Business
TDF yields track uptrend in central bank's policy rates
December 21, 2022, 7:58 pm
MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) remained strong although yields again rose on Wednesday. The average rate of the seven-day facility rose to 6.2466 percent from 6.1395 percent during the auction last Dec. 14. The average rate of the… Read More
Oil prices rise on estimated fall in US crude stocks
December 21, 2022, 7:03 pm
ANKARA – Oil prices rose on Wednesday due to an uptick in demand after statistics revealed that US crude stockpiles fell more than anticipated. International benchmark Brent crude traded at USD80.32 per barrel as of 09.46 a.m. local time (0646GMT), up 0.41 percent from the closing price of… Read More
SEC to shift payments online, off-site next year
December 21, 2022, 2:52 pm
MANILA – The Securities and Exchange Commission (SEC) is moving its payment channels online and off-site by Feb. 1, 2023 as it continues to implement a zero face-to-face transaction policy. In a notice, the commission announced that all payments will be accepted only through the Electronic… Read More
Oil up over US strategic petroleum reserve plan, weaker dollar
December 20, 2022, 8:28 pm
ANKARA – Oil prices rose Tuesday over bullish demand outlook following a United States decision to kick off replenishment of its emergency stockpiles and over the falling value of the US dollar, which makes dollar-indexed oil cheaper to buyers. International benchmark Brent crude traded at… Read More
PSEi up on bargain-hunting, peso strengthens
December 20, 2022, 8:24 pm
MANILA – Recession concerns in the United States resulted in bargain hunting in the local bourse on Tuesday that boosted the main index which also benefited the peso. After a slide in recent days, the Philippine Stock Exchange index (PSEi) rose by 0.68 percent, or 43.85 points, to 6,458.12… Read More
Cebu City bullish of dev't via tax reform measure
December 20, 2022, 7:33 pm
CEBU CITY – The city government here is confident of achieving further development similar to that of Singapore through its long-term investment programs and effort to overhaul the 20-year-old real property tax ordinance, an official said on Tuesday. Vice Mayor Raymond Alvin Garcia said the… Read More
Medalla discounts extreme rate hikes in Q1 2023
December 20, 2022, 6:32 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla on Tuesday said hikes in the central bank’s key policy rates are still possible given that inflation remains elevated but discounts extreme increases, citing easing oil prices and the weakening of the United States dollar.… Read More
PEZA investment pledges back to pre-pandemic level
December 20, 2022, 4:10 pm
MANILA – The Philippine Economic Zone Authority (PEZA) reported Tuesday that investment pledges for 2022 are back to pre-pandemic level. In a statement, PEZA said it approved a total of PHP140.7 billion investment pledges this year, more than double from the PHP69.3 billion approvals in 2021.… Read More
Robust domestic demand to thwart recession in PH
December 20, 2022, 7:57 am
MANILA – Elevated inflation and the expected global economic slowdown are seen to hurt economies in 2023 but an economist said domestic demand is seen to buoy the domestic economy and cushion the impact of external risks. In a virtual briefing on Monday, Manulife Investment Management Global… Read More
EO on dividend relief for DBP not linked to Maharlika fund: DOF
December 20, 2022, 7:53 am
MANILA – Finance Secretary Benjamin Diokno discounted any link between the dividend relief for state-owned Development Bank of the Philippines (DBP) and the financial institution's possible placements in the proposed Maharlika Investment Fund (MIF). This, after House Deputy Minority Leader… Read More
PH seen to exceed GDP target for 2022: NEDA
December 19, 2022, 7:29 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the country’s gross domestic product (GDP) for 2022 is expected to surpass the government target, supported by a robust fourth quarter economic performance. “The first three quarters, we are already… Read More
Recession worries trigger another PH equities index sli
December 19, 2022, 7:20 pm
MANILA – Recession concerns continue to dampen investors' sentiment resulting to another negative close for the local bourse’s main index Monday, but the peso strengthened against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.27 percent, or 82.23 points, to 6,414.27 points.… Read More
‘Big-time’ price hikes on diesel, kerosene before Christmas
December 19, 2022, 6:47 pm
MANILA – Less than a week before Christmas Day, oil companies will implement big-time price hikes on diesel and kerosene products and will also increase gasoline prices starting 12:01 a.m. Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix Petroleum, PTT Philippines,… Read More
PH dev’t plan 2023-2028 to focus on ‘transformation agenda’
December 19, 2022, 6:44 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the medium-term Philippine Development Plan (PDP) 2023-2028 that President Ferdinand R. Marcos Jr. has approved will focus on "transformation agenda." In a briefing Monday, Balisacan said the new PDP… Read More
BSP's 28-day securities rate tracks path of policy rate
December 16, 2022, 7:16 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose anew on Friday, a day after the central bank’s key policy rates have been hiked by 50 basis points as inflation is seen to remain elevated. Average rate of the debt paper rose to 6.4234 percent from last week’s… Read More
PH equities index slip, peso gains vs. US dollar
December 16, 2022, 6:45 pm
MANILA – Weaker retail sales report from the US sustained the decline of the local bourse’s main index on Friday but the peso appreciated against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.07 percent, or 70.3 points, to 6,496.50 points. All Shares followed with a drop of… Read More
Biz, consumer sentiments weaken further in Q4 '22
December 16, 2022, 6:40 pm
MANILA – Elevated inflation and peso depreciation, among others, dampened sentiments of both the consumers and businesses in the last quarter of 2022. In a briefing on Friday, Senior Director Redentor Paolo Alegre Jr., of the Bangko Sentral ng Pilipinas (BSP) Department of Economic Statistics… Read More
PH to lure RE technology, investments from Europe
December 16, 2022, 6:28 pm
MANILA – Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said the country targets to attract investments from Europe for technology transfer and development of the renewable energy sector here. In a virtual press briefing Friday, Rodolfo said European companies have… Read More
Unilever eyes PH as global hub for sustainability: DTI
December 16, 2022, 5:04 pm
MANILA – With the fresh commitment of Unilever to invest PHP4.7 billion in the Philippines during the visit of President Ferdinand R. Marcos Jr. to Brussels, the multinational consumer goods manufacturer aims to make the country its global hub for sustainability. In a virtual press briefing… Read More
DBP net income in first 9 months soars to P5.35B
December 16, 2022, 2:01 pm Updated on December 16, 2022, 2:16 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has posted a net income of PHP5.35 billion in the first nine months of 2022, showing significant growth of 177 percent from the PHP1.93 billion recorded during the same period last year as the Bank intensified its lending activities… Read More
