Business
SEC approves Century Properties bond offering
January 26, 2022, 1:20 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the public offering of Century Properties Group for PHP6 billion worth of fixed-rate bonds under shelf registration. In its meeting on January 25, the commission en banc resolved to render effective the registration… Read More
US stocks end lower as market turbulence continues
January 26, 2022, 12:45 pm
ANKARA – Major US stock indexes closed with losses Tuesday in a volatile session amid uncertainties over whether the Federal Reserve will signal an interest rate increase soon and rising geopolitical tensions. The S&P 500 ended down 53.68 points, or 1.2 percent, at 4,356, while the… Read More
Stocks recover on bargain hunting; peso ends sideways
January 25, 2022, 8:29 pm
MANILA – Bargain hunting lifted the Philippine Stock Exchange index (PSEi) on Tuesday while the peso finished the day sideways against the US dollar. The main stocks index inched up by 0.49 percent, or 35.57 points, to 7,288.21 points. All Shares also rose by 0.44 percent, or 16.97 points,… Read More
7-yr T-bond rate rises
January 25, 2022, 8:18 pm
MANILA – The rate of re-issued seven-year Treasury bond (T-bond) rose on Tuesday and demand for the debt paper remained strong. The average rate of the securities moved to 4.689 percent from 4.468 percent in the previous session. The Bureau of the Treasury (BTr) offered the debt paper for… Read More
BSP chief eyes within-target 2022 inflation
January 25, 2022, 8:08 pm
MANILA – Monetary officials are optimistic of within-target inflation this year despite the higher-than-target print in 2021 as well as the number of upside risks that include supply-side pressures and higher global commodity prices. In an Open Letter to the President dated January 18 and a… Read More
AMRO cuts 2022 growth forecast for PH amid movement restrictions
January 25, 2022, 6:35 pm
MANILA – The Asean Macroeconomic Research Office (AMRO) has slashed its growth projection for the Philippine economy for this year given the impact of the reimplementation of stricter movement restriction due to the Omicron variant of coronavirus disease 2019 (Covid-19). However, AMRO raised… Read More
Enough power supply for May polls: DOE
January 25, 2022, 5:56 pm
MANILA – The Department of Energy (DOE) has assured the public that there will be enough power supply during the May 9 elections. In a press briefing Tuesday, DOE director Mario Marasigan said the outlook hinges on the start of the original commercial operation of GNPower Dinginin 2, which has… Read More
Investment promotion agencies call for RCEP concurrence in Senate
January 25, 2022, 4:30 pm
MANILA – The country’s investment promotion agencies (IPAs) and some business organizations have called for the immediate concurrence of the Regional Comprehensive Economic Partnership (RCEP) by the Senate. The IPAs and business groups said the Philippines cannot afford to delay or not… Read More
T-bill rates slip ahead of Fed meeting
January 24, 2022, 8:23 pm
MANILA – National Treasurer Rosalia de Leon has attributed the decline across-the-board in the rates of Treasury bills (T-bills) on Monday partly to anticipations ahead of the Federal Reserve meeting this week. The average rate of the 91-day paper slipped to 0.693 percent, the 182-day to… Read More
Stocks index slips ahead of Fed meeting; peso ends sideways
January 24, 2022, 8:08 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended the week’s first trading day in the negative territory ahead of the Federal Reserve meeting while the peso kept its footing against the US dollar. The main stocks index shed 0.56 percent, or 40.88 points, to 7,252.64 points. All… Read More
PH digital transactions to grow despite challenges: BSP chief
January 24, 2022, 6:58 pm
MANILA – Digital transactions in the Philippines are expected to further increase as regulators and other stakeholders continue to strengthen the system and put additional safeguards to thwart financial transaction-related cyberattacks. While the central bank has received more complaints… Read More
Another big-time oil price hike set this week
January 24, 2022, 6:46 pm
MANILA – Prices of petroleum products will increase for the fourth consecutive week effective Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Petron, Seaoil, and Shell said they will raise gasoline prices by PHP1.45 per liter while diesel prices will rise by PHP1.90 per… Read More
BSP eyes to finish probe into BDO cyberattack by month’s end
January 24, 2022, 5:53 pm
MANILA – Monetary authorities aim to finish by the end of this month the investigation on cyber-hacking of several accounts with the Sy-led BDO Unibank Inc. (BDO). “In addition to that ongoing investigation, the BSP continues its cyber threat surveillance with the latest reports that… Read More
Priority areas for public-private collab on PH recovery cited
January 24, 2022, 4:13 pm
MANILA – The government and the private sector need to collaborate to help improve the prospects for economic recovery, increase productivity in the country, and respond to climate change, the National Economic and Development Authority (NEDA) said in a statement Monday. In his message during… Read More
SEC stops Goodpocket, Easymoney online lending operations
January 24, 2022, 1:48 pm
MANILA – The Securities and Exchange Commission (SEC) has ordered Goodpocket and Easymoney Lending Corporation to stop conducting lending operations without the necessary licenses from the commission. In an order issued January 18, the commission en banc directed Goodpocket and Easymoney to… Read More
PH stocks index recovers, peso little changed from US dollar
January 22, 2022, 8:55 am
MANILA – Bargain hunting lifted the local bourse on Friday following its negative close in recent days while the peso ended the week sideways against the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.75 percent, or 52.24 points, to 7,293.52 points. All Shares jumped by 0.35… Read More
PH economic growth seen at 5% in 2021; 7.5% in 2022
January 21, 2022, 5:46 pm
MANILA – The Philippine economy is seen to have expanded by 5 percent in 2021 and is forecast to grow by 7.5 percent this year, an economist of Standard Chartered Bank said Friday. Both gross domestic product (GDP) projections are within the inter-agency Development Budget and Coordination… Read More
PH, Russia reaffirm efforts on potential use of small reactors
January 21, 2022, 4:37 pm
DUBAI, United Emirates – The Philippine Department of Energy (DOE) and the Russian State Atomic Energy Corporation (ROSATOM) on Thursday reaffirmed their collaborative efforts to explore the potential utilization of small modular reactor (SMR) technology in the Philippines during the Small… Read More
BSP 28-day Bills' rate drop anew as demand remains strong
January 21, 2022, 1:58 pm
MANILA – Normalization of domestic liquidity after the Christmas holidays continues to drive demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day Bills, which posted another interest rate decline on Friday. Data released by the central bank showed that weighted average accepted yield of… Read More
Faster internet connection fulfilled under Duterte admin
January 21, 2022, 9:17 am
MANILA – The Duterte administration has delivered its promise of faster internet connection for Filipinos even before its term ends this year. Anti-Red Tape Authority (ARTA) Director General Jeremiah Belgica said Friday the whole-of-government approach of simplifying the process of putting up… Read More
