Business
Report: PH seen to weather possible global recession
February 21, 2023, 7:51 pm
MANILA – The Philippine government’s push to increase its infrastructure spending and the recovery of the manufacturing sector, among others, are expected to buoy the domestic economy from the impact of the possible recession in the United States. According to February 2023 issue of The Market… Read More
BTr fully awards 10-year T-bond
February 21, 2023, 7:13 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday a 10-year Treasury bond after it fetched a rate that was lower than in the secondary market. It offered the debt paper for PHP35 billion and bids reached nearly three times at PHP92.254 billion. The average rate of the T-bond… Read More
PSEi up on positive earnings data as peso weakens vs. dollar
February 21, 2023, 6:50 pm
MANILA – The local bourse’s main index recovered on Tuesday after a three-day decline, boosted by positive earnings reports by local listed firms, but the peso weakened against the United States dollar. The Philippine Stock Exchange index (PSEi) gained 0.84 percent, or 56.84 points, to… Read More
MBC backs creation of water office, RCEP concurrence
February 21, 2023, 6:27 pm
MANILA – The Makati Business Club (MBC) supports the Marcos administration’s establishment of a Water Resources Management Office (WRMO) and the concurrence of the Regional Comprehensive Economic Partnership (RCEP). In statements released on Tuesday, the MBC said the creation of the WRMO will… Read More
Small biz can secure financing from banks via CSF cooperative
February 20, 2023, 8:27 pm
MANILA – Small businesses now have greater chances to securing funding from banks once they become part of a cooperative accredited by the Credit Surety Fund (CSF). Cooperative Development Authority (CDA) senior cooperative development specialist and head of CSF Section of CDA National Capital… Read More
BTr partially awards 91-day, 182-day T-bills
February 20, 2023, 7:14 pm
MANILA – The Bureau of the Treasury (BTr) partially awarded on Monday the three- and six-month Treasury bills (T-bills) after rates increased following last week’s rate hike decision by the Bangko Sentral ng Pilipinas (BSP). It offered all tenors for PHP5 billion each but only accepted PHP3.55… Read More
PH stocks slip, peso up ahead of Fed meeting
February 20, 2023, 7:10 pm
MANILA – Risk-off sentiments reigned in the local bourse on Monday ahead of the Federal Reserve meeting later in the week, resulting in the negative close of the main index but the peso gained against the United States dollar. The Philippine Stock Exchange index (PSEi) shed 0.51 percent, or 34.9… Read More
NEDA: Surge in agricultural imports unlikely under RCEP
February 20, 2023, 7:06 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan refutes claims that the Regional Comprehensive Economic Partnership (RCEP) will allow the influx of agricultural imports in the country. “Several consultations with concerned stakeholders and studies on the… Read More
Oil up on expectations of improved Chinese demand
February 20, 2023, 6:36 pm
ANKARA – Oil prices rose on Monday due to strong demand in China, but further gains were limited by the United States decision to sell oil from emergency stockpiles and an unexpected build in the country's crude oil inventories. International benchmark Brent crude traded at $83.67 per barrel at… Read More
Bulacan to house largest veggie greenhouse complex
February 20, 2023, 6:33 pm
SAN RAFAEL, Bulacan – Manny V. Pangilinan’s Metro Pacific Investments Corp. (MPIC) has partnered with Israeli firm LR Group in building the largest vegetable greenhouse facility in the Philippines to be located in this town of Bulacan province. Jovy Hernandez, Metro Pacific Agro Ventures, Inc.… Read More
Fitch Solutions sees 50 bps hike in BSP key rates in May
February 20, 2023, 5:43 pm
MANILA – Fitch Solutions sees another 50 basis points increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates this May, noting projection for continued acceleration of domestic inflation and forecasts rate adjustments pause until end-2023. Last week, the BSP policy-making Monetary Board… Read More
Gasoline, diesel prices up; kerosene down
February 20, 2023, 2:45 pm
MANILA – Oil companies will adjust fuel prices on Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil and Shell said they will increase gasoline prices by PHP0.90 per liter and PHP1.05 per liter on diesel prices. On the other hand, Caltex, Seaoil and Shell will… Read More
PBBM bats for ‘innovative, sustainable’ manufacturing sector
February 19, 2023, 2:24 pm
MANILA – The Marcos administration is making the manufacturing sector innovative and sustainable in an effort to entice more foreign investors and make the Philippines a prime investment destination, a Trade official said on Saturday. During the Saturday News Forum in Quezon City, Lanie… Read More
P344-B investment leads in the pipeline: BOI
February 18, 2023, 4:12 pm
MANILA – Trade Secretary Alfredo Pascual said Saturday the Board of Investments (BOI) has investment leads of PHP344 billion, which would allow the agency to hit its target before the year ends. “So far, the agency has potential investment leads of around PHP344 billion that will still be… Read More
Diokno urges digital transformation to boost insurance sector
February 17, 2023, 9:33 pm
MANILA – Digital transformation and ensuring fairness of insurance premiums are among the keys to increase insurance penetration in the country, Finance Secretary Benjamin Diokno said. In his speech during the Insurance Commission's (IC) 74th anniversary celebration at the Philippine… Read More
Oil prices fall over weak demand signs in US
February 17, 2023, 7:53 pm
ANKARA – Oil prices fell further on Friday, as investors fear the Federal Reserve will not stop raising interest rates anytime soon, despite signs of stronger demand in China. International benchmark Brent crude traded at USD84.17 per barrel at 09:46 a.m. local time (0646 GMT), down 1.14 percent… Read More
PSEi, peso end week down on inflation, central bank rate concerns
February 17, 2023, 7:21 pm
MANILA – The local stock barometer ended the week lower on inflation concerns and central banks’ rate hiking path and this was mirrored by the local currency. The Philippine Stock Exchange index (PSEi) shed 0.54 percent, or 36.89 points, to 6,779.02 points. All Shares followed with a decline… Read More
HSBC eyes add'l 50 bps hike in BSP key rates until May
February 17, 2023, 7:17 pm
MANILA – Expectations for sustained acceleration of domestic inflation rate make HSBC forecasts two 25 basis points increase in the Bangko Sentral ng Pilipinas’ key rates until May this year before monetary authorities pause the rate increases. In a report dated Feb. 16, HSBC Global Research… Read More
BSP fully awards 28-day bill amid rate uptick
February 17, 2023, 5:49 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) 28-day bill auction was oversubscribed on Friday but rate of the debt paper posted an uptick tracking the path of the central bank’s key rates. Data released by the central bank showed that the average rate of the bill rose to 6.4707 percent… Read More
Envoy urges PH to boost exports to Qatar
February 17, 2023, 5:43 pm
By Ashraf Siddiqui DOHA – Exportation of more products could enhance bilateral trade between the Philippines and Qatar. During the two-day business matching session in Doha, Qatar that concluded on Thursday, Philippine ambassador to Qatar Lillibeth Pono said 2021 annual bilateral trade between… Read More
