Business
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
Foreign companies keen on investing in PH
April 18, 2022, 6:00 pm
MANILA – Many international companies are keen on investing in the Philippines after the passage of game-changing reforms under the Foreign Investments Act and Public Service Act, a House leader said on Monday. House Committee on Economic Affairs chair Sharon Garin said the country is now… Read More
Oil prices to rise anew this week
April 18, 2022, 4:43 pm
MANILA – Following a two-week rollback, fuel prices are set to increase this week starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will raise diesel prices by PHP1.70 per liter and PHP0.45 per liter for… Read More
Local car assemblers sales hit pre-Covid level in March
April 18, 2022, 4:00 pm
MANILA – The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported Monday that sales of local vehicle assemblers reached pre-pandemic level in March this year. Automotive vehicles sales last month grew 43.4 percent to 29,685… Read More
ARTA to launch electronic complaint system
April 18, 2022, 3:00 pm
MANILA – The Anti-Red Tape Authority (ARTA) will launch on Tuesday its first electronic complaint management system (CMS), adding another channel for the public to file their concerns on red tape in government offices. In a statement Monday, ARTA said this is in response to President Rodrigo… Read More
BPI branch operations to resume April 18
April 13, 2022, 3:17 pm
MANILA – Clients of the Ayala-led Bank of the Philippine Islands (BPI) are advised to use the financial institution’s online and digital portals from April 14-15 since all the bank’s branches nationwide will be closed. The days fall during the observance of the Maundy Thursday and Good… Read More
Local solar firm taps IPO to fund 2 new projects
April 13, 2022, 3:05 pm
MANILA – Pampanga-based renewable energy developer Raslag Corp. is tapping the stock market to raise funds for its two solar projects -- Raslag 4 and 5. In a virtual media roundtable Wednesday, Raslag president and chief executive officer Peter Nepomuceno said the company would run its initial… Read More
PH stocks index slips anew, peso ends sideways
April 12, 2022, 9:33 pm
MANILA – Risk on sentiments resulted in another negative close for the Philippines’ main equities index on Tuesday but the peso finished the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) declined by 1.33 percent, or 92.93 points, to 6,895.36 points. All Shares… Read More
6.5% growth seen this year: economist
April 12, 2022, 8:35 pm
MANILA – Government expenditures and recovery of the private sector will help drive the Philippine economy to grow by 6.5 percent this year, an analyst said Tuesday. Asean+3 Macroeconomic Research Office (AMRO) chief economist, Dr. Hoe Ee Khor, said in a virtual briefing that the growth outlook… Read More
PH '22 inflation rate not expected to surpass 5%
April 12, 2022, 8:22 pm
MANILA – Domestic inflation rate is not seen to exceed 5 percent despite expectations of an elevated inflation rate until around the first half of 2023. In a virtual briefing on Tuesday, BSP Department of Economic Research (DER) Managing Director Zeno Ronald Abenoja said oil price developments… Read More
BTr partially awards 5-yr T-bond after rate jumps
April 12, 2022, 8:20 pm
MANILA – Rate of the Philippines’ five-year Treasury bond (T-bond) rose on Tuesday partly tracking the jumps in US Treasury rates. Average rate of the debt paper increased to 4.968 percent from 4.669 percent previously. The Bureau of the Treasury (BTr) offered the debt instrument for PHP35… Read More
PH continues to attract investments in data center, RE
April 12, 2022, 7:43 pm
MANILA – The country continues to attract investments in data center and renewable energy as the Board of Investments (BOI) met with executives of infrastructure firm Diode Ventures, LLC (USA) and Endec Group, Inc. In a statement Tuesday, BOI said its managing head Trade Undersecretary Ceferino… Read More
Digital banks seen to boost deposit accounts in PH
April 12, 2022, 7:42 pm
MANILA – Three of the six digital banks that have started operations since 2021 have onboarded 120,000 deposit accounts and the numbers are seen to rise further once the three other banks begin operations this year. “Digital banks will significantly contribute to the growth and development of… Read More
DICT streamlines process for tower, satellite, delivery firms
April 12, 2022, 7:12 pm
MANILA – The Department of Information and Communications Technology (DICT) on Tuesday announced changes to the registration, accreditation, and monitoring of tower, satellite, and delivery companies to streamline and remove “red tape.” In a statement, DICT Secretary Emmanuel “Manny”… Read More
DTI finishes final draft of SIPP under CREATE law
April 12, 2022, 6:40 pm
MANILA – The Department of Trade and Industry (DTI) has completed its final draft of the Strategic Investment Priorities Plan (SIPP) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and presented it to the chairman of the House Ways and Means Committee. Albay Rep. Joey… Read More
ARTA to open complaint post in mall after Holy Week
April 12, 2022, 4:22 pm
MANILA – The Anti-Red Tape Authority (ARTA) is bringing closer its services to the public as it eyes to open a complaint post inside a mall where citizens can air their concerns against erring government offices. During the Kapihan sa ARTA on Tuesday, ARTA Undersecretary Carlos Quita said the… Read More
DOE, World Bank to launch offshore wind roadmap
April 12, 2022, 1:31 pm
MANILA – The Department of Energy (DOE) and the World Bank Group (WBG) will be launching the country’s first Offshore Wind Roadmap which aims to increase the share of wind power in the country’s energy mix. The Philippine Offshore Wind Roadmap is commissioned by the WBG under the joint… Read More
T-bill rates fall on easing oil prices
April 11, 2022, 7:51 pm
MANILA – Award for the 91-day and 182-day Treasury bills (T-bills) were upsized by PHP2 billion on Monday after interest rates fell and demand remained high. The average rate of the three-month paper slipped to 1.250 percent, the 182-day to 1.555 percent, and the 364-day to 1.857 percent. These… Read More
PH stocks index slips as peso finishes sideways vs. US dollar
April 11, 2022, 7:47 pm
MANILA – The Philippines’ main stocks index finished the Holy Week’s first trading day weaker as the peso finished sideways against the US dollar although at the 52-level. The Philippine Stock Exchange index (PSEi) shed 0.42 percent, or 29.73 points, to 6,988.29 points. It was trailed by all… Read More
Expect another oil price rollback this week
April 11, 2022, 6:39 pm
MANILA – Oil companies announced that they will slash fuel prices starting Tuesday morning, with the oil price rollback now on its second week. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will decrease diesel prices by PHP0.35 per… Read More
