Business
Acting SRA head lauds 41% hike in next year’s budget
August 29, 2022, 4:58 pm
BACOLOD CITY – Acting Administrator David John Thaddeus Alba has lauded the 41-percent increase in the annual budget of the Sugar Regulatory Administration (SRA) for the year 2023. “We welcome the budget increase for SRA for next year’s utilization as the industry is in dire need of… Read More
Oil up over demand recovery signs
August 26, 2022, 8:40 pm
ANKARA – Oil prices increased on Friday amid signs of better demand appetite and possible OPEC+ action to lower output and stem price falls. International benchmark Brent crude traded at $100.34 per barrel at 09:15 a.m. local time (0615 GMT) for a 1.01 percent increase from the closing price of… Read More
Stocks index up, peso sideways ahead of Fed conference
August 26, 2022, 8:37 pm
MANILA – The wait-and-see stance on the speech of Federal Reserve Chair Jerome Powell during the Jackson Hole conference made investors stay at the sidelines, resulting in the positive close of the main stocks index. The Philippine Stock Exchange index (PSEi) rose by 0.69 percent, or 46.07… Read More
BSP’s 28-day securities rate sustains rise
August 26, 2022, 8:34 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose anew on Friday, which was again traced to the same path as the central bank’s key rates. The average rate of the debt paper increased to 4.0260 percent from 3.9762 percent during the auction last Aug. 19. The… Read More
BOC-Port of Clark exceeds August target collection
August 26, 2022, 6:18 pm
CITY OF SAN FERNANDO, Pampanga – The Bureau of Customs (BOC)-Port of Clark has surpassed its collection target for eight straight months. A report from the Collection Division showed that BOC-Port of Clark exceeded its target with a collection of PHP258.95 million as early as Aug. 23 as compared… Read More
Globe builds over 570 new towers in H1 2022
August 26, 2022, 4:03 pm
MANILA – Local telecommunications service provider Globe Telecom Inc. (Globe) has built a total of 572 new cell towers and upgraded around 6,800 mobile sites to 4G LTE in the first half of the year alone. In a statement on Friday, Globe SVP and head of network planning and engineering Joel… Read More
Proposed 2023 nat’l budget to support continued economic growth
August 26, 2022, 3:46 pm
MANILA – Finance Secretary Benjamin Diokno has assured legislators that the Marcos administration’s proposed national budget for 2023 will propel economic recovery and rapid expansion. “Allow me to assure Congress that the economic team’s proposed 2023 budget will bolster our country’s… Read More
Risk appetite boosts stocks index, peso
August 25, 2022, 7:45 pm
MANILA – Risk appetite returned to the local bourse on Thursday, allowing the main index to close higher, which the peso mirrored. The Philippine Stock Exchange index (PSEi) gained 0.95 percent, or 62.98 points, to 6,706.43 points. All Shares followed with a jump of 0.68 percent, or 23.95… Read More
Converge, Globe top Netflix's speed index in July
August 25, 2022, 5:54 pm
MANILA – Fiber broadband provider, Converge ICT Solutions Inc. (Converge), and mobile and broadband firm, Globe Telecom Inc. (Globe), have topped Netflix’s Internet Service Provider (ISP) Speed Index in July. In its ISP Speed Index for the month of July, Netflix reported an average performance… Read More
GCash backs gov’t efforts to penalize loan, sale of e-wallets
August 25, 2022, 5:26 pm
MANILA – Local mobile wallet service provider GCash has expressed support for the government's crackdown against the loan and sale of mobile wallet accounts commonly used by cybercriminals. In a statement on Thursday, GCash chief risk officer Ingrid Rose Ann Beroña said scammers and other… Read More
Advisory panel formed to iron out policies in energy sector
August 25, 2022, 3:33 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla announced Thursday that the agency has formed a law and energy advisory panel that will address the challenges and bottlenecks in the regulatory framework in the energy sector. In a virtual press conference, Lotilla said DOE has… Read More
DTI intensifies monitoring mechanisms vs. high priced goods
August 25, 2022, 2:46 pm
MANILA – The Department of Trade and Industry (DTI) tightens its surveillance and monitoring activities to ensure compliance among commercial establishments and supermarkets amid rise in prices of goods. The DTI, through its Consumer Protection and Advocacy Bureau (CPAB), officially released… Read More
BSP: PH now has 6 digital banks
August 24, 2022, 8:30 pm
MANILA – The Philippines now officially has six digital banks after the Bangko Sentral ng Pilipinas (BSP) recently issued Certificates of Authority (COA) to two more financial institutions, which paved the way for the latter’s full operations. The BSP on Wednesday said UnionDigital Bank Inc.… Read More
PH stocks index recovers, peso rises anew
August 24, 2022, 7:21 pm
MANILA – The Philippines’ main stocks gauge experienced a breather on Wednesday and recovered. After sliding since Monday, the Philippine Stock Exchange index (PSEi) rose by 0.38 percent, or 25.07 points, to 6,643.45 points. All Shares followed with a jump of 0.27 percent, or 9.42 points, to… Read More
BSP urges households to support financial conditions survey
August 23, 2022, 8:32 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is encouraging households selected to take part in the triennial nationwide survey on the financial conditions of households in the country to “extend their full support and cooperation.” In a press release issued on Tuesday, the central bank… Read More
5.5-year retail bonds fetch 5.75% rate
August 23, 2022, 7:48 pm
MANILA – The coupon rate of the 5.5-year retail treasury bond (RTB) that the Bureau of the Treasury (BTr) will issue for two weeks starting Tuesday stands at 5.75 percent. Its average rate was 5.579 percent, higher than the 4.564 percent the same tenor fetched previously. The BTr offered the… Read More
Private sector-led MSME program to be launched Aug. 26
August 23, 2022, 7:29 pm
MANILA – The Private Sector Advisory Council (PSAC) will launch on Friday a program for micro, small and medium enterprises (MSMEs) called Kapatid Angat Lahat. This program was initiated by Go Negosyo founder Joey Concepcion, who is also the Jobs group lead of PSAC. In a statement Tuesday,… Read More
PH stocks slip anew on profit-taking; peso improves
August 23, 2022, 7:03 pm
MANILA – Profit-taking, still due to additional Federal Reserve rate hike concerns, resulted in another negative close for the local stock barometer on Tuesday but the local currency gained against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.28 percent, or 86.03 points,… Read More
Counterfeiting, piracy complaints at IPOPHL drop in H1
August 23, 2022, 6:03 pm
MANILA – Counterfeiting complaints and piracy reports at the Intellectual Property Office of the Philippines (IPOPHL) from January to June dropped to 56, lower by 48 percent from the 107 complaints and reports in the same period in 2021. IPOPHL’s Intellectual Property Rights Enforcement… Read More
PH to join digitized int’l trade platform
August 23, 2022, 2:50 pm
MANILA – The Philippines aims to join other Southeast Asian countries to use the digital platform for borderless international trade through a partnership between the Department of Trade and Industry (DTI) and Jakarta-based Andalin Trade. In a statement Tuesday, DTI-Export Marketing Bureau… Read More
