Business
PSEi ends flat ahead of US inflation data, peso strengthens
November 8, 2022, 6:44 pm
MANILA – The local bourse’s main index ended Tuesday sideways ahead of the release of United States October 2022 inflation report and results of the midterm elections but the peso gained to a US dollar. The Philippine Stock Exchange index (PSEi) declined slightly by 0.10 percent, or 6.48… Read More
Central Luzon posts record-high 8.4% inflation rate in October
November 8, 2022, 5:56 pm
CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon has accelerated to 8.4 percent in October from 7.1 percent in September 2022, based on the latest report of the Philippine Statistics Authority-Regional Statistical Services Office (PSA-RSSO) III. This is the highest inflation… Read More
PEZA bags P3.88-B investment pledges from Taiwan mission
November 8, 2022, 3:54 pm
MANILA – The Philippine Economic Zone Authority (PEZA) said it has secured investment pledges from its recent investment mission in Taiwan amounting to USD65 million or around PHP3.88 billion. In a statement Tuesday, PEZA said these investment commitments came from seven Taiwanese firms,… Read More
SEC revokes Astrazion’s corporate registration
November 8, 2022, 3:51 pm
MANILA – The Securities and Exchange Commission (SEC) has canceled the corporate registration of Astrazion Noble Task Community Foundation and Astrazion Global Holdings Philippines, Inc. for soliciting investments from public without the requisite license and through a fraudulent scheme. In an… Read More
Gov’t committed to improving quality of employment
November 8, 2022, 3:48 pm
MANILA – The Philippine labor market sustained its positive momentum with unemployment rate dropping to new record-low since the onset of the pandemic, while the government remains committed to improving the quality of employment to address underemployment in the country, according to the… Read More
PH logs lowest unemployment rate since Covid-19 onset
November 8, 2022, 12:28 pm
MANILA – Unemployment rate in September 2022 stood at 5 percent, the lowest in more than two years, the Philippine Statistics Authority (PSA) reported Tuesday. In a press conference, PSA chief and national statistician Undersecretary Dennis Mapa said the number of unemployed Filipinos in… Read More
GSIS chief eyes high dividends on ACEN investment
November 8, 2022, 11:50 am
MANILA – Government Service Insurance System (GSIS) president and chief executive officer Wick Veloso is confident that the state pension fund's investment in ACEN's Energy Transition Mechanism (ETM) will yield high dividends. Veloso said on Monday that the partnership with Ayala-led ACEN will… Read More
Oil prices decline as China maintains zero-Covid policy
November 7, 2022, 8:26 pm
ANKARA – Oil prices fell on Monday as a result of Chinese health officials' statements about the country's intention to maintain its zero-Covid policy, fueling demand concerns from the world's largest oil importer. International benchmark Brent crude traded at $97.57 per barrel at 09:24 a.m.… Read More
Bank launches unified QR link to help small firms
November 7, 2022, 7:23 pm
MANILA – Asia United Bank (AUB) launched on Monday its Unified Card QR Link, which allows the bank’s PayMate users to accept Mastercard and Visa payments using only one quick response (QR) code which is expected to be a big boost to micro and small businesses. In a virtual briefing, AUB senior… Read More
PH stocks up, peso sideways ahead of economic report releases
November 7, 2022, 6:08 pm
MANILA – The local stock barometer started the week’s trading up ahead of some economic releases from the United States while the peso finished the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) gained by 1.78 percent, or 110.05 points, to 6,295.58 points. All… Read More
Big-time hike on gasoline, minimal rollback for diesel, kerosene
November 7, 2022, 5:00 pm
MANILA – Oil companies will implement price adjustments on petroleum products starting Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix, Seaoil, Shell, and Unioil said they will increase gasoline prices by PHP1.40 per liter and will decrease diesel prices by PHP0.50… Read More
BTr partially awards T-bills
November 7, 2022, 4:21 pm
MANILA – The rate of Treasury bills (T-bills) rose on Monday but the auction committee partially awarded the debt papers across-the-board. The average rate of the 91-day securities rose to 4.350 percent, the 182-day’s to 4.800 percent, and the 364-day’s to 5.000 percent. These were at 4.220… Read More
Trade deficit in September narrows to USD4.8-B
November 4, 2022, 9:10 pm Updated on November 4, 2022, 9:13 pm
MANILA – The Philippine Statistics Authority (PSA) on Friday reported that the country’s trade deficit in September this year has slowed down to USD4.82 billion from USD6.02 billion in August. This developed as the country exported more in September and imported less in the same month compared… Read More
BSP's 28-day bill rate up anew
November 4, 2022, 8:08 pm Updated on November 4, 2022, 8:14 pm
MANILA – The average rate of the Bangko Sentral ng Pilipinas' (BSP) 28-day securities rose again on Friday but demand remained strong. Data released by the central bank showed that the average rate of the securities inched up to 5.4328 percent from 5.2174 percent during the auction on October… Read More
Metrobank posts 45% jump in Q3 net income
November 4, 2022, 5:30 pm Updated on November 4, 2022, 5:33 pm
MANILA – Growth in loans and interest income boosted Metropolitan Bank & Trust Company’s (Metrobank) net income in the third quarter of 2022 to PHP23.4 billion, up 45 percent year on year. The bank said Thursday its earnings from July to September rose by 77 percent annually to PHP7.8 billion.… Read More
Inflation likely to decelerate in 2023: BSP
November 4, 2022, 4:19 pm Updated on November 4, 2022, 4:19 pm
MANILA – The Bangko Sentral ng Pilipinas on Friday said the elevated inflation rate has seen to persist towards the end of the year due to upside risks but will likely decelerate in 2023. “Inflation is projected to remain elevated for the rest of 2022 but will likely decelerate in 2023 due to… Read More
October inflation climbs to 7.7%
November 4, 2022, 2:39 pm
MANILA – The country’s inflation rate further increased to 7.7 percent in October, almost a 1 percent jump from 6.9 recorded in September, the Philippine Statistics Authority (PSA) said Friday. It was the highest inflation rate since December 2008. The PSA, however, said the rate of price… Read More
New fiscal measures vs. rise in debt needed: economist
November 3, 2022, 8:46 pm
MANILA — New fiscal reform measures are needed to help address the rise in government liabilities, the recent of which are mostly due to pandemic-related financing, an economist said. On Thursday, the Bureau of the Treasury (BTr) reported the rise in the national government’s outstanding debt… Read More
PH stocks index, peso weaken after fresh Fed rate hike
November 3, 2022, 7:35 pm
MANILA – Another 75 percent rise in the Federal Reserve’s key rates and indications for more rate hikes in the coming months weakened both the local bourse’s main index and the peso on Thursday. The Philippine Stock Exchange index (PSEi) shed by 0.81 percent, or 50.13 points, to 6,156.11… Read More
US Fed implements 4th consecutive 0.75-point hike
November 3, 2022, 6:21 pm
WASHINGTON – The United States Federal Reserve on Wednesday implemented the fourth consecutive three-quarter point interest rate hike amid the worst inflation in four decades. The Fed raised its short-term borrowing rate by 0.75 percentage point to the highest level since January 2008. The… Read More
