Business
Stocks slip as inflation rises; peso strengthens
April 5, 2022, 9:11 pm
MANILA – The main equities index slipped on Tuesday following the uptick of domestic inflation rate last March to 4 percent but the peso gained against the US dollar. The Philippine Stock Exchange index (PSEi) dropped by 0.10 percent, or 7.14 points, to 7,156.07 points. All Shares slipped by… Read More
Gov't firm on collecting Marcos heirs’ unpaid taxes: Dominguez
April 5, 2022, 8:10 pm
MANILA – The government is intent on collecting the unpaid estate taxes from the Marcoses, Finance Secretary Carlos Dominguez III said. “We have been in discussion, intense discussion with the Bureau of Internal Revenue on this issue and they are studying this issue very carefully,” he told… Read More
BTr partially awards 3-year T-bond after rate uptick
April 5, 2022, 7:36 pm
MANILA – The Bureau of the Treasury (BTr) partially awarded the fresh offering of the three-year Treasury bond (T-bond) on Tuesday after its interest rate rose. The coupon rate of the debt paper stood at 4.250 percent while its average rate ended at 4.210 percent, higher than the 2.279 percent… Read More
Nat’l gov’t to pay provisional advance from BSP by June
April 5, 2022, 6:09 pm
MANILA – The national government will pay its remaining PHP300-billion bridge financing from the Bangko Sentral ng Pilipinas (BSP) by June 12, 2022 as state revenue collection continues to improve. This was disclosed by Finance Secretary Carlos Dominguez III during the Philippine economic… Read More
Gov’t ready to address inflationary pressures: NEDA
April 5, 2022, 1:57 pm
MANILA – The government has taken steps to address the inflationary pressures brought about by the Russia-Ukraine conflict, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority reported Tuesday that headline inflation increased to 4 percent in March… Read More
Inflation rises to 4% in March
April 5, 2022, 1:17 pm
MANILA – Oil price upticks in the international market due largely to Russia’s invasion of Ukraine resulted in the surge of the country’s inflation rate last March to 4 percent from month-ago’s 3 percent. This brought the average inflation in the first quarter this year to 3.4 percent,… Read More
DTI-BOI sees further growth of manufacturing output
April 4, 2022, 8:14 pm
MANILA – Following the greater mobility and effective implementation of health and safety protocols with lesser and lesser coronavirus disease 2019 (Covid-19 cases), the Philippines is in full swing of economic recovery as manufacturing output climbed 53.2 in March 2022, again outperforming its… Read More
Stocks index, peso gain ahead of inflation report
April 4, 2022, 7:39 pm
MANILA – Bargain hunting lifted the main equities index on Monday ahead of the release of the March 2022 domestic inflation report while the peso tracked gains in the local bourse. The Philippine Stock Exchange index (PSEi) rose by 0.14 percent, or 10.33 points, to 7,163.21 points. All… Read More
T-bill rates end mixed on rate hike expectations
April 4, 2022, 7:06 pm
MANILA – National Treasurer Rosalia de Leon said Monday Treasury bill (T-bill) rates posted mixed results on expectations for rate hikes both here and in the United States due to the accelerating inflation rate. The average rate of the 91-day paper declined to 1.380 percent from 1.587 percent… Read More
Cebu exec eyes fixed interest rates for small lending firms
April 4, 2022, 6:20 pm
CEBU CITY – A member of the Cebu Provincial Board (PB) on Monday filed a proposed ordinance that will regulate interest rates and fees of small-time lending companies offering loans but eventually pushed household owners and small-scale entrepreneurs into “debt traps”. Glenn Anthony Soco,… Read More
Oil price rollback set this week
April 4, 2022, 5:21 pm
MANILA – Oil companies will implement price rollbacks on Tuesday, a week after another price hike due to volatilities in the international market. In advisories issued on Monday, Pilipinas Shell, PTT Philippines, and Caltex said price of their gasoline products will decline by PHP2.30 per… Read More
NEDA cites role of regional cooperation in achieving SDGs
April 4, 2022, 1:22 pm
MANILA – Regional cooperation is vital in sustaining growth to achieve the United Nations’ (UN) Sustainable Development Goals (SDGs) by 2030, the National Economic and Development Authority (NEDA) said Monday. “Despite the pandemic, (the) Asia-Pacific (region) has made steady progress… Read More
PhilGuarantee releases P3-B financing aid to over 20K MSMEs
April 4, 2022, 1:08 pm
MANILA – State-owned Philippine Guarantee Corporation (PhilGuarantee) has reached nearly PHP3 billion in financing assistance to micro, small and medium enterprises (MSMEs) through its credit guarantee facilities, in line with its key assistance role during the pandemic period that started in… Read More
House continues to find ways to boost energy industry
April 3, 2022, 7:17 pm
MANILA – The House Committee on Energy, chaired by Pampanga 2nd District Representative Juan Miguel "Mikey" Macapagal Arroyo, has passed important laws to ensure adequate and affordable power and fuel in the country, while continuing to find ways to further improve the local industry and… Read More
BSP 28-day bills rate declines anew
April 1, 2022, 8:10 pm
MANILA – Domestic liquidity continues to remain ample as shown by the robust bids for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities, which posted another decline of interest rate on Friday. Central bank data show that BSP hiked the offer volume for the debt paper this week to… Read More
PSEi down amid market volatility; peso almost unchanged
April 1, 2022, 7:59 pm
MANILA – Volatility during the first quarter of the year summarized the main equities index’s negative close on Friday but the peso finished the day sideways against the greenback after a strong close on Thursday. The Philippine Stock Exchange index (PSEi) shed 0.70 percent, or 50.59… Read More
DOF chief cites insurance industry growth amid pandemic
April 1, 2022, 5:13 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III said Friday the impressive growth of the insurance industry in 2021 mirrors the efficiency and swift action of the Insurance Commission (IC) in maximizing the use of digital tools and other measures to ensure the resilience of… Read More
Oil prices drop as US announces massive crude reserve release
April 1, 2022, 4:03 pm
NEW YORK – Oil prices dropped on Thursday as the United States announced a record release from the nation's crude reserves. The West Texas Intermediate for May delivery lost USD7.54, or 7 percent, to settle at USD100.28 a barrel on the New York Mercantile Exchange. Brent crude for May… Read More
BOI, PEZA approve P12.8-B investments in Jan-Feb
April 1, 2022, 3:57 pm
MANILA – The Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA), the country’s major investment promotion agencies, have approved PHP12.82 billion worth of investments for the first two months of the year. Government data show that PHP7.55 billion investment… Read More
PH sustains strong manufacturing performance in March
April 1, 2022, 3:03 pm
MANILA – The country has continued to post a strong manufacturing score in March this year as purchasing managers’ index (PMI) hit 53.2, higher than February’s reading of 52.8. The S&P Global Manufacturing PMI, formerly under IHS Markit, said Friday manufacturing score last month was the… Read More
