Business
Bank launches e-book seen to boost Filipinos financial literacy
September 21, 2022, 8:39 pm
MANILA -- Using technology, Metropolitan Bank & Trust Co. (Metrobank) is supporting the government’s financial literacy program by introducing a financial education electronic book (e-book) and platform aimed to increase people’s financial resiliency. In an event on Wednesday, Metrobank chief… Read More
Fed likely to make 75 bp hike, signal higher terminal rate
September 21, 2022, 8:34 pm
ANKARA – The United States Federal Reserve is likely to make a rate hike of 75 basis points at the end of its critical two-day meeting on Wednesday. More importantly, it could signal a higher terminal rate, according to experts. The Fed has made rate hikes of a total of 225 basis points since… Read More
ADB trims developing Asia GDP outlook
September 21, 2022, 8:29 pm
ANKARA -- The Asian Development Bank (ADB) lowered its economic growth forecasts for developing Asia due to the Russia-Ukraine war, aggressive monetary tightening in advanced economies, and zero coronavirus disease 2019 (Covid-19) lockdowns in China. Developing Asia is projected to grow 4.3… Read More
TDF rates rise ahead of BSP meet
September 21, 2022, 7:52 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose anew on Wednesday ahead of the rate setting meeting decisions of both the central bank and the Federal Reserve. The average rate of the seven-day facility inched up to 3.9942 percent and the 14-day… Read More
Peso posts new record low of P58 vs. US dollar; stocks slip
September 21, 2022, 7:48 pm
MANILA – The main stocks index shed anew on Wednesday while the peso posted a fresh all-time low against the US dollar as the Federal Reserve’s Federal Open Market Committee (FOMC) started its two-day policy meeting. The local currency registered another record-weakest against the US dollar,… Read More
Bank exec eyes 50 bps hikes in BSP’s key rates
September 21, 2022, 7:37 pm
MANILA – An official of Metropolitan Bank & Trust Co. (Metrobank) forecasts another 50 basis points increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates on Thursday, citing among others the impact of the rate uptick on the foreign currency trading. In an interview by journalists on… Read More
Registered biz in Legazpi up by 13%
September 21, 2022, 5:22 pm
LEGAZPI CITY – The Business Permit Licensing Office (BPLO) here has so far recorded a total of 5,915 business establishments that registered with their office to either start or continue their operations since January this year. During the same period in 2021, there were 5,200 establishments… Read More
ADB sees robust 2022 GDP growth for PH
September 21, 2022, 2:39 pm
MANILA – A strong rebound in domestic demand with the easing of coronavirus disease 2019 (Covid-19) mobility restrictions in the country will support robust growth for the Philippine economy this year despite higher inflation due to global and local price pressures, according to a report… Read More
Pinoys prioritize food, consider price in buying FMCG
September 20, 2022, 7:37 pm
MANILA – Data, insights, and consulting firm Kantar Philippines said Filipinos prioritize food products and consider price when buying fast-moving consumer goods, especially in the past two years of the coronavirus disease 2019 (Covid-19) pandemic. In a virtual press briefing Tuesday, Kantar… Read More
PCCI wants biz sector’s representation in SRA board
September 20, 2022, 7:14 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) is asking the Sugar Regulatory Administration (SRA) to include a business sector representative as part of its decision-making body. The PCCI said its recommendation supports the call of local food manufacturers and exporters to… Read More
Peso posts new all-time low, PSEi recovers ahead of Fed meet
September 20, 2022, 6:43 pm
MANILA – The main stocks index recovered on Tuesday amidst expectations for another hike in the Federal Reserve’s key rates but the peso posted a fresh all time-low against the US dollar, its seventh so far this year. Although the local currency sustained its sideways close against the US… Read More
7-year T-bond rate declines
September 20, 2022, 5:50 pm
MANILA – The average rate of seven-year Treasury bond (T-bond) slipped on Tuesday, which National Treasurer Rosalia de Leon said was in line with those of the secondary market. The rate of the debt paper declined to 6.588 percent from 6.740 percent previously. The Bureau of the Treasury (BTr)… Read More
PH remains attractive market for franchising industry
September 20, 2022, 4:01 pm
MANILA – The Philippines remains an attractive market for the franchising industry as demand is supported by the growing middle class and the Filipinos’ love for food, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said. In his video message during the Franchise Asia… Read More
Peso seen to recover as BOP position improves
September 20, 2022, 3:58 pm
MANILA – The expected improvement of the country’s balance of payment (BOP) position in the coming months can boost the peso, an economist said. The Bangko Sentral ng Pilipinas (BSP) on Monday reported the decline in the deficit of the BOP position, which is the summary of a country’s… Read More
PH stocks index starts week in the red; peso ends sideways
September 19, 2022, 6:35 pm
MANILA – All the counters in the local bourse traded on the red on Monday partly ahead of the Federal Reserve meeting this week but the peso managed to finish the day sideways against the greenback. The Philippine Stock Exchange index (PSEi) shed by 1.70 percent, or 111.35 points, to 6,437.42… Read More
BTr rejects bids for 91-, 364-day T-bills due to high yields
September 19, 2022, 6:28 pm
MANILA – The Bureau of the Treasury (BTr) again rejected bids for the three- and 12-month Treasury bills (T-bills) due to high rate demand from investors. However, it partially awarded the 182-day paper for PHP3.162 billion, from the volume offering of PHP5 billion, even with the rate uptick to… Read More
Moody’s Analytics eyes 50bps hike in BSP rates this week
September 19, 2022, 5:02 pm
MANILA – Moody’s Analytics forecasts a 50 basis points (bps) increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates when the policy-making Monetary Board meets on Thursday, projecting that authorities will now be considering demand pressures. In a report on Monday, the unit of… Read More
Video industry backs bill boosting fight vs. online piracy
September 19, 2022, 4:53 pm
MANILA – The Asia Video Industry Association (AVIA) and its members are pushing for the amendment to the country’s intellectual property (IP) code to make it more attuned to the digital age by addressing online piracy. In a statement on Monday, Globe Telecom Inc. (Globe) and its entertainment… Read More
Oil firms to implement big-time price cuts on diesel, kerosene
September 19, 2022, 3:42 pm
MANILA – Oil companies will be implementing big-time price rollbacks on diesel and kerosene products starting 12:01 a.m. Tuesday, while there will be no movement for gasoline prices this week. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Unioil said… Read More
IT-BPO group welcomes gov't nod on 100% WFH set-up
September 19, 2022, 2:42 pm
MANILA – The Information Technology and Business Process Association of the Philippines (IBPAP) has welcomed the decision of the Fiscal Incentive Review Board (FIRB) to allow 100 percent work-from-home (WFH) arrangement for the IT and business process management (IT-BPM) industry. “After two… Read More
