Business
SEC stops Wellcons illegal investment scheme
July 6, 2022, 12:57 pm
MANILA – The Securities and Exchange Commission (SEC) has ordered Wellcons Unlimited Systems, Inc. to stop offering investment packages to the public without the necessary license from the Commission. In an order dated June 23, the Commission en banc directed Wellcons to immediately cease and… Read More
Oil mixed amid supply and demand woes
July 5, 2022, 8:41 pm
ANKARA – Oil prices were mixed on Tuesday on low supply fears due to a strike in Norway’s oil and gas sector while the outlook of a global economic recession continues to fan weak demand woes. International benchmark Brent crude was trading at $113.04 per barrel at 0705 GMT for a 0.40 percent… Read More
Supply-side pressures to further accelerate inflation: BSP
July 5, 2022, 8:20 pm
MANILA – An inflation rate uptick to 6.1 percent in June was expected and it is seen to further accelerate mainly on the continued rise of commodity prices, the Bangko Sentral ng Pilipinas (BSP) said. The latest inflation print is higher than the previous month’s 5.4 percent, bringing the… Read More
PH boosts interventions on supply sufficiency, agri productivity
July 5, 2022, 8:05 pm
MANILA – The Philippine government is committed to ensuring a stable food supply and mitigating the impact of rising commodity prices amid the global energy crisis, the National Economic and Development Authority (NEDA) said. As reported by the Philippine Statistics Authority (PSA) Tuesday,… Read More
PSEi up as inflation within expectations; peso weakens
July 5, 2022, 8:01 pm
MANILA – The main equities index rose anew on Tuesday, leading a positive close for all counters in the local bourse, but the peso weakened against the greenback. The Philippine Stock Exchange index (PSEi) increased by 2.04 percent, or 126.37 points, to 6,309.99 points. All Shares followed… Read More
4-year T-bond rate rises on more BSP rate hike expectations
July 5, 2022, 7:18 pm
MANILA – Government securities rate continued to rise on Tuesday and National Treasurer Rosalia de Leon pointed to more rate hike expectations from the central bank. The four-year Treasury bond (T-bond) rose to 5.908 percent from 5.514 percent previously. The Bureau of the Treasury (BTr)… Read More
AMRO hikes 2022 GDP forecast for PH
July 5, 2022, 6:57 pm
MANILA – The Asean+3 Macroeconomic Research Office (AMRO) has hiked its 2022 growth forecast for the Philippine economy amid slashing its projection for the Asean+3 on account of the Russia-Ukraine conflict and tighter global financial situation. It now sees a 6.9 percent expansion, as… Read More
IPOPHL opens new IP satellite office in Calabarzon
July 5, 2022, 3:26 pm
MANILA – The Intellectual Property Office of the Philippines’ (IPOPHL) has established its 15th Intellectual Property (IP) Satellite Office (IPSO) in Calabarzon to help increase IP protection activities in the most populous region of the country. “IPSOs are at the forefront of bringing our… Read More
PH should find niche market for e-vehicle production
July 5, 2022, 2:14 pm
MANILA – The Philippines should find a niche market in manufacturing electric vehicles rather than competing with its Asean neighbors, an industry player said. AC Motors president Antonio Zara said the country can focus on the assembly of electric commercial vehicles rather than passenger cars… Read More
SEC clears LFM Properties listing by way of introduction
July 4, 2022, 8:16 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the listing of LFM Properties Corporation on the stock exchange by way of introduction. In its meeting on June 28, the commission en banc rendered effective the registration statement of LFM Properties covering up to… Read More
Above 5.5% inflation rate seen until yearend
July 4, 2022, 7:53 pm
MANILA – The inflation rate is expected to post higher levels of at least 5.5 percent in the second and third quarter of 2022 due in part to rising oil prices in the international market. Based on the June 2022 issue of the Market Call released on Monday, inflation further surpassed the… Read More
PH stocks up ahead of US holiday; peso sideways
July 4, 2022, 7:40 pm
MANILA – The main stocks index started the week on a positive note amid the lack of drivers from the United States given its Independence Day holiday, while the peso moved sideways against the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.30 percent, or 18.27 points, to… Read More
Balisacan’s return as NEDA chief welcomed
July 4, 2022, 6:47 pm
MANILA – The National Economic and Development Authority (NEDA) hails the appointment of Arsenio Balisacan as the country’s Socioeconomic Planning Secretary under President Ferdinand Marcos Jr.’s administration. In his statement during the NEDA turnover ceremony on Monday, the returning… Read More
Bulacan Airport City project can register with PEZA: Plaza
July 4, 2022, 6:39 pm Updated on July 4, 2022, 8:09 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza has offered another way for the Bulacan Airport City project to be declared as special economic zone after President Ferdinand “Bongbong” Marcos Jr. vetoed House Bill 7575 creating the Bulacan Airport City… Read More
Diokno confident Medalla to sustain game-changing reforms in BSP
July 4, 2022, 4:39 pm
MANILA – Finance Secretary Benjamin Diokno said Monday he is confident that new Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla will continue the game-changing reforms he implemented under his previous leadership of the institution, which include its rapid shift to digitalization and… Read More
T-bill rates rise anew
July 4, 2022, 4:09 pm
MANILA – The rates of Treasury bills (T-bills) rose on Monday but all tenors were fully awarded during the auction. The average rate of the 91-day debt paper rose to 1.908 percent, the 182-day to 2.608 percent, and the 365-day to 2.811 percent. These were at 1.855 percent, 2.400 percent,… Read More
Rollback set this week after big-time fuel price hikes
July 4, 2022, 3:26 pm
MANILA – After four straight weeks of big-time price hikes, oil companies will roll back petroleum prices starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell announced they will cut diesel prices by PHP3 per liter. Caltex, Seaoil,… Read More
DTI’s Pascual retains 5 undersecretaries
July 4, 2022, 2:58 pm
MANILA – As part of his priorities to restructure the agency, new Department of Trade and Industry (DTI) Secretary Alfredo Pascual has reduced the number of undersecretaries from seven to five. According to the updated DTI website, Pascual retained Undersecretary Ceferino Rodolfo for Industry… Read More
Incoming DBM chief extends condolences to Andaya family
July 1, 2022, 8:22 pm
MANILA – Incoming Budget and Management Secretary Amenah Pangandaman on Friday extended her condolences to the family of the late Budget Chief and Camarines Sur Representative Rolando Andaya Jr. In a statement, she said Andaya, 53, was “dedicated to serving the Filipino people” and “is… Read More
New DTI chief bares 5 priority programs
July 1, 2022, 5:14 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has identified his priority areas as the new chief of the agency. During the turnover ceremony on Wednesday, which was only broadcast on Friday, Pascual cited that his priorities as new DTI chief would are the development… Read More
