Business
PDIC hastens deposit insurance claim settlement
March 29, 2022, 6:23 pm
MANILA – The use of digital platforms enabled the Philippine Deposit Insurance Corp. (PDIC) to significantly cut its clearing time in settling a total of 19,184 deposit insurance claims and in resolving over 30,000 loan accounts in closed banks in 2021. In a report to Finance Secretary and… Read More
PEZA to propose hybrid work setup to next admin
March 29, 2022, 3:20 pm
MANILA – The Philippine Economic Zone Authority (PEZA) said it will propose tweaking its policy to include a work-from-home (WFH) arrangement, especially for the information technology and business process outsourcing (IT-BPO) industry, to the next administration. In a statement Tuesday, PEZA… Read More
BTr rejects bids for 6-month, 1-year T-bill after rates uptick
March 28, 2022, 8:13 pm
MANILA – The Treasury bill (T-bill) rates rose on Monday, which resulted in the full-award only for the three-month paper. The average rate of the 91-day paper rose to 1.587 percent, the 182-day to 1.856 percent, and the 364-day to 2.137 percent. These were at 1.536 percent, 1.607 percent,… Read More
Stocks up on bargain hunting; peso stays firm
March 28, 2022, 7:54 pm
MANILA – Bargain hunting allowed the Philippine Stock Exchange index (PSEi) to finish Monday in a positive territory anew while the peso ended sideways against the US dollar. The local stock barometer rose by 0.13 percent, or 9.52 points, to 7,134.36 points. All Shares followed with a jump… Read More
Infra program, pandemic bolster housing demand outside MM
March 28, 2022, 7:48 pm
MANILA – The government’s program to further improve infrastructure across the country, along with people’s preference for less crowded spaces vis-à-vis the pandemic, are expected to continue to fuel demand for housing units outside of Metro Manila. In a virtual briefing on Monday,… Read More
Big-time oil price hike again this week
March 28, 2022, 6:23 pm
MANILA – After last week’s break from 11 straight weeks of price hikes, oil companies will increase fuel prices again starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Unioil said they will hike gasoline prices by PHP3.40 per… Read More
BOI approves P62-M pork production expansion project
March 28, 2022, 5:21 pm
MANILA – The Board of Investments (BOI) has approved the PHP61.8-million hog production project of Zashi Hog Farm, Inc. in San Ildefonso, Magalang, Pampanga, the investment promotion agency said Monday. The BOI gave green light to the project as it supports the government’s programs to… Read More
GOCC dividend remittances hit over P57-B in 2021
March 28, 2022, 2:03 pm
MANILA – The fiscal discipline that the Department of Finance (DOF) continues to impose on government-owned or controlled corporations (GOCCs) has yielded PHP57.55 billion in actual dividend remittances in 2021 from these state-run firms, or 9.4 percent higher than the 2019 pre-pandemic… Read More
US, Europe's natural gas hope to lead LNG exports by year-end
March 25, 2022, 8:50 pm
ANKARA -- The United States (US) is poised to become the world's largest liquefied natural gas (LNG) exporter by the end of this year, with the expansion of its LNG infrastructure. According to information compiled by the Anadolu Agency from Shell, the International Gas Association, and the US… Read More
Duterte admin speeding up post-pandemic recovery: DOF chief
March 25, 2022, 8:45 pm
MANILA – The administration of President Rodrigo Duterte is redoubling its efforts to expand the economy at a much faster rate in its remaining quarter to recover the opportunities lost for high and inclusive growth in the two-year pandemic, Department of Finance (DOF) Secretary Carlos Dominguez… Read More
Oil prices decline as EU sanctions exclude Russian oil sector
March 25, 2022, 8:03 pm
ANKARA – Oil prices dropped on Friday over easing supply worries on news that European Union (EU) sanctions will exclude the Russian oil sector, oil flow via the Caspian Pipeline Consortium (CPC) will partially resume, and the United States (US) will release more oil from its emergency storages… Read More
BSP eyes increased green bonds investments
March 25, 2022, 7:47 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) continues to monitor developments regarding the green bonds market and bids to increase its investments, which to date amounts to USD550 million. In a virtual briefing on Friday, BSP Governor Benjamin Diokno said monetary officials “recognize… Read More
PH stocks, peso up as US jobless claims drop
March 25, 2022, 6:26 pm
MANILA – Both the main stocks index and the peso gained on Friday partly on improvement of jobless claims in the US, which posted its lowest since 1969. The Philippine Stock Exchange index (PSEi) rose by 0.60 percent, or 42.23 points, to 7,124.84 points. All Shares followed with a jump of… Read More
Netizens push counterfeiting reports, complaints to new record
March 25, 2022, 6:07 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) received 151 counterfeiting and piracy reports from consumers and complaints from rights holders in 2021, surpassing the previous record-high of 121 in 2020 and registering a 25-percent year-on-year increase. Netizens,… Read More
BSP 28-day securities rate slips despite strong demand
March 25, 2022, 6:03 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities declined on Friday despite the strong demand for the debt paper. Data released by the central bank showed that the average rate of the bills slipped to 1.9978 percent from 2.0452 percent during the auction last… Read More
BOI eyes more biotech innovators in PH
March 25, 2022, 4:05 pm
MANILA – The Board of Investments (BOI) aims to attract more investments in the field of biotechnology as a Philippine delegation is meeting with healthcare innovators in the San Francisco Bay Area and Silicon Valley in a roadshow in the United States this week. The BOI, under its Make It… Read More
Ukraine-Russia conflict alone has little impact on PH remittances
March 25, 2022, 2:31 pm
MANILA – The Ukraine-Russia conflict is not expected to put a big dent on remittances to the Philippines, but it is another story if the war would include some members of the North Atlantic Treaty Organization (NATO). In a virtual briefing on Friday, Bangko Sentral ng Pilipinas (BSP) Governor… Read More
SEC revokes Cashtrees Lending license
March 24, 2022, 8:10 pm
MANILA – The Securities and Exchange Commission (SEC) has revoked the license of Cashtrees Lending Corporation for launching and operating unregistered online lending platforms (OLPs) amid a moratorium imposed by the commission. In an order dated March 16, the SEC Corporate Governance and… Read More
Stocks up anew on bargain hunting, peso ends sideways
March 24, 2022, 8:03 pm
MANILA – Bargain hunting again lifted the main stocks index on Thursday while the peso finished the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 1.04 percent, or 73.18 points, to 7,082.61 points. All Shares followed with a jump of 0.93 percent, or 34.60… Read More
PH eyes concluding trade deal with UAE next year
March 24, 2022, 7:02 pm
MANILA – The Department of Trade and Industry (DTI) targets to conclude the trade and investment agreement with the United Arab Emirates as early as next year, DTI Assistant Secretary Allan Gepty said Thursday. During the virtual presser of the Presidential Communications Operations Office’s… Read More
