Business
Oil firms to implement this year’s first price rollback Tuesday
January 9, 2023, 5:46 pm
MANILA – Oil firms will implement this year’s first price rollback on Tuesday. In separate advisories, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil and Shell said they will reduce diesel prices by PHP2.80 per liter and PHP0.75 per liter on gasoline. Seaoil and Shell they will also cut… Read More
World in transition to new economic order amid multiple crises
January 9, 2023, 5:43 pm
LONDON – The right word to describe the current period of multiple convergent crises surrounding the global economy is a “transition” and action by central banks in tandem with the resilience of labor markets and the re-balancing of supply chains will be among the factors deciding what kind… Read More
T-bill rates up anew, BTr partially awards 1-year tenor
January 9, 2023, 4:34 pm
MANILA – The average rate of Treasury bills (T-bills) rose across the board on Monday, sustaining its path on expectations of continued hikes in the central bank’s key rates following another acceleration in domestic inflation rate. The average rate of the 91-day paper rose to 4.232 percent,… Read More
DOE names 9 Chinese firms with $13.7-B investment pledges
January 9, 2023, 4:19 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla has named the nine Chinese companies that committed to invest some USD13.76 billion in the Philippines following the recent visit of President Ferdinand R. Marcos Jr. to China. In a press conference Monday, Lotilla said some of these… Read More
PH taps foreign fund sources for 2nd time under Marcos admin
January 9, 2023, 2:53 pm
MANILA – The Philippine government on Monday announced its benchmark offering for a multi-year United States dollar-denominated Republic of the Philippine (ROP) bond, the second under the administration of President Ferdinand Marcos Jr. Data released to journalists showed that proceeds of the… Read More
BSP’s 28-day securities rate up again
January 6, 2023, 7:43 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills rose anew on Friday as yield continued to track the path of the central bank’s key policy rates. The average rate of the securities inched up to 6.4539 percent from 6.4426 percent during the auction last Dec. 23. The… Read More
PSEi slips for first time in 2023 on profit-taking, peso up
January 6, 2023, 6:37 pm
MANILA – Profit-taking snapped the three-day winning streak of the Philippine Stock Exchange index’s (PSEi) on Friday but the peso gained against the greenback. The main equities index shed by 1.38 percent, or 93.36 points, to 6,667.97 points. All Shares trailed with a decline of 1.05 percent,… Read More
More investments to sustain gains in employment condition: ECOP
January 6, 2023, 5:05 pm
MANILA – Following the decline in unemployment rate in December 2022, a business group believes that the downtrend in joblessness can be sustained by attracting more investments into the country. During the Laging Handa public briefing Friday, Employers Confederation of the Philippines (ECOP)… Read More
PH manufacturing posts growth in November
January 6, 2023, 4:54 pm
MANILA – Volume and value indices of the domestic manufacturing sector continued to post growth in November 2022, the Philippine Statistics Authority’s (PSA) Monthly Integrated Survey of Selected Industries (MISSI) reported Friday. Volume of production index (VoPi) in November last year… Read More
November 2022 unemployment rate lowest in 17 years
January 6, 2023, 2:40 pm
MANILA – The Philippines has recorded the lowest unemployment rate in 17 years in November 2022, the Philippine Statistics Authority (PSA) reported Friday. Unemployment rate in November last year declined to 4.2 percent from 4.5 percent in October 2022, and from 6.5 percent in November 2021.… Read More
BOC-Cebu reports P5-B surplus in 2022 duties, tax collection
January 5, 2023, 8:15 pm
CEBU CITY – The Bureau of Customs–Port of Cebu on Thursday reported a PHP5-billion surplus collection for 2022. BOC-Cebu Collector Elvira Cruz said the district port collected a total of PHP42.8 billion as against the target of PHP37.8 billion, which shows a 13-percent surplus. Cruz said based… Read More
Oil prices up with weak dollar
January 5, 2023, 8:08 pm
ANKARA – Oil prices rose on Thursday with the weaker dollar while fears of weak demand caused by a global economic slowdown capped further price gains. International benchmark Brent crude traded at $78.80 per barrel at 9:44 a.m. local time (0644GMT), up 1.23 percent from the closing price of… Read More
Stocks, peso gain on economic data releases
January 5, 2023, 7:18 pm
MANILA – The local bourse’s main index continued its trek on Thursday amidst indications for the sustained tightening moves by the Federal Reserve while the peso appreciated against the greenback. The Philippine Stock Exchange index (PSEi) gained by 0.64 percent, or 42.83 points, to 6,761.33… Read More
PH dev’t plan outlines measures to address inflation: NEDA
January 5, 2023, 7:15 pm
MANILA – As inflation rose in December 2022, the National Economic and Development Authority (NEDA) said the Philippine Development Plan (PDP) 2023-2028 outlines measures for the government to pursue to address faster rate of price increases. Following the report of the Philippine Statistics… Read More
HSBC eyes 4.4% growth for PH economy in 2023
January 5, 2023, 5:57 pm
MANILA – Hikes in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates are expected to dampen the strong domestic output for 2023, with an executive of HSBC forecasting a 4.4 percent expansion this year. In a virtual briefing on Thursday, HSBC chief investment officer for Southeast Asia,… Read More
PH, China sign MOU on e-commerce
January 5, 2023, 5:11 pm
MANILA – The Department of Trade and Industry (DTI) said Thursday the Philippines and China signed a memorandum of understanding (MOU) on electronic commerce to strengthen cooperation in this sector. During the state visit of President Ferdinand R. Marcos Jr. to China this week, DTI Secretary… Read More
Marcos bags $23-B investment pledges in Beijing trip
January 5, 2023, 3:48 pm
MANILA – The state visit of President Ferdinand R. Marcos Jr. in Beijing, China has resulted in investment pledges of USD22.8 billion from Chinese companies. Malacañan Palace said Thursday President Marcos had a roundtable discussion with Chinese chief executive officers (CEOs) from various… Read More
PH inflation may have peaked in December: BSP
January 5, 2023, 3:36 pm
MANILA – The acceleration of the domestic rate of price increases to 8.1 percent in December 2022 is in line with the forecast that inflation could peak last month as risks remain on the upside, the Bangko Sentral ng Pilipinas (BSP) said Thursday. The Philippine Statistics Authority (PSA) said… Read More
PH 2022 inflation within gov’t target
January 5, 2023, 12:25 pm
MANILA – The country’s average inflation in 2022 is still within the Development Budget Coordination Committee’s target of 5.8 percent despite the faster pace in price increases in December. In a press briefing Thursday, Philippine Statistics Authority (PSA) Undersecretary Dennis Mapa… Read More
PH infra program gets boost from bilateral deals with China
January 5, 2023, 11:10 am
MANILA – The infrastructure program of the administration of President Ferdinand R. Marcos Jr. got a boost following the signing of six bilateral agreements and one project implementation between the Philippines and China on Wednesday.Finance Secretary Benjamin Diokno, who signed the agreements… Read More
