Business
BSP policy decision based on domestic dev’ts: Diokno
March 17, 2022, 8:31 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) does not need to mirror the Federal Reserve’s decision to hike its key rates, and its policy decision remains data-driven and anchored on domestic developments. “I would like to reiterate that the BSP calibrates its monetary policy settings in… Read More
Measures vs. impact of oil price upticks in place: BSP exec
March 17, 2022, 8:15 pm
MANILA – A ranking Bangko Sentral ng Pilipinas (BSP) executive said Thursday while wage and fare hike proposals have been made due to fuel price increases, the government is not remiss in alleviating the public’s welfare. “What is important, we think, is that the government is pursuing firm… Read More
PH eyes $5-B HIMS revenue in 2022, more US investors
March 17, 2022, 5:55 pm
MANILA – The Philippine healthcare information management services (HIMS) sector targets to hit USD5 billion in revenues this year, higher than the USD3.1 billion revenues in 2021. During the country’s participation in the Healthcare Information Management Systems Society Conference and… Read More
Fiber internet firm doubles profit amid VisMin penetration
March 17, 2022, 5:50 pm
CEBU CITY – Fiber internet provider Converge ICT Solutions has more than doubled its net income in 2021, driven by its aggressive penetration into Visayas and Mindanao homes. In a financial briefing with the media, the company said its net income reached PHP7.2 billion in 2021 from PHP3.4… Read More
US Fed raises interest rates for 1st time since 2018
March 17, 2022, 5:28 pm
WASHINGTON – The United States Federal Reserve on Wednesday raised its benchmark interest rate for the first time since 2018 as it seeks to tame the highest US inflation in four decades. "Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy… Read More
BIR, BOC exceed 2021 collection targets
March 17, 2022, 4:53 pm
MANILA – The government’s two main revenue collection agencies collected a total of PHP2.732 trillion in 2021, surpassing their combined collection target of PHP2.698 trillion by 1.26 percent for the period, based on data from the Revenue Operations Group (ROG) of the Department of Finance… Read More
DTI studying release of new SRP list
March 17, 2022, 4:48 pm
MANILA – The Department of Trade and Industry (DTI) is still looking into revising the latest suggested retail price (SRP) list to reflect the impacts of increasing oil prices into costs of basic and prime goods. During the Laging Handa public briefing Thursday, DTI Assistant Secretary for… Read More
Bank exec cites importance of e-invoicing
March 16, 2022, 9:47 pm
MANILA – A bank executive cited close coordination between the government and the private sector for the wider use of electronic invoicing (e-invoicing), noting that this will result to more successful shift towards digital payments. Ramon Duarte, Union Bank of the Philippines (Unionbank)… Read More
Global markets await Fed's rate decision amid Ukraine-Russia war
March 16, 2022, 7:57 pm
ANKARA – Eyes turned to the United States Federal Reserve Wednesday as it is expected to hike the benchmark rate for the first since 2018. The Fed is expected to make a 25-basis point rate hike to start monetary tightening. Russia's invasion of Ukraine led central banks to reassess their… Read More
PH mulls tapping Samurai market in H1
March 16, 2022, 7:51 pm
MANILA – The Philippine government is considering another Samurai bond issuance in the first half of 2022, Finance Secretary Carlos Dominguez III said. “Definitely, we are looking at the Samurai market but basically, we rely on our domestic market to the extent of 70 or 72 percent of our… Read More
Add’l P200 per month subsidy for 4Ps beneficiaries pushed
March 16, 2022, 7:25 pm
MANILA – An additional PHP200 per month subsidy has been proposed to help beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) cope with the rising fuel prices. Finance Secretary Carlos Dominguez III proposed the retention of excise taxes on fuel and use the money to be collected… Read More
PH stocks, peso post gains over declining oil prices
March 16, 2022, 7:21 pm
MANILA – Both the main equities index and the local currency posted gains on Wednesday due partly to the decline of oil prices in the international market to below USD100 per barrel. The Philippine Stock Exchange index (PSEi) rose by 0.09 percent, or 6.53 points, to 7,026.45 points. All… Read More
Term deposit rates up as demand remains strong
March 16, 2022, 7:17 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) reduced the offer volume for the term deposit facility (TDF) on Wednesday as demand remained high, but the facility’s interest rates increased. Data released by the central bank showed that the average rate of the seven-day facility jumped to… Read More
Pandemic drives computer shipments growth in PH
March 16, 2022, 6:31 pm
MANILA – The coronavirus disease 2019 (Covid-19) pandemic has driven growth in shipment of computers in the country, increasing to 2.85 million units last year. In a press conference Wednesday, International Data Center (IDC) senior research manager Maciek Gornicki said personal computer (PC)… Read More
Better to give P33-B cash aid to vulnerable sectors: DOF chief
March 16, 2022, 3:51 pm
DAVAO CITY – The Department of Finance (DOF) has rejected proposals to suspend the excise tax on fuel as a way to reduce the impact on consumers of spiraling oil prices in the world market, asserting this move would instead end up subsidizing the expenses of affluent families more than those of… Read More
DOE backs WFH, 4-day work week schemes amid rising oil prices
March 16, 2022, 3:44 pm Updated on March 16, 2022, 5:13 pm
MANILA – The Department of Energy (DOE) supports the extension of work-from-home arrangement and the proposal for a compressed work week to conserve oil consumption amid the non-stop fuel price hikes. “We also support ‘yong panukala na four-day work week at palawigin natin ang… Read More
DOE chief sees big-time oil price rollback next week
March 16, 2022, 2:54 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi said a big-time oil price rollback may be expected next week if the improving situation in the global market continues. During President Rodrigo Duterte’s Talk to the People broadcasted Wednesday, Cusi said a decrease of PHP5 per… Read More
Targeted subsidy favorable option vs. impact of oil price hikes
March 15, 2022, 9:50 pm
MANILA – The government prefers targeted subsidy over the suspension of excise tax on fuel products because the latter has long-term negative impact on government revenues and the economy, a Department of Finance (DOF) executive said. During the virtual Laging Handa briefing on Tuesday, DOF… Read More
Economic recovery, digitalization to boost SB Finance's growth
March 15, 2022, 9:02 pm
MANILA – The government’s push for digitalization of financial transactions, along with the continued recovery of the domestic economy, make officials of SB Finance optimistic for business growth this year. “We have a positive outlook this year to grow our portfolio by at least 40… Read More
Stocks surge, peso sideways ahead of Fed meeting
March 15, 2022, 8:40 pm
MANILA – Bargain hunting lifted the main stocks gauge on Tuesday while the peso closed the day sideways against the US dollar ahead of the Federal Reserve’s rate decision announcement. The Philippine Stock Exchange index (PSEi) gained 2.98 percent, or 202.97 points, to 7,019.92 points. All… Read More
