Business
Fitch Solutions hikes 2022 BSP rate hike forecast
August 22, 2022, 9:08 pm
MANILA – Hawkish statements from Philippine monetary authorities made Fitch Solutions Country Risk and Industry Research hike its policy rate increase projections for the Bangko Sentral ng Pilipinas (BSP) by end-2022 to 4.5 percent. Citing the 50 basis points increase in the BSP’s key rates… Read More
T-bills rates rise after BSP rate hike
August 22, 2022, 8:26 pm
MANILA – The rates of Treasury bills (T-bills) rose on Monday, mirroring the path of the Bangko Sentral ng Pilipinas’ (BSP) key policy rates. The average rate of the 91-day paper rose to 2.070 percent, the 182-day to 3.336 percent, and the 364-day to 3.782 percent. These were at 1.874 percent,… Read More
PSEi down as peso weakens amid global growth concerns
August 22, 2022, 8:01 pm
MANILA – Worries on the global growth path and rate hike decisions by central bank hit the local bourse on Monday while the peso finished at 56-level against the US dollar. The Philippine Stock Exchange index (PSEi) shed 2.32 percent, or 159.45 points, to 6,704.41 points. All Shares followed… Read More
DTI sees growth of Tanjay City's famous delicacy
August 22, 2022, 7:25 pm
DUMAGUETE CITY – The passage of an ordinance making the famous “bodbod” or rice roll in Tanjay City, Negros Oriental as its One Town, One Product (OTOP), is seen to bolster the income of the small businesses in the area, the Department of Trade and Industry (DTI) here said on Monday.… Read More
Over 50% of Filipinos now own financial transaction account
August 22, 2022, 6:24 pm
MANILA – More than half of the country’s adult population now owns a financial account, according to the results of the Bangko Sentral ng Pilipinas (BSP) 2021 Financial Inclusion Survey (FIS). The survey results showed that account ownership surged to 56 percent in 2021, up from 29 percent in… Read More
DTI seeks nearly P20-B budget for 2023
August 22, 2022, 4:53 pm
MANILA – The Department of Trade and Industry (DTI) is eyeing PHP19.998 billion budget during the initial year of the Marcos administration, based on the National Expenditure Program (NEP) for 2023. This, as the PHP5.268-trillion national budget for next year has been submitted to Congress on… Read More
Big-time price hike on diesel, kerosene set on Aug. 23
August 22, 2022, 3:49 pm
MANILA – After five consecutive weeks of rollbacks, prices of diesel and kerosene are set for a big-time hike on Tuesday. In separate advisories, Caltex, Cleanfuel, Seaoil, and Shell said they will increase diesel prices by PHP2.60 per liter and PHP0.70 per liter on gasoline. Caltex, Seaoil, and… Read More
Lufthansa Technik eyes next expansion outside NCR
August 20, 2022, 3:51 pm
MANILA – As Lufthansa Technik Philippines (LTP) has reached its maximum capacity in its facility in Metro Manila, the leading provider of aircraft maintenance, repair, and overhaul (MRO) services is looking forward to expanding in other parts of the country. The LTP launched on Friday evening… Read More
Drop in oil prices to benefit PH's BOP position
August 19, 2022, 8:31 pm
MANILA –The decline in oil prices in the international market is expected to help lessen the country’s trade deficit and boost the balance of payment (BOP) position, which posted a USD1.8 billion deficit last July. In a report Friday, Rizal Commercial Banking Corporation (RCBC) chief… Read More
BSP 28-day bills rate rise anew
August 19, 2022, 8:27 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) 28-day securities registered on Friday another rate increase even as demand remained high. Data released by the central bank showed that the average rate of the debt paper increased to 3.9762 percent from 3.7564 percent during the auction last… Read More
Risk-on sentiments lift PH stocks, peso ends sideways
August 19, 2022, 7:48 pm
MANILA – Risk-on sentiments returned to the local bourse and allowed the main index to finish the week up while the peso managed to end the day sideways despite touching the 56-level against the US dollar mid-trade. The Philippine Stock Exchange index (PSEi) gained 0.57 percent, or 39.23… Read More
P524-M Amazon office in PH to open in September
August 19, 2022, 7:23 pm
MANILA – The Board of Investments (BOI) said Friday it has approved the PHP524.33 million project of Amazon Operation Services Philippines, Inc. (AOSPI) located in the Mall of Asia Complex in Pasay City. This will be Amazon’s fourth office in the country after the two in Cebu City and one in… Read More
DTI to open P400-M cutting-edge tech factory in 2023
August 19, 2022, 5:34 pm
MANILA – The Department of Trade and Industry (DTI) targets to start the operation of the Industry 4.0 pilot factory that features advanced technologies in Calabarzon area by next year, a senior trade official told the Philippine News Agency on Friday. DTI Undersecretary Rafaelita Aldaba said… Read More
DTI, UNIDO to deploy e-vehicles, charging infra in 5 key cities
August 19, 2022, 1:26 pm
MANILA – The Department of Trade and Industry (DTI) and the United Nations Industrial Development Organization (UNIDO) are partnering to deploy electric vehicles and charging infrastructure in five major cities in the country from 2022 to 2027. During the SGV tax symposium in Makati City… Read More
Further hikes in BSP rates to back PH peso: economist
August 19, 2022, 8:34 am
MANILA – An economist has forecast further hikes in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates even with the 50 basis point increase on Thursday, citing the need to address interest rate differentials with the Federal Reserve. Rizal Commercial Banking Corp. (RCBC) chief economist… Read More
RTB issuance in offing: National Treasurer
August 18, 2022, 8:47 pm
MANILA – The Bureau of the Treasury (BTr) is set to issue retail treasury bonds (RTBs) later this month, the first under the Marcos administration. “Yes, but no details yet,” National Treasurer Rosalia de Leon said in a reply to a Viber message from the Philippine News Agency (PNA) on… Read More
BSP raises key rates anew
August 18, 2022, 8:44 pm
MANILA – Monetary authorities hiked Thursday the Bangko Sentral ng Pilipinas’ (BSP) key rates by 50 basis points as they cited the need to continue implementing measures to address the elevated inflation rate. This brought the central bank’s overnight reverse repurchase (RRP) rate to 3.75… Read More
PH stocks gauge, peso end sideways
August 18, 2022, 7:01 pm
MANILA – The main stocks index ended almost unchanged on Thursday ahead of the announcement of the Bangko Sentral ng Pilipinas’ (BSP) key rate decision while the peso finished sideways to the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.08 percent, or 5.64 points, to… Read More
Digital fraud in PH decreases
August 18, 2022, 4:09 pm
MANILA – Digital fraud originating from the Philippines has decreased by 11 percent in April to June 2022 compared to the same period last year, a study from global information and insights firm TransUnion showed. TransUnion reported Thursday that the decline in digital fraud in the country in… Read More
Gov’t pilot-tests satellite internet service in 2 rural banks
August 18, 2022, 3:00 pm
MANILA – The government is pilot-testing the use of satellite internet services in two rural banks in Batangas City that are located in geographically isolated and disadvantaged areas (GIDA). In a press release on Thursday, the Bangko Sentral ng Pilipinas (BSP) said it has teamed-up with the… Read More
