Business
Stocks dip on global growth concerns; peso strengthens
April 26, 2022, 8:23 pm
MANILA – The local stock barometer declined on Tuesday on investors’ global economic concerns but the peso appreciated against the greenback. The Philippine Stock Exchange index (PSEi) shed 0.58 percent, or 40.81 points, to 6,980.02 points. All Shares followed with a decline of 0.28… Read More
Lopez to US biz: Economic policy in PH to remain stable
April 26, 2022, 7:12 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has assured American businesses that the economic policy in the Philippines will remain stable despite the change in administration by June 30. In a statement Tuesday, DTI said Lopez met with American investors during the… Read More
BTr partially awards 10-year T-bond due to rate uptick
April 26, 2022, 7:05 pm
MANILA – The 10-year Treasury bond (T-bond) rate rose on Tuesday, resulting in the partial award of the debt paper during an auction by the Bureau of the Treasury (BTr). The average rate of the securities rose to 6.313 percent from 6.092 percent in the previous auction. The auction… Read More
Japan’s Tamiya investing P2-B for expansion in PH this year
April 26, 2022, 4:06 pm
MANILA – Tamiya, Inc., a Japanese producer of plastic model kits and radio-controlled cars, remains confident in the Philippines as it plans to expand its manufacturing facility here. In a statement Tuesday, the Department of Trade and Industry (DTI) said Tamiya will be investing PHP2 billion… Read More
Expressway to spur tourism, investments in Cebu island town
April 26, 2022, 2:02 pm
CEBU CITY – The municipal government of Cordova has committed to lay a strong ground in promoting responsible development, particularly in tourism as the town expects to attract more investments with the opening of Cebu-Cordova Link Expressway (CCLEX). Town officials are now preparing for the… Read More
Latest Russia sanctions may include oil embargo
April 26, 2022, 1:25 pm
MOSCOW – The sixth package of sanctions against Russia may include some form of an oil embargo, though it is necessary to make sure the damage to the European Union’s (EU) member states is minimized, according to European Commission (EC) Executive Vice President, Valdis Dombrovskis, in an… Read More
Conglomerate hopes next admin to push for more PPP projects
April 26, 2022, 1:13 pm
MANILA – One of the country’s leading conglomerates hopes that the next administration will pursue more public-private partnership (PPP) projects to sustain the building of critical infrastructures. Aboitiz InfraCapital, a unit of Aboitiz Equity Ventures (AEV), believes that the country will… Read More
Multilateral banks’ support to PH gov't during pandemic cited
April 25, 2022, 8:41 pm
MANILA – Finance Secretary Carlos Dominguez III thanked executives of major multilateral development banks (MDBs) for their support to the government’s inoculation program against the coronavirus disease 2019 (Covid-19). In his meetings with officials of the World Bank Group (WBG), the… Read More
PH stocks up as Fed signals interest rate hike; peso weakens
April 25, 2022, 7:58 pm
MANILA – The main stock gauge started the week up on investors’ anticipation for another increase in the Federal Reserve’s key rates in May, but the peso weakened against the US dollar. After a slump at the end of last week’s trading, the Philippine Stock Exchange index (PSEi) recovered… Read More
T-bill rates post mixed results
April 25, 2022, 7:47 pm
MANILA – The rate of Treasury bills (T-bills) ended mixed on Monday but all tenors remained oversubscribed. The average rate of the 91-day T-bill declined to 1.140 percent and the 182-day to 1.558 percent but that of the 364-day rose to 1.901 percent. These were at 1.223 percent, 1.568… Read More
DTI in talks with US-based battery tech, telco tower firms
April 25, 2022, 6:01 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has discussed with executives from United States-based battery technology firm and independent tower company (ITC) regarding their investment plans in the country. In a statement Monday, Lopez said DTI officials, along with… Read More
C. Visayas economy deciding factor on wage orders: RTWPB
April 25, 2022, 3:49 pm
CEBU CITY – The Regional Tripartite Wages and Productivity Board-Central Visayas (RTWPB-7) will consider the economic conditions in deciding on petitions for salary adjustments for minimum wage earners, the body's regional board chairman said Monday. Undersecretary Victor del Rosario of the… Read More
Big-time oil price hike again this week
April 25, 2022, 3:37 pm
MANILA – Oil companies will implement another big-time price increase on petroleum products starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, PTT Philippines, Seaoil, and Shell said they will hike diesel prices by PHP4.10 per liter and PHP3 per liter on gasoline… Read More
Aerospace firm sees PH as growing market for defense aircraft
April 25, 2022, 2:59 pm
MANILA – Multinational aerospace company Airbus has projected the Philippines as a growing market for defense aircraft, and the firm is open to explore possible investment opportunities in the future. In a virtual media briefing Monday, Airbus Defence and Space head of Asia Pacific Johan… Read More
Netherlands to stop using Russian gas by year-end
April 23, 2022, 3:38 pm
ROTTERDAM, Netherlands – The Netherlands said Friday it aims to completely stop importing Russian gas by the end of the year. According to a written statement, the Dutch government will focus on energy saving, sustainability, and more energy imports from other countries to stop purchasing… Read More
Russia-Ukraine war to have severe economic impact on Europe: IMF
April 23, 2022, 1:57 pm
ANKARA – Russia's war on Ukraine will have severe economic consequences for Europe, coming at a time when economic recovery from the coronavirus pandemic was incomplete, the International Monetary Fund (IMF) said in a report on Friday. "Large increases in commodity prices and compounded… Read More
Landbank launches payments solutions product
April 22, 2022, 8:21 pm
MANILA – State-owned Land Bank of the Philippines (Landbank) launched on Friday its all-in-one payments solution, LandbankPay, aimed at providing additional digital banking channels to its account holders. During the virtual launch of LandbankPay streamed through the bank’s Facebook page,… Read More
BSP's 28-day securities rate falls anew
April 22, 2022, 7:45 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills declined anew on Friday as demand for the debt paper continued to remain strong. Data released by the central bank showed that the average rate of the securities slipped to 1.9102 percent from 1.9144 percent during the… Read More
Stocks slip on looming Fed hikes, peso ends sideways
April 22, 2022, 7:37 pm
MANILA – The main stocks index finished the week down on investors’ anticipation of further hikes in the Federal Reserve’s key rates but the peso kept its footing against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.89 percent, or 62.90 points, to 6,998.59… Read More
DOE urges Filipinos to continue energy conservation
April 22, 2022, 6:32 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi is urging Filipinos to continue observing energy efficiency and conservation as petroleum prices in the global market remain high. According to its Oil Industry Management Bureau (OIMB), the risk of increasing oil prices remains as… Read More
