Business
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
Sustainability reporting in PEZA zones eyed
January 18, 2023, 2:53 pm
MANILA – The Philippine Economic Zone Authority (PEZA) will launch sustainability reporting among registered business enterprises (RBEs) in economic zones this year. In a statement Wednesday, PEZA said integrating sustainability reporting in the reporting requirements for the RBEs is part of its… Read More
PAL announces system 'slowdown' Jan. 21-22 due to upgrade
January 18, 2023, 2:20 pm
MANILA – Flag carrier Philippine Airlines (PAL) on Wednesday announced a "system slowdown" that passengers may experience this weekend due to the airline's scheduled website upgrade. In an advisory, PAL said that from 11 p.m. of Jan. 21 until 7 a.m. of Jan. 22, its website may respond "very… Read More
DTI chief presents PH as investment hub in Asia at WEF
January 17, 2023, 6:55 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has presented the Philippines as an investment destination in Asia at the World Economic Forum (WEF) Annual Meeting 2023 in Davos, Switzerland. In a statement Tuesday, Pascual said he met with senior executives of… Read More
BTr hikes award for 20-year T-bond
January 17, 2023, 6:50 pm
MANILA – The Bureau of the Treasury (BTr) upsized on Tuesday the awarded 20-year Treasury bond (T-bond) after its rate declined. It offered the debt paper for PHP35 billion but after bids reached nearly four times, at PHP133.947 billion, the auction committee accepted PHP49 billion. Rate of the… Read More
PH stocks index slips, peso finishes sideways
January 17, 2023, 6:45 pm
MANILA – Profit-taking took over the local bourse’s main index on Tuesday resulting in its slip while the peso ended the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.45 percent, or 31.44 points, to 7,014.04 points. All Shares also ended in the red… Read More
AMRO revises PH growth outlook for 2022, 2023
January 17, 2023, 1:09 pm
MANILA – The ASEAN+3 Macroeconomic Research Office (AMRO) has revised its economic growth outlook for the Philippines for the full year of 2022 and 2023. In a press conference Tuesday, AMRO chief economist Hoe Ee Khor said the Philippines recorded strong gross domestic product (GDP) growth in… Read More
Oil down ahead of industry data
January 16, 2023, 6:44 pm
ANKARA – Oil prices fell on Monday ahead of industry data by two major energy watchdogs as well as rising Covid-19 (coronavirus disease 2019) cases in China. International benchmark Brent crude traded at USD84.64 per barrel at 10.26 a.m. local time (0726 GMT), a 0.75 percent decrease from the… Read More
PH stocks index, peso start the week up
January 16, 2023, 6:28 pm
MANILA – Optimism on the domestic economy’s performance this 2023 lifted the local bourse's main index above the 7,000-level on Monday, which, in turn, was mirrored by the peso. The Philippine Stock Exchange index (PSEi) gained 1.35 percent, or 93.94 points, to 7,045.48 points. All Shares… Read More
PBBM's attendance at WEF an opportunity to lure investments
January 16, 2023, 6:01 pm
MANILA – The participation of President Ferdinand R. Marcos Jr. at the World Economic Forum (WEF) Annual Meeting 2023 gives him the opportunity to attract foreign investors to do business in the Philippines, an economist said. At the Laging Handa public briefing Monday, Michael Batu, an… Read More
T-bill rates up anew
January 16, 2023, 4:57 pm
MANILA – Bureau of the Treasury (BTr) fully awarded the treasury bills (T-bills) across-the-board on Monday despite the rate upticks. Each of the 91-day, 182-day, and 364-day debt papers were offered for PHP5 billion and all posted oversubscriptions. Bids for the three-month paper amounted to… Read More
Gasoline, diesel prices up this week
January 16, 2023, 3:15 pm
MANILA – Oil firms will implement price adjustments on fuel products starting Jan. 17. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP0.95 per liter and PHP0.50 per liter on diesel prices. On the other hand, Caltex,… Read More
Stocks up on risk-on sentiments, peso strengthens
January 13, 2023, 7:57 pm
MANILA – Risk-on sentiments reigned in the local bourse on Friday and allowed the main index to end the week up while the peso climbed to the 54-level. The Philippine Stock Exchange index (PSEi) rose by 1.73 percent, or 118.01 points, to 6,951.54 points. All Shares followed with a jump of 1.38… Read More
BSP's 28-day bill rate declines
January 13, 2023, 5:11 pm
MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day bill remained strong and its rate run contrary to the rise in domestic interest rates. The BSP kept the offer volume for the securities at PH160 billion and bids reached PHP235.58 billion. The debt paper was fully awarded. The… Read More
Oil prices up over fears of weak oil demand in US
January 12, 2023, 8:15 pm
ANKARA – Oil prices slightly rose on Thursday over demand worries after a higher-than-expected increase in oil stockpiles in the United States, the world's largest oil consumer. International benchmark Brent crude traded at $82.75 per barrel at 9:22 a.m. local time (0622GMT), a 0.10 percent… Read More
PSEi recovers, peso slips to 55-level
January 12, 2023, 7:34 pm
MANILA – Expectations for further deceleration of the United States inflation rate in December 2022 lifted the local bourse’s main index on Thursday but the peso slipped to the 55-level after rising to 54-level earlier in the week. After a slip in the past two days, the Philippine Stock… Read More
PH-US trade relations to benefit from USTDA office opening
January 12, 2023, 7:22 pm
MANILA – Large investment opportunities expected to increase trading between the Philippines and the United States have been cited as the reason for the opening of a United States Trade and Development Agency (USTDA) office here within this quarter. “To meet the demands of the Philippine… Read More
Deadline for transfer of registered IT-BPM firms to BOI extended
January 12, 2023, 1:14 pm
MANILA – The Fiscal Incentives Review Board (FIRB) announced that the deadline for the transfer of existing registered business enterprises (RBEs) in the information technology and business process management (IT-BPM) sector to the Board of Investments (BOI) has been extended until Jan. 31 this… Read More
