Business
NG debt hits P13-T in end-August
September 30, 2022, 6:29 pm
MANILA – Total liabilities of the national government (NG) rose by a percent to PHP13.02 trillion as of end-August 2022 due to domestic securities issuance and currency adjustments, the Bureau of the Treasury (BTr) reported on Friday. In a statement Friday, the BTr said the latest debt level of… Read More
BOI registers UP-based e-learning platform project
September 30, 2022, 5:21 pm
MANILA – The Board of Investments (BOI) on Friday said it approved the registration of Tagpros Education OPC for its learning management systems (LMS) platform project based in the University of the Philippines (UP) Diliman campus in Quezon City. The company has invested PHP46 million for the… Read More
BSP eyes September inflation between 6.6%-7.4%
September 30, 2022, 4:27 pm
MANILA – Higher prices of electricity and key food commodities are expected to push domestic inflation rate in September 2022 to between 6.6 to 7.4 percent, higher than the previous month’s level. In a statement on Friday, the Bangko Sentral ng Pilipinas (BSP) said depreciation of the… Read More
SEC warns public vs. Lodi Coins
September 30, 2022, 3:57 pm
MANILA – The Securities and Exchange Commission (SEC) has advised the public against investing in Lodi Coins, a supposed virtual currency offered on social media without the necessary licenses from regulators. In an advisory dated Sept. 29, the Commission flagged the public offering of Lodi… Read More
Economic reopening seen to boost portfolio investment inflows
September 30, 2022, 2:44 pm
MANILA – Net outflows of foreign portfolio investments registered a smaller figure in August 2022 at USD86.29 million from month-ago’s USD103.14 million net outflows, the Bangko Sentral ng Pilipinas (BSP) reported. However, central bank data show that the net outflows last August is a… Read More
PH stocks recover; peso almost unchanged
September 29, 2022, 8:01 pm
MANILA – The main stocks index took a breather on Thursday while the peso finished the day almost unchanged against the US dollar even after touching 59-level mid-trade. After several days of decline, the Philippine Stock Exchange index (PSEi) gained 0.93 percent, or 54.57 points, to 5,934.25… Read More
Mattress maker invests P560-M to boost export
September 29, 2022, 6:45 pm
MANILA – Maxiflex Philippines Corp., the manufacturer of mattress brand Uratex, has invested PHP560.4 million for its facility in Plaridel, Bulacan to boost its mattress exports. In a statement Thursday, the Board of Investments (BOI) said it approved Maxiflex’s registration under the 2022… Read More
DOE exec sees stable power supply in Visayas in next 5 years
September 29, 2022, 6:14 pm
DUMAGUETE CITY – The power outlook for the Visayas region in the next five years is stable with excess supply and no indications of a shortage, a key official of the Department of Energy (DOE) in the region said on Thursday. In an interview with reporters following a forum at the Sangguniang… Read More
SEC issues guidelines on arbitration of intra-corporate disputes
September 29, 2022, 3:13 pm
MANILA – The Securities and Exchange Commission (SEC) has issued guidelines that will allow corporations to resolve intra-corporate disputes promptly and without going to court through arbitration. The Commission on Sept. 19 issued SEC Memorandum Circular No. 8, Series of 2022, which provides… Read More
DTI to support typhoon-affected MSMEs in Nueva Ecija
September 29, 2022, 2:54 pm
CABANATUAN CITY, Nueva Ecija – The Department of Trade and Industry (DTI) is working to support micro-enterprises affected by Super Typhoon Karding. Dr. Richard Simangan, provincial director of DTI in Nueva Ecija, said on Thursday that some 24 micro, small and medium enterprises (MSMEs) were… Read More
20-MW solar projects in PEZA zones eyed
September 29, 2022, 2:05 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has partnered with the Upgrade Energy Philippines, Inc. (UGEP) to develop solar energy projects within economic zones. In a statement Thursday, the investment promotion agency said PEZA officer-in-charge Tereso Panga and UGEP president and… Read More
Financially viable PPP projects seen with revised BOT law IRR
September 28, 2022, 8:05 pm
MANILA – The National Economic and Development Authority (NEDA) is confident that more financially viable and well-structured public-private partnership (PPP) projects will be delivered following the publication of the revised 2022 implementing rules and regulations (IRR) of the… Read More
Gov’t sets P200-B borrowing program for October
September 28, 2022, 7:19 pm
MANILA — The Bureau of the Treasury (BTr) plans to borrow PHP200 billion from local creditors in October 2022, the same as this month’s borrowing program which, however, was not met. National Treasurer Rosalia de Leon, in a memorandum to government securities eligible dealers (GSEDs) issued… Read More
PSEi slips further; peso keeps footing amid recession fears
September 28, 2022, 6:10 pm
MANILA — The main stocks index declined anew on Wednesday amid United States recession worries but the peso was little changed despite touching the 59-level against the US dollar mid-trade. The Philippine Stock Exchange index (PSEi) dipped further to 5,879.68 points, down by 2.33 percent or… Read More
BSP issues add’l regulations for digital banks
September 28, 2022, 4:54 pm
MANILA — Digital banks are required to heed prudential requirements and policies, such as those imposed on universal and commercial banks (U/KBs), given their classification as complex banks. Under Bangko Sentral ng Pilipinas (BSP) Circular No. 1154 issued on Sept. 14, digital banks are… Read More
IT-BPM sector eyes $59-B revenue, 2.5M workforce in 2028
September 28, 2022, 2:27 pm
MANILA – The country’s information technology and business process management (IT-BPM) industry targets to hit a revenue of USD59 billion and a total of 2.5 million full-time employees (FTEs) in the next six years, according to Jack Madrid, Information Technology and Business Process… Read More
DOE awards P271-B renewable energy contracts
September 28, 2022, 2:22 pm
MANILA – The Department of Energy (DOE) reported it awarded a total of 998 renewable energy (RE) contracts as of June 2022, with investments amounting to PHP270.8 billion. In a statement Wednesday, DOE said the RE contracts have a total installed capacity of 5,460.59 megawatts and a potential… Read More
Baltic Pipe gas pipeline opens to reduce dependency on Russia
September 28, 2022, 2:21 pm
LONDON – The Baltic Pipe natural gas pipeline was officially opened Tuesday at a ceremony in Szczecin, Poland. Polish, Norwegian and Danish leaders attended the ceremony for the launch of the gas transmission system, which they hope will end Poland and Europe's dependency on Russian gas.… Read More
Oil rebounds over supply side concerns ahead of OPEC meeting
September 27, 2022, 8:04 pm
ANKARA – Oil prices rebounded on Tuesday, after losing almost 4 percent in the previous trade, as fresh supply-side uncertainties coupled with anticipated supply cuts by Organization of the Petroleum Exporting Countries (OPEC) producers overshadowed a strong dollar, which discourages investors… Read More
PH stocks, peso down on fresh Fed rate hike
September 27, 2022, 7:36 pm
MANILA – Risk-off sentiments reigned in the local bourse on the resumption of the week’s trading on Tuesday and the peso registered another all-time low against the greenback due to hikes in the Federal Reserve’s key rates. The Philippine Stock Exchange index (PSEi) shed 3.83 percent, or… Read More
