Business
Mezzanine investor raising P1.5-B for PH medium firms
June 8, 2022, 7:17 pm
MANILA – ARQCapital Partners, a pioneer mezzanine investor in the Philippines, is raising PHP1.5 billion to fund the capital of 50 high-growth medium enterprises over the next two years. In a virtual press conference Wednesday, ARQ founding partner and chief executive officer Edmund Solilapsi… Read More
BSP’s term deposit facility rates rise anew
June 8, 2022, 6:57 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose on Wednesday, but both the seven and 14-day tenors registered oversubscription. Central bank data showed that the average rate of the one-week facility, which is among the central bank’s excess… Read More
Stocks index rises anew; peso still on sideways close
June 8, 2022, 6:33 pm
MANILA – The main equities gauge posted another uptick on Wednesday even with global growth concerns while the peso finished the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.23 percent, or 15.61 points, to 6,769.62 points. All Shares followed… Read More
Fiscal consolidation needed vs. hikes in debt-to-GDP ratio
June 8, 2022, 5:59 pm
MANILA – The increase of the Philippines’ debt-to-gross domestic product (GDP) ratio above the 60 percent international acceptable threshold during the pandemic remains acceptable as long as fiscal consolidation will be pursued. According to the study titled “Fiscal effects of the… Read More
PH, Israel sign investment promotion, protection deal
June 8, 2022, 5:37 pm
MANILA – The Philippines and Israel have vowed to strengthen bilateral economic relations by signing the Investment Promotion and Protection Agreement (IPPA). On Wednesday, the Department of Trade and Industry (DTI) said Secretary Ramon Lopez and Israel Finance Minister Avigdor Lieberman signed… Read More
World economy in 'danger of stagflation,' warns World Bank
June 8, 2022, 1:21 pm
ANKARA – The global economy now faces a danger of stagflation not seen since the 1970s, the World Bank warned on Tuesday. "This time it is facing high inflation and slow growth at the same time," said David Malpass, the bank’s president. The global body on Monday sharply lowered its 2022… Read More
IT-BPM industry revenues surpass recalibrated target
June 8, 2022, 12:55 pm
MANILA – The Philippine information technology and business process management (IT-BPM) sector has reached its 2022 target ahead of schedule as it ended 2021 with revenues amounting to USD29.49 billion. The IT and Business Process Association of the Philippines (IBPAP) reported Wednesday that… Read More
Stocks recover on risk-on sentiments; peso ends sideways
June 7, 2022, 8:16 pm
MANILA – Risk-on sentiments reigned in the local bourse on Tuesday but the peso finished sideways against the US dollar. After sliding for several days due to global growth concerns, among others, the Philippine Stock Exchange index (PSEi) rose by 0.55 percent, or 37.13 points, to 6,754.01… Read More
DOE bats for oil deregulation law review
June 7, 2022, 6:45 pm
MANILA – The Department of Energy (DOE) will ask the 19th Congress to prioritize the review of the oil deregulation law as the agency aims to ease petroleum prices. During the Laging Handa public briefing Tuesday, DOE Undersecretary Gerardo Erguiza Jr. said the agency wants to regain its… Read More
Climate change mitigation crucial to socioeconomic planning: NEDA
June 7, 2022, 6:41 pm
MANILA – Climate change adaptation and mitigation need to be placed at the heart of socioeconomic planning for the country to achieve its 2040 vision of eradicating extreme poverty, the National Economic and Development Authority (NEDA) said Tuesday. “Addressing the triple planetary crisis… Read More
Firm, transport groups roll out 450 modern PUVs in Bicol
June 7, 2022, 6:11 pm
MANILA – Supporting the government’s Public Utility Vehicle Modernization Program (PUVMP), Hyundai Asia Resources Inc. (HARI) and 30 local transport cooperative groups have signed a memorandum of understanding (MOU) for the rollout of more modern PUVs in Bicol. Under the MOU, Hyundai Trucks… Read More
BTr partially awards 5-year T-bond as rate rises
June 7, 2022, 5:37 pm
MANILA – The continued acceleration of the domestic inflation rate made investors demand a higher yield, which resulted in the partial award by the Bureau of the Treasury (BTr) of the five-year Treasury bond (T-bond) on Tuesday. The average rate of the debt paper rose to 5.514 percent from… Read More
Cebu developer ramps up investments as VisMin economy perks up
June 7, 2022, 4:13 pm
CEBU CITY – Seeing post-pandemic full business potentials, a Cebu-based real estate developer is looking to deepen its investments in the Visayas and Mindanao to support the continued economic recovery in these regions. Jose Soberano III, Cebu Landmasters Inc. (CLI) chairman and chief… Read More
May inflation uptick still within forecast: Diokno
June 7, 2022, 4:08 pm
MANILA – Further acceleration of the inflation rate, which rose to 5.4 percent last May, the highest since December 2018, remains within forecast, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. The BSP projected the May 2022 inflation to stay between 5 to 5.8… Read More
EO 171, fuel subsidies help ease global inflationary pressures
June 7, 2022, 1:03 pm
MANILA – The National Economic and Development Authority (NEDA) has highlighted the issuance of Executive Order (EO) No. 171 and the government’s fuel subsidy program in helping ease the impact of global inflationary pressures. The Philippine Statistics Authority (PSA) on Tuesday reported… Read More
PSEi slips on Fed rate hike expectations; peso nearly unchanged
June 6, 2022, 8:59 pm
MANILA – Expectations for continued hikes in the Federal Reserve’s key rates hurt the local stock barometer but the peso finished unchanged against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.36 percent, or 24.52 points, to 6,716.88 points. All Shares followed with a… Read More
BTr fully awards 3, 6-month T-bills
June 6, 2022, 8:46 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the 91-day and 182-day Treasury bills (T-bills) but partially awarded the 364-day tenor during an auction on Monday after investors asked for high yields. It offered all tenors for PHP5 billion each. The auction committee awarded PHP3.924… Read More
Oil jumps as Saudi price hike decision fuels supply concerns
June 6, 2022, 7:57 pm
ANKARA – Oil prices climbed on Monday as Saudi Arabia's decision to raise crude prices for its sales in July increased supply concerns although the OPEC+ group pledged a limited output boost. International benchmark Brent crude was trading at USD120.38 per barrel at 0640GMT for a 0.55 percent… Read More
Financial system improvements allow market to prepare for crisis
June 6, 2022, 7:15 pm
MANILA – Citing the improvements in the financial market in the last three decades, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has underscored the need to be prepared against the risks that come with these changes. During the launch of the systemic risk crisis management… Read More
Economic recovery, lower alert level seen to boost businesses
June 6, 2022, 6:19 pm
MANILA – Food ingredients and plastics manufacturer D&L Industries sees the recovery in the domestic economy and implementation of a lower alert level benefiting its business in the second quarter and the rest of the year. In a virtual press briefing Monday, D&L president and chief executive… Read More
