Business
Bankers urge public vs. becoming ‘money mules’
January 20, 2022, 8:35 pm
MANILA – The Bankers Association of the Philippines (BAP) is encouraging the public to be more discerning to prevent themselves from being money mules, as it vows to work with legislators to improve the country’s cybersecurity law. Money mule is someone who either intentionally or… Read More
PH stocks fall as US bond yields rise; peso strengthens
January 20, 2022, 8:25 pm
MANILA – The sustained rise of US bond yields continued to hurt the local stock barometer on Thursday, but the peso took a breather against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.31 percent, or 22.26 points, to 7,239.28 points. All Shares moved sideways after it… Read More
Fewer Filipinos expect decline in income amid pandemic: survey
January 20, 2022, 7:08 pm
MANILA – Fewer Filipinos are seeing a decline in household income in the future amid the coronavirus disease 2019 (Covid-19) pandemic, according to a TransUnion survey released Thursday. Based on the TransUnion Philippines Consumer Pulse Study for the fourth quarter of 2021, the number of… Read More
BSP swap deals with other central banks to give PH more buffer
January 20, 2022, 6:10 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) is continuously partnering with counterparts overseas to strengthen its capacity as a regulator and to give the country an additional buffer to withstand liquidity shocks and balance of payment (BOP) issues. In a virtual briefing on Thursday, BSP… Read More
RCEP aligns with PH economic reforms: AmCham
January 20, 2022, 5:46 pm
MANILA – The American Chamber of Commerce of the Philippines (AmCham) has joined the call for the immediate concurrence of the Senate on the Regional Comprehensive Economic Partnership (RCEP), saying the trade deal is aligned with the government’s economic reforms and programs. In a statement… Read More
DTI chief says vaccination saves lives, jobs
January 20, 2022, 4:50 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez believes that vaccines will not only save lives during the coronavirus disease 2019 (Covid-19) pandemic but also jobs for Filipinos. During the launch of “Resbakuna sa Botika” at Southstar Drug in Marikina City Thursday,… Read More
DBP backs green energy projects
January 20, 2022, 3:11 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has provided PHP2.1-billion in funding support for two hydro-energy projects that aim to augment power supply for the Luzon and Visayas grids, a top official said. In a statement Thursday, DBP president and chief executive officer… Read More
Oil sets new record amid rising tension in Mideast, Ukraine
January 19, 2022, 8:17 pm
ANKARA -- Oil prices surpassed the record high prices that were seen in the shale-induced oil crash in 2014 over geopolitical tensions in the United Arab Emirates (UAE) and Russia, both members of the OPEC+ group. International benchmark Brent crude was trading at $88.22 per barrel at 0636 GMT… Read More
Partnership with French gov’t to ramp up dairy sector
January 19, 2022, 7:43 pm
MANILA – Two days after forging a partnership with the French government to boost cooperation in food security, Agriculture Secretary William Dar on Wednesday directed the National Dairy Authority (NDA) and the Philippine Carabao Center (PCC) to recalibrate production strategies and seek… Read More
TDF rates slip anew on strong demand
January 19, 2022, 7:18 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) declined on Wednesday and demand remained strong, resulting in continued oversubscription. Data released by the central bank showed that the average rate of the shorter-tenor facility, which is among… Read More
PSEi dips on negative overseas sentiment; peso nearly unchanged
January 19, 2022, 7:08 pm
MANILA – The main stock gauge returned to the negative territory on Wednesday after a recovery in the previous session on volatile trading overseas, while the peso managed to close the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.12 percent, or 82.42… Read More
Gov’t simplifies S-Pass use for local travel
January 19, 2022, 6:45 pm
MANILA – The Anti-Red Tape Authority (ARTA) has simplified the use of the travel management system Safe, Swift and Smart Passage (S-Pass) to ease application of requirements for local trips. ARTA, along with other government agencies, signed and launched Joint Memorandum Circular (JMC) No. 1,… Read More
Stocks recover, peso weakens vs. US dollar
January 18, 2022, 8:01 pm
MANILA – Anticipation for the reopening of the United States markets following the Martin Luther King Jr. Day boosted the local bourse on Tuesday but the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 1.66 percent, or 120.13 points, to 7,343.96… Read More
Too early to think of 2022 growth target revisions: NEDA exec
January 18, 2022, 7:56 pm
MANILA – It is still early to think of any revisions in the 2022 growth target even with the Alert Level 3 implementation in several parts of the country, a National Economic and Development Authority (NEDA) executive said Tuesday. While Alert Level 3 movement restriction has been raised… Read More
BTr fully awards P35-B 10-year T-bond
January 18, 2022, 7:13 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded a fresh issuance of PHP35 billion 10-year Treasury bond (T-bond) on Tuesday following the high demand for the debt paper amidst the uptick in its coupon rate. The coupon rate of the T-bond, which will be issued this January 20, is 4.875… Read More
Oil prices hit 7-year high over Mideast tensions, supply woes
January 18, 2022, 6:36 pm
ANKARA – Oil prices climbed to their highest level in the last seven years on Tuesday on supply woes after an attack by Yemen’s Houthi rebel group on Abu Dhabi, and supply disruptions from the inability of some OPEC+ countries in meeting their monthly quotas. International benchmark Brent… Read More
Gov’t targets to narrow unemployment rate near pre-Covid level
January 18, 2022, 6:33 pm
MANILA – The government aims to bring down the unemployment rate close to pre-pandemic level of around 5 to 5.5 percent this year, Department of Trade and Industry (DTI) Secretary Ramon Lopez said Tuesday. In a virtual presser of the Presidential Communications Operations Office-Office of the… Read More
DTI monitors Cebu drugstores amid rising complaints of flu
January 18, 2022, 5:56 pm
CEBU CITY – Amid rising complaints of flu-like ailments here, the Department of Trade and Industry (DTI)-Region 7 on Tuesday started monitoring major drugstores to prevent hoarding and overpricing of medicines for symptoms of influenza. Joy Suralta, division chief of the DTI-7 Consumer… Read More
BOI sets P1-T investment approval target for 2022
January 18, 2022, 3:02 pm
MANILA – The Board of Investments (BOI) is confident of hitting the PHP1-trillion mark investment approvals this year after the setbacks that happened in 2021 due to the pandemic. Trade Secretary and BOI chair Ramon Lopez is optimistic about the outlook following the improvements in foreign… Read More
BIR’s digital transformation projects to benefit taxpayers
January 18, 2022, 2:54 pm
MANILA – The Bureau of Internal Revenue (BIR) has a total of 49 projects in the first phase of its 10-year Digital Transformation (DX) Roadmap, of which 14 have already been launched or implemented as of the last quarter of 2021. In a report to Finance Secretary Carlos Dominguez III, the BIR… Read More
