Business
MUFG Bank eyes 6.7% growth for PH economy this year
November 16, 2022, 8:39 pm
MANILA – MUFG Bank Ltd. forecasts a 6.7 percent growth for the Philippine economy this year driven by strong domestic consumption and increase in investments. In a virtual briefing on Wednesday, MUFG senior currency analyst for Global Markets Research Jeff Ng said domestic expansion, as… Read More
BPI sets P2B for housing loans for underserved
November 16, 2022, 8:32 pm
MANILA — The Bank of the Philippine Islands (BPI) is allocating an initial PHP2 billion for its housing loan program called MyBahay, targeting lower income individuals or households. In a briefing on Wednesday, BPI Retail Loans head Dennis Fronda said they intend to extend the funding within… Read More
Stocks index, peso slip ahead of BSP policy meeting
November 16, 2022, 8:29 pm
MANILA – Both the Philippine Stock Exchange index (PSEi) and the peso weakened on Wednesday due in part to the slowdown of the United States’ producer price index (PPI) last October and ahead of the policy meeting of the Bangko Sentral ng Pilipinas (BSP). After rallying for several days, the… Read More
53% of German firms in PH in ‘better situation’: survey
November 16, 2022, 5:23 pm
MANILA – A steady increase in the number of German firms here, saying they are in a “better situation” is seen in the latest Fall 2022 AHK World Business Outlook (WBO) Survey of the German-Philippine Chamber of Commerce and Industry (GPCCI). The Fall 2022 survey held last month with 68… Read More
BOI OKs 100% work-from-home IT project
November 16, 2022, 3:13 pm
MANILA – As the government now supports work-from-home arrangements for the information technology and business processing management (IT-BPM) sector, the Board of Investments (BOI) has started to approve projects in the industry with 100 percent work-from-home setup. The BOI reported Wednesday… Read More
PSEi rises as investors in wait-and-see mode, peso nearly flat
November 15, 2022, 7:20 pm
MANILA – The main equities index rallied anew on Tuesday amidst investors' wait-and-see stance regarding the path of Federal Reserve's key rates while the peso finished the day sideways against the United States dollar. The Philippine Stock Exchange index (PSEi) inched up by 1.01 percent, or… Read More
OFW cash remittances up by 3.8% in September
November 15, 2022, 4:52 pm
MANILA – Money sent home by overseas Filipino workers (OFWs) rose by 3.8 percent year-on-year in September 2022 to USD2.84 billion, with the Bangko Sentral ng Pilipinas (BSP) citing robust growth both from land-based and sea-based workers. In the first three quarters of this year, total cash… Read More
BTr fully awards 12-year T-bond amid higher yield
November 15, 2022, 4:09 pm
MANILA – The rate of 12-year Treasury bond (T-bond) auctioned by the Bureau of the Treasury (BTr) on Tuesday surpassed secondary rates but was fully awarded. The average rate of the debt paper stood at 8.168 percent, which National Treasurer Rosalia de Leon said is higher than in the… Read More
Oil prices down on stronger dollar, China Covid surge uncertainty
November 15, 2022, 3:04 pm
ANKARA – Oil prices settled lower Monday on a stronger United States dollar and uncertainty over a sharp rise in coronavirus cases in China over the weekend. US benchmark West Texas Intermediate (WTI) crude futures fell more than 3 percent to below $86 a barrel Monday compared with their daily… Read More
SEC OKs real estate trust IPO
November 15, 2022, 1:14 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) of a real estate investment trust sponsored by S.I. Power Corporation (SIPCOR) and Camotes Island Power Generation Corporation (CAMPCOR). In its Nov. 10 meeting, the commission en… Read More
PEZA, PHILEA upbeat on PH competitiveness in developing ecozones
November 14, 2022, 8:28 pm
MANILA – The Philippine Economic Zone Authority (PEZA) and Philippine Ecozones Associations (PHILEA) are confident of the country’s competitiveness in developing more economic zones as the former hosted on Nov. 9 a consultative meeting on the plans, updates, and key concerns on ecozone… Read More
Adherence to int’l pacts to help resumption of EU-PH FTA talks
November 14, 2022, 7:30 pm
MANILA – It will be easier for the Philippines and the European Union (EU) to resume negotiations for a free trade agreement (FTA) if the country will ensure its adherence to the 27 international conventions, the Head of the Delegation of the EU to the Philippines said Monday. In his keynote… Read More
PH eyes direct imports of unprocessed Cambodian rice paddy
November 14, 2022, 7:27 pm
MANILA – Cambodian businessmen are urged to directly export its rice paddy to the Philippines and process it here to enhance trade and investment between the two Southeast Asian countries, Go Negosyo founder Joey Concepcion said on Monday. Concepcion, who is the chair of the ASEAN Business… Read More
T-bill rates up anew
November 14, 2022, 6:46 pm
MANILA – The rate of Treasury bills (T-bills) rose on Monday, with demand still high for the three- and six-month papers but the one-year paper was undersubscribed. The average rate of the 91-day paper rose to 4.464 percent, the 182-day’s to 4.838 percent, and the 364-day’s to 5.100 percent.… Read More
Peso ends sideways, PSEi rallies on positive earnings reports
November 14, 2022, 6:27 pm
MANILA – Positive corporate earnings reports contributed to another rise of the local bourse’s main index on Monday and this also buoyed the local currency, which finished the day sideways against the United States dollar. The Philippine Stock Exchange index (PSEi) gained by 1.08 percent, or… Read More
Upgraded AANZFTA seen to usher post-pandemic recovery in PH
November 14, 2022, 5:26 pm
MANILA – With the substantial conclusion of negotiations to enhance the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) during the ASEAN Summit in Phnom Penh, Cambodia last week, the Department of Trade and Industry (DTI) is optimistic that the upgraded trade deal will usher… Read More
Moody's Analytics forecasts 75 bps hike in BSP rates this week
November 14, 2022, 5:14 pm
MANILA – Moody’s Analytics forecasts a 75 basis points jump in the Bangko Sentral ng Pilipinas (BSP) key rates this Thursday, in line with the earlier statement by BSP Governor Felipe Medalla. “Bangko Sentral ng Pilipinas is expected to raise the overnight borrowing rate by 75 basis points… Read More
Diesel prices down; gasoline, kerosene to rise Nov. 15
November 14, 2022, 4:01 pm
MANILA – Oil companies will be implementing another round of price adjustments on petroleum prices starting Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP0.90 per liter, and will slash diesel prices by… Read More
APEC Economic Leaders’ Week kicks off in Thailand
November 14, 2022, 1:35 pm
BANGKOK – The Asia-Pacific Economic Cooperation (APEC) Forum Week opens in the Thai capital of Bangkok on Monday. From Nov. 14 to 19, the Queen Sirikit National Convention Center will host meetings of senior APEC officials, ministerial meetings, plenary sessions, exhibitions and a number of… Read More
PH stock index, peso finish week up
November 11, 2022, 7:09 pm
MANILA – The local bourse’s main index recovered on Friday after the slower-than-projected inflation rate in the US in October 2022 and the peso improved towards the 57-level. After several days of decline, the Philippine Stock Exchange index (PSEi) rose by 1.93 percent, or 119.20 points,… Read More
