Business
BSP opens currency exchange facility for Pinoys from Ukraine
May 16, 2022, 8:05 pm
MANILA – As part of the BSP’s initiative to help overseas Filipinos (OFs) affected by the Russia-Ukraine conflict, the Monetary Board approved the opening of a Ukrainian Hryvnia (UAH) currency exchange facility (CEF). The facility allows returning OFs from Ukraine and their families to… Read More
PSE index up on risk-on sentiment; peso ends sideways
May 16, 2022, 7:54 pm
MANILA – Risk-on sentiment ahead of earnings reports, sales, and US’ housing data mainly lifted the local stock barometer on Monday while the peso finished sideways against the US dollar. After posting negative finishes last week, the Philippine Stock Exchange index (PSEi) recovered and rose… Read More
BTr rejects bids to T-bills on investors high yield demand
May 16, 2022, 7:07 pm
MANILA – Bids for Treasury bills (T-bills) were rejected across the board on Monday after investors asked for a high yield ahead of the policy meeting of the Bangko Sentral ng Pilipinas’ (BSP) Monetary Board (MB). Had the auction committee awarded the debt papers, the average rate of the… Read More
DTI-Negros issues new suggested retail prices
May 16, 2022, 3:58 pm
DUMAGUETE CITY – The prices of basic necessities and prime commodities here have gone up following the latest adjusted suggested retail prices (SRPs) issued by the Department of Trade and Industry (DTI). Nimfa Virtucio, DTI-Negros Oriental provincial director, told the Philippine News Agency on… Read More
P3 rollback on diesel set this week
May 16, 2022, 2:05 pm
MANILA – Motorists can expect big-time price rollback on diesel products starting on Tuesday. This, as oil firms Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell announced that they will slash diesel prices by PHP3.10 per liter. However, the rollback for this week is lower than the… Read More
Liberalized rice trading lowers staple food price for Filipinos
May 15, 2022, 3:54 pm
MANILA – The passage and implementation since 2019 of the Rice Tariffication Law (RTL) has slashed prices of the country’s staple food to the current average of PHP39 per kilogram (kg) or a reduction of about PHP7 per kilogram compared to its cost in 2018 when it peaked to a per-kilo retail… Read More
PH urged to integrate cybersecurity in smart city planning
May 15, 2022, 3:20 pm
MANILA – Urban planners are urged to integrate cybersecurity investments in smart city blueprints to avoid attacks on the operational technology infrastructure of the country’s future smart cities, a cybersecurity firm said. Cyfirma president for delivery and operations Saurabh Lal told the… Read More
Asean, US commit to facilitate resilient global supply chains
May 15, 2022, 12:01 pm
ANKARA – The Association of Southeast Asian Nations (Asean) and the United States (US) announced Saturday that they are committed to facilitating resilient global supply chains. "We are committed to continuing to cooperate to promote trade and investment and facilitating resilient global supply… Read More
Export restrictions worsen global food crisis, UN warns
May 14, 2022, 12:20 pm
ROME – A top United Nations (UN) official on Friday warned countries against restricting food exports, saying these are the wrong response to a global food crisis that is escalating due to the ongoing Russia-Ukraine war that started on Feb. 24. Poorer nations have had to grapple with rising… Read More
PSEi down, peso sideways on Friday
May 13, 2022, 10:25 pm
MANILA – The Philippine Stock Exchange index (PSEi) shed for four straight days, closing this week’s trading 2.34 percent lower. PSEi ended Friday losing 153.13 points to 6,379.17, with all shares down by 1.7 percent (59.81 points) to 3,457.40. “Philippine shares extended their losses as… Read More
ADB identifies 5 sectors to help ASEAN+3 in post-pandemic growth
May 13, 2022, 7:44 pm
MANILA – The Asian Development Bank (ADB) has identified five key sectors that will propel post-coronavirus disease 2019 (Covid-19) economic growth for Association of Southeast Asian Nations (ASEAN)+3 countries, including the Philippines. In a joint webinar of the ADB and ASEAN+3 Macroeconomic… Read More
AmCham to continue working with gov’t for economic growth
May 13, 2022, 7:42 pm
MANILA – Following the national and local elections last Monday, the American Chamber of Commerce of the Philippines (AmCham) has expressed its willingness to continue its support to the government to sustain the country’s economic growth. “As a foreign business chamber, we will strive to… Read More
8.3% GDP growth to bolster biz confidence despite admin shift
May 13, 2022, 3:30 pm
MANILA – An economist of Juwai IQI Global has seen the country’s 8.3-percent gross domestic product (GDP) growth in the first quarter of the year as a good launch pad for the next administration to pursue its economic agenda. The chief economist of the Kuala Lumpur-based Juwai IQI Global, Shan… Read More
PSEi dips on worries over US elevated inflation, peso follows
May 12, 2022, 8:46 pm
MANILA – Positive first-quarter economic growth failed to counter investors’ worries on the elevated inflation in the United States, pulling further down the local stock barometer which the peso mirrored. The Philippine Stock Exchange index (PSEi) lost 1.56 percent, or 103.56 points, to… Read More
Whole-of-gov’t approach boosts Q1 economic growth: Diokno
May 12, 2022, 8:43 pm
MANILA – Bold and decisive fiscal and monetary actions helped lift further the Philippine economy’s growth in the first quarter of 2022 to 8.3 percent, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. “The 8.3-percent GDP (gross domestic product) growth in the first quarter… Read More
Car industry up 40% in April 2022
May 12, 2022, 7:05 pm
MANILA – For two straight months, sales of local vehicle assemblers recorded an over 40 percent growth as April 2022 sales rose by 40.9 percent, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported Thursday. Vehicle sales… Read More
Fitch Ratings eyes next admin to keep PH's sound policy framework
May 12, 2022, 7:02 pm
MANILA – Fitch Ratings eyes the continuation of the government’s infrastructure program, which is deemed as a key element of the economy’s favorable medium-term prospects, in the incoming administration. In a report dated May 12, the debt rater said presidential candidate Ferdinand Marcos… Read More
MBC drafts recommendations to sustain GDP growth for next admin
May 12, 2022, 6:58 pm
MANILA – The Makati Business Club (MBC) is looking forward to collaborate with both public and private sectors to ensure that the economic recovery will be sustained in the next quarters even with a change in the administration. This, as the government reported Thursday that gross domestic… Read More
Fraud monitoring system for financial institutions now required
May 12, 2022, 4:54 pm
MANILA – Financial institutions (FIs) regulated by the Bangko Sentral ng Pilipinas (BSP) are now required to have an automated and real-time fraud monitoring and detection system to address the growing incidents of cyber frauds. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno… Read More
No reversal of policy reforms tops DTI’s request to next admin
May 12, 2022, 4:33 pm
MANILA – The Department of Trade and Industry (DTI) has identified 10 priority programs of the agency that it wishes to be pursued by the next leadership, and top of its list is the non-reversal of the current policy direction and continuity of economic reforms of the Duterte administration. In… Read More
