Business
Inflation risks seen to be balanced by 2024: BSP
December 6, 2022, 3:50 pm
MANILA – The hike of domestic inflation rate last November to 8 percent from 7.7 percent in the previous month is within the Bangko Sentral ng Pilipinas’ (BSP) expectations, and it sees risks to be balanced only by 2024 after decelerating in the coming months. “Inflation is projected to… Read More
PH inflation rises to 8% in November
December 6, 2022, 10:43 am
MANILA – Faster increase in prices of goods and services was reported anew in November this year, as the inflation rate rose to 8 percent from 7.7 percent in October 2022. Philippine Statistics Authority (PSA) deputy national statistician Divina Gracia del Prado reported in a press briefing… Read More
NegOr biz chamber urges creative artists to register with SEC
December 5, 2022, 7:39 pm
DUMAGUETE CITY – The head of the Negros Oriental Chamber of Commerce and Industry (NOCCI) on Monday urged creative content artists to formally organize themselves and register their businesses or groups for better mileage and other opportunities. Edward Du, NOCCI president, said many of these… Read More
PH economic managers cut '23 growth assumption
December 5, 2022, 7:29 pm
MANILA – Economic managers on Monday slashed the government’s 2023 growth assumption from 6.5-8 percent to 6-7 percent after considering the impact of external developments on the domestic economy. At a briefing, Budget and Management Secretary and chair of the inter-agency Development Budget… Read More
Diokno eyes sovereign wealth fund institution by mid-'23
December 5, 2022, 7:17 pm
MANILA – Finance Secretary Benjamin Diokno is looking at the approval of the proposed sovereign wealth fund (SWF) by mid-2023, and cited long term gains that will benefit the economy. In an interview by journalists after the economic managers’ meeting on Monday, Diokno discounted the approval… Read More
Fuel prices down for 3 straight weeks
December 5, 2022, 3:00 pm
MANILA – Oil firms will implement another big-time price rollback on Dec. 6, bringing domestic fuel prices down for three consecutive weeks. Starting 12:01 a.m. Tuesday, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell will slash gasoline prices by PHP1.95 per liter and PHP1.90… Read More
Property developer to ramp up residential projects next year
December 4, 2022, 4:15 pm
MANILA – Homebuilder and integrated property developer Vista Land & Lifescapes Inc. will ramp up the launch of residential projects in 2023 to help curb the rising housing backlog as the situation improves with the reopening of the economy. Vista Land chairman Manuel Villar Jr. told reporters on… Read More
Hồ Chí Minh City eyed as Southeast Asia’s economic hub by 2030
December 3, 2022, 4:02 pm
HÀ NỘI – The Politburo on Friday issued a resolution setting a goal that tasks Hanoi to lead the country in digitalization and to become the economic hub of Southeast Asia by 2030. At the meeting chaired by Party General Secretary Nguyễn Phú Trọng, the Politburo reviewed the… Read More
G7, Australia agree on $60 price cap for Russian oil per barrel
December 3, 2022, 12:40 pm
WASHINGTON – Members of the Group of Seven (G7) and Australia have agreed to set the price cap on Russian oil at the level of $60 per barrel, the countries said in a joint statement. "The G7 and Australia, as current members of the Price Cap Coalition, on 2 December 2022 reached consensus on a… Read More
PH peso climbs to P55-level, but stocks index slips anew
December 2, 2022, 6:37 pm
MANILA – The Philippine peso ended the week better against the US dollar after climbing to the PHP55-level, but the main equities index shed anew as investors continue to take profit following last week’s rally. The local currency ended the trading at PHP55.71 a dollar from PHP 56.1 on… Read More
BSP 28-day bill rate up anew
December 2, 2022, 5:42 pm
MANILA — Rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bill rose anew on Friday, but the debt paper still attracted large volume of bids this week. Average rate of the debt paper rose to 6.1740 percent from 6.0031 percent during the auction last November 25. BSP kept the offer volume… Read More
C. Luzon SMEs get boost via innovation confab
December 1, 2022, 7:59 pm
CITY OF SAN FERNANDO, Pampanga – Small and medium enterprises (SMEs) in Central Luzon have been given a big boost in upgrading their businesses through collaborative innovations. Through the 2022 THRIVE Central Luzon Innovation Summit, the Department of Science and Technology (DOST) and… Read More
BIR exceeds October target by 1.48%
December 1, 2022, 7:38 pm
MANILA — Bureau of Internal Revenue (BIR) on Thursday said it surpassed its October 2022 collection goal by 1.48 percent as revenues hit PHP186.759 billion. In a statement, the agency, which is tasked to collect around 70 percent of government revenues, said its revised goal for the 10th month… Read More
NegOr MSMEs urged to adopt digital biz strategies
December 1, 2022, 6:32 pm
DUMAGUETE CITY – The Department of Trade and Industry (DTI) in Negros Oriental on Thursday called on micro, small, and medium enterprises (MSMEs) in the province to adapt to the new trend of doing business through digital platforms. “This is the way to go now, and we don’t want to see our… Read More
PH manufacturing posts uptick in Nov. performance
December 1, 2022, 5:38 pm
MANILA – The country’s manufacturing sector has logged an uptick in its November performance, the S&P Global manufacturing purchasing managers index (PMI) reported Thursday. The records showed the manufacturing PMI improved to 52.7 from last month’s 52.6. An index above 50 signals… Read More
Economist eyes sustained mid-single digit M3 growth
December 1, 2022, 4:57 pm
MANILA – Growth of domestic liquidity or M3 is projected to remain in the mid-single digits in the near term, an economist said Thursday, noting excess liquidity in the system that is being siphoned off through the various central bank facilities, among others. Rizal Commercial Banking… Read More
LPG prices up ahead of holiday season
December 1, 2022, 10:12 am
MANILA – Consumers would have to pay more as prices of liquefied petroleum gas (LPG) increased effective Thursday morning, ahead of the Christmas holidays. In separate statements, Petron and Phoenix LPG said they hiked LPG prices by PHP2.25 per kilogram, while Solane-branded LPG increased prices… Read More
Gov't 2023 growth target still feasible amid rate upticks
November 30, 2022, 7:39 pm
MANILA – Hikes in interest rates are not expected to greatly dampen the domestic economy’s 2023 growth, with Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla citing pent up demand and recovery of tourism as drivers of growth. “I would say that the DBCC (Development Budget… Read More
Bank lending, M3 growth seen as economy reopens, recovers
November 30, 2022, 6:47 pm
MANILA – An economist forecasts the rise of loans extended by banks to be sustained as the economy reopens, which can also boost domestic expansion amid the projected hikes in central banks’ policy rates. Data released by the Bangko Sentral ng Pilipinas (BSP) Tuesday night showed a 13.9… Read More
BSP eyes November inflation at 7.4% to 8.2%
November 30, 2022, 8:39 am
MANILA – Higher prices of electricity, liquified petroleum gas (LPG), and some agricultural items, with the latter due to the impact of Severe Tropical Storm Paeng, are seen to push the domestic inflation rate to a range of between 7.4 percent and 8.2 percent for November 2022. In a statement… Read More
