Business
PH stocks index weakens, peso firms up vs. US dollar
January 28, 2022, 6:06 pm
MANILA – Federal Reserve rate hikes anticipation and reports of higher-than-expected growth of the Philippine and US economies in the last quarter of 2021 hurt the local bourse’s main index on Friday but the peso improved. The Philippine Stock Exchange index (PSEi) shed 0.30 percent, or 21.55… Read More
RCEP 'fully addressed' concerns of local agri sector: DTI
January 28, 2022, 5:50 pm
MANILA – The Department of Trade and Industry (DTI) has responded anew to the concerns raised by some farmer groups regarding the country’s participation in the Regional Comprehensive Economic Partnership (RCEP). In a statement Friday, Trade Secretary Ramon Lopez said the RCEP excludes highly… Read More
BSP, bankers assure public of measures vs. counterfeit notes
January 28, 2022, 4:19 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) and the Bankers Association of the Philippines (BAP) said stringent measures are in place against the proliferation of fake banknotes, like those dispensed through the automated teller machines (ATMs). This, as the central bank earlier called on the… Read More
Stocks rise as Q4 GDP beats forecasts; peso ends sideways
January 27, 2022, 8:26 pm
MANILA – Above-expectations expansion of the economy in the last quarter of 2021 pushed the local stocks gauge higher on Thursday while the peso finished sideways against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.27 percent, or 19.91 points, to 7,273.52… Read More
Ride-sharing firm bullish on PH ops as economy recovers
January 27, 2022, 8:22 pm
MANILA – The continued reopening of the Philippine economy made officials of a Singapore-based ride-sharing company optimistic about a four to five times expansion in ridership following the launch of its local operations in 2020. Swat Mobility Philippines’ ridership has reached around 1… Read More
SEC clears Philex Mining stock rights offer
January 27, 2022, 7:03 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the stock rights offer by Philex Mining Corporation for a maximum of PHP3.15 billion. In its meeting on January 27, the commission en banc resolved to render effective the registration statement filed by Philex… Read More
US Fed signals March rate hike to combat surging inflation
January 27, 2022, 6:59 pm
WASHINGTON – The U.S. Federal Reserve signaled on Wednesday that the central bank is ready to raise interest rates as soon as March to combat surging inflation as it exits from the ultra-loose monetary policy enacted at the start of the pandemic. "Supply and demand imbalances related to the… Read More
DTI approves SRP hike of 73 basic, prime goods
January 27, 2022, 6:56 pm
MANILA – The Department of Trade and Industry (DTI) released Thursday the updated suggested retail prices (SRPs) of basic necessities and prime commodities, approving SRP increments for 73 units. Data provided by DTI listed basic goods and prime commodities that hiked their SRPs, which include… Read More
Infra spending, other ‘bright spots’ in economic recovery cited
January 27, 2022, 6:54 pm
MANILA – Factors supporting continued economic rebound this year, including increased government spending for infrastructure, remain abundant especially after the economy posted another recovery in the last quarter of 2021, an economist said. In a report, Rizal Commercial Banking Corporation… Read More
PCC seeks ‘role’ in approving body for frequency reallocation
January 27, 2022, 5:15 pm
MANILA – The Philippine Competition Commission (PCC) has proposed for the amendments of rules in the National Telecommunications Commission (NTC) so that it can become a member of the approving body for frequency reassignment. PCC made the statement following the reallocation of frequencies… Read More
PH economic growth proof of strength, resilience amid crises
January 27, 2022, 3:46 pm
MANILA – Malacañang sees the growth of the Philippine economy as proof of the country's strength and resilience amid facing various challenges, acting presidential spokesperson, Cabinet Secretary Karlo Nograles, said Thursday. The latest data from Philippine Statistics Authority (PSA) showed… Read More
PH GDP grows 5.6% in 2021, on track to surpass pre-pandemic level
January 27, 2022, 2:00 pm
MANILA – The Philippine economy expanded by 7.7 percent in the last quarter of 2021 as easing mobility restrictions perked up consumer spending and business activities, bringing full-year growth to 5.6 percent and boosting optimism about staging a rapid rebound this year. “This (2021) growth… Read More
Apple keeps crown as world’s most valuable brand at $355-B
January 26, 2022, 9:30 pm
ANKARA – Apple has kept its crown as the world’s most valuable brand in 2022 with USD355 billion, as its value jumped 35 percent from last year, according to a new report. Apple was followed by tech-centered Amazon and Google, with values of USD350 billion and USD263 billion, respectively,… Read More
Jobs recovery seen as market reopens
January 26, 2022, 8:19 pm
MANILA – Online recruitment platform JobStreet has observed a 27-percent increase in job postings in 2021, signaling recovery since the pandemic struck. JobStreet Country Manager Philip Gioca said Wednesday there were 75,000 job postings per day from January to September last year from 59,000… Read More
ADB eyes blockchain for Asia cross-border securities transactions
January 26, 2022, 8:16 pm
MANILA — The Asian Development Bank (ADB) has launched a project to make cross-border securities transactions in Asia and the Pacific more efficient and secure through the use of blockchain technology. Working with leading blockchain companies, ADB will seek to develop ways to directly connect… Read More
PSEi stumbles ahead of Fed rate decision; peso remains afloat
January 26, 2022, 8:11 pm
MANILA – The wait-and-see stance on the Federal Reserve’s decision this week made investors wary, resulting in the negative close of the Philippine Stock Exchange index (PSEi) on Wednesday, but the peso finished sideways against the US dollar. The main stocks index shed 0.47 percent, or… Read More
High liquidity boosts demand for BSP’s term deposits
January 26, 2022, 7:47 pm
MANILA – High liquidity situation in the country continued to drive demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF), which registered a mixed direction for its interest rates on Wednesday. Data released by the central bank showed that the average rate of the… Read More
Economic recovery, vax program seen to boost PH BOP position
January 26, 2022, 7:12 pm
MANILA – The country’s balance of payment (BOP) position reverted to a surplus in December 2021 from a deficit in the previous month, and this is expected to improve as more countries vaccinate their population and more economies recover. Data released by the central bank on Thursday showed… Read More
10 jobs with highest pay rise in 2021
January 26, 2022, 5:32 pm
MANILA – The coronavirus disease 2019 (Covid-19) pandemic has brought disruptions in the job market but some employers offered salary increases in 2021 to attract applicants. According to JobStreet’s latest Salary Report, 49.7 percent of job advertisements in the online recruitment platform… Read More
US energy market under pressure due to Iran oil sanction: analyst
January 26, 2022, 1:32 pm
TEHRAN – Imposition of sanction on Iran's oil export has caused some difficulties for the United States when it comes to dealing with high energy prices ahead of 2022 midterm elections in the US, an expert says. Fereydoun Barkeshli, president of Vienna Energy Research Group in Austria, told… Read More
