Business
Fitch Solutions revises 2022 GDP projection for PH
November 11, 2022, 4:41 pm
MANILA – Fitch Solutions Country Risk and Industry Research Friday revised its 2022 gross domestic product (GDP) projection for the Philippines following the higher-than-expected output in the third quarter. Fitch estimated a 7.4 percent output for the domestic economy this year, higher than the… Read More
BSP's accommodative stance helps entice FDIs
November 10, 2022, 7:42 pm
MANILA – An economist remains optimistic about the recovery of foreign direct investments (FDIs) to the Philippines due in part to the accommodative policy stance of the central bank and the passage of more fiscal reform measures. The Bangko Sentral ng Pilipinas (BSP) on Thursday reported a… Read More
Stocks, peso slip despite higher-than-expected Q3 GDP
November 10, 2022, 7:14 pm
MANILA – The higher-than-expected growth of the Philippine economy in the third quarter of 2022 at 7.6 percent failed to boost the local bourse’s main index and the peso on Thursday as investors awaited the release of the United States October 2022 inflation report. The Philippine Stock… Read More
Gov’t vows policies to ensure food security, stable prices
November 10, 2022, 6:52 pm
MANILA – Socioeconomic Planning Secretary Arsenio Balisacan has reiterated that the government’s top priority is food security while guarding Filipinos from faster increases in prices of goods and services due to external risks and impacts of the recent calamities. Filipinos still face the… Read More
Global economic growth seen to slow to 2.4% in 2023: KIEP
November 10, 2022, 6:17 pm
SEJONG – The global economy is expected to grow at a slower than expected clip of 2.4 percent next year, a state-run economic think tank said Thursday, citing the aftermath of aggressive monetary tightening in major economies and lingering geopolitical risks. The growth outlook marks a drop… Read More
Economist eyes GDP breaching gov't target
November 10, 2022, 6:14 pm
MANILA – The higher-than-expected expansion of the domestic economy in the third quarter of 2022, at 7.6 percent year-on-year, provides a boost for a possible breach of the government’s gross domestic product (GDP) assumption for the year. In a report on Thursday, Rizal Commercial Banking… Read More
DOLE-3, other agencies bring gov't programs to MSMEs
November 10, 2022, 5:28 pm
CITY OF SAN FERNANDO, Pampanga – The Department of Labor and Employment-Central Luzon (DOLE-3), together with other government agencies, has brought programs and services closer to micro, small, and medium enterprises (MSMEs) in the region to boost their competitiveness. Through a three-day MSME… Read More
Legazpi to bring business permit processing to remote villages
November 10, 2022, 3:49 pm
LEGAZPI CITY – The processing of business permits will soon become easier as the city government's Business Permits and Licensing Office (BPLO) will put up registration sites in this city’s southern and northern villages next year. Asuncion Calleja, BPLO chief, said in an interview on Thursday… Read More
PH economy grows faster at 7.6% in Q3
November 10, 2022, 12:22 pm
MANILA – The Philippine economy grew at a faster rate in the third quarter of the year at 7.6 percent, higher than the revised gross domestic product (GDP) growth in the second quarter at 7.5 percent, the Philippine Statistics Authority (PSA) reported Thursday. In a press conference, PSA… Read More
Multiformat retailer nets P1.85B in Q3 as economy further reopens
November 9, 2022, 6:58 pm
MANILA — Continued reopening of the economy helped boost Robinsons Retail Holdings’ net income in the third quarter of the year to PHP1.85 billion, up 64 percent year-on-year. In a report to the Philippine Stock Exchange (PSE) on Wednesday, the listed firm said net income attributable to… Read More
PH stock gauge slips anew, peso finishes up at 57-level
November 9, 2022, 6:13 pm
MANILA – The local bourse’s main index shed anew on Wednesday as investors awaited the results of the ongoing midterm elections in the United States but the peso gained against the dollar and even rose to 57-level. The Philippine Stock Exchange index (PSEi) declined by 0.75 percent, or 47.42… Read More
Fitch Solutions eyes growth in PH household spending in 2023
November 9, 2022, 5:07 pm
MANILA — Household spending in the Philippines is expected to get a boost from the projected rise in real income in 2023, a report by Fitch Solutions Country Risk & Industry Research said. In a report dated Nov. 8, a copy of which was sent to journalists on Wednesday, Fitch Solutions said it… Read More
SEC clears Alternergy Holdings IPO
November 9, 2022, 3:17 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) by Alternergy Holdings Corporation for up to PHP1.89 billion. In its Nov. 8 meeting, the commission en banc resolved to render effective the registration statement of Alternergy… Read More
Term deposit facility rates up ahead of MB meeting
November 9, 2022, 2:49 pm
MANILA – Expectations for another jump in the Bangko Sentral ng Pilipinas’ (BSP) key rates this month resulted in another uptick in the central bank’s term deposit facility (TDF) rates. The average rate of the seven-day facility rose to 5.0668 percent from 4.9569 percent during the… Read More
Gov't vows to sustain gains in labor market
November 9, 2022, 8:25 am Updated on November 9, 2022, 5:12 pm
MANILA – The National Economic and Development Authority (NEDA) welcomed the improvements in the country's labor market, as the unemployment rate settled at 5 percent in September, the lowest since the onset of the pandemic. "The recent survey results show the gains of the full reopening of our… Read More
Oil down over demand fears after China boosts strict Covid policy
November 8, 2022, 8:41 pm
ANKARA – Oil prices declined on Tuesday due to looming demand fears after China reaffirmed the continuation of its strict pandemic policy. International benchmark Brent crude traded at USD97.82 per barrel at 10:01 a.m. local time (0701 GMT) for a 0.10 percent decrease from the closing price of… Read More
Data-informed governance of extractive industries crucial: Diokno
November 8, 2022, 8:21 pm
MANILA – Finance Secretary Benjamin Diokno has cited the importance of improving the inclusive and data-informed management of the extractive industries in driving long-term economic expansion as he cited its PHP363-billion contribution to government revenues from 2012 to 2019. “With the… Read More
5-year T-bond rate up
November 8, 2022, 7:45 pm
MANILA – The rate of five-year Treasury bond (T-bond) rose on Tuesday but the auction committee partially awarded the debt paper. The average rate of the securities inched up to 7.131 percent from 5.772 percent previously. The Bureau of the Treasury (BTr) offered the T-bond for PHP35 billion and… Read More
D&L exec eyes 2022 income to exceed record
November 8, 2022, 7:19 pm
MANILA – Food ingredients and plastics manufacturer D&L Industries has registered a 17-percent year-on-year growth in net income as of end-September 2022 to PHP2.5 billion, making its top executive optimistic of surpassing its pre-pandemic 2018 feat. In a virtual briefing on Tuesday, D&L… Read More
Filipino entrepreneurs inspired to venture into water business
November 8, 2022, 7:11 pm
MANILA – Crystal Clear Inc. exhibited its brand to inspire people to begin their entrepreneurial journey during the recent 2022 Franchise Asia Philippines Expo. The three-day event allowed Crystal Clear to encourage and showcase its quality brand to potential entrepreneurs through briefings and… Read More
