Business
DTI-Cebu continues giving safety seal despite easing of protocols
March 2, 2022, 3:32 pm
CEBU CITY – As Cebu province is put under Alert Level 2, the Department of Trade and Industry continues to issue safety seal certification to establishments to ensure compliance with the minimum health protocols against coronavirus disease 2019 (Covid-19). DTI-Cebu provincial director Rosa Mae… Read More
PH GDP seen to remain strong despite Omicron factor
March 2, 2022, 12:59 pm
MANILA – Philippine economic growth is projected to remain robust this year despite the hit from the Omicron variant in January given the strong job creation in December 2021 and the expected rise in infrastructure spending. According to the February 2022 issue of the Market Call, the monthly… Read More
CDC posts P1.30-B net income in 2021
March 1, 2022, 8:21 pm
CLARK FREEPORT, Pampanga – The Clark Development Corporation (CDC) posted a PHP1.30-billion net income last year, a 55-percent increase compared to its figure in 2020. In a report on Tuesday, CDC president and chief executive officer Manuel Gaerlan said notable financial milestones for the… Read More
SEC implements cap on lending, financing firms’ interest rates
March 1, 2022, 8:03 pm
MANILA – The Securities and Exchange Commission (SEC) has issued the memorandum circular implementing the cap on interest rates and other fees imposed by lending and financing companies, and their online lending platforms (OLPs). SEC Memorandum Circular No. 3, Series of 2022 (SEC MC 3), which… Read More
BTr rejects bids for 3-year T-bond
March 1, 2022, 7:43 pm
MANILA – The Bureau of the Treasury (BTr) rejected all bids for the three-year Treasury bond (T-bond) during its initial auction on Tuesday. Had the auction committee awarded in full the PHP35-billion offer, the rate of the T-bond would have risen to 4.172 percent from 2.279 percent for a… Read More
Stocks sustain gains, peso nearly flat amid overseas risks
March 1, 2022, 6:17 pm
MANILA – The local stock barometer again finished higher on Tuesday amid lingering concerns on the Ukraine-Russia conflict while the peso kept its footing against the US dollar. The Philippine Stock Exchange index (PSEi) gained 1.28 percent, or 93.60 points, to 7,404.61 points. All Shares… Read More
Shift to Level 1 to create P9.4-B weekly economic gains: NEDA
March 1, 2022, 6:11 pm
MANILA -- The shift to Alert Level 1 in more parts of the country will generate an estimated PHP9.4 billion per week of economic activity in gross value-added terms, the National Economic and Development Authority (NEDA) said. During the Talk to the People of President Rodrigo Duterte on… Read More
Bank execs bullish on biz growth as economy recovers
March 1, 2022, 5:21 pm
MANILA – The continued recovery of the domestic economy makes executives of Rizal Commercial Banking Corporation (RCBC) optimistic of a similar outcome for the bank. The bank’s net income grew by 41 percent year-on-year last year to PHP7.1 billion, driven by the 13-percent rise of both the… Read More
RTB floats account for over 35% of gov’t securities in 2021
March 1, 2022, 3:09 pm
MANILA – Retail Treasury Bond (RTB) offerings accounted for 35.2 percent of the government’s outstanding debt securities in 2021, helping raise funds for its pandemic response programs while fulfilling President Rodrigo Duterte’s goal of expanding financial literacy and inclusion among… Read More
ARTA calls on agencies to submit zero-backlog report
March 1, 2022, 3:04 pm
MANILA – The Anti-Red Tape Authority (ARTA) has called on national government agencies (NGAs), local government units (LGUs), and government-owned and -controlled corporations (GOCCs) to submit their compliance report on the “3-7-20” rule. In a press conference on Tuesday, ARTA Director… Read More
PH manufacturing score in February hits 3-year high
March 1, 2022, 1:25 pm
MANILA – The country’s manufacturing score in February has improved to 52.8, its highest since December 2018, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) reported Tuesday. Last month’s manufacturing PMI was also better than the 50 index registered in January. IHS Markit… Read More
DTI encourages more on-site work in new normal
March 1, 2022, 10:29 am
MANILA – The Department of Trade and Industry (DTI) is now encouraging more on-site work and lessened work-from-home setup as the country now moves to the new normal. Speaking with President Rodrigo Duterte during the Talk to the People Monday evening, DTI Secretary Ramon Lopez said urging… Read More
Big-time LPG price hike greets consumers in March
March 1, 2022, 10:27 am
MANILA – Consumers would have to pay more for cooking gas as a big-time price hike took effect on Tuesday. Petron implemented an increase of PHP7.95 per kilogram of LPG while Shell's Solane-branded LPG rose by PHP7.14 per kilogram. The price hike this month reflected an increase of PHP78.54 to… Read More
BTr rejects bids for T-bills
February 28, 2022, 8:33 pm
MANILA – The Bureau of the Treasury (BTr) rejected all bids for the Treasury bills (T-bills) during an auction on Monday after investors asked for higher yields. Had the auction committee awarded the debt papers, the average rate of the 91-day securities would have risen to 1.49 percent, the… Read More
PH stocks rebound amid overseas jitters; peso ends sideways
February 28, 2022, 8:04 pm
MANILA – The local bourse main index rebounded on Monday amidst the geopolitical concerns overseas while the peso finished the trade sideways against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 1.37 percent, or 98.78 points, to 7,311.01 points. All Shares followed… Read More
BSP eyes February inflation at 3.2%
February 28, 2022, 7:22 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) forecasts a faster inflation rate for February at 3.2 percent, mainly driven by the increases in prices of oil, rice, and some meat products. The projection is higher than the previous month’s 3 percent and is the midpoint of the central… Read More
SBMA posts record-high PHP387-M income in January
February 28, 2022, 5:21 pm
SUBIC BAY FREEPORT – Boosted by a resurging seaport trade, the Subic Bay Metropolitan Authority (SBMA) recorded an income of PHP387 million last January, the highest monthly revenue ever recorded in the Subic agency’s almost 30 years of history. SBMA chair and administrator Wilma T. Eisma said… Read More
BOI, Elon Musk’s SpaceX in talks over investment plan in PH
February 28, 2022, 5:14 pm
MANILA – The Board of Investments (BOI) on Monday said it continues to engage with Elon Musk’s SpaceX Exploration Technologies Corp. on the latter’s plan to set up its satellite internet services in the country. “(Trade) Undersecretary (Ceferino) Rodolfo had a series of follow-up online… Read More
Pump prices continue to rise with no end in sight
February 28, 2022, 3:54 pm
MANILA – Oil companies will increase pump prices for the ninth straight week on Tuesday morning. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will raise diesel prices by PHP0.80 per liter and gasoline by PHP0.90 per liter. Caltex, Seaoil, and… Read More
Germany assesses potential of hydrogen as PH energy source
February 28, 2022, 1:44 pm
MANILA – The German-Philippine Chamber of Commerce and Industry (GPCCI) said it is exploring the potential of the Philippine market for green hydrogen as a future source of energy. “The German-Philippine Chamber of Commerce and Industry, on behalf of the German Federal Ministry for… Read More
