Business
PH manufacturing conditions improve for 5 straight months
July 1, 2022, 2:43 pm
MANILA – The performance of the domestic manufacturing sector has improved for five consecutive months in June this year, according to S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI). Philippine manufacturing PMI in June recorded a score of 53.8 amid a solid rise in… Read More
Minimal rollback on LPG prices in July
July 1, 2022, 8:00 am
MANILA – Industry players implemented a minimal price rollback on liquefied petroleum gas (LPG) for July. Starting at 12:01 a.m. Friday, Petron implemented a decrease of PHP0.40 per kilogram on LPG. It also slashed AutoLPG prices by PHP0.22 per liter. “These reflect the international contract… Read More
PSEi slips on Fed rate hike, global growth concerns; peso firm
June 30, 2022, 8:23 pm
MANILA – Global economic growth concerns and Federal Reserve’s key rate decisions again hit the main equities index but the local currency managed to end sideways against the US dollar after ending the day at 54-level. The Philippine Stock Exchange index (PSEi) shed by 2.34 percent, or 147.76… Read More
Investment management firm exec eyes aggressive BSP hike
June 30, 2022, 8:07 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is expected to announce a more aggressive key rate hike in the coming months to help temper not just the accelerating inflation rate but the peso depreciation as well. In a virtual briefing on Thursday, Sun Life Investment Management and Trust… Read More
PCCI urges Marcos admin to pursue ease of doing biz efforts
June 30, 2022, 6:12 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, is urging the new administration to continue policies and measures of the Anti-Red Tape Authority (ARTA). In a statement Thursday, PCCI president George Barcelon hoped the government… Read More
BSP eyes June inflation at 5.7%-6.5%
June 30, 2022, 6:09 pm
MANILA – Sustained jumps in oil prices and their impact on power rates are expected to push mainly the June 2022 domestic inflation rate to between 5.7 percent to 6.5 percent. In a statement on Friday, the Bangko Sentral ng Pilipinas (BSP) said “higher prices of key food items and peso… Read More
KTM now producing motorcycle engines in PH
June 30, 2022, 5:20 pm
MANILA – Engines of KTM motorcycles are now being produced in the country through the partnership of KTM Asia Motorcycle Manufacturing, Inc. (KAMMI) and Ayala-led Integrated Microelectronics Inc. (IMI), Adventure Cycle Philippines, Inc. (ACPI) president Andre Angelo Santos said. Santos said… Read More
Peso still competitive; weakness benefits exporters, OFWs: Diokno
June 30, 2022, 5:02 pm
MANILA – Incoming Finance chief Benjamin Diokno said the depreciation of the peso is not that bad as it remains in the middle of the pack compared to other currencies of Asian neighbors, adding the local currency is still competitive. The local currency weakened to 55-level against the US dollar… Read More
Oil prices retreat with fears of global economic slowdown
June 29, 2022, 8:23 pm
ANKARA – Oil prices dropped on Wednesday as heightened concerns of a recession in big economies outweighed misgivings of tight global supplies due to sanctions on Russia. International benchmark Brent crude was trading at $113.50 per barrel at 0615 GMT for a 0.26 percent decrease after closing… Read More
BSP’s term deposit facility rates rise anew
June 29, 2022, 8:02 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose on Wednesday, which a ranking central bank executive said was in line with the rising interest rates. Data released by the BSP showed that the average rate of the seven-day facility increased to… Read More
Stocks index, peso weaken on correction
June 29, 2022, 7:59 pm
MANILA – Both the main equities index and the peso weakened on Wednesday, with the local currency dipping to 55-level due to the correction in the local bourse. After a three-day rally, the Philippine Stock Exchange index (PSEi) lost 0.67 percent, or 42.22 points, to 6,303.19 points. All… Read More
IT-BPM sector driving demand for PH's real estate growth
June 29, 2022, 7:10 pm
MANILA – The information technology-business process management (IT-BPM) sector drove office demand in the Philippines’ real estate sector in the second quarter of 2022, officials of a real estate brokerage services firm said. In a virtual briefing on Wednesday, Leechiu Property Consultants… Read More
More German firms say biz in PH in ‘good situation’
June 29, 2022, 6:42 pm
MANILA – The number of German firms operating in the Philippines saying their business is in a “good situation” has increased based on the World Business Outlook (WBO) Spring 2022 survey of the German-Philippine Chamber of Commerce and Industry (GPCCI). About 47 percent of the surveyed… Read More
CDA eyes to hike budget to P2.5-B in 2023
June 29, 2022, 4:25 pm
MANILA – The Cooperative Development Authority (CDA) is eyeing hiking its budget to PHP2.5 billion next year, its chairman Joseph Encabo told the Philippine News Agency. Encabo said the PHP2.5-billion allocation for next year is more than double compared to the agency’s budget of nearly PHP1… Read More
Auto industry seen to grow despite rising oil prices, supply woes
June 29, 2022, 4:21 pm
MANILA – The country’s automotive industry is expected to continue its growth this year despite the rising oil prices and supply constraints in the global value chain being experienced across the world. AC Motors president Antonio Zara said in an interview on the sidelines of the launching of… Read More
BSP urges supervised institutions to adopt cyber attacks measures
June 29, 2022, 3:29 pm
MANILA – As financial transactions increasingly shift to digital channels, the Bangko Sentral ng Pilipinas (BSP) has enjoined BSP-supervised financial institutions (BSFIs) to adopt robust control measures against cyber fraud and attacks on retail electronic payments and financial services… Read More
UK trade official eyes stronger partnership with PH through GCash
June 29, 2022, 3:20 pm
MANILA – The United Kingdom (UK) is eyeing to strengthen its trade partnership with the Philippines through partners in the financial technology sector. In a statement on Tuesday, GCash president and CEO Martha Sazon said the company represented the Philippines in an “intimate" roundtable… Read More
BOC reforms help boost collection efficiency, stop agri smuggling
June 29, 2022, 2:49 pm
MANILA – Commissioner Rey Leonardo Guerrero said several reforms initiated by the Bureau of Customs (BOC) under his leadership have helped improve the collection efficiency of the agency and ably assisted in the Duterte administration’s sustained efforts to curb agricultural… Read More
SEC upholds shutdown order vs. Rappler
June 29, 2022, 10:50 am
MANILA – The Securities and Exchange Commission (SEC) on Tuesday night affirmed the administrative penalties slapped against Rappler, Inc. and Rappler Holdings Corp. (RHC), as well as the revocation of their Certificates of Incorporation. According to the latest SEC decision signed by SEC Chair… Read More
Oil prices increase with new G7 sanctions on Russia
June 28, 2022, 8:13 pm
ANKARA – Oil prices surged on Tuesday amid likely sanctions on Russia by G7 countries, including a price cap on oil exports. International benchmark Brent crude was trading at USD112.62 per barrel at 0640 GMT for a 1.48 percent increase after closing the previous session at USD110.98 a… Read More
