Business
Oil firms adjust fuel, LPG prices
August 1, 2022, 12:37 pm
MANILA – Oil companies announced adjustments on prices of liquefied petroleum gas (LPG) and petroleum products at the start of August. Petron said it cut LPG prices by PHP2.05 per kilogram and PHP1.15 per liter for AutoLPG. Petron’s price rollback started at 12:01 a.m. on Monday. “These… Read More
Jupiter cable: PH’s newest data link to US, Japan now online
July 30, 2022, 12:04 pm
MANILA – The newest international cable system in the Philippines went officially online after PLDT launched the system on Friday. In a statement, PLDT said the Jupiter Cable system has been “fired up” and is seen to “immensely boost” the country’s international data capacity and… Read More
BSP eyes July inflation at 5.6% to 6.4%
July 30, 2022, 11:09 am
MANILA – Sustained rise in food prices and transport fares, among others, are seen to push the domestic rate of price increases this month to a range of 5.6 percent to 6.4 percent. In a statement Friday night, the Bangko Sentral ng Pilipinas (BSP) said the depreciation of the peso, which is… Read More
PH stocks slip on weaker US GDP; peso gains
July 29, 2022, 9:08 pm
MANILA – The main equities index ended its rally on Friday on softer US second quarter growth while the peso gained against the US dollar. The Philippine Stock Exchange index (PSEi) declined by 0.99 percent, or 63.33 points, to 6,315.93 points. All Shares slipped by 0.76 percent, or 26.14… Read More
Oil steady as investors eye OPEC+ meeting next week
July 29, 2022, 7:31 pm
ANKARA – Oil prices showed marginal gains on Friday as investors await the OPEC (Organization of the Petroleum Exporting Countries) + meeting next week when the world’s biggest oil producers will decide their output regime for September. International benchmark Brent crude was trading at… Read More
Private sector plays vital role in digital transformation
July 29, 2022, 6:51 pm
MANILA – Department of Trade and Industry (DTI) Alfredo Pascual said the private sector has a crucial role to play in accelerating the adoption of digital technology in the country. In an event in Taguig City Thursday, Pascual reiterated that digital transformation is part of the Marcos… Read More
Toyota leads global sales from Jan-June for 3rd year in a row
July 29, 2022, 6:06 pm
NAGOYA – The Toyota Motor Corp. group is certain to lead global auto sales in the first half of 2022, topping the list ahead of German rival Volkswagen AG for the third straight year, amid a global chip shortage and Covid-19 lockdowns in China, industry data showed Thursday. The Japanese… Read More
Malampaya acquisition deal signed
July 29, 2022, 4:58 pm
MANILA – A subsidiary of Enrique Razon Jr.-led company has signed a share purchase agreement to formalize the acquisition of stakes in Malampaya gas field from Dennis Uy’s firm. In a statement Friday, Prime Infrastructure Capital, Inc. bared that its unit, Prime Exploration Pte. Ltd., sealed… Read More
Rising income to boost food, groceries delivery in PH
July 29, 2022, 2:57 pm
MANILA – Food and groceries delivery is expected to grow further even if movement restrictions have been eased as disposable income and urbanization in the Philippines are projected to sustain their expansion. In a report dated July 28, Fitch Solutions Country Risk and Industry Research said… Read More
Convenience store operator ramps up expansion
July 28, 2022, 8:16 pm
MANILA – Philippine Seven Corporation (PSC), the exclusive licensor of 7-Eleven stores in the country, is ramping up spending and opening more stores, bullish about continued growth as the government plans no another lockdown. “The President’s (Ferdinand Marcos Jr.) announcement that no more… Read More
PH stocks up after Fed rate hike; peso slips
July 28, 2022, 7:58 pm
MANILA – Risk-on sentiments buoyed the local bourse on Thursday due in part to the additional hike in the Federal Reserve’s key rates but the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) jumped by 2.28 percent, or 142.50 points, to 6,379.26 points. All… Read More
More BSP rate hikes seen to address peso weakness, inflation
July 28, 2022, 6:40 pm
MANILA – Additional increases in the Bangko Sentral ng Pilipinas’ (BSP) key rates are expected not only to help address the accelerating inflation rate but also the peso weakness, given the continued hikes in the Federal Reserve’s fund rate. In a virtual briefing on Thursday, Bank of the… Read More
Firm sees recovery in PH property sector in 2022
July 28, 2022, 6:29 pm
MANILA – The recovery of the property sector is expected to continue this year as the government eased pandemic-related restrictions and plans no another lockdown, a real estate advisory firm said Thursday. In a briefing, Colliers Philippines reported that a quicker pace of recovery is seen in… Read More
Creative industries to help in economic recovery: DTI chief
July 28, 2022, 3:16 pm
MANILA – The Department of Trade and Industry (DTI) believes that the creative industries will play a vital role in the economic recovery, the agency’s chief said on Thursday. During the Creative Futures 2022 Conference, DTI Secretary Alfredo Pascual said the pandemic brought adverse impacts… Read More
BSP to utilize all measures vs. risks in inflation, peso
July 28, 2022, 3:14 pm
MANILA – All possible measures to rein in risks to inflation will be tapped following another 75 basis point increase in the Federal Reserve’s key rates, which is seen to negatively impact the Philippine peso. In a statement on Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Felipe… Read More
Another 'unusually large' rate hike possible at next Fed meeting
July 28, 2022, 12:31 pm
ANKARA – US Federal Reserve Chair Jerome Powell said Wednesday that another "unusually large" interest rate increase is possible at the central bank's next meeting in September. "While another unusually large increase could be appropriate at our next meeting, that is a decision on the data we… Read More
BSP TDF rates rise anew
July 27, 2022, 7:42 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose anew on Wednesday and bids remained low. The average rate of the seven-day facility rose to 3.3839 percent from 3.2459 percent during the auction last July 20. The average rate of the 14-day tenor… Read More
Bargain hunting lifts PSEi, peso slips ahead of Fed decision
July 27, 2022, 6:58 pm
MANILA – Bargain hunting lifted the local stock barometer on Wednesday amid worries about the US economy, while the peso weakened but managed to remain at the 55-level against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.22 percent, or 13.76 points, to 6,236.76… Read More
Rising interest rates benefit short-term bond investors
July 27, 2022, 6:22 pm
MANILA – Expectations for continued interest rate increases due in part to the accelerating inflation rate are expected to benefit short-term bond investors. “Fixed income returns for those bond investors could improve. The bridge continues to go up. For those who are in short-term funds,… Read More
IMF cuts 2022 global growth forecast to 3.2%
July 27, 2022, 5:07 pm
WASHINGTON – The International Monetary Fund (IMF) on Tuesday slashed the global growth forecast for 2022 to 3.2 percent, down by 0.4 percentage point from the April projection, according to its newly released update to the World Economic Outlook (WEO). Several shocks have hit the world economy… Read More
