Business
ERC mitigates prices amid volatile power market
March 16, 2023, 9:10 pm
MANILA – The Energy Regulatory Commission (ERC) has assured the public it is implementing its mandate to promote competition and ensure a fair market in the energy sector to protect Filipino consumers from price shocks amid the volatility in electricity prices. During the Pandesal forum at… Read More
Finance firm eyes 10M customer base this year
March 16, 2023, 9:04 pm
MANILA – Officials of consumer finance company Home Credit Philippines (HCPH) are optimistic about increasing the number of its customer base to 10 million this year, as they bank on the recovery of demand from the pandemic. The company hit a milestone last year when its customer base reached… Read More
PH biz urged to sell more to Chinese market
March 16, 2023, 8:59 pm
MANILA – Filipino entrepreneurs are encouraged to tap the 1.4 billion Chinese market, the largest in the world, as China appoints its new premier tasked to reinvigorate China’s economy from the impacts of the pandemic. Executives from the Integrated Development Studies Institute (IDSI) and… Read More
Fallout from collapse of US banks causes more trouble in Europe
March 16, 2023, 6:14 pm
ROME – Banking giant Credit Suisse lost nearly a fourth of its value Wednesday amid the growing fallout from the collapse of two regional banks in the United States. It marked the second time in three trading sessions since the collapse of California's Silicon Valley Bank (SVB), and the… Read More
PH stocks down, peso almost flat amid global banking fears
March 16, 2023, 6:10 pm
MANILA – The local stock barometer declined anew as investors continue to fear the impact of the banking issues in the United States and the fall of Swiss bank Credit Suisse’s shares to record low, but the peso ended the day sideways against the US dollar. The Philippine Stock Exchange index… Read More
SEC grants amnesty on non-filing, late filing of reports
March 16, 2023, 5:08 pm
MANILA – The Securities and Exchange Commission (SEC) is granting corporations and other regulated entities an amnesty on the late and non-filing of certain reportorial requirements. The Commission on March 15 issued SEC Memorandum Circular No. 2, Series of 2023, or the Grant of Amnesty for… Read More
World's No. 1 semiconductor cluster to be set up in Seoul
March 16, 2023, 1:55 pm
SEOUL – South Korea will create the world's largest semiconductor cluster in the Seoul metropolitan area by attracting 300 trillion won (USD229.81 billion) in investments as part of efforts to secure a competitive edge in the sector, the industry ministry said Wednesday. It is part of the… Read More
Solon bats for cheaper ways for Filipinos to invest
March 15, 2023, 8:49 pm
MANILA – A lawmaker on Wednesday underscored the need to pass a legal framework for collective investment schemes (CIS) to make it easier and cheaper for working Filipinos to invest in legitimate securities. During the hearing of the House Committee on Economic Affairs, Albay Rep. Joey Salceda… Read More
TDF rates rise, 7-day facility posts undersubscription
March 15, 2023, 8:13 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose on Wednesday and the seven-day facility registered undersubscription. Data released by the central bank showed that the average rate of the seven-day TDF rose to 6.5537 percent from 6.5070 percent… Read More
More franchising biz seen to open outside NCR
March 15, 2023, 8:10 pm
MANILA – Philippine Franchise Association (PFA) president Chris Lim said Wednesday the majority of franchising businesses will continue open in the provinces in the succeeding years as growth has spread outside Metro Manila. In a press conference in Quezon City, Lim said many people went back to… Read More
Economist: Inflation helps increase remittance inflows
March 15, 2023, 8:07 pm
MANILA – An economist Wednesday attributed the increase of cash remittances from overseas Filipino workers (OFWs) partly to higher inflation rate as recipients needed more funds for their needs. The Bangko Sentral ng Pilipinas (BSP) reported that remittances sent home by Filipino workers… Read More
Stocks, peso rise amid concerns on US banking sector
March 15, 2023, 8:04 pm
MANILA – The local bourse’s main index recovered on Wednesday amidst concerns on the banking sector in the United States while the peso gained against the US dollar. After a five-day slide, the Philippine Stock Exchange index (PSEi) rose by 1.14 percent, or 72.77 points, to 6,466.10 points.… Read More
PH eyes 50 franchising brands in int’l market in 3 years
March 15, 2023, 6:02 pm
MANILA – The Philippines targets to see 50 Filipino franchising brands across the world over the next three years, Philippine Franchise Association (PFA) chairman emeritus Samie Lim said Wednesday. In a press conference in Quezon City, Lim said there are already 20 Filipino franchising brands… Read More
SEC warns Bicolanos vs. dubious vehicle financing schemes
March 15, 2023, 5:16 pm
LEGAZPI CITY – The Securities and Exchange Commission (SEC) in Bicol alerted the public on Wednesday against companies or individuals financing and promising low down payment and monthly amortization (MA) for an acquisition of a vehicle. In an interview, Arlyn Joy Alarcon, SEC-Bicol information… Read More
Renewable energy firm to invest P20B for projects in 3-5 yrs
March 14, 2023, 9:21 pm
MANILA – Alternergy Holdings Corporation and several partners are planning to invest some PHP20 billion in the next three to five years to put-up various renewable energy (RE) projects that can produce around 300 to 350 megawatts capacity. In a briefing on Tuesday, Alternergy president Gerry… Read More
BTr fully awards 13-year T-bond as rate declines
March 14, 2023, 9:13 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday the 13-year Treasury bond (T-bond) due to decline in rates and strong demand. The average rate of the debt paper went down to 6.167 percent from 6.197 percent when it was previously auctioned last January.The BTr said the debt… Read More
PH records trade deficit at start of 2023
March 14, 2023, 9:11 pm
MANILA – The country registered a trade deficit of USD5.74 billion at the start of the year, which was 27.2 percent higher than the USD4.51-billion deficit in January 2022. The Philippine Statistics Authority (PSA) reported Tuesday that the country incurred a deficit in January this year as… Read More
Digitization in PH logistics sector to ease port congestion
March 14, 2023, 7:48 pm
MANILA – Digitizing the logistics sector through the use of technologies, such as supply chain management system and digitizing the process of customs filing, will help the country’s main port to alleviate congestion, according to a logistics technology firm executive. In a press briefing in… Read More
PH stocks, peso slip after major US bank's collapse
March 14, 2023, 7:39 pm
MANILA – Fears over the impact of the United States-based Silicon Valley Bank’s collapse continued to dampen market sentiments, resulting in another decline of the Philippine Stock Exchange index (PSEi), which the peso mirrored. The main equities index shed 2.31 percent, or 151.12 points, to… Read More
US stocks end mixed amid banking sector fears
March 14, 2023, 7:33 pm
NEW YORK – Wall Street's major averages finished mixed on Monday as investors dumped financial shares after recent bank failures in the United States. The Dow Jones Industrial Average fell 90.5 points, or 0.28 percent, to 31,819.14. The S&P 500 decreased 5.83 points, or 0.15 percent, to… Read More
