Business
Oil prices retreat on US recession fears, slow growth in China
January 23, 2023, 6:04 pm
ANKARA – Oil prices slightly dropped on Monday underpinned by tentative economic growth in China and potential recession in the US. International benchmark Brent crude traded at USD87.51 per barrel at 9.54 a.m. local time (0654GMT), down 0.14 percent from the closing price of USD87.63 a barrel… Read More
CCAP backs hike in credit cards' monthly interest rate cap
January 23, 2023, 5:30 pm
MANILA – The Credit Card Association of the Philippines (CCAP) on Monday said the latest decision of the Bangko Sentral ng Pilipinas (BSP) to hike the maximum finance charge on cardholder’s unpaid outstanding balance from 2 percent to 3 percent is a win-win situation for the industry and… Read More
Upskilling necessary to avoid job shedding from automation: DTI
January 23, 2023, 4:56 pm
MANILA – Trade and Industry Secretary Alfredo Pascual on Monday reminded business executives to continue reskilling and upskilling their workforce to avoid job shedding as businesses adopt technology and embrace automation. During the inaugural meeting of the Finance Executives Institute of the… Read More
Oil prices up for second straight week
January 23, 2023, 1:16 pm
MANILA – Motorists would have to brace for another week of higher pump prices, with the latest increment exceeding PHP2 per liter. Effective Tuesday, Caltex, Cleanfuel, Seaoil, and Shell will hike gasoline prices by PHP2.80 per liter and diesel by PHP2.25 per liter. Caltex, Seaoil, and Shell… Read More
Chinese e-vehicle firm investing P25-B in PH
January 21, 2023, 5:03 pm
MANILA – A Chinese electric vehicle company is registering with the Fiscal Incentives Review Board for three projects worth PHP25 billion, Trade Undersecretary Ceferino Rodolfo said Saturday. Rodolfo declined to name the firm but said the projects of the Chinese company will involve leasing of… Read More
IPAs vow to realize investment pledges from PBBM trips
January 21, 2023, 2:37 pm
MANILA – The Board of Investments (BOI) and Philippine Economic Zone Authority (PEZA) vowed to follow through on the investment pledges that President Ferdinand R. Marcos Jr. bagged from his recent foreign trips. At the Saturday News Forum at Dapo Restaurant in Quezon City, PEZA deputy director… Read More
PH stocks index, peso finish week sideways
January 20, 2023, 6:55 pm
MANILA – Both the local bourse’s main index and the peso ended the week sideways as their US counterparts weaken on signs of recession, among others, in the world’s largest economy. The Philippine Stock Exchange index (PSEi) shed 0.08 percent, or 5.39 points, to 7,056.62 points. All Shares… Read More
BSP 28-day securities’ rate declines anew
January 20, 2023, 6:05 pm
MANILA – Rate of the Bangko Sentral ng Pilpinas’ (BSP) 28-day bills slipped anew on Friday amidst strong demand for the debt paper on the back of the high liquidity environment in the country. Data released by the central bank on Friday showed that average rate of the debt paper slipped to… Read More
PH ranks 5th in BPO inquiries: outsourcing report
January 20, 2023, 4:18 pm
MANILA – The Philippines received one of the highest numbers of inquiries on outsourcing, according to the 2022 Outsourcing Performance Report of Outsource Accelerator (OA), a marketplace for the business process outsourcing (BPO) industry. The country ranked fifth with the most number of… Read More
Netflix’s revenue rises in 4Q 2022, membership up 4% annually
January 20, 2023, 2:18 pm
ISTANBUL – Netflix saw its revenue and membership increase in the fourth quarter of last year, according to financial figures released Thursday. The online streaming platform saw its revenue rise to $7.85 billion in the October-December period, up 1.8% from $7.71 billion in the same period of… Read More
Economist eyes further improvement in PH balance of payments
January 19, 2023, 8:15 pm
MANILA – The Philippines’ balance of payment (BOP) position reversed to a surplus in December 2022 to USD612 million and an economist forecasts further improvement in the coming months as structural US dollar inflows continue to increase. Data released by the Bangko Sentral ng Pilipinas (BSP)… Read More
PH stocks index, peso post correction
January 19, 2023, 7:02 pm
MANILA – The local bourse’s main index posted a correction on Thursday, partly on profit-taking, while the peso ended the day sideways, backed partly by expectations for lower hikes in the Federal Reserve's key rates. The Philippine Stock Exchange index (PSEi) shed 0.46 percent, or 32.85… Read More
PBBM has accomplished a lot in Davos: economic managers
January 19, 2023, 5:29 pm
MANILA – Economic managers said President Ferdinand R. Marcos Jr. has done a lot to explain to top leaders and businessmen attending the World Economic Forum (WEF) in Davos, Switzerland the Philippines’ success stories amid the pandemic Quoting Finance Secretary Benjamin Diokno during a… Read More
Investment leads in PBBM foreign trips to benefit PH beyond 2028
January 19, 2023, 5:23 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the investment pledges that President Ferdinand R. Marcos Jr. were able to secure during his foreign trips would benefit Filipinos even beyond his term. These investment pledges, when realized, will help… Read More
RE-powered e-vehicle charging hubs eyed
January 19, 2023, 3:12 pm Updated on January 20, 2023, 9:53 am
MANILA – The Department of Energy (DOE) has forged a tripartite memorandum of agreement (MOA) with Pilipinas Shell Petroleum Corp. (PSPC) and Shell Energy Philippines, Inc. (SEPH) Thursday to conduct a pilot study on the use of renewable energy like solar power in electric vehicle charging… Read More
PH to gain from biz, cooperation opportunities from WEF meeting
January 19, 2023, 8:47 am
MANILA – The attendance of the Philippine delegation to the World Economic Forum (WEF) annual meeting in Davos, Switzerland will likely attract foreign direct investments (FDIs) and portfolio investments to the country, an economist said Wednesday. Aside from business-related opportunities,… Read More
Amazon reclaims title of most valuable brand
January 18, 2023, 7:29 pm
ISTANBUL – The US-based e-commerce giant Amazon has reclaimed the title of the most valuable brand, according to a new report. According to the report released by Brand Finance, a leading valuation and strategy consultancy group, Amazon regained the title despite a 15% drop in its brand value to… Read More
PH stocks index, peso up anew
January 18, 2023, 6:09 pm
MANILA – Optimism on the United States' retail sales as well as domestic output this year lifted sentiments in the local bourse, which also benefited the local currency on Wednesday. The Philippine Stock Exchange index (PSEi) sustained its climbed and rose by 1.15 percent, or 80.82 points, to… Read More
OPEC keeps world oil demand growth unchanged for 2023
January 18, 2023, 5:54 pm
ANKARA – The Organization of Petroleum Exporting Countries (OPEC) kept global oil demand growth unchanged for 2023. According to OPEC's most recent monthly oil market report published Tuesday, oil demand will grow by 2.2 million barrels per day (bpd) in 2023 to reach 101.8 million bpd with… Read More
TDF rates down anew
January 18, 2023, 4:00 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) declined on Wednesday, with demand favoring the shorter tenor facility. Data released by the central bank show that the average rate of the seven-day TDF slipped to 6.2973 percent from 6.3553 percent during… Read More
