Business
Transparent key rate path direction benefits peso, inflation
November 3, 2022, 4:49 pm
MANILA – Stability of the Philippine peso, along with the actual inflation and inflation expectations, are expected to remain given the transparency by monetary authorities vis-à-vis their rate hike moves. After the two-day meeting of its Federal Open Market Committee (FOMC) on Nov. 2, the… Read More
Alternergy partners with Exeter for hydro project
November 3, 2022, 4:44 pm
MANILA – Renewable energy firm Alternergy is partnering with Exeter Portofino Holdings for the former’s run-of-river hydropower project in Lamut and Asipulo in Ifugao. In a statement Thursday, Alternergy said it signed an investment framework agreement with Exeter as co-partner for the… Read More
SMC power unit eyes battery storage project sites for forestation
November 3, 2022, 4:41 pm
MANILA – Bolstering its climate action initiatives, San Miguel Corporation (SMC) power subsidiary SMC Global Power Holdings Corp. (SMCGP) reported the successful planting and growing of over five million new trees and mangroves from 2019 to date under its multi-year, nationwide forestation and… Read More
BSP to follow Fed’s 75 bps hike this month
November 3, 2022, 1:25 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is set to increase its key rates by 75 basis points on Nov. 17 to ensure interest rate differential following the same decision by the Federal Reserve on its own rates on Thursday. In a Viber message to reporters, BSP Governor Felipe Medalla said… Read More
PSEi starts shortened trading week higher, peso down
November 2, 2022, 7:07 pm
MANILA – The local stock barometer started the shortened trading week higher ahead of the announcement of the Federal Reserve’s rate decision but the peso weakened to a United States dollar. The Philippine Stock Exchange index (PSEi) jumped by 0.86 percent, or 52.81 points, to 6,206.24… Read More
BTr rejects bids for T-bills, 3-year T-bond
November 2, 2022, 6:21 pm
MANILA – Expectations for additional hikes in the Federal Reserve's key rates made investors demand for higher yields for government securities, resulting in full rejection of all the bids during an auction on Wednesday. Had the Bureau of the Treasury (BTr) fully accepted tenders for the… Read More
BSP term deposit facility rates rise anew
November 2, 2022, 6:10 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) inched up anew on Wednesday and the facility attracted lower bids, thus the partial awards. Central bank data showed that the average rate of the seven-day facility rose to 4.9569 percent and the… Read More
Supply of basic goods in Paeng-stricken areas stable
November 2, 2022, 5:38 pm
MANILA – The Department of Trade and Industry (DTI) said supply of basic commodities in areas hit by Severe Tropical Storm Paeng remains stable. In a statement Wednesday, DTI Secretary Alfredo Pascual said the agency is closely coordinating with manufacturers and retailers of basic necessities… Read More
Focus on Fed's guidance, scaling back future rate hikes: Expert
November 2, 2022, 5:35 pm
ANKARA – All focus is on the Federal Reserve's two-day key meeting that will be concluded Wednesday. Investors await to see if the central bank will signal to take its foot off the throttle on future rate hikes. "The key will be what if any guidance policymakers will provide in the Federal… Read More
Power in Meralco franchise areas fully restored
November 2, 2022, 3:49 pm
MANILA – The Manila Electric Company (Meralco) reported it has fully restored power in its franchise areas Wednesday morning following the onslaught of Severe Tropical Storm (STS) Paeng last weekend. “As of 1100H on 02 November 2022, Meralco has restored all affected facilities by STS Paeng… Read More
PH factories continue to improve in October
November 2, 2022, 3:41 pm
MANILA – The condition of the domestic manufacturing sector improved in October 2022, according to the S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) report on Wednesday. S&P Global recorded a softer growth for Philippine factories last month at 52.6 from 52.9 in… Read More
BSP defaces 519.93MT unfit, mutilated coins
November 2, 2022, 2:15 pm
MANILA — Around 519.93 metric tons of unfit, demonetized, mutilated, and counterfeit coins have been defaced from October 2021 until September 2022, the Bangko Sentral ng Pilipinas (BSP) said Wednesday. The BSP said the process was done by altering the surfaces of the coins using a machine… Read More
Planned BSP-Fed repo deal to boost PH’s forex reserves: economist
November 1, 2022, 6:28 pm
MANILA — The country’s United States dollar reserves are expected to get a boost from the planned repurchase agreement between the Bangko Sentral ng Pilipinas (BSP) and the Federal Reserve. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort told the Philippine News… Read More
Moody’s Analytics eyes PH October inflation at 7.4%
October 31, 2022, 6:47 pm
MANILA — Moody’s Analytics forecasts the country’s inflation rate to accelerate to 7.4 percent this October, faster than the previous month’s 6.9 percent. The inflation forecast is included in its economic preview for the week covering Oct. 31 to Nov. 4. In a reply to questions from the… Read More
DTI closely monitoring price freeze in state of calamity areas
October 31, 2022, 6:18 pm
MANILA – The Department of Trade and Industry (DTI) is reminding business establishments in areas declared under state of calamity following the onslaught of Severe Tropical Storm Paeng that there should be no increases in prices of basic necessities. Under the Republic Act 7581, or the Price… Read More
Oil firms set to implement another minimal rollback Tuesday
October 31, 2022, 5:01 pm
MANILA — Oil firms will implement price rollback on petroleum products by less than PHP1 per liter starting Nov. 1. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will slash gasoline prices by PHP0.25 per liter and PHP0.60 per liter on… Read More
Bank lending up, domestic liquidity slows in September
October 31, 2022, 2:37 pm
MANILA — Bank lending of universal and commercial banks (U/KBs) posted higher expansion but domestic liquidity grew at a slower rate in September 2022. Data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed that U/KBs’ outstanding loans, excluding those placed in the central… Read More
BSP eyes October inflation between 7.1%-7.9%
October 31, 2022, 12:49 pm
MANILA – An increase in the minimum public transportation fare and higher domestic pump prices, among others, are expected to push domestic inflation rate in October 2022 to between 7.1 to 7.9 percent. In a statement on Monday, the Bangko Sentral ng Pilipinas (BSP) said depreciation of the… Read More
Watch out for PH core inflation, 2nd-round effects: IMF exec
October 29, 2022, 2:52 pm
MANILA – Core inflation and second-round effects are major economic factors to watch out for in the Philippines, an executive of the International Monetary Fund (IMF) said. In a hybrid briefing on Friday for the release of the lender’s Regional Economic Outlook (REO), Shanaka Peiris, Division… Read More
Metrobank lists P23.7-B 1.5-year bond
October 29, 2022, 10:13 am
MANILA – Metropolitan Bank & Trust Co. (Metrobank) listed at the Philippine Dealings and Exchange Corp. (PDEx) on Friday its PHP23.7 billion 1.5-year fixed rate bond, which has a coupon rate of 5 percent. In a press release, the bank said it raised the issue size from the PHP10 billion offering… Read More
