Business
SEC approves Bank of Commerce IPO, SMC bond offering
February 16, 2022, 2:55 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) by Bank of Commerce and fixed-rate bond offering by San Miguel Corporation (SMC). In its February 15 meeting, the commission en banc resolved to render effective the registration… Read More
PH can absorb data center demand as Singapore limits projects
February 16, 2022, 2:49 pm
MANILA – The Philippines can absorb demand for data centers as the region’s data center powerhouse Singapore becomes more selective on this kind of projects in the future. In a briefing Wednesday, Santos-Knight Frank (SKF) Occupier Solutions and Services Manager for Data Centers lead Monica… Read More
ARTA launches mobile hotlines to receive complaints
February 16, 2022, 12:31 pm
MANILA – It will be more convenient for the public to report their complaints against erring government offices as the Anti-Red Tape Authority (ARTA) launches mobile hotlines to receive concerns on red tape. ARTA director general Jeremiah Belgica said the agency is now receiving more complaints… Read More
SEC collects P119-M in fees, penalties through online tool
February 15, 2022, 8:24 pm
MANILA – The Securities and Exchange Commission (SEC) has collected PHP119.07 million in fees and penalties, or an average of PHP11.9 million per month from March 2021 to January of this year, through its web-based system that allows cashless payment of business registrations, fees, and other… Read More
US oil seen at 2.2M barrel per day in 2023 if oil prices hit $100
February 15, 2022, 7:46 pm
ANKARA/ISTANBUL – If oil prices remain at or above $100 per barrel, it could unleash up to 2.2 million barrels per day (bpd) of US oil, driven by rising demand and continued supply tightness, according to a Rystad Energy analysis. Tight oil output in the core producing regions of the US,… Read More
PSEi slips on Fed, Ukraine concerns; peso nearly flat
February 15, 2022, 7:43 pm
MANILA – The Philippine Stock Exchange index (PSEi) finished the trade down anew on Tuesday partly on the Federal Reserve rate direction and the Ukraine-Russia tension, while the peso closed the day sideways against the US dollar. The main equities index shed 0.70 percent, or 51.21 points, to… Read More
BTr gains P120.76-B from RTB rate-setting auction
February 15, 2022, 7:40 pm
MANILA – The Bureau of the Treasury (BTr) awarded PHP120.764 billion worth of five-year retail treasury bond (RTB) during the rate-setting auction on Tuesday. It offered the debt securities for PHP30 billion and bids reached PHP183.44 billion. The coupon rate of the debt paper, which will… Read More
PEZA woos UAE oil firms to set up refineries in PH ecozones
February 15, 2022, 4:33 pm
MANILA – Philippine Economic Zone Authority (PEZA) director general Charito Plaza has invited oil companies in the United Arab Emirates (UAE) to build and operate oil refineries in the country. During the Global Biz with PEZA featuring the United Arab Emirates held in Dubai Tuesday, Plaza said… Read More
SEC orders 8 online illegal lenders to stop operations
February 15, 2022, 1:47 pm
MANILA – The Securities and Exchange Commission (SEC) continues its crackdown against illegal lending after ordering eight online lending operators to stop conducting lending activities without the necessary license. In an order issued February 8, the commission en banc directed CashWill,… Read More
Vax drive must continue without letup: Concepcion
February 15, 2022, 1:37 pm
MANILA – Presidential Adviser for Entrepreneurship Joey Concepcion bats for continuous vaccination drive both for primary and booster shots. During the Laging Handa public briefing Tuesday, Concepcion said the country might lose its gains on building up immunity against coronavirus disease 2019… Read More
JPMorgan says oil prices may hit $125 per barrel in 2nd quarter
February 15, 2022, 11:34 am
ANKARA – JPMorgan said Monday crude oil prices may hit $125 per barrel in the second quarter of this year. The US-based global investment bank and financial services company said on the supply side the Organization of the Petroleum Exporting Countries (OPEC) and its allies, dubbed as OPEC+, is… Read More
Moody's Analytics sees unchanged BSP rates this week
February 14, 2022, 8:25 pm
MANILA – Moody’s Analytics projects an unchanged policy rate for the Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) first rate setting meeting for the year on Thursday. “The Philippine central bank will hold its benchmark policy rate steady at 4 percent at its… Read More
Global markets start week with weak risk appetite
February 14, 2022, 8:21 pm
ISTANBUL – In global markets, the increased risk perception over fears of a Russian invasion of Ukraine has persisted at the beginning of the new week. After the US officials' statements on Friday regarding the crisis between Russia and Ukraine, the diplomatic steps taken over the weekend were… Read More
Bargain hunting boosts stocks index; peso nearly flat
February 14, 2022, 7:23 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose on Monday, still on bargain hunting, while the peso finished the day sideways against the US dollar. The local equities index increased by 1.25 percent, or 90.79 points, to 7,361.15 points. All Shares followed with a 0.54 percent, or… Read More
T-bill rates up on looming Fed rate hike, Ukraine-Russia tension
February 14, 2022, 6:39 pm
MANILA – The country’s Treasury bill (T-bill) rates rose on Monday partly on expectations for Federal Reserve rates tightening starting March 2022. The average rate of 91-day debt paper increased to 0.810 percent, the 182-day to 1.066 percent, and the 364-day to 1.475 percent. These were… Read More
PH, UAE to boost economic ties with investment, trade deals
February 14, 2022, 5:55 pm
MANILA – The Philippines and the United Arab Emirates (UAE) have pushed for stronger economic ties after signing a bilateral investment agreement, and officially kicking off talks for a trade deal. The Department of Trade and Industry (DTI) said the Investment Promotion and Protection Agreement… Read More
PH, Japan to hold high-level infra meeting on Feb. 16
February 14, 2022, 3:44 pm
MANILA – The Philippines and Japan will hold their 12th high-level meeting on infrastructure development and economic cooperation on February 16 via teleconferencing, focusing on the accomplishments on the latter’s supported big-ticket projects under President Rodrigo Duterte’s signature… Read More
DTI cites economic reforms in PH to UAE biz
February 14, 2022, 3:39 pm
MANILA – Trade Secretary Ramon Lopez has highlighted recent economic reforms of the Duterte administration to investors in the United Arab Emirates (UAE) as the country works to attract more foreign investments. In a statement Monday, the Department of Trade and Industry (DTI) said it… Read More
Oil firms hike prices for 7th straight week
February 14, 2022, 3:34 pm
MANILA – Oil companies will implement another big-time price hike on Tuesday for the seventh straight week given supply constraints in the global market. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will increase diesel prices by PHP1.05… Read More
Remittances, BPO receipts seen to boost gross int’l reserves
February 11, 2022, 8:37 pm
MANILA – The Philippines’ gross international reserves (GIR) declined to USD108.45 billion in January from USD108.79 billion in December but an economist said an increase or a record-high is possible as structural inflows remain strong. The Bangko Sentral ng Pilipinas (BSP) attributed the drop… Read More
