Business
PEZA remits P5.6-B dividends to nat’l gov’t under Duterte admin
April 22, 2022, 5:20 pm
MANILA – While attracting investments into the country and creating jobs for Filipinos, the Philippine Economic Zone Authority (PEZA) has also remitted over PHP5.5 billion in dividends to the national government during the administration of President Rodrigo Duterte. In a statement Friday,… Read More
PH economic team to woo Singapore investors
April 22, 2022, 3:40 pm
MANILA – The Philippines targets to lure more Singapore-based businesses to put up their operations here. This, as the Department of Trade and Industry (DTI) and the Embassy of the Philippines in Singapore will be holding the 3rd Philippine-Singapore Business and Investment Summit on April… Read More
PH economy needs to grow 6% to cut pandemic-related debt
April 21, 2022, 8:48 pm
MANILA – The Philippine economy needs to grow faster than its pre-pandemic level of around 6 percent for the government to reduce debt incurred because of the coronavirus disease 2019 (Covid-19). In an interview over Bloomberg television on Thursday, Finance Secretary Carlos Dominguez III said… Read More
Profit-taking pulls down stocks index; peso up
April 21, 2022, 8:06 pm
MANILA – The main stocks index slipped on Thursday after several days on the rise but the peso gained against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.13 percent, or 80.93 points, to 7,061.49 points. All Shares followed with a drop of 0.65 percent, or 24.59 points, to… Read More
Growth outlook for local FMCG ‘cautiously optimistic’
April 21, 2022, 7:02 pm
MANILA – Outlook for the fast-moving consumer goods (FMCG) sector is “cautiously optimistic” this year as the pandemic left a prolonged disruption in shopping habits among Filipinos, data, insights, and consulting company Kantar said. In a virtual press briefing Thursday, Kantar Philippines… Read More
More US firms eyeing to expand in PH
April 21, 2022, 5:19 pm
MANILA – At least two companies based in the United States have expressed their plans to expand in the Philippines, the Department of Trade and Industry (DTI) said. In a statement Thursday, the DTI said its officials led by Secretary Ramon Lopez, Presidential Adviser on Flagship Programs and… Read More
Innovate to unlock PH potential as high-income country: NEDA
April 21, 2022, 2:46 pm
MANILA – Policies are now in place to use new technologies in unlocking the country’s potential to be a high-income economy, the government’s top economist said. During the online celebration for the National Innovation Day Thursday, Socioeconomic Planning Secretary and National Economic and… Read More
BSP, AFI launch cash agent registry
April 20, 2022, 6:36 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) and the Alliance for Financial Inclusion (AFI) have jointly launched a registry for cash agents, a project that seeks to reinforce the BSP’s twin goals of financial inclusion and payments digitalization. “The agent registry is a regulatory… Read More
PSEi up on stronger US corporate earnings; peso ends sideways
April 20, 2022, 6:30 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday’s trading stronger, while the local currency traded sideways. The PSEi closed the day’s trading higher by 1.49 percent, or 104.68 points, to 7,142.42. All shares also rose by 0.91 percent to 3,777.13, up by 34.21 points,… Read More
SoKor biz mission eyes opportunities in Mindanao
April 20, 2022, 3:11 pm
MANILA – A business delegation from South Korea will be visiting Davao City next week to seek opportunities and expand its presence in the southern part of the Philippines. In a statement Wednesday, the Korean Embassy in the Philippines said Ambassador Kim In-chul will be leading the business… Read More
BIR posts higher collections; boosts tax base under Duterte admin
April 20, 2022, 2:36 pm
MANILA – The heightened Bureau of Internal Revenue’s (BIR) digitalization transformation (DX) programs, complemented by its growing workforce of young and skilled professionals under the Duterte administration, enabled the agency to steadily improve its collection performance and broaden the… Read More
PH 7-year T-bond rate rises
April 19, 2022, 8:29 pm
MANILA – The rate of seven-year Treasury bond (T-bond) rose on Tuesday on expectations for higher Federal Reserve rates. The average rate of the debt paper increased to 5.779 percent from 5.601 percent previously. The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion and… Read More
PH, US trade execs meet in Washington to cement economic ties
April 19, 2022, 7:53 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has met with United States Trade Representative (USTR) Ambassador Katherine Tai in Washington D.C. to discuss ways to further cement economic ties between the two countries. In a statement Tuesday, the DTI said Lopez is… Read More
PH bourse up on bargain hunting, peso weakens
April 19, 2022, 7:46 pm
MANILA – Bargain hunting lifted all counters in the local bourse on Tuesday amid rising commodity prices and interest rates, but the peso depreciated against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.60 percent, or 41.63 points, to 7,037.74 points. All Shares… Read More
ARTA reminds gov’t offices to streamline, re-engineer services
April 19, 2022, 7:40 pm
MANILA – Anti-Red Tape Authority (ARTA) Director General Jeremiah Belgica on Tuesday reminded all government offices to streamline and re-engineers services for faster transactions with the public. “Re-engineering of processes and streamlining of processes are no longer optional activities… Read More
PH pharma industry seen to hit P216-B in 2024
April 19, 2022, 5:31 pm
MANILA – Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo said the country’s pharmaceutical industry is expected to grow up to PHP216 billion by 2024, as it continues to be an attractive market for pharmaceutical firms. “The Philippine health expenditure is… Read More
Napocor posts over sixfold rise in power capacity additions
April 19, 2022, 12:50 pm
MANILA – The National Power Corp. (Napocor) has increased its capacity additions in missionary or off-grid areas from 13.66 megawatts (MW) in 2016 to 88.53 MW as of December 2021, or more than sixfold in the past five years under the Duterte administration. It has also added 321.5 circuit… Read More
Stocks index starts week up but peso slips
April 18, 2022, 7:59 pm
MANILA – The main stock gauge started the week on a positive note ahead of the earnings report in the United States but the peso depreciated against the US dollar Monday. After a shortened work week because of the holiday for the observance of Maundy Thursday and Good Friday, the Philippine… Read More
T-bill rates end mixed ahead of more Fed rate hikes
April 18, 2022, 6:59 pm
MANILA – The rate of Treasury bills (T-bills) posted mixed results on Monday but all tenors were oversubscribed, which National Treasurer Rosalia de Leon attributed to anticipations for Federal Reserve key rate hikes. The average rate of the 91-day T-bill declined to 1.223 percent but those… Read More
BSP 28-day securities rate declines anew
April 18, 2022, 6:24 pm
MANILA – The continued high demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day bill resulted in the drop in the debt paper’s average rate to 1.9144 percent. Data released by the central bank on Monday showed that offer volume for the securities was hiked to PHP140 billion from… Read More
