Business
PEZA wants to rationalize ecozone development requirements
November 25, 2022, 7:15 pm
MANILA – The Philippine Economic Zone Authority (PEZA) wants a rationalization of requirements for economic zone development since it is the only investment promotion agency (IPA) that needs Presidential proclamation for new ecozone projects, its officer-in-charge Tereso Panga said Friday. "We… Read More
Fintech eyes 20% share in remittance servicing from US
November 24, 2022, 8:25 pm
MANILA – A financial technology firm targets to increase its share in servicing remittances of Filipinos in the United States to as much as 20 percent within three years, following a tie-up with Sy-led BDO Unibank and after getting additional seed capital. “Our goal is to go up 20 percent of… Read More
BOC-Port of Clark exceeds November collection target
November 24, 2022, 8:16 pm
CITY OF SAN FERNANDO, Pampanga – The Bureau of Customs-Port of Clark has surpassed its collection target for 11 straight months. A report from the Collection Division showed that BOC-Port of Clark exceeded its target with a collection of PHP281.10 million as early as Nov. 22 as against its goal… Read More
More US shoppers expected on Thanksgiving amid soaring inflation
November 24, 2022, 8:13 pm
ANKARA – A record number of Americans are expected to shop during the Thanksgiving weekend despite the cost of a holiday dinner is up 20 percent from last year due to soaring inflation. An estimated 166.3 million people are planning to shop from Thanksgiving Day through Cyber Monday, according… Read More
Positive sentiments lift stocks index, peso
November 24, 2022, 7:35 pm
MANILA – Indications for smaller hikes in the Federal Reserve’s key rates sustained the rise in the local bourse’s main index on Thursday, a performance mirrored by the peso. The Philippine Stock Exchange index (PSEi) gained by 0.31 percent, or 20.19 points, to 6,530.51 points. All Shares… Read More
Oil prices dip as impending G7 price cap eases tight supply fears
November 24, 2022, 7:06 pm
ANKARA – Oil prices decreased on Thursday influenced by the impending price cap on Russian crude by G7 countries, easing tight supply fears. International benchmark Brent crude traded at $84.79 per barrel at 10:04 a.m. local time (0704 GMT), a 0.73 percent decrease from the closing price of… Read More
NEDA Board OKs new project, amends 5 ongoing projects
November 24, 2022, 7:04 pm
MANILA – The National Economic and Development Authority (NEDA) Board has approved a new project and amended five ongoing projects during its first meeting under the Marcos administration. In a Palace briefing, NEDA Secretary Arsenio Balisacan said the NEDA Board, chaired by President Ferdinand… Read More
Survey shows increased importance of IT units on businesses
November 24, 2022, 5:10 pm
MANILA – The government’s digitalization push, along with corporates’ goal to improve their operations which were further boosted by the remote working set-up when the pandemic hit, has increased the importance of information technology (IT) units. This is among the findings of the study by… Read More
Marcos to sign EO slashing EVs, parts tariffs soon: NEDA chief
November 24, 2022, 5:05 pm
MANILA – President Ferdinand R. Marcos Jr. is expected to sign an executive order (EO) that will cut tariff rates on imported electric vehicles (EV) and EV parts and components soon, Socioeconomic Planning Secretary Arsenio Balisacan said. In a Palace briefing Thursday, Balisacan said the… Read More
Global economic growth to slow to 2.2% in 2023: OECD
November 23, 2022, 7:53 pm
PARIS -- Global gross domestic product (GDP) growth is projected to slide from 3.1 percent this year to 2.2 percent in 2023, the Organization for Economic Co-operation and Development (OECD) said in its latest Economic Outlook on Tuesday. The 2022 figure is around half the pace recorded in 2021… Read More
BSP’s TDF rates up anew
November 23, 2022, 7:49 pm
MANILA – Higher rates and undersubscriptions were registered during the auction for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) on Wednesday. The rate of the six-day TDF rose to 5.4921 percent and the 14-day’s to 5.6635 percent. These were at 5.2787 percent for the… Read More
PSEi up on risk-on sentiments; peso strengthens to 56-level
November 23, 2022, 7:46 pm
MANILA – Risk-on sentiments reigned in the local bourse on Wednesday while the peso improved to the 56-level against the United States dollar as investors awaited the release of the minutes of the Federal Open Market Committee's (FOMC) meeting earlier this month. The Philippine Stock Exchange… Read More
E-vehicle boom opens new opportunities for PH mining
November 23, 2022, 6:44 pm
MANILA – Developing the electric vehicle (EV) industry is opening new opportunities for the Philippine mining sector, a company executive said Wednesday. In a media roundtable, DMCI Mining president Tulsi Das Reyes said the e-vehicle sector has provided new opportunities for the mining… Read More
Better financial mgm’t skills developed during pandemic
November 23, 2022, 6:38 pm
MANILA – Budgeting, either for an individual or a family, is a goal but the necessity to really be serious about it rose when the pandemic hit since many people lost their income sources. Aaron Villegas, co-founder of Filipino-owned financial management app Lista, said they have already reached… Read More
Life science firm eyes increased footprint in PH
November 23, 2022, 4:38 pm
MANILA – Life science firm Bayer is optimistic about increasing its footprint in the Philippines as it inaugurated its PHP750-million integrated office in Taguig City. On Wednesday, Bayer launched its new office at Science Hub Tower 1 in Bonifacio Global City (BGC), Taguig City, bringing… Read More
163 IT-BPM firms transferring registration from PEZA to BOI
November 23, 2022, 1:34 pm
MANILA – To implement a 100-percent work-from-home arrangement, some 163 information technology and business process management (IT-BPM) companies initially registered with the Philippine Economic Zone Authority (PEZA) are transferring their registration to the Board of Investments (BOI). The… Read More
Megaworld invests P2B for dev’t of own hotel brand in Bacolod
November 23, 2022, 11:56 am
BACOLOD CITY – As part of its PHP28 billion 10-year development project in The Upper East township in this city, Megaworld Corp. will invest PHP2 billion to build Kingsford Hotel Bacolod, the property giant’s hotel brand, in the next five years. “We are finally bringing the Kingsford Hotel… Read More
IaaS firm eyes PH expansion as use of cloud technology rises
November 22, 2022, 8:39 pm
MANILA – The wide-scale adoption of cloud technology in the Philippines made an Infrastructure as a Service (IaaS) firm optimistic of a strong expansion in its domestic operations. In a briefing on Tuesday, Alibaba Cloud Intelligence, the digital technology and intelligence backbone of… Read More
PH stocks index up but peso slightly slips
November 22, 2022, 6:42 pm
MANILA – The Philippines main equities index recovered on Tuesday amid concerns on the global growth, but the peso weakened against the greenback. The Philippine Stock Exchange index gained 0.41 percent, or 26.41 points, to 6,429.65 points. All Shares followed with a jump of 0.12 percent, or… Read More
BTr partially awards 20-year T-bonds
November 22, 2022, 6:20 pm
MANILA – The Bureau of the Treasury (BTr) partially awarded on Tuesday the fresh issuance of 20-year treasury bonds (T-bonds). The debt paper was offered for PHP35 billion and tenders reached PHP70.361 billion. However, the auction committee awarded PHP27.597 billion. It fetched a coupon rate of… Read More
