Business
Oil volatile on rising US stocks, supply uncertainty
August 3, 2022, 8:14 pm
ANKARA – Oil prices fluctuated in early trade on Wednesday over an expected rise in US crude oil inventories in the world’s largest oil-consuming country and supply uncertainties ahead of a much-expected meeting of the OPEC+ group. International benchmark Brent crude was trading at $100.52… Read More
Diokno banks on mining for sustained economic recovery, expansion
August 3, 2022, 7:49 pm
MANILA – Finance Secretary Benjamin Diokno said the mining industry is a potential source of sustained economic growth as he underscored the benefit of mobilizing investments for mine development. “The mining industry holds the greatest potential to be a key driver in our economic recovery… Read More
TDF rates rise anew ahead of inflation, GDP reports
August 3, 2022, 7:36 pm
MANILA – Demand for shorter tenor term deposit facility (TDF) was evident in the auction on Wednesday but the rate of both the seven- and 14-day facilities rose, which was attributed to the wait-and-see stance for major economic reports. The Bangko Sentral ng Pilipinas (BSP) data show that… Read More
P1-B dev’t project to generate jobs in Naga City
August 3, 2022, 7:08 pm
NAGA CITY – A PHP1-billion mixed-use real estate development project of one of the country’s largest developers, will rise along Roxas Avenue in Barangay Triangulo, Naga City. Mayor Nelson Legacion, in an interview on Wednesday, said the Filinvest Land Incorporated project goes along with the… Read More
US securities regulator charges individuals over pyramid scheme
August 3, 2022, 6:48 pm
MANILA – The US Securities and Exchange Commission (SEC) has charged the founders and promoters of the fraudulent pyramid scheme operated by Forsage, following an investigation conducted with the assistance of the SEC Philippines. In a statement issued Aug. 1, the US SEC said it charged 11… Read More
PH stocks up on bargain hunting; peso slips anew
August 3, 2022, 6:30 pm
MANILA – Bargain hunting again boosted the local stock barometer on Wednesday partly on worries on US-China relations following US House Speaker Nancy Pelosi’s visit to Taiwan, while the peso weakened against the greenback. The Philippine Stock Exchange index (PSEi) rose by 1.07 percent, or… Read More
Weaker peso offsets impact of high inflation on consumer spending
August 3, 2022, 5:33 pm
MANILA – The peso’s weakness is expected to counter the impact of higher domestic inflation rate as the former can boost consumer’s spending power, especially those of overseas Filipino workers’ (OFWs) beneficiaries. According to the July 2022 issue of The Market Call, the joint… Read More
SSS expands contribution payment thru mobile app, online channels
August 3, 2022, 4:20 pm
MANILA – The state-run Social Security System (SSS) said Wednesday members could now pay their contributions through its mobile and other online channels. In a statement, SSS president and CEO Michael Regino said individual members – self-employed, voluntary, non-working spouses, and… Read More
Targeted cash transfer subsidy to mitigate inflation impact: NEDA
August 3, 2022, 3:00 pm
MANILA – The release of targeted subsidies to the most vulnerable Filipino families will help cushion the impact of elevated prices of oil and other commodities, the National Economic and Development Authority (NEDA) said. The Department of Budget and Management (DBM) approved the release of… Read More
Non-performing consumer loans put more pressure on PH banks
August 2, 2022, 8:42 pm
MANILA – Non-performing loans (NPLs) that were extended to small companies are putting more pressure on Philippine banks compared to those extended to large companies, a report by the Fitch Ratings said. In a report that assessed the impact of interest rate hikes in Asia Pacific banks, which… Read More
Oil extends losses from weak industrial data
August 2, 2022, 8:03 pm
ANKARA – Oil prices continued losses on Tuesday over weaker-than-expected industrial data from big economies, raising global recession concerns. International benchmark Brent crude was trading at USD99.14 per barrel at 9:47 a.m. local time (0647 GMT) for a 0.89 percent decrease after the… Read More
3.5-year T-bond rate slips
August 2, 2022, 8:01 pm
MANILA – The rate of 3.5-year Treasury bond (T-bond) declined on Tuesday, which an economist said is in line with latest developments on government security yields both here and in the US. The average rate of the debt paper slipped to 5.153 percent from 5.908 percent previously. The Bureau… Read More
PH stocks up on bargain hunting, peso slips
August 2, 2022, 7:13 pm
MANILA – The main equities index recovered on Tuesday on bargain hunting after sliding for several days but the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) improved by 0.80 percent, or 50.27 points, to 6,362.30 points. All Shares followed with a jump of… Read More
EU Commission chief warns of total cut in Russian gas supply
August 2, 2022, 6:11 pm
BRUSSELS – EU Commission chief Ursula von der Leyen warned on Monday that the bloc needs to prepare for the “worst scenario” when it comes to Russian gas supply over the winter. “We must all be prepared for the worst situation with gas,” von der Leyen said in an interview with Spanish… Read More
Bonds, REITs seen to perform better than stocks
August 1, 2022, 8:59 pm
MANILA – Bonds and real estate investment trusts (REITs) are expected to perform better than stocks until the second half of the year as the majority of retail investors plan to increase stock exposure amid inflation concern, according to an online stockbroker. In a virtual press briefing… Read More
T-bill rates post mixed results
August 1, 2022, 8:43 pm
MANILA – The rates of Treasury bills (T-bills) posted mixed results on Monday, which an economist traced to comparable path of local interest rates on hints of additional hikes in the coming weeks. The average rate of the 91-day T-bill declined to 2.090 percent from 2.273 percent during the… Read More
PSEi ends flat, peso weakens ahead of economic reports
August 1, 2022, 7:26 pm
MANILA – The local stock barometer ended Monday flat ahead of several economic reports for the week while the peso slipped against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.06 percent, or 3.9 percent, or 6,312.03 points. All Shares also dipped by 0.17 percent, or 5.9… Read More
SEC cancels Flying Bear Lending license, corporate registration
August 1, 2022, 7:22 pm
MANILA – The Securities and Exchange Commission (SEC) has cancelled the lending license and corporate registration of Flying Bear Lending Corp., operating as Yopeso, Morepeso and Rapidpeso, over its failure to disclose its online lending platforms (OLPs) to the commission. In an order dated June… Read More
Economic managers cite gains during Ramos' term
August 1, 2022, 5:11 pm
MANILA – Economic reforms instituted during the Ramos administration paved the way for the government to embrace as a development vision the improvement of quality of life of every Filipino. Budget and Management Secretary Amenah Pangandama, in a statement on the passing of former President… Read More
PH logs uptick in manufacturing score in July
August 1, 2022, 3:39 pm
MANILA – The Philippines’ Manufacturing Purchasing Managers Index (PMI) in July 2022 registered a slight improvement, S&P Global reported Monday. The country’s manufacturing performance last month was pegged at 50.8, lower than the 53.8 index in June this year. PMI above 50 indicates… Read More
