15 a.m. local time (0615 GMT), a 0.12 percent increase from the closing price of USD77.59 a barrel in the previous trading… Read More
UK offers £8-B British Investment Partnerships funding for PH
March 30, 2023, 6:15 pm
MANILA – The United Kingdom (UK) is looking at viable green energy and infrastructure projects in the Philippines where its £8 billion fund from the British Investment Partnerships (BIP) can be invested. UK Minister for Indo-Pacific Anne-Marie Trevelyan launched the BIP in the Philippines… Read More
Danish firm investing $5-B for offshore wind projects in PH
March 30, 2023, 5:16 pm
MANILA – Danish firm Copenhagen Infrastructure Partners (CIP) is investing USD5 billion to develop three offshore wind energy projects in the Philippines with a potential capacity of 2,000 megawatts (MW). Department of Energy (DOE) Secretary Raphael Lotilla and CIP associate partner Przemek… Read More
Infra spending, debt issuance to hike nat'l gov’t liabilities
March 30, 2023, 5:11 pm
MANILA – The issuance of United States dollar or euro-denominated bonds and the government’s bid to sustain the rise of its infrastructure investments to boost the economy’s expansion are expected to further increase government liabilities, an economist said. In a commentary on Thursday, … Read More
BSP's TDF rates up anew
March 29, 2023, 11:28 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose on Wednesday and demand was strong ahead of the Holy Week holidays. The average rate of the seven-day facility rose to 6.6563 percent from the 6.6152 percent during the auction last March 22, and the… Read More
Chemical, food maker posts record-high earnings in 2022
March 29, 2023, 8:46 pm
MANILA – Filipino-owned food, chemicals, plastics and consumer product manufacturer D&L Industries has registered record-high earnings in 2022 amid volatilities and challenges in the global economy. In a virtual briefing on Wednesday, president and chief executive officer (CEO) Alvin Lao said… Read More
PH stocks up amid US interest rate rise worries; peso ends flat
March 29, 2023, 7:50 pm
MANILA – The local stock barometer closed higher Wednesday as investors worry about the impact of higher interest rates on the United States economy, while the peso ended unchanged against the US dollar. The Philippine Stock Exchange index (PSEi) gained 0.42 percent, or 27.82 points, to 6,630.97… Read More
Meralco rolls out 300-MW emergency power supply deal
March 29, 2023, 7:02 pm
MANILA – The Manila Electric Company (Meralco) on Wednesday said it has executed the emergency power supply agreement (EPSA) with South Premiere Power Corp. (SPPC) for a 300-megawatt (MW) baseload supply. In a statement, Meralco said the EPSA is effective from March 26, 2023 to March 25, 2024.… Read More
PEZA investment approvals up 54% to P12.5-B in Q1
March 29, 2023, 7:00 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has reported that its investment approvals in the first quarter of 2023 amounted to PHP12.54 billion, 54 percent higher compared to the same period a year ago. In a statement Wednesday, PEZA said these pledges came from 42 new and expansion… Read More
Marcos admin pushing for improved connectivity
March 29, 2023, 5:10 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual on Wednesday underscored the Marcos administration’s push to improve connectivity across the country. During the Urban Land Institute of the Philippines Conference 2023 at the Grand Hyatt Manila in Taguig City, Pascual… Read More
UK drivers seen to earn £6.5B more by 2035 with high EV rollout
March 29, 2023, 2:03 pm
LONDON – United Kingdom (UK) drivers could earn £6.5 billion ($8 billion) more by selling electricity back to the grid from their electric vehicle (EV) batteries during the teatime peak of electricity demand if the government follows a high deployment scenario of an EV rollout, a new analysis… Read More
Oil mixed over growing global economic growth uncertainties
March 28, 2023, 8:19 pm
ANKARA – Oil prices were mixed on Tuesday as negative global economic growth forecasts raised demand concerns, while a buyout deal of the defunct Silicon Valley Bank (SVB) allayed investor concerns about the United States banking system. International benchmark Brent crude traded at $77.65 per… Read More
