Business
Omicron, ‘Odette’ stall PH manufacturing growth in January
February 2, 2022, 3:16 pm
MANILA – The performance of the local manufacturing sector has stalled at the start of the year due to the Omicron variant surge after the holidays and the impact of Typhoon Odette, London-based information and analytics firm IHS Markit reported Wednesday. In its Philippines Manufacturing… Read More
BOC logs P6-B collection surplus in January
February 2, 2022, 2:14 pm
MANILA – The Bureau of Customs (BOC) on Wednesday reported a collection surplus of over PHP6 billion in January. Based on the preliminary report from its Financial Service, the bureau said last month's collection amounted to PHP58.158 billion, higher by 11.58 percent than its target collection… Read More
Program promoting inclusive digital finance in PH launched
February 2, 2022, 12:49 pm
MANILA – A new initiative designed to increase local financial institutions’ access to inclusive digital finance has been launched, the FinTech Alliance.ph and Alibaba Cloud announced on Wednesday. The Fintech Industry Sandbox Program, the first-of-its-kind in support of massive… Read More
Sony buys video game developer Bungie for $3.6-B
February 1, 2022, 7:35 pm
ISTANBUL – Japanese technology giant Sony announced an agreement for acquiring 100 percent shares of the US-based video game developer Bungie for $3.6 billion. The acquisition will enable Sony to access Bungie's game services and expertise. "Bungie will continue to operate independently,… Read More
Economist sees PH debt-to-GDP ratio to remain sustainable
February 1, 2022, 7:27 pm
MANILA – The national government’s (NG) outstanding debt as of end-December 2021 rose to PHP11.729 trillion, up by 19.7 percent year-on-year, but an economist considers this level relative to domestic output still sustainable. Data released by the Bureau of the Treasury (BTr) on Tuesday… Read More
PCCI calls for accessible, free antigen test for public
February 1, 2022, 5:55 pm
MANILA – The country's largest business organization, Philippine Chamber of Commerce and Industry (PCCI), has called for free and more accessible coronavirus disease 2019 (Covid-19) antigen test for the public as the alert level eased in Metro Manila and other areas in the county. In a… Read More
Markets to focus on major central banks' rate decisions this week
February 1, 2022, 1:12 pm
ANKARA – As Fed-driven volatility continues in asset prices, markets will focus on the many data releases scheduled for this week, especially US non-farm employment, as well as interest rate decisions from European central banks. As for pricing in bond markets, the likelihood that the Fed will… Read More
ECCP exec cites reforms needed to be prioritized by next admin
February 1, 2022, 12:37 pm
MANILA – Policy reforms of the next administration should focus on curbing corruption and human capital development, an executive of the European Chamber of Commerce of the Philippines (ECCP) said. ECCP president Lars Wittig said a transparent government that upholds public trust is important… Read More
LPG price up by P44 per 11-kg cylinder starting Feb. 1
February 1, 2022, 9:32 am
MANILA – The price of liquefied petroleum gas (LPG) is set to increase by PHP4 per kilogram starting Tuesday. This translates to a PHP44-hike for a regular 11-kilogram LPG cylinder. LPG brands that implemented the price hike include Petron, Phoenix Super LPG and Solane. Auto-LPG prices also… Read More
More investors bullish on stock market; PSEi seen to hit 8,400
January 31, 2022, 9:10 pm
MANILA – Retail investors are turning bullish on the stock market despite concerns about the May elections and coronavirus resurgence as the Philippine Stock Exchange index (PSEi) is expected to end the year at 8,400, according to an online stockbroker. COL Financial Investment Management… Read More
Passage of economic bills to boost post-pandemic recovery
January 31, 2022, 7:37 pm
MANILA – The urgent passage of the three landmark economic liberalization bills into law will be crucial in accelerating growth in 2022 and beyond, the National Economic and Development Authority (NEDA) said. In his presentation during the #AskNEDA media briefing on Monday, Socioeconomic… Read More
PH stocks index, peso rise on investors’ optimism
January 31, 2022, 7:31 pm
MANILA – Risk-on sentiments lifted both the Philippine Stock Exchange index (PSEi) and the peso, which strengthened to the 50-level on Monday ahead of economic releases for February 2022. The main index rose by 1.51 percent, or 109.68 points, to 7,361.65 points. All Shares jumped by 1.25… Read More
T-bill rates decline on expected slower inflation rate
January 31, 2022, 6:09 pm
MANILA – The continued strong demand for Treasury bills (T-bills) resulted in the drop of its interest rates across-the-board on Monday. The average rate of the 91-day paper declined to 0.691 percent, the 182-day to 1.023 percent, and the 364-day paper to 1.408 percent. These were at 0.693… Read More
Oil prices up for 5 straight weeks
January 31, 2022, 4:44 pm
MANILA – Consumers are facing higher prices of petroleum products as February kicks off. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Phoenix Petroleum, PTT Philippines, Seaoil, Shell, and Unioil will increase both diesel and gasoline prices by PHP0.75 per liter starting Tuesday… Read More
Imported vehicle sales grow 14% in 2021
January 31, 2022, 2:43 pm
MANILA – The appetite of the local market for imported vehicles recovered in 2021 as sales grew 14 percent compared to 2020 numbers, the Association of Vehicle Importers and Distributors (AVID) reported Monday. AVID said imported vehicle sales last year increased to 58,916 units from 51,851… Read More
Continued vax allows PH to further reopen economy safely
January 31, 2022, 1:43 pm
MANILA – With the easing of travel restrictions and lowering of alert level in Metro Manila and other parts of the country, balancing health and economy will be possible by continuing the vaccination drive against coronavirus disease 2019 (Covid-19), an adviser to the President said. During the… Read More
Matchmaking platform launched for MSMEs going global
January 30, 2022, 6:28 pm
MANILA – Micro, small and medium enterprises (MSMEs) in Southeast Asian countries finding new customers, suppliers, and events where they can showcase their products and technologies for free can utilize a business matching portal to help them go international. The Association of Southeast Asian… Read More
BSP 28-day securities rate drop anew
January 28, 2022, 8:50 pm
MANILA – High liquidity situation continued to drive demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities, which posted another interest rate decline on Friday. Data showed that average rate of the debt paper, which is among the BSP’s excess liquidity mopping tool, slipped to… Read More
BSP leads stronger bid towards financial inclusion
January 28, 2022, 6:58 pm
MANILA – Financial inclusion encompasses not just broader access to financial products but provides opportunities even for people in the lower bracket of society to move up the ladder, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Friday. In his speech during the hybrid event… Read More
Eased restrictions for travelers to help PH sustain econ growth
January 28, 2022, 6:37 pm
MANILA – The government's easing of restrictions for international travelers will help sustain the country's economic growth amid the coronavirus disease 2019 (Covid-19) pandemic, Presidential Adviser for Entrepreneurship and Go Negosyo founder Joey Concepcion said on Friday. “This will… Read More
