Business
Stocks up anew on Q2 economic data; peso ends sideways
August 9, 2022, 7:12 pm
MANILA — The main stocks index rose anew on Tuesday as the domestic economy continued to show resilience following the release of the second-quarter economic growth but the peso finished sideways against the dollar. The Philippine Stock Exchange index (PSEi) jumped by 0.54 percent, or 34.73… Read More
10-year T-bond rate slips on high demand
August 9, 2022, 6:42 pm
MANILA – The rate of the re-issued 10-year Treasury bond (T-bond) fell on Tuesday as demand remained high. The average rate of the debt paper, which has a remaining life of six years and five months, slipped to 5.791 percent from 6.760 percent. The Bureau of the Treasury (BTr) said the… Read More
Marcos admin ironing out policies for investments in energy
August 9, 2022, 6:38 pm
MANILA – The Department of Energy (DOE) has met with other Cabinet members to iron out the country’s regulatory framework in the energy sector, DOE Secretary Raphael Lotilla said Tuesday. In a virtual press conference, Lotilla said he had a virtual meeting with Justice Secretary Jesus Crispin… Read More
DOE to focus on expanding indigenous energy sources
August 9, 2022, 5:54 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla said on Tuesday the agency will focus on expanding and harnessing indigenous energy sources as its long-term strategy toward energy security. In a virtual press conference, Lotilla said the country remains dependent on imported… Read More
Diokno optimistic on PH economic growth
August 9, 2022, 4:09 pm
MANILA – Finance Secretary Benjamin Diokno remains optimistic that the government’s growth target of between 6.5 to 7.5 percent for this year will be achieved, noting the broad-based expansion in the second quarter of the year. Domestic growth, as measured by gross domestic product (GDP),… Read More
PH economy grows 7.4% in Q2 despite headwinds
August 9, 2022, 2:51 pm
MANILA – The country’s gross domestic product (GDP) expanded by 7.4 percent in the second quarter of 2022, as the economy recovered strongly with loosened pandemic restrictions boosting economic activities. In a press briefing Tuesday, Socioeconomic Planning Secretary Arsenio Balisacan said… Read More
BSP reminds public to be vigilant vs. smishing
August 9, 2022, 1:53 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is reminding the public to be vigilant against fraud via unsolicited emails or text messages with links that redirect the mobile user to highly suspicious websites. These include SMiShing, a form of phishing scam where a fraudster sends a text… Read More
PH T-bill rates register mixed results
August 8, 2022, 8:41 pm
MANILA – Rate of the Philippines’ Treasury bills (T-bills) ended mixed on Monday, which was in line with past results as interest rates rise both here and abroad. Average rate of the 91-day paper declined to 1.850 percent but those of the 182-day and 364-day rose to 3.211 percent and 3.635… Read More
PH stocks index starts week up; slight change on PHP-USD rate
August 8, 2022, 8:25 pm
MANILA – The Philippines’ main stocks gauge started the day up and the peso finished the day sideways against the US dollar. The Philippine Stock Exchange index gained 0.45 percent, or 28.74 points, to 6,434.24 points. All Shares followed with a jump of 0.49 percent, or 16.67 points, to… Read More
DITO calls out Globe, Smart for alleged abuse of dominance
August 8, 2022, 5:54 pm
MANILA – DITO Telecommunity, the country’s latest mobile telecommunications provider, has filed complaints before the Philippine Competition Commission (PCC) against two other firms -- Globe Telecom and Smart Communications -- for their alleged abuse of their market dominance through… Read More
Meralco cuts power rates for August
August 8, 2022, 5:32 pm
MANILA – Customers in franchise areas of the Manila Electric Company (Meralco) can expect lower electricity charges this August as the distribution utility announced to cut rates. In an advisory Monday, Meralco said the overall power rate for August decreased by 20.87 centavos to PHP9.5459 per… Read More
Another big-time oil price rollback takes effect Aug. 9
August 8, 2022, 2:49 pm
MANILA – Motorists are set to get a sigh of relief as oil companies will implement a big-time rollback effective Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will reduce diesel prices by PHP2.20 per liter and will also slash… Read More
Moody’s Analytics sees PH economy growing 8.8% in Q2 ‘22
August 8, 2022, 9:59 am
MANILA – Moody’s Analytics forecasts the sustained expansion of the Philippine economy in the second quarter of 2022 at 8.8 percent. In its Asia Pacific Economic Preview for the week covering Aug. 8-12, 2022, the subsidiary of Moody’s Investors Service said the projected growth of the… Read More
PH firm gets US funding to develop up to 3GW wind power
August 6, 2022, 7:51 pm
MANILA – The Philippines’ bid to increase the share of renewable energy among its sources got a boost following the awarding of a grant by the US government to a local firm to develop up to three-gigawatt wind power capacity. In a briefing on Saturday, US Secretary of State Antony J. Blinken… Read More
APEC region's growth to slow down amid uncertainties, crisis
August 5, 2022, 9:11 pm
JAKARTA – Economic growth in the Asia-Pacific Economic Cooperation (APEC) region is expected to slow down this year amid soaring inflation, a protracted war in Ukraine, and heightened uncertainties, according to a new report by the APEC Policy Support Unit. On top of that, the continuing impact… Read More
PSEi ends rally on rebalancing, peso gains
August 5, 2022, 8:47 pm
MANILA – The main equities index ended its rally on Friday after the rebalancing in the local bourse and ahead of the release of the US jobs report but the peso gained against the greenback. After a three-day rally, the Philippine Stock Exchange index (PSEi) lost 1.20 percent, or 77.61 points,… Read More
BSP's 28-day securities rate up on latest rate hike
August 5, 2022, 7:55 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose on Friday, which was traced to the impact of the latest hike in the central bank’s key policy rates. Data released by the BSP showed that the average rate of the debt paper inched up to 3.6439 percent from… Read More
Gov’t to ensure food security, cut transport costs amid inflation
August 5, 2022, 4:05 pm
MANILA – The government is committed to ensuring food security and affordability, and reducing transport and logistics costs to arrest the rise of inflation and protect the Filipino consumers, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority… Read More
BSP vows to fight broadening price pressures
August 5, 2022, 2:26 pm
MANILA – Broadening price pressures due partly to higher oil prices continue to accelerate domestic inflation rate but the Bangko Sentral ng Pilipinas (BSP) committed its readiness to do necessary policy actions to ensure price stability. This, after the Philippine Statistics Authority (PSA)… Read More
Stocks, peso rise ahead of inflation report
August 4, 2022, 8:31 pm
MANILA – The main stocks index sustained its rally on Thursday, a day before the release of the July 2022 domestic inflation rate, while the peso recovered against the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.82 percent, or 53.03 points, to 6,483.11 points. All… Read More
