Business
Remittances to support peso as year ends: NEDA exec
October 5, 2022, 6:26 pm
MANILA — Seasonal increase of remittances from overseas Filipino workers (OFWs) in the last quarter of the year is expected to support the local currency, a National Economic and Development Authority (NEDA) executive said. During the virtual public briefing on Wednesday, NEDA Assistant… Read More
Stocks gauge little changed, peso flat amid inflation rise
October 5, 2022, 6:23 pm
MANILA — The main equities index barely moved on Wednesday while the peso was unchanged against the greenback even with the jump in the rate of domestic price increases for September 2022. The Philippine Stock Exchange index (PSEi) gained by 0.01 percent, or 0.87 points, to 5,988.59… Read More
PH dollar bond offer gets investment grade rating from S&P
October 5, 2022, 4:25 pm
MANILA — S&P Global Ratings has assigned a ‘BBB+’ rating on the Philippines’ proposed benchmark United States dollar-denominated senior unsecured bond offering. The government’s planned bond issuance has the same rating as that of the sovereign. “The bonds represent direct, general,… Read More
Continued gov’t support to aid Filipinos amid price pressures
October 5, 2022, 4:17 pm
MANILA — Socioeconomic Planning Secretary Arsenio Balisacan has highlighted the crucial role of sustained targeted subsidies and ensuring that there is an ample supply of food in the domestic market to help Filipinos amid inflationary pressures. “The government’s priority is to make sure… Read More
Ready for more policy actions as inflation up anew: BSP
October 5, 2022, 1:18 pm
MANILA — The Bangko Sentral ng Pilipinas (BSP) on Wednesday reiterated its readiness to implement further monetary actions after domestic inflation resumed its uptick last September to 6.9 percent, the highest since October 2018. The rate of price increases accelerated in the ninth month this… Read More
September inflation jumps to 6.9%
October 5, 2022, 12:47 pm
MANILA – The consumer price index (CPI) for September this year rose 6.9 percent, which is mainly driven by faster food inflation, the Philippine Statistics Authority (PSA) reported Wednesday. In a press conference, PSA head and national statistician Undersecretary Dennis Mapa said the headline… Read More
Bargain hunting lifts PH stocks index, peso
October 4, 2022, 8:05 pm
MANILA – Bargain hunting lifted anew sentiments in the local bourse on Tuesday and this benefited the peso following its record-low close of 59.00 to a United States dollar the previous day. The Philippine Stock Exchange index (PSEi) rose by 3.54 percent, or 204.57 points, to 5,987.72… Read More
Economists eye September inflation as high as 7%
October 4, 2022, 7:08 pm
MANILA – The country’s inflation rate likely accelerated in September 2022 after a deceleration in the previous month due in part to higher food prices and power rates, according to economists. In a report for the economic outlook for Oct. 1-7, Standard Chartered Bank economist for Asia and… Read More
DTI studying price adjustment applications for Noche Buena goods
October 4, 2022, 6:53 pm
MANILA – The Department of Trade and Industry (DTI) said it is still studying the applications of manufacturers of Noche Buena goods for possible price adjustments for these seasonal products. During the Laging Handa public briefing on Tuesday, DTI Assistant Secretary Ann Claire Cabochan said… Read More
BSP vows to continue addressing financial market disruptions
October 4, 2022, 6:05 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is urging market players to remain responsible amidst the latest developments in the financial market since volatilities are causing currencies, among others, to weaken. On Monday, the peso posted another record-low close against the greenback… Read More
DTI intensifies crackdown on uncertified products
October 4, 2022, 4:09 pm
MANILA – The Department of Trade and Industry (DTI) has strengthened its enforcement mandate to wipe out uncertified products in the country following the inspection operations of the Fair Trade Enforcement Bureau (FTEB) in September. The DTI reported Tuesday that its enforcement teams clamped… Read More
Economist eyes sustained growth in PH manufacturing PMI
October 3, 2022, 7:39 pm
MANILA – An economist forecasts continued improvement of the Philippines’ manufacturing purchasing managers index (PMI) as the government sustains reopening the economy. The country registered another increase in manufacturing PMI last September to 52.9 from 51.2 in the previous month, which… Read More
Peso posts new record low; stocks take breather
October 3, 2022, 6:59 pm
MANILA – The peso recorded another record low against the United States dollar given the hawkish signals from Federal Reserve authorities while bargain hunting lifted the local bourse’s main index on Monday. The peso closed 59.00 against the US dollar from 58.625 last Friday. It opened the day… Read More
DOE OKs Prime Infra acquisition of Shell’s Malampaya stake
October 3, 2022, 6:29 pm
MANILA – The Department of Energy (DOE) has approved the acquisition deal between Prime Infrastructure Capital, Inc. and Shell Philippines Exploration B.V. (SPEX) on the latter’s 45-percent stake in the Malampaya Service Contract (SC) 38. This, after the DOE completed the review of the… Read More
BTr rejects T-bill bids across-the-board
October 3, 2022, 4:40 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully rejected bids for the Treasury bills (T-bills) as investors continued to demand for high yields. Had the auction committee fully awarded the debt papers, the rate of the 91-day paper would have risen to 4.660 percent, the 182-day’s to… Read More
Fuel prices down anew this week
October 3, 2022, 4:36 pm
MANILA – Pump prices will go down anew this week, slashing diesel and kerosene prices for five straight weeks. Oil firms including Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil and Shell announced that they will roll back gasoline prices by PHP0.40 per liter and PHP0.45 per liter for… Read More
PH factories improve in September
October 3, 2022, 2:15 pm
MANILA – The country’s manufacturing purchasing managers’ index (PMI) in September 2022 improved to 52.9, the highest in three months, S&P Global reported Monday. The manufacturing score last month was higher than the sector’s performance in August at 51.2. The September survey also showed… Read More
BSP 28-day bills' rates rise anew
October 1, 2022, 8:56 am
MANILA – Hikes in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates continued to push the yield of the central bank’s 28-day bill higher as the demand for the debt paper remains strong. The average rate of the securities rose to 4.5301 percent from last week’s 4.4203 percent. The… Read More
Measures on fiscal program implementation to address budget gap
September 30, 2022, 8:59 pm
MANILA – Measures on how the government will implement its fiscal program to further boost the economy’s recovery and improve the state’s fiscal health are key factors in addressing budget gap, an economist said. On Friday, the government reported lower budged deficit last August at PHP72… Read More
PH peso regains strength vs. US dollar, stock gauge slips
September 30, 2022, 6:53 pm
MANILA – The peso continued to improve against the United States dollar on Friday but risk-off sentiments reigned in the local bourse due to renewed recession fears. As the US dollar’s 20-year high waned a tad, the local currency continued to regain its footing and finished the week at 58.625… Read More
