Business
Food security tops PCCI’s 1st PBC resolutions for Marcos admin
October 20, 2022, 3:04 pm
MANILA – Addressing challenges on food security has topped the resolutions passed by the Philippine Chamber of Commerce and Industry (PCCI) during its two-day Philippine Business Conference (PBC) at the Manila Hotel. In its closing ceremony on Thursday, PCCI presented the PBC resolutions to… Read More
TDF rates up anew, preference up for 7-day facility
October 19, 2022, 8:40 pm
MANILA – Preference for the shorter-dated term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) was registered on Wednesday and rates of both the seven- and 14-day facilities rose. The BSP lowered the offering for this week’s TDF auction to PHP150 billion for the one-week TDF… Read More
Stocks rise anew on bargain hunting; peso weakens vs. dollar
October 19, 2022, 8:29 pm
MANILA – The rise of the local stock barometer continued on Wednesday still due to bargain hunting but the peso weakened against the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.32 percent, or 19.67 points, to 6,148.31 points. All Shares followed with a jump of 0.40 percent,… Read More
PH stocks index, peso gain on Tuesday
October 19, 2022, 9:10 am
MANILA – Bargain hunting sustained the local bourse’s rise on Tuesday and this benefited the local currency. The Philippine Stock Exchange index (PSEi) inched up by 2.65 percent, or 158.31 points, to 6,128.64 points. All Shares trailed with a jump of 1.72 percent, or 54.88 points, to 3,253.51… Read More
PLDT welcomes DITO’s openness to settle P430-M debt
October 18, 2022, 7:30 pm
MANILA – PLDT, Inc. welcomed the recent statement of DITO Telecommunity, Inc. regarding its “openness” to amicably settle its unpaid contractual obligation to PLDT amounting to PHP430 million. In a statement on Tuesday, PLDT said the amount is meant to pay for services that the company… Read More
BTr fully awards 10-year T-bond
October 18, 2022, 3:42 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the 10-year Treasury bond (T-bond) on Tuesday despite a rate uptick. The average rate of the debt paper rose to 7.344 percent from 6.703 percent previously. “Full award seeing rates are within secondary levels for comparable… Read More
PSEi up on Fed statements; peso weakens anew to 59 vs. US dollar
October 17, 2022, 7:20 pm
MANILA – The main equities index ended Monday higher amidst hawkish statements from Federal Reserve presidents but the peso weakened anew to its lowest level against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 1.11 percent, or 65.58 points, to 5,970.33 points. All Shares… Read More
Int’l card network exec eyes virtual credit cards in PH
October 17, 2022, 5:30 pm
MANILA – An executive of Union Pay International (UnionPay) Southeast Asia said issuance of the virtual cards among credit card providers is a boost amid digitalization push for financial transactions in the Philippines. During the virtual 42nd anniversary celebration of the Credit Card… Read More
PEZA optimistic to hit 6-7% investment pledges growth
October 17, 2022, 4:43 pm
MANILA – Philippine Economic Zone Authority (PEZA) officer-in-charge and deputy director general Tereso Panga is optimistic that the investment promotion agency (IPA) will hit its 6 to 7 percent growth in investment approvals this year. “We remain bullish that we will be able to achieve our 6… Read More
Oil prices going up again on Oct. 18
October 17, 2022, 2:56 pm
MANILA – Prices of petroleum products will increase anew on Tuesday following a big-time hike last week. In separate advisories, Caltex, Cleanfuel, PTT Philippines, Seaoil, and Shell said gasoline prices will increase by PHP0.80 per liter and diesel prices by PHP2.70 per liter starting 12:01… Read More
10 GOCCs under evaluation for privatization
October 15, 2022, 9:27 am
MANILA – About 10 government-owned and -controlled corporations (GOCCs) are being mulled for privatization pending the evaluation of their financial and economic status, among others. In a briefing on Friday, Governance Commission for GOCCs (GCG) Chairperson Alex L. Quiroz declined to give… Read More
Oil prices mixed amid weak dollar, US inventory build-up
October 14, 2022, 7:45 pm
ANKARA -- Oil prices settled mixed on Friday amid a weakening dollar and more-than-expected build-up of United States inventories, signaling a fall in demand. International benchmark Brent crude traded at $94.79 per barrel at 9:21 a.m. local time (0621GMT) for a 0.2 percent rise from the closing… Read More
PH equities index, peso end week up amid higher US inflation
October 14, 2022, 6:52 pm
MANILA – Both the main equities index and the peso finished the week up despite the higher-than-expected September inflation rate in the United States. The Philippine Stock Exchange index (PSEi) gained by 0.15 percent, or 9.11 points, to 5,904.75 points. All Shares trailed with a jump of 0.41… Read More
BOI approves P91-M hog production project in Pangasinan
October 14, 2022, 4:58 pm
MANILA – The Board of Investments (BOI) said it approved the PHP91.49-million hog production project of Sunjin Farm Solutions in Bugallon, Pangasinan that will increase domestic hog output by PHP563.15 million. In a statement Friday, the BOI said Sunjin’s hog raising project will engage in… Read More
28-day BSP bill rate up anew
October 14, 2022, 3:34 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose on Friday amidst the strong demand from investors. Data released by the central bank showed that the average rate of the debt paper rose to 4.9781 percent from 4.7093 percent during the auction last Oct. 7. The… Read More
Yen weak in upper 146 range vs. dollar after upbeat US data
October 13, 2022, 8:30 pm
TOKYO -- The yen faced ongoing pressure in the upper 146 range against the United States dollar on Thursday in Tokyo as prospects of aggressive monetary tightening by the Federal Reserve persisted following a stronger-than-expected US producer price index (CPI). After nearing the 147 line versus… Read More
Peso touches record low anew, equities index up
October 13, 2022, 7:34 pm
MANILA – The Philippine peso on Thursday closed for the third time this month at its record low of 59.00 to the dollar as recession fears heightened, while the local bourse’s main index rose. The local currency finished the day weaker from its 58.965 close a day ago. It opened the day at… Read More
4 startups vie for collab with MRO firm
October 13, 2022, 7:14 pm
MANILA – Four startups from different countries will compete for possible collaboration with Lufthansa Technik Philippines (LTP), and showcase their innovative solutions to help the maintenance repair and overhaul (MRO) industry. "There is not much companies focusing on technology solutions for… Read More
Firm welcomes gov't moves to upskill seafarers
October 13, 2022, 7:14 pm
MANILA – As the maritime industry shifts towards decarbonization and digitalization, officials of a leading maritime recruitment and fleet management firm said government policies that would further improve Filipino seafarers' skills are “very much welcome.” In a briefing on Thursday,… Read More
Saudi Arabia denies 'political motives' behind oil production cut
October 13, 2022, 7:09 pm
ISTANBUL -- Facing a backlash from the United States, Saudi Arabia on Wednesday denied accusations that political motives were behind the decision by oil producer group OPEC+ to cut production by 2 million barrels a day. "Saudi Arabia does not politicize oil. We don’t see oil as a weapon. We… Read More
