Business
Rate hikes still needed to address inflation factors
August 17, 2022, 8:33 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla on Wednesday did not rule out further hikes in the central bank’s key policy rates, citing the need to address factors affecting inflation. During the Economic Journalists Association of the Philippines–San Miguel… Read More
Oil pares losses over hopes of improving US crude demand
August 17, 2022, 8:27 pm
ANKARA – Oil prices quelled losses on Wednesday over a more-than-expected decline in US crude oil stockpiles, while gloomy economic data from China, the world's largest oil consumer, continues to provoke concerns of a global economic downturn. International benchmark Brent crude traded at… Read More
Public warned vs. unregistered virtual asset service providers
August 17, 2022, 7:56 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has cautioned the public against dealing with virtual asset service providers (VASPs) that are unregistered or those that are based overseas, citing the challenges and risks they may face. Aside from risk on price volatilities, the central bank… Read More
NEDA readies proposal to address sugar industry issues
August 17, 2022, 6:35 pm
MANILA – Socioeconomic Planning Secretary Arsenio Balisacan said the government is finding ways to address the current issues in the local sugar industry. On the sidelines of an economic forum organized by the Economic Journalists Association of the Philippines and the San Miguel Corp. on… Read More
Stocks index down on profit-taking, peso almost unchanged
August 17, 2022, 5:17 pm
MANILA – Bargain hunting ended in the local bourse, resulting in the negative close of the main equities index on Wednesday, but the peso kept its footing against the US dollar. After several days of rally, the Philippine Stock Exchange index (PSEi) shed by 0.46 percent, or 31.65 points, to… Read More
TDF rates rise ahead of MB rate-setting meeting
August 17, 2022, 4:51 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose anew on Wednesday and investors’ preference remained on the short-term. The average rate of the seven-day TDF rose to 3.6913 percent from 3.5623 percent during the auction last August 10. The rate… Read More
PCC, NBI partner to boost antitrust body’s enforcement capacity
August 17, 2022, 4:45 pm
MANILA – The Philippine Competition Commission (PCC) and the National Bureau of Investigation (NBI) have forged partnership to strengthen the antitrust body’s enforcement capacity to crack down on anticompetitive activities in the market. On Wednesday, PCC officer-in-charge Johannes Bernabe… Read More
Firm to supply renewable energy in Bataan
August 16, 2022, 7:33 pm
MANILA – The Peninsula Electric Cooperative, Inc. (PENELCO) has diversified its power sources to be distributed in its franchise areas, now tapping solar power through a unit of renewable energy firm Alternergy Holdings Corp. In a statement Tuesday, Alternergy said its subsidiary Solana Solar… Read More
Home needs retailer continues store network expansion
August 16, 2022, 6:48 pm
MANILA – AllHome, the country’s pioneering one-stop full-line home center, is ramping up expansion as it banks on sustained optimism among consumers in the post-pandemic scenario. “The country at large has successfully demonstrated and sustained its optimism in the post-pandemic scenario.… Read More
PSEi rises anew on improved sentiment; peso almost unchanged
August 16, 2022, 6:35 pm
MANILA – Risk-on sentiments continued to lift the local bourse’s main index on Tuesday while the peso finished sideways against the US dollar after touching the 56-level mid-day. All counters in the local stock market finished higher, led by the Philippine Stock Exchange index (PSEi), which… Read More
10-year T-bond rate drops ahead of BSP meeting
August 16, 2022, 5:45 pm
MANILA – The rate of 10-year Treasury bond (T-bond) declined on Tuesday on markets’ preference for long-term debt papers. The average rate of the debt paper declined to 5.813 percent from the previous 6.865 percent. The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion… Read More
C. Luzon's 7.9% inflation rate highest since 2018
August 16, 2022, 4:57 pm
CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon climbed to 7.9 percent in July 2022, the highest annual rate recorded in the region since January 2018, the Philippine Statistics Authority-Regional Statistical Services Office (PSA-RSSO) reported on Tuesday. The latest figure… Read More
PH stocks up after US rally, peso slips
August 15, 2022, 9:10 pm
MANILA – The main equities index finished the week’s first trading day higher on hopes for continued deceleration of US inflation rate but the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.57 percent, or 38.18 points, to 6,737.84 points. All Shares… Read More
T-bill rates up ahead of BSP meeting
August 15, 2022, 8:58 pm
MANILA – The rates of Treasury bills (T-bills) rose on Monday ahead of the rate-setting meeting of the Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB). The average rate of the 91-day paper increased to 1.874 percent, the 182-day to 3.226 percent, and the 364-day to 3.712… Read More
PBBM sugar import plan to protect consumers, farmers: Concepcion
August 15, 2022, 8:08 pm
MANILA – Go Negosyo founder Joey Concepcion supports the plan of President Ferdinand “Bongbong” Marcos Jr. to import up to 150,000 metric tons (MT) of sugar only if the supply is depleted by October. Concepcion also backed the President’s decision to block the 300,000 MT sugar importation… Read More
Pump prices set to go down anew this week
August 15, 2022, 6:21 pm
MANILA – Industry players will again roll back oil prices on Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will cut gasoline prices by PHP0.10 per liter and PHP1.05 per liter for diesel. Caltex, Seaoil, and Shell will also… Read More
EJAP, SMC host forum for Marcos economic managers
August 15, 2022, 3:23 pm
MANILA – The Economic Journalists Association of the Philippines (EJAP) and the San Miguel Corp. (SMC) are hosting the first hybrid forum during the pandemic for the Marcos administration’s economic managers. The 2022 EJAP-SMC economic forum, carrying the theme “The Road Ahead: Priorities… Read More
Vehicle sales up double-digit in July ‘22
August 15, 2022, 10:18 am
MANILA – Sales of automotive vehicles in July this year improved by 29.4 percent to 27,813 units from 21,498 units in the same month in 2021. The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) on Monday reported that the… Read More
Lower sugar prices seen in September as milling season begins
August 13, 2022, 1:08 pm
MANILA – The Philippine Chamber of Agriculture and Food Inc. (PCAFI) said sugar prices in the domestic market should start to go down by September as milling operations begin next week. In a radio interview Saturday, PCAFI president Danilo Fausto said sugar millers have a combined capacity of… Read More
OPEC revises down oil demand forecast for 2022
August 12, 2022, 8:32 pm
ANKARA – The Organization of the Petroleum Exporting Countries (OPEC) on Thursday slightly revised its global oil demand estimates for 2022 to average 100.03 million barrels per day (bpd), according to OPEC's latest monthly oil market report. Although the forecast marks a year-on-year rise of… Read More
