Business
Oil prices drop as China's Covid-19 measures cue lower demand
June 13, 2022, 7:50 pm
ANKARA – Oil prices decreased on Monday after new mass testing and partial lockdown measures in parts of China signaled lower fuel demand. International benchmark Brent crude was trading at USD120 per barrel at 0705GMT for a 1.65 percent decrease after closing the previous session at USD122.01 a… Read More
Over 1M rice farmers receive P8.2-B aid via DBP, Landbank: DA
June 13, 2022, 6:32 pm
MANILA – The Land Bank of the Philippines (Landbank) and the Development of the Philippines (DBP) have facilitated the distribution of over PHP8.2 billion for the PHP5,000 in direct and unconditional cash aid each to over 1 million qualified small palay farmers from 2019 to 2021, according to… Read More
DTI chief doubts NCR reverting back to Alert Level 2
June 13, 2022, 6:28 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez doubts that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases will revert Metro Manila to Alert Level 2 amid the increasing coronavirus disease 2019 (Covid-19) cases in the National Capital Region… Read More
Big-time oil price hike again this week
June 13, 2022, 3:53 pm
MANILA – Oil companies will implement another big-time price increase on petroleum products this week. Starting Tuesday morning, Caltex, Cleanfuel, PTT Philippines, Seaoil, and Shell will increase gasoline prices by PHP2.15 per liter and PHP4.30 per liter on diesel. Caltex, Seaoil, and Shell… Read More
BCDA remittances to BTr rise to P7.38-B in 2022
June 13, 2022, 2:47 pm
MANILA – The Bases Conversion and Development (BCDA) reported on Monday that the state-owned corporation’s remittance to the National Treasury rose to PHP7.38 billion this year. In a statement, BCDA said this year’s remittance is 60.8 percent higher than the PHP4.59 billion contribution of… Read More
SEC maintains highest COA audit mark for 4th straight year
June 12, 2022, 12:23 pm
MANILA – The Securities and Exchange Commission (SEC) has received an “unmodified opinion” from the Commission on Audit (COA) for the fourth consecutive year, a testament to the commission’s transparent and sound management of public funds. In an independent auditor’s report, state… Read More
BSP 28-day securities rate rises anew
June 10, 2022, 9:29 pm
MANILA – Expectations for more hikes in central banks’ key policy rates again resulted in the hike in the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities. BSP data show that average rate of the debt paper increased to 2.6566 percent during the auction on Friday from 2.5351 percent last… Read More
Cebu mall operators, retailers brace for higher consumer traffic
June 10, 2022, 8:21 pm
CEBU CITY – Metro Cebu is projected to benefit from the retail sector’s recovery being the largest metropolitan hub outside Metro Manila, as mall operators here brace for "revenge" shopping, a property consultancy firm said on Friday. Colliers International said the expansion of its consumer… Read More
PH stocks index falls anew, peso closes at 53-level vs. US dollar
June 10, 2022, 8:02 pm
MANILA – Risk-off sentiments continue to worry investors resulting to net foreign selling and another negative close of the Philippines’ main equities gauge and the weakening of the local currency to the 53-level against the greenback. The Philippine Stock Exchange index (PSEi) shed 3.38… Read More
ATMs in NCR should be polymer-ready by end-'22: BSP exec
June 10, 2022, 7:02 pm
MANILA – Banks in the National Capital Region (NCR) should have their automated teller machines (ATMs) fully capable to service polymer notes by end-2022 while those in areas outside NCR by June 20, 2023. The Bangko Sentral ng Pilipinas (BSP) started issuing the PHP1,000 polymer banknotes last… Read More
BOI cleared from COA report on ‘undistributed’ PPE
June 10, 2022, 4:08 pm
MANILA – The Board of Investments (BOI) reported the agency is already cleared from the Commission on Audit (COA) report that it has undistributed personal protective equipment (PPE) donated by China’s Panhua Group as of end-2021. In a press conference on Friday, Trade Undersecretary and BOI… Read More
3 Israeli firms to create over 1K jobs in PH
June 10, 2022, 3:04 pm
MANILA – At least 1,100 jobs will be created in the Philippines as three Israeli companies have expressed their interest to expand their operations in the country. Economic Attaché and Head of the Economic Mission of the Israel Embassy Tomer Heyvi said Friday software development company… Read More
JEC to develop roadmap on boosting PH, Israel economic ties
June 10, 2022, 1:50 pm
MANILA – The Philippines and Israel will craft a roadmap to boost trade and investment relations between the two countries through their new Joint Economic Commission (JEC). Israel Ambassador to the Philippines Ilan Fluss said in an interview Friday the first JEC meeting between the two… Read More
Stocks slip anew, peso keeps footing vs. US dollar
June 9, 2022, 8:29 pm
MANILA – Risk-off sentiments resulted in the negative close of the main equities index but the peso remained firm against the US dollar on Thursday. The Philippine Stock Exchange index (PSEi) shed by 0.16 percent, or 11.03 points, to 6,758.59 points. All Shares went down by 0.12 percent, or 4.18… Read More
Pawnshop loans rise further due to pandemic
June 9, 2022, 8:19 pm
MANILA – Loans provided by pawnshops increased year-on-year by PHP4 billion in 2021 as more people needed immediate fund augmentation during the pandemic. In a virtual briefing on Thursday, Bangko Sentral ng Pilipinas (BSP) Financial Supervision Department 9 Director Dindo Santos said their… Read More
PH exports in April sustained growth at 6%
June 9, 2022, 8:11 pm
MANILA – Philippine merchandise exports grew by 6 percent in April, with a value reaching USD6.1 billion, based on preliminary data from the Philippine Statistics Authority (PSA). Of the USD348 million additional exports in April 2022, coconut products contributed USD164 million or 47 percent of… Read More
BSP to use economy-related news in policy formulation
June 9, 2022, 8:06 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is set to utilize sentiments on the macroeconomic front through news articles to further strengthen its economic policy formulation. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno said the News Sentiment Index (NSI) is part of the… Read More
ADB approves financing for South Commuter Railway Project
June 9, 2022, 6:53 pm
MANILA – The Asian Development Bank (ADB) has approved up to $4.3 billion to help finance the construction of nearly 55 kilometers (km) of modern suburban railway line connecting Metro Manila with the city of Calamba. The investment in the South Commuter Railway Project, which is part of the… Read More
Central Luzon inflation rate rises to 6.7% in May
June 9, 2022, 5:46 pm
CITY OF SAN FERNANDO, Pampanga – The inflation in Central Luzon climbed to 6.7 percent in May 2022, the highest annual rate recorded in the region since January 2019, the Philippine Statistics Authority-Regional Statistical Services Office (PSA-RSSO) reported on Thursday. The latest figure was… Read More
SEC expands online payment options
June 9, 2022, 3:04 pm
MANILA – The Securities and Exchange Commission (SEC) continues to add new options for its online payment system, making payment for registration and transaction fees faster and more convenient for the public. Clients can now use their GCash payment wallets to settle registration and other… Read More
