Business
PH office market to continue recovery in 2022
February 9, 2022, 5:02 pm
MANILA – Transactions in the office space market recovered in 2021, and property market experts projected that the trend will continue this year. Professional services and investment management firm Colliers reported that office transactions last year increased by 18 percent to 422,000 square… Read More
Insurance industry premiums grow 64% under Duterte presidency
February 9, 2022, 2:29 pm
MANILA – The Philippine insurance industry saw robust growth under the Duterte administration, with total gross premiums rising 64.3 percent from PHP169.6 billion in the third quarter of 2016 to PHP278.7 billion in the same period in 2021, according to data from the Insurance Commission… Read More
PCC, NPC partner to address issues in digital economy
February 9, 2022, 2:18 pm
MANILA – The Philippine Competition Commission (PCC) and the National Privacy Commission (NPC) have forged a partnership to boost cooperation in addressing anti-competitive behavior and data privacy issues amid the growing digital economy. PCC chairperson Arsenio Balisacan and NPC chairperson… Read More
Stocks recover ahead of earnings reports; peso weakens
February 8, 2022, 7:32 pm
MANILA – The Philippine Stock Exchange index (PSEi) recovered on Tuesday but the peso weakened against the US dollar. The local stock barometer rose by 1.06 percent, or 77.93 points, to 7,458.23 points. All Shares followed with a jump of 0.76 percent, or 29.57 points, to 3,929.18… Read More
Geopolitical tensions add to tightness in European gas market
February 8, 2022, 6:54 pm
ANKARA – Rising geopolitical tensions in the past few months have contributed to the already tight European natural gas market and prompted the search for additional supplies, Fitch Ratings said in a statement Monday. Intensified geopolitical tensions may have delayed Gazprom’s Nord Stream 2… Read More
SEC halts more illegal online lending operators
February 8, 2022, 5:22 pm
MANILA – The Securities and Exchange Commission (SEC) has ordered five illegal online lending operators to stop their operations without prior authorization from the commission. In an order issued February 3, the commission en banc directed Tacoloan, VCash, 365 Cash, SwipeCash, and BootCash to… Read More
10-yr T-bond rate tracks rise in US treasuries yield
February 8, 2022, 5:11 pm
MANILA – National Treasurer Rosalia de Leon said the increase in the rate of 10-year Treasury bond (T-bond) Tuesday is marginal and is within secondary market rates. The average rate of the debt paper moved to 5.093 percent from 4.831 percent previously. The Bureau of the Treasury (BTr)… Read More
BOC collects P19-B rice customs duties, P3.75-B from pork imports
February 8, 2022, 2:27 pm
MANILA – The Bureau of Customs (BOC) has collected a total of PHP18.9 billion in duties from rice imports in 2021. In his report during a recent Department of Finance (DOF) executive committee (Execom) meeting, Customs Commissioner Rey Leonardo Guerrero said last year’s collection from rice… Read More
Global trade in January surpasses pre-pandemic level: report
February 8, 2022, 1:12 pm
ANKARA – Global trade in January surpassed the pre-pandemic level but the Omicron variant poses a threat to the Chinese economy, according to a research report published on Monday. Global trade increased 2.4 percent in January from the previous month, said the report by the Kiel Institute for… Read More
NEDA cites role of innovation in achieving UMIC status in 2022
February 7, 2022, 7:38 pm
MANILA – Socioeconomic Planning Secretary Karl Kendrick Chua has urged the National Innovation Council (NIC) to work together to promote innovative solutions and raise the country’s overall productivity. “Higher productivity will allow us to graduate from our current low middle-income… Read More
T-bill rates post mixed results
February 7, 2022, 7:34 pm
MANILA – The rates of Treasury bills (T-bill) moved sideways on Monday and demand for the debt paper remained strong with bids at more than twice the offer volume across the board. The average rate of the 91-day paper rose to 0.710 percent, the 182-day’ slipped to 1.022 percent, and the… Read More
Stocks down ahead of MSCI rebalancing; peso weakens
February 7, 2022, 7:00 pm
MANILA – The stock market ended Monday in the negative territory ahead of the realignment in the list of companies included in the Philippine Stock Exchange index (PSEi) and the peso followed. The local stock barometer declined by 1.02 percent, or 76.05 points, to 7,380.30 points. All… Read More
More investments seen with easing int'l arrival protocols
February 7, 2022, 5:28 pm
MANILA – Potential investments to the Philippines that were set aside amid the pandemic are expected to push through with the easing of restrictions for foreign travelers, a trade official said Monday. During the Laging Handa briefing, Department of Trade and Industry (DTI) Undersecretary Ruth… Read More
Oil price hikes continue with no end in sight
February 7, 2022, 3:02 pm
MANILA – Oil companies will implement a big-time price hike on their products effective Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell will increase gasoline prices by PHP1.05 per liter and PHP1.20 per liter on diesel. Caltex, Seaoil, and… Read More
BIR, BOC ordered to beef up cybersecurity measures
February 7, 2022, 2:56 pm
MANILA – Finance Secretary Carlos Dominguez III has directed the country’s main revenue-generating agencies – the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) – to further fortify their respective systems against hacking and other cyber threats as he expressed concern… Read More
Lifting of alert level system should be gradual: DTI
February 7, 2022, 2:47 pm
MANILA – The Department of Trade and Industry (DTI) on Monday said the alert level system should be lifted gradually as the country transitions from a pandemic to an endemic mindset. During the Laging Handa public briefing, DTI Undersecretary Ruth Castelo said Filipinos should be accustomed… Read More
PSE-listed firms disburse P402-B cash dividends in 2021
February 6, 2022, 6:32 pm
MANILA – The amount of cash dividends paid out by publicly listed companies (PLCs) to common shareholders surged by 17.3 percent to PHP402.18 billion in 2021 from previous year’s PHP342.88 billion, data collated by the Philippine Stock Exchange (PSE) showed. These translate to dividend yields… Read More
GSP+ extension, free trade agreement with EU eyed
February 5, 2022, 8:21 pm
MANILA – A trade official is pushing for the extension of the European Union’s (EU) trade preferences program while pursuing a possible free trade agreement (FTA) with the bloc for boosting bilateral trade relations. Angelo Salvador Benedictos, director of the DTI-Bureau of International Trade… Read More
Reopening of economy benefits domestic inflation: NEDA
February 4, 2022, 10:10 pm
MANILA – Ensuring the continued reopening of the economy will benefit domestic inflation rate, which further slowed down to 3 percent in January 2022, an official of National Economic and Development Authority (NEDA) said on Friday. The sustained deceleration of domestic rate of price increases… Read More
PSEi up but peso weakens
February 4, 2022, 7:25 pm
MANILA – Deceleration of domestic inflation rate in January 2020 allowed the main stock index to finish the week up but the peso weakened as oil prices in the international market continued to increase. The Philippine Stock Exchange index (PSEi) rose by 1 percent, or 73.58 points, to 7,456.35… Read More
