Business
Ukraine-Russia conflict weakens PH stock index as peso stays firm
February 18, 2022, 7:37 pm
MANILA – The Philippines’ main equities index finished the week on the red on Ukraine-Russia concerns but the peso managed to finish sideways against the greenback. The Philippine Stock Exchange index (PSEi) shed 0.27 percent, or 20.14 points, to 7,418.79 points. All Shares also declined by… Read More
Fitch Ratings affirms PH status at 'BBB'
February 18, 2022, 7:36 pm
MANILA – Fitch Ratings on Friday retained its "BBB" classification for the Philippines due to its strong external position but maintained its negative outlook and noted its weakness on per capita income, governance standards, and human development. In a report, the debt rater said its latest… Read More
Middle East dairy firm eyes investment in PH
February 18, 2022, 5:54 pm
MANILA – Trade Secretary Ramon Lopez said a dairy company from the United Arab Emirates (UAE) is keen on investing in the Philippines. In a Palace briefing Friday, Lopez said this investment would help to lessen the country’s dependence on imported milk raw materials as the Philippines heavily… Read More
‘3-month rule’ in place on release of fuel subsidy: Palace
February 18, 2022, 5:25 pm
MANILA – The government has assured that funds have been allotted for the provision of fuel subsidy as soaring oil prices continue to take a toll on public utility vehicle (PUV) drivers. Cabinet Secretary Karlo Nograles, who is also acting presidential spokesperson, said in a Palace briefing on… Read More
PH gets $500-M investment for world-class data center
February 18, 2022, 10:49 am
MANILA – As the Philippines aims to be a hub for hyperscalers in the Asia Pacific region, a world-class data center will soon rise in Malvar, Batangas. In an e-mail message Thursday, real estate service firm Santos Knight Frank (SKF) Occupier Solutions and Services Manager for Data Centers Lead… Read More
BSP exec downplays 2nd round effects on inflation
February 17, 2022, 8:31 pm
MANILA – Monetary authorities have revised upwards the Bangko Sentral ng Pilipinas’ (BSP) inflation forecasts for this year and next year due to supply-side factors, but a central bank official discounted any second-round effects. The central bank’s average inflation forecast for 2022 has… Read More
PSEi slips still on Ukraine-Russia issue; peso stands firm
February 17, 2022, 7:44 pm
MANILA – News about the possible Federal Reserve rate decision and the Ukraine-Russia geopolitical concerns resulted in the negative close of the local stock barometer on Thursday, but the peso finished sideways against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.19… Read More
BSP keeps key rates steady amid higher inflation outlook
February 17, 2022, 7:14 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) maintained anew Thursday the central bank’s key policy rates given the manageable inflation projections for the next two years. Thus, the overnight reverse repurchase (RRP) rate was still at a record-low 2… Read More
More foreign investors urged to tap PH agri, fisheries sector
February 17, 2022, 6:45 pm
MANILA – The Department of Agriculture (DA) is inviting foreign investors to look for opportunities in the country’s agriculture and fisheries sector, particularly tuna. "We are proud exporters of tuna. We send this high-quality fish from General Santos City in Mindanao to the various… Read More
APEC posts double-digit growth in trade despite disruptions
February 17, 2022, 4:46 pm
JAKARTA – The Asia-Pacific Economic Cooperation (APEC) region, home to half of the world's trade, posted double-digit growth both in trade volume and value during the January-September 2021 period, according to an update of the APEC Policy Support Unit report. The volume of APEC’s merchandise… Read More
PH, UK reaffirm commitment for stronger economic ties
February 17, 2022, 4:36 pm
MANILA – The Philippines and the United Kingdom have reaffirmed their commitment to boost economic partnership, especially in terms of investments. In a statement Thursday, UK Prime Minister’s Trade Envoy Richard Graham made a courtesy call to Department of Trade and Industry (DTI) Secretary… Read More
Food firm starts big pivot to renewable energy use
February 17, 2022, 3:20 pm
MANILA – A push towards a “net zero” goal and support for the country’s commitment to cut total greenhouse gas (GHG) emissions have propelled a food firm to source its electricity needs from power producers that use renewable sources. Universal Robina Corp., one of the country’s largest… Read More
Investors' interest in Build, Build, Build projects remains high
February 17, 2022, 10:48 am
MANILA – Construction companies in the United Arab Emirates (UAE) are “very interested” to participate in the 'Build, Build, Build' infrastructure program despite the term of President Rodrigo Duterte will end mid-2022. In a radio interview on Wednesday evening, Department of Trade and… Read More
Lifting of mining ban to usher in manufacturing resurgence
February 17, 2022, 8:47 am
MANILA – The Australia Philippine Business Council (APBC) said the impacts of lifting the open-pit mining ban will spill over to other industries like manufacturing. In a statement, APBC said the decision of the government to lift the moratorium will revitalize the mining industry, usher in the… Read More
Risk-on sentiments boost PSEi; peso strengthens
February 16, 2022, 7:17 pm
MANILA – Optimism returned to the local bourse on Wednesday on news about the easing of tensions between Ukraine and Russia while the peso strengthened against the US dollar. The Philippine Stock Exchange index (PSEi) gained 1.95 percent, or 142.88 points, to 7,452.82 points. All Shares… Read More
BOC-Dumaguete hits highest ever monthly collection
February 16, 2022, 6:55 pm
DUMAGUETE CITY – The Bureau of Customs (BOC) Subport in this capital city has set a record accomplishment by hitting the highest ever monthly revenue collection last January. Gina Fatima Lasola, acting port collector, told the Philippine News Agency on Wednesday that the subport collected PHP947… Read More
Deposit accounts, e-money boost BSP's financial inclusion bid
February 16, 2022, 6:33 pm
MANILA – The launch of more deposit account and electronic money (e-money) products helps the Bangko Sentral ng Pilipinas (BSP) achieve its goal to have 70 percent of Filipino adults part of the formal financial system by 2023. “At the rate we’re moving and with the strong push by the… Read More
DOE reviewing terms of reference to study nat’l oil reserve
February 16, 2022, 4:56 pm
MANILA – The Department of Energy (DOE) is reviewing the terms of reference (TOR) for the public bidding of consultancy services to do the feasibility study as the government aims its own oil reserve operation. During the Laging Handa briefing Wednesday, DOE Assistant Director Rodela Romero… Read More
Cebuanos warned against unlicensed investment solicitors
February 16, 2022, 4:40 pm
CEBU CITY – The extension office of the Securities and Exchange Commission (SEC) on Wednesday advised Cebuanos to refrain from engaging individuals who pose as investment solicitors representing organizations not registered with the government. Vanessa Almeda, SEC-Cebu information officer, said… Read More
Senatorial bet to push for ‘buy local’ campaign
February 16, 2022, 4:06 pm
MANILA – Senatorial aspirant Gilbert “Gibo” Teodoro will push for an intensified campaign on patronizing Philippine-made products, focusing the “buy local” promotion elevating consumer awareness on the economic benefits of supporting locally made products. In a statement, Teodoro said… Read More
