Business
10 US firms in Manila for trade mission
March 10, 2023, 2:11 pm
MANILA – Ten United States-based businesses are in Manila this week for a trade mission to look for local partners and possibly expand their operations in the Philippines. The US businesses here are part of the 120 companies joining the Association of Southeast Asian Nations (ASEAN) business… Read More
MSMEs get P1.2-B fund assistance under 2023 budget
March 9, 2023, 9:49 pm
MANILA – The Department of Budget and Management (DBM) on Thursday announced that a total of PHP1.2 billion will fund various government programs to boost micro, small and medium enterprises (MSMEs) under this year’s national budget. In a news release, the DBM said these programs are part of… Read More
Exec bullish on Batangas industrial park's expansion
March 9, 2023, 8:28 pm
MANILA – Expectations for continued growth of the economy makes Aboitiz InfraCapital (AIC) head Rafael Fernandez de Mesa optimistic about the expansion bid for the company’s 1,000-hectare LIMA Estate in Lipa City and Malvar town, both in Batangas province. In a briefing on Thursday, de Mesa… Read More
PSEi snaps win streak on rate hike worries; peso almost flat
March 9, 2023, 7:34 pm
MANILA – The local stock barometer snapped a run of increases on Thursday on rate hike worries but the peso registered a correction against the United States dollar. The Philippine Stock Exchange index (PSEi) lost 1.52 percent, or 102.22 points, to 6,609.27 points. All Shares followed with a… Read More
Proposed amendments to Constitution seen to benefit economy
March 9, 2023, 4:55 pm
MANILA – The economy is expected to get a boost from the proposed amendment to the Constitution given that current focus includes the economic provisions, according to Fitch Solutions. In a commentary dated March 7, Fitch Solutions said amendments to the economic provisions of the law, such as… Read More
PH manufacturing output, value grow double-digit
March 9, 2023, 3:38 pm
MANILA – Production volume and value in the manufacturing sector grew double digits in January 2023, the Philippine Statistics Authority (PSA) reported Thursday. Volume of production index (VoPI) at the start of the year went up to 10.6 percent from 4.2 percent in December 2022. It was… Read More
Unemployment rate rises to 4.8% in January
March 9, 2023, 1:54 pm
MANILA –The Philippine Statistics Authority (PSA) on Thursday reported the unemployment rate in January 2023 rose to 4.8 percent from 4.3 percent the previous month. In a press conference, PSA Undersecretary Dennis Mapa said there were 2.37 million Filipinos aged 15 years old and above who did… Read More
AREIT, ALI set swap deal for P22.5B worth of assets
March 8, 2023, 9:04 pm
MANILA – The Philippine Real Estate Investment Trust (AREIT) and Ayala Land Inc. (ALI) will have a third property-for-share swap involving PHP22.479 billion worth of flagship offices and malls in vis-à-vis 607,559,380 AREIT primary common shares. In a disclosure in the local bourse on… Read More
Economist: PH foreign reserves still robust despite decline
March 8, 2023, 8:30 pm
MANILA – An economist said Wednesday the gross international reserves (GIR) remained strong amid the decline, and still a boost to the local currency and the country’s investment grade rating. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the latest foreign… Read More
TDF rates up ahead of BSP policy rate meeting
March 8, 2023, 7:45 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rates rose on Wednesday and the two-week tenor posted undersubscription, a development traced to anticipation for further hikes in the central bank’s key rates. The average rate of the seven-day TDF inched up to 6.5070… Read More
PSEi rises anew on slower inflation; peso weakens
March 8, 2023, 7:41 pm
MANILA – The local bourse’s main index improved anew on Wednesday, a day after the release of a slower inflation rate for February, but the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) gained by 0.10 percent, or 6.37 points, to 6,711.49 points. On the other… Read More
DTI programs help women entrepreneurs grow businesses
March 8, 2023, 5:15 pm
MANILA – In line with the celebration of International Women’s Day, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the agency aims to level the playing field for women entrepreneurs through its programs. In a statement Wednesday, Pascual said out of all registered… Read More
BCDA seeks partner for P1-B solar project in New Clark City
March 8, 2023, 4:49 pm
MANILA – The Bases Conversion and Development Authority (BCDA) is seeking partners from the private sector to build the 25-megawatt solar farm project in New Clark City in Central Luzon. In a statement Wednesday, the BCDA said the large-scale solar project will be located in a 37-hectare… Read More
C. Luzon’s inflation rate slows down to 9.3% in February
March 8, 2023, 4:43 pm
CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon eased to 9.3 percent in February after five consecutive months of acceleration. The latest figure is higher by 6.3 percentage points from 3 percent in February 2022 and 0.5 percentage points lower from 9.8 percent in January… Read More
MBC welcomes creation of committee on inflation, market outlook
March 8, 2023, 4:23 pm
MANILA – The Makati Business Club (MBC) has welcomed the approval of President Ferdinand R. Marcos Jr. to establish the Interagency Committee on Inflation and Market Outlook that will guide the Chief Executive and his Cabinet on ways to combat inflation. "We applaud the government making this… Read More
Engineering conglomerate posts record-high profit
March 7, 2023, 9:16 pm
MANILA – Diversified engineering conglomerate aims to increase volume and maximize cost management this year to address projected slowdown of the commodity and electricity markets, which drove the firms’ earnings last year. In a disclosure in the local bourse on Tuesday, DMCI Holdings reported… Read More
25 bps hike in BSP rates eyed as inflation decelerates
March 7, 2023, 8:58 pm
MANILA – Economists are considering a 25 basis points increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates later this month after inflation rate posted a slower year-on-year expansion last February. The Philippine Statistics Authority (PSA) reported during the day the deceleration of… Read More
PBBM approves interagency committee to combat inflation
March 7, 2023, 8:39 pm
MANILA – President Ferdinand R. Marcos Jr. has approved the creation of a high-level inter-agency advisory body to mitigate inflation and ensure food and energy security, according to National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan. Balisacan said the advisory body… Read More
Stocks up on slight deceleration of inflation; peso weakens
March 7, 2023, 7:53 pm
MANILA – The local stock barometer gained anew on Tuesday partly on the better-than-expected inflation rate for February 2023 but the peso weakened against the United States dollar. The Philippine Stock Exchange index (PSEi) rose by 0.51 percent, or 34 points, to 6,705.12 points. All Shares… Read More
DTI pushes strategies to boost growth of creative industries
March 7, 2023, 6:29 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said challenges in the creative industries need to be addressed for the development of the local sector and to determine the contribution of the sector to the economy. During the opening of the 2nd Philippine Creative… Read More
