Business
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
Gov't to implement more measures vs. inflation
March 7, 2023, 6:07 pm
MANILA – The cash aid program and several fiscal measures are set for implementation to help address inflation rate in the country, Finance Secretary Benjamin Diokno said Tuesday. In a briefing in Malacanang, Diokno, who attended a sectoral meeting with President Ferdinand R. Marcos Jr. earlier… Read More
Rate adjustments still possible as inflation remains elevated
March 7, 2023, 2:33 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has reiterated readiness to further adjust its key rates amid the easing of inflation rate in February 2023, citing upside risks from higher domestic and international food prices. The Philippine Statistics Authority (PSA) on Tuesday reported a… Read More
Inflation eases to 8.6% in February
March 7, 2023, 1:50 pm
MANILA – Headline inflation in February this year eased to 8.6 percent from 8.7 percent the previous month, the Philippine Statistics Authority (PSA) reported Tuesday. In a virtual press conference, PSA Undersecretary Dennis Mapa said prices of goods and services remained elevated despite the… Read More
Morocco to host 2023 World Bank Group, IMF Annual Meetings
March 7, 2023, 12:49 pm
MANILA – Morocco will host the 2023 Annual Meetings of the World Bank Group and International Monetary Fund (IMF) in the city of Marrakech on Oct. 9-15. The meetings bring together leading figures, finance ministers, and central bank governors from 189 member countries of these institutions, as… Read More
Oil down over China’s less-than-expected economic growth outlook
March 6, 2023, 9:07 pm
ANKARA – Oil prices declined on Monday over weak demand after China announced a modest economic growth target. International benchmark Brent crude traded at $85.24 per barrel at 10:09 a.m. local time (0709 GMT), down 0.68 percent from the closing price of $85.83 a barrel in the previous trading… Read More
Stocks up, peso ends sideways ahead of inflation report
March 6, 2023, 8:24 pm
MANILA – The local bourse’s main index gained on Monday while the peso ended sideways against the United States dollar as investors awaited the release of the February 2023 inflation rate. The Philippine Stock Exchange index (PSEi) rose by 0.24 percent, or 15.75 points, to 6,671.12 points. All… Read More
Big agri firms urged to partner with small farmers
March 6, 2023, 8:08 pm
MANILA – Go Negosyo founder Joey Concepcion has urged big agriculture companies to join the Kapatid Angat Lahat for Agriculture Program (KALAP), which aims to provide small farmers access to mentoring, funding and markets, to help boost their livelihood. In his opening remarks during the KALAP… Read More
Energy projects in pipeline to help address power costs
March 6, 2023, 6:14 pm
MANILA – Department of Energy (DOE) Undersecretary Felix William Fuentebella on Monday said energy projects in the pipeline will help the country in addressing high power costs. During the Laging Handa public briefing, Fuentebella said almost 57 percent of the country’s power relies on… Read More
PH banks' bad loans ratio seen to remain steady
March 6, 2023, 5:43 pm
MANILA – A report by Fitch Ratings has said corporates’ sufficient financial buffers and economic recovery are seen to offset the expected impact of elevated inflation and higher interest rates to the asset quality of the Philippine banking sector. In a commentary dated March 5, 2023, Fitch… Read More
Price adjustments this week: P1.50 for diesel, P0.40 for gasoline
March 6, 2023, 5:01 pm
MANILA – Oil companies will implement price increases this week, with big-time hikes on diesel and kerosene. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil and Shell announced they will raise gasoline prices by PHP0.40 per liter and PHP1.50 per liter for diesel effective… Read More
SEC extends deadline for annual financial statements
March 3, 2023, 8:54 pm
MANILA – The Securities and Exchange Commission (SEC) has extended the deadline for the submission of annual financial statements (AFS) of corporations this year. The commission on Feb. 27 issued SEC Memorandum Circular No. 1, Series of 2023 (SEC MC 1), which provides the extension of deadlines… Read More
Oil prices drop with global inflationary concerns
March 3, 2023, 7:47 pm
ANKARA – Oil prices fell further on Friday as inflationary concerns and global demand uncertainty weighed on prices. International benchmark Brent crude traded at $84.52 per barrel at 9:55 a.m. local time (0655 GMT), down 0.27 percent from the closing price of $84.75 a barrel in the previous… Read More
Peso strengthens, stocks up on positive earnings reports
March 3, 2023, 7:08 pm
MANILA – Positive earnings reports of locally listed companies helped boost the local bourse’s main index on Friday, which also benefited the peso. The Philippine Stock Exchange index (PSEi) gained 0.50 percent, or 32.92 points, to 6,655.37 points. All Shares followed with a jump of 0.43… Read More
Removal of fees for small transactions eyed
March 3, 2023, 7:03 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is in talks with the banks and other stakeholders on the possibility of exempting small financial transactions from payment of fees. BSP Governor Felipe Medalla said transaction fees are among several problems as the country continues to widen… Read More
Medalla: 50 bps hike in BSP rate for March possible
March 3, 2023, 5:54 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla on Friday said the possibility of a 50 basis points increase in the central bank’s key policy rates remains should domestic inflation rate for February 2023 reached 9 percent. “Well, the worst case scenario is above 9… Read More
E-commerce firm optimistic about sales growth
March 3, 2023, 4:02 pm
MANILA – An executive of online shopping and selling destination Lazada Philippines is optimistic about sustained sales growth this year with the continued reopening of the economy. Kitty Calderon, Lazada Philippines head of marketing, said online sales have remained robust despite buyers now… Read More
PSEi up anew, peso almost flat ahead of economic data release
March 2, 2023, 8:01 pm
MANILA – The local bourse’s main gauge rose anew on Thursday amidst investors’ wait-and-see stance for new economic data but the peso finished the day little changed against the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.23 percent, or 15.32 points, to 6,622.45… Read More
Oil prices drop with global demand uncertainty
March 2, 2023, 6:49 pm
ANKARA – Oil prices decreased on Thursday due to global demand uncertainty and inflationary concerns. International benchmark Brent crude traded at USD84.13 per barrel at 09.48 a.m. local time (0648 GMT), down 0.21 percent from the closing price of USD84.31 a barrel in the previous trading… Read More
Mega Prime Food exec eyes 18% rise in sales
March 1, 2023, 9:01 pm
MANILA – An executive of Mega Prime Food Inc. (MPFI) targets around 18 percent rise in sales this year, sustaining its increase in the last five year, due in part to wider distribution channels and increased production. In an interview during the inauguration of the company’s PHP1-billion… Read More
