Business
PBBM visits to Indonesia, SG seen to boost trade, investments
September 5, 2022, 6:06 pm
MANILA – Employers Confederation of the Philippines (ECOP) and the Philippine Exporters Confederation, Inc. (PHILEXPORT) president Sergio Ortiz-Luis hopes that the visit of President Ferdinand “Bongbong” Marcos Jr. to Indonesia and Singapore will strengthen the country’s economic ties with… Read More
Oil price rollback set on Sept. 6
September 5, 2022, 4:42 pm
MANILA – After a big-time increase in fuel prices last week, oil companies will slash prices of gasoline, diesel, and kerosene on Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will roll back gasoline prices by PHP2.60 per… Read More
Skyrocketing energy prices force many Dutch factories to close
September 4, 2022, 1:37 pm
ANKARA – Skyrocketing energy prices have forced many Dutch factories to shut down, local media reported on Saturday. Ever-increasing energy prices hit hard particularly the energy-intensive sectors such as the metal industry, according to the NU news website. Speaking to the website, economists… Read More
MB OKs increase in minimum capital requirement for rural banks
September 2, 2022, 7:47 pm
MANILA – The Monetary Board has approved the amendments to the minimum capitalization of rural banks that would enable them to enhance their risk management systems, upgrade resources and manage operational costs, meet prudential standards, and accelerate digital transformation. This is part of… Read More
Stocks gain, peso posts weakest on hawkish Fed stance
September 2, 2022, 6:57 pm
MANILA – The main stocks index finished the week up amid worries over the hawkish Federal Reserve stance but the peso posted its weakest to date. The Philippine Stock Exchange index (PSEi) rose by 1.58 percent, or 104.37 points, to 6,692.65 points. All Shares followed after it rose by 1.44… Read More
Private sector vows support for Marcos admin's infra projects
September 2, 2022, 5:55 pm
MANILA – The Private Sector Advisory Council (PSAC) -- a group composed of leaders of private companies involved in the infrastructure sector -- has expressed its support for the completion of ongoing and upcoming infrastructure programs of the Marcos administration. In a meeting with President… Read More
BSP 28-day securities rate sustains rise
September 2, 2022, 5:01 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose anew on Friday in line with the rise in domestic interest rates but demand for the debt paper remained. The average rate of the BSP bills increased to 4.0596 percent from 4.0260 percent during the auction last… Read More
Approved FDIs in Subic Bay Freeport hits P32.98-B
September 2, 2022, 3:00 pm
SUBIC BAY FREEPORT – Some PHP32.98 billion in foreign direct investments (FDIs) approved in this premier freeport accounted for 71.34 percent of the total PHP46.23 billion approved by all Investment Promotion Agencies (IPAs) in the country during the second quarter of the year. Those… Read More
PSEi, peso start month on shaky grounds on US recession fears
September 1, 2022, 6:50 pm
MANILA – The main equities index ended almost flat on Thursday after slipping for the past days due to recession fears in the United States, and the peso mirrored this performance. The Philippine Stock Exchange index (PSEi) rose by 0.07 percent, or 4.63 points, to 6,588.28 points. All Shares,… Read More
APEC members to establish ground to cultivate common goals
September 1, 2022, 3:47 pm
JAKARTA — Asia-Pacific Economic Cooperation (APEC) senior officials forged ahead to establish common ground for advancing APEC's goal for an open, dynamic, resilient, and peaceful Asia-Pacific community after a timely cluster of trade, sectoral meetings concluded in Chiang Mai, Thailand. Senior… Read More
Stocks index declines anew, peso keeps footing
August 31, 2022, 7:52 pm
MANILA — Jitters for more Federal Reserve rate hikes resulted in another negative close for the local bourse’s main index on Wednesday, while the peso ended sideways against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.59 percent, or 106.62 points, to 6,583.65… Read More
BSP eyes August inflation between 5.9%-6.7%
August 31, 2022, 6:59 pm
MANILA — The Bangko Sentral ng Pilipinas (BSP) forecasts inflation rate to stay between 5.9 to 6.7 percent this month. In a statement on Wednesday, the central bank said the rate of price increases during the month “was driven by the continued increase in key food prices.” It, however,… Read More
BSP’s TDF rates sustain rise
August 31, 2022, 5:11 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) posted another rate uptick on Wednesday as the central bank continued to hike its policy rates. The average rate of the seven-day facility increased to 3.8051 percent and the 14-day’s to 3.8454 percent. These were… Read More
Revitalization of Bulacan's dying tannery industry pushed
August 31, 2022, 4:08 pm
MALOLOS CITY, Bulacan – The Bulacan Micro, Small and Medium Enterprises Development Council, headed by the Department of Trade and Industry (DTI) provincial office, has laid out measures for the revitalization of the dying tannery industry in Meycauayan City. DTI provincial director Edna Dizon… Read More
PH stocks gauge, peso slips on Fed Chair’s speech
August 30, 2022, 7:57 pm
MANILA — Risk-off sentiments following another statement for more tightening moves from the Federal Reserve resulted in another slip both for the main stocks gauge and the peso on Tuesday. The Philippine Stock Exchange index (PSEi) started the shortened workweek on the negative after it fell… Read More
Oil down as interest rate hike cues fuel demand fears
August 30, 2022, 7:53 pm
ANKARA – Oil prices decreased on Tuesday as signs of more aggressive interest rate hikes by central banks fuel recession and demand fears. International benchmark Brent crude traded at $102.59 per barrel at 09:26 a.m. local time (0626 GMT) for a 0.33 percent decline from the closing price of… Read More
Diokno favors financing existing social protection programs
August 30, 2022, 6:38 pm
MANILA – Finance Secretary Benjamin Diokno said the government should prioritize existing social protection programs over another round of coronavirus disease 2019 (Covid-19) social amelioration subsidies, which has hardly any urgent basis given the continuous recovery of the economy and the… Read More
BTr fully rejects bids for T-bills
August 30, 2022, 5:38 pm
MANILA – The Bureau of the Treasury (BTr) rejected all bids for the Treasury bills (T-bills) on Monday after investors asked for high yields. Had the auction committee accepted the bids, the average rate of the 90-day paper, one day short because of a holiday, would have risen to 2.685 percent… Read More
Oil up over persistent supply woes vs. rebounding demand
August 29, 2022, 9:00 pm
ANKARA – Oil prices rose on Monday over ongoing fears that the Organization of the Petroleum Exporting Countries (OPEC) will squeeze output to stabilize the market while data shows demand rising in Asia, Europe, and the United States. International benchmark Brent crude traded at $99.67 per… Read More
APEC to deepen partnerships to enhance sustainability, inclusion
August 29, 2022, 6:20 pm
JAKARTA – Asia-Pacific Economic Cooperation (APEC) officials, private sector representatives, environmental experts, representatives from international organizations and members of the youth are exploring business practices and financing as pathways to sustainable economic growth in the… Read More
