Business
BSP's 28-day bill rate drops
February 4, 2022, 7:02 pm
MANILA – Oversubscription was registered anew during the auction for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities on Friday, amid the higher offer volume this week. Data released by the central bank showed that total tenders for the BSP bills reached PHP190.2 billion, higher than… Read More
Looming Fed rate hikes, oil price jumps seen to push BSP rates up
February 4, 2022, 5:50 pm
MANILA – The domestic inflation rate has decelerated but economists forecast a possible hike in Bangko Sentral ng Pilipinas’ (BSP) key policy rates this year since upside pressures remain and because of the looming Federal Reserve rate hikes. The Philippine Statistics Authority (PSA) reported… Read More
Improved cybercrime policies seen from BAP, DOJ pact
February 4, 2022, 5:47 pm
MANILA – Policies and laws against cybercriminals are seen to improve following the closer collaboration between the Bankers Association of the Philippines (BAP) and the Department of Justice (DOJ). During the virtual memorandum of understanding (MOU) signing ceremony on Friday, BAP… Read More
PEZA gets P329-B investments from IT-BPO firms in 2 decades
February 4, 2022, 4:08 pm
MANILA – Information technology and business process outsourcing (IT-BPO) companies in the Philippine Economic Zone Authority (PEZA) invested some PHP328.6 billion in the past two decades, an official said on Friday. PEZA deputy director general Tereso Panga, in his personal social media… Read More
Slowdown of inflation in January '22, 'positive news': Diokno
February 4, 2022, 12:04 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno described as “positive news” the continued deceleration of the domestic inflation rate, which slowed further to 3 percent in January 2022 from the previous month’s 3.2 percent. “It supports the narrative that inflation… Read More
Slower inflation backs central bank's accommodative policy: BSP
February 4, 2022, 11:56 am
MANILA – The further deceleration of the domestic inflation rate as of January provides authorities the leeway to keep the central bank’s monetary policy stance steady, the Bangko Sentral ng Pilipinas (BSP) said. The rate of price increases further slowed to 3 percent in the first month of the… Read More
PSEi slips on profit taking; peso closes sideways
February 3, 2022, 8:29 pm
MANILA – Bargain hunters reigned in the local bourse on Thursday resulting in the negative close of the main index, but the local currency finished sideways against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.02 percent, or 76.22 points, to 7,382.77 points. All Shares… Read More
Improving biz confidence to keep office market strong in 2022
February 3, 2022, 8:25 pm
MANILA – Philippine office demand will continue to grow driven by information technology-business process management (IT-BPM) firms despite challenges posed by coronavirus disease 2019 (Covid-19) variant Omicron, according to a real estate brokerage services firm. “Omicron has affected only… Read More
56% of total complaints filed with BSP in 2020 resolved
February 3, 2022, 8:18 pm
MANILA – Fifty six percent of the 23,275 total complaints logged with the Bangko Sentral ng Pilipinas (BSP) in 2020 have been resolved in favor of the financial consumers, BSP Governor Benjamin Diokno said. In a virtual briefing on Thursday, Diokno said the favorable resolution of the… Read More
Trade chief remains optimistic of RCEP ratification
February 3, 2022, 7:39 pm
MANILA – Trade Secretary Ramon Lopez remains optimistic that the Senate will eventually concur with the country’s participation in the Regional Comprehensive Economic Participation (RCEP) when the session resumes this year. This as the upper house failed to concur on RCEP ratification, a… Read More
PCC to bar developers, telcos on exclusive ISP deals with tenants
February 3, 2022, 6:13 pm
MANILA – The Philippine Competition Commission (PCC) is finalizing a memorandum circular seeking to prohibit developers and telecommunications firms from imposing exclusive deals between internet service providers (ISP) and tenants of property development projects. “We, in the Commission, are… Read More
Strong competition policy to boost innovation, create more jobs
February 3, 2022, 5:03 pm
MANILA – Socioeconomic Planning Secretary Karl Kendrick Chua said on Thursday that a strong competition policy will help strengthen the Philippines’ foundation to achieve upper-middle-income country status, and to sustain growth towards high-income country status in one generation. "By… Read More
PCC urges voluntary review of firms with huge M&A deals
February 3, 2022, 4:53 pm
MANILA – The Philippine Competition Commission (PCC) is urging firms with huge merger and acquisition (M&A) transactions for voluntary review as they will not be exempted from the antitrust body’s motu proprio review when the PHP50-billion notification threshold will be lifted in September… Read More
SEC to implement cap on loans by lending, financing firms
February 3, 2022, 2:32 pm
MANILA – The Securities and Exchange Commission (SEC) has released the draft memorandum circular that will implement a cap on interest rates and other fees by lending and financing companies, and their online lending platforms (OLPs). The proposed guidelines, released on January 27 for public… Read More
DBP finances MSME-friendly mall in Caloocan
February 3, 2022, 1:17 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has approved a PHP2.5-billion credit assistance to Innov Block Development Corporation (IBDC) to finance the ongoing construction and completion of The Limketkai Podium –a lifestyle and commercial mall located in the northern part… Read More
PCCI, DICT partner for satellite broadband connectivity
February 2, 2022, 8:05 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has partnered with the Department of Information and Communications Technology (DICT) to pilot test satellite broadband connectivity that will provide internet connection in remote areas. “It is for this reason that PCCI… Read More
Strong demand continues for BSP’s term deposits
February 2, 2022, 6:51 pm
MANILA – Interest rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) posted mixed results anew, but demand remained strong, thus the continued oversubscription. Data released by the central bank on Wednesday showed that the average rate of the seven-day facility,… Read More
PH stock index tracks Wall Street’s rise; peso weakens
February 2, 2022, 6:16 pm
MANILA – Risk-on sentiments again boosted the Philippine Stock Exchange index (PSEi) on Wednesday but the peso depreciated against the US dollar. The main stock index gained 1.32 percent, or 97.34 points, to 7,458.99 points. All Shares rose by 0.74 percent, or 28.87 points, to 3,933.07… Read More
5-year T-bonds rate rises
February 2, 2022, 6:06 pm
MANILA – National Treasurer Rosalia de Leon said the increase in the rate of five-year Treasury bonds (T-bond) on Wednesday remains in line with the secondary market. The average rate of the debt paper moved to 4.089 percent from 4.012 percent previously. The Bureau of the… Read More
Boosting support for farmers, biz needed as PH enters trade deals
February 2, 2022, 5:31 pm
MANILA – Support for local farmers and businesses should be strengthened as the country opens itself to more free trade deals like the Regional Comprehensive Economic Partnership (RCEP), a former cabinet member and senatorial aspirant said. In a statement Wednesday, senatorial bet Gilbert… Read More
