Business
Ex-defense chief bats for more PPP projects
April 11, 2022, 4:45 pm
MANILA – Former Defense Secretary and senatorial bet Gilbert “Gibo” Teodoro hopes to revitalize the public-private partnership (PPP) program to continue building critical infrastructures across the country. In a statement Monday, Teodoro said the next administration should not stop in… Read More
Taiwan locators urged to invest in Northern, Central Luzon
April 11, 2022, 4:44 pm
MANILA – The Bases Conversion and Development Authority (BCDA) is inviting Taiwanese businesses to set up their operations in Northern and Central Luzon, particularly at the Poro Point Freeport Zone and in New Clark City. In a statement Monday, the BCDA said the agency has been engaging with… Read More
Security Bank suspends ops on Maundy Thursday, Good Friday
April 11, 2022, 4:43 pm
MANILA – All branches of Security Bank Corporation (Security Bank) nationwide will be closed from April 14 to 15 in line with the observance of Maundy Thursday and Good Friday, which were declared by Malacañang as holidays. In an advisory on Monday, the bank urged its customers to call the… Read More
Property sector continues to ‘pick up’ from pandemic: Cebu firm
April 8, 2022, 8:26 pm
CEBU CITY – The increase in sales and sustained housing demand is an indicator of recovery from the coronavirus disease 2019 (Covid-19) pandemic, a Cebu-based real estate company said on Friday. Jose Soberano III, Cebu Landmasters Inc. (CLI) chairperson and chief executive officer, reported… Read More
Stocks recover, peso slides on US Treasury yield hike
April 8, 2022, 8:08 pm
MANILA – The main equities index recovered and rose to the 7,000-level on Friday but the peso weakened against the US dollar following the decline in the prices of oil in the international market. The Philippine Stock Exchange index (PSEi) inched up by 1.33 percent, or 91.99 points, to… Read More
PEZA allows 30% WFH for registered IT-BPOs, RBEs until Sept. 12
April 8, 2022, 6:33 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza has announced that the agency is accepting applications from PEZA-registered information technology-business process outsourcing (IT-BPOs) and registered business enterprises (RBEs) for the hybrid work… Read More
BSP's 28-day bills rate declines anew
April 8, 2022, 6:25 pm
MANILA – Interest rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills declined on Friday and bids continued to remain high despite the higher volume offer. Data released by the central bank showed that the average rate of the debt paper went down to 1.9312 percent from 1.9677… Read More
Economist eyes further rise in PH GIR as economy recovers
April 8, 2022, 3:56 pm
MANILA – Continued reopening and recovery of economies are expected to further lift the country’s dollar reserves, which rose to USD108.54 billion in March 2022. In a report released on Friday, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the latest… Read More
Real estate group complains of ‘colorum’ brokers, agents
April 8, 2022, 3:52 pm
CEBU CITY – The Philippine Association of Real Estate Boards Inc. (PAREB) has lamented the proliferation of “colorum” real estate agents who continue to “unscrupulously dupe” buyers despite a law regulating the practice of real estate service. During the general membership meeting of… Read More
Nationwide shift to Alert Level 1 to boost employment: NEDA
April 7, 2022, 8:38 pm
MANILA – Increased mobility and easing of restrictions led to significant employment creation in February 2022, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority reported Thursday that the country’s unemployment rate in February was maintained at… Read More
Stocks slip anew as Fed hints rate hikes; peso ends flat
April 7, 2022, 8:19 pm
MANILA – Further rate tightening plans by the Federal Reserve continued to negatively impact the local stock barometer on Thursday but the peso improved against the US dollar. The Philippine Stock Exchange index (PSEi) shed 2.58 percent, or 183.23 points, to 6,926.03 points. All Shares declined… Read More
P1-K polymer banknotes out by April 18: Diokno
April 7, 2022, 7:15 pm
MANILA – The initial batch of the 1,000-peso polymer banknotes will be out this April 18, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. “And this will be initially through over-the-counter. And maybe in six months time, you will see it in your ATMs (automated teller… Read More
BSP encourages investment in Islamic banking
April 7, 2022, 6:26 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is now working with the Bangsamoro government, along with several government agencies, as part of the whole-of-government approach to encourage investment in Islamic banking. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno said… Read More
Tax reforms boost PH's position in Asia
April 7, 2022, 1:08 pm
MANILA – Game-changing reforms instituted by the Duterte administration elevated the country among the leaders in Asia and allowed it to have the financial capacity to weather the virus-induced pandemic. These reforms include the enactment of the Corporate Recovery and Tax Incentives for… Read More
Stocks index, peso slip on anticipations of Fed rate hikes
April 6, 2022, 7:56 pm
MANILA – Risk-off sentiments on news saying the Federal Reserve will take a more aggressive tightening took over the local bourse on Wednesday, resulting in the negative close of all the counters, along with the peso. The Philippine Stock Exchange index (PSEi) slipped by 0.65 percent, or… Read More
Term deposit facility rates slip anew
April 6, 2022, 7:50 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility declined anew as demand remained high as shown by the oversubscription amid the higher offer volume. Data released by the central bank showed that the average rate of the seven-day facility declined to 1.9177… Read More
Vax program, amendments to several laws boost PH employment
April 6, 2022, 6:23 pm
MANILA – The continued vaccination against the coronavirus disease 2019 (Covid-19), along with amendments to several laws such as the Foreign Investments Act (FIA), are expected to fuel the continued improvement of the employment situation in the country. The Department of Finance (DOF), in an… Read More
Stronger domestic demand to fuel PH economic growth in 2022, 2023
April 6, 2022, 4:08 pm
MANILA – The Philippine economic recovery is expected to gain traction this and next year, underpinned by rising domestic investment and consumption as pandemic restrictions eased, allowing for more manufacturing and construction activities, according to a new report released by the Asian… Read More
Global markets in positive mood
April 5, 2022, 9:27 pm
ISTANBUL – With easing commodity prices and positive developments in the Russia-Ukraine war, global stock markets posted positive results. The price of Brent oil per barrel sat at UDS103 on Monday while it is at around USD108.6 currently. The ounce price of gold traded for around USD1,930, up… Read More
Policy rate hike in H2 still in offing as PH inflation rises
April 5, 2022, 9:25 pm
MANILA – A policy rate hike in the second half of 2022 remains in the horizon for monetary authorities as the jump in inflation rate last March to 4 percent is expected to continue in the coming months. The BSP’s key policy rates have been slashed by a total of 200 basis points in 2020 as part… Read More
