Business
Risk-on sentiments sustain PSEi gains; peso strengthens
January 13, 2022, 7:31 pm
MANILA – Positive sentiments continued to buoy the local bourse on Thursday, and this benefited the local currency as well after it again touched the 50-level against the US dollar. The Philippine Stock Exchange index (PSEi) gained by 1.28 percent, or 92.62 points, to 7,307.75 points. All… Read More
DBP forges ties with Filipino inventors
January 13, 2022, 7:00 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has forged a partnership with the Filipino Inventors Society, Inc. (FIS) to provide more focused support for the development of viable local projects and indigenous technologies, a top official said. DBP president and chief… Read More
Pharma firm eyes ‘fill and finish’ ops for new Covid-19 vax
January 13, 2022, 6:57 pm
MANILA – Local pharmaceutical firm Lloyd Laboratories Inc. (LLI) is eyeing a “fill and finish” operation for a new Chinese vaccine against coronavirus disease (Covid-19) that is still undergoing clinical trials. In a virtual media interview Thursday, LLI medical consultant Dr. Antonio… Read More
Locally produced Covid drug molnupiravir can cut prices up to 50%
January 13, 2022, 1:50 pm
MANILA – As Philippine pharmaceutical firm Lloyd Laboratories Inc. (LLI) aims producing molnupiravir in the country, prices of this coronavirus disease 2019 (Covid-19) drug could go down by 30 to 50 percent. LLI Business Development director Christopher Bamba said retail prices of imported… Read More
Shrimp head: From food waste to business
January 12, 2022, 9:01 pm
MANILA – To mitigate food waste, the National Fisheries Research and Development Institute (NFRDI) pushed to turn some of it into “something valuable.” Rosa Bassig, senior science research specialist of the Fisheries Postharvest Research and Development Division of NFRDI, said one of the… Read More
World Bank cuts global growth forecast for 2022
January 12, 2022, 8:26 pm
ANKARA – The World Bank on Tuesday lowered its global economic growth forecast to 4.1 percent for this year, down 0.2 percentage points from its previous forecast. Next year, the global economy is projected to grow 3.2 percent, revised upward 0.1 percentage point, the bank said in its latest… Read More
PH financial institutions get improving outlook this year
January 12, 2022, 8:10 pm
MANILA – Fitch Ratings has included its rated Philippine financial institutions (FIs) as among the 12 percent of its 141 rated firms globally that have improving outlooks for 2022. In a report emailed Wednesday, the debt rater said 80 percent, or 113 issuers, have neutral outlooks while 8… Read More
Bargain hunting lifts stocks index; peso ends sideways
January 12, 2022, 7:24 pm
MANILA – Risk-on sentiments reigned in the local bourse on Wednesday partly due to the decline of US Treasury rates while the local currency finished the trade sideways against the greenback despite touching the 50-level mid-trade. The Philippine Stock Exchange index (PSEi) rose by 1.83… Read More
DTI reminds public to avoid panic buying of flu meds
January 12, 2022, 6:59 pm
MANILA – The Department of Trade and Industry (DTI) has reiterated its call to avoid panic buying of flu medicines despite the rising cases of coronavirus disease 2019 (Covid-19). This, as the DTI and the Department of Health (DOH) have pushed through in limiting the purchase of flu medicines… Read More
BSP term deposit facility rates slip anew
January 12, 2022, 6:54 pm
MANILA – High domestic liquidity-driven demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) resulted in the continued drop of its interest rates. BSP data released on Wednesday showed that the weighted average interest rate of the seven-day TDF fell to 1.7232… Read More
Truckers seen to save P1.9-B with Unified Logistics Pass
January 12, 2022, 6:50 pm
MANILA – The logistics industry is expected to save some PHP1.92 billion with the streamlining of applications and fees for truckers. The Anti-Red Tape Authority (ARTA) launched on Wednesday the Unified Logistics Pass (ULP), a single-window application and payment for trucking companies for all… Read More
SEC adopts zero F2F setup amid Covid-19 surge
January 12, 2022, 6:02 pm
MANILA – The Securities and Exchange Commission (SEC) is implementing a zero face-to-face transaction policy in its offices in Metro Manila starting January 13 until further notice, in light of the rising number of coronavirus disease 2019 (Covid-19) cases in the country. In a notice issued… Read More
Local auto industry ends 2021 with 20% growth
January 12, 2022, 3:13 pm
MANILA – The local automotive industry has registered a 20-percent increase in sales for the full year of 2021, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported Wednesday. Local car assemblers ended last year with… Read More
Global markets focus on Fed officials speeches
January 11, 2022, 8:06 pm
ISTANBUL – As global markets try to rebalance after uncertainty due to the US Federal Reserve's (Fed) signals for earlier interest rate hikes, investors and analysts have set their eyes on speeches by Fed officials, including Chairman Jerome Powell. While the Fed's hawkish stance and the… Read More
PH economy seen growing 6-7% in 2022
January 11, 2022, 8:00 pm
MANILA – The Philippine economy is expected to return to its 6 to 7-percent growth trajectory in 2022 after nearly two years of grappling with the pandemic despite the threat of the Omicron variant, according to the investment banking arm of the Metrobank Group. First Metro Investment… Read More
PSEi slips ahead of US economic report; peso firms up
January 11, 2022, 7:58 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Tuesday in the negative territory ahead of the release of some major economic reports in the US but the peso gained against the US dollar. After several days of rally, the main equities gauge declined by 0.77 percent, or 54.98 points,… Read More
Vax program benefit on economy amid Covid-19 surge cited
January 11, 2022, 6:43 pm
MANILA – The government’s vaccination program against the coronavirus disease 2019 (Covid-19) is helping the economy amidst another surge of infections, an official of First Metro Investment Corporation (FMIC) said. In a virtual briefing on Tuesday, FMIC head of research Cristina Ulang said… Read More
BTr partially awards 5-year T-bond
January 11, 2022, 6:29 pm
MANILA – The Bureau of the Treasury (BTr) partially awarded on Tuesday the five-year Treasury bond after investors asked for high yield. The BTr offered the debt paper for PHP35 billion but the auction committee awarded PHP22.126 billion from total tenders of PHP58.277 billion. The… Read More
Faster US monetary tightening can trigger outflows, depreciation
January 11, 2022, 4:40 pm
WASHINGTON – The International Monetary Fund (IMF) warned on Monday that a faster tightening of the U.S. Federal Reserve's monetary policy could lead to capital outflows and currency depreciation in emerging markets. "While the global recovery is projected to continue this year and next, risks… Read More
Economist sees further rise of FDIs to PH
January 11, 2022, 4:37 pm
MANILA – An economist forecasts sustained improvement of foreign direct investments (FDIs) to the Philippines as economic and credit fundamentals gain ground, even amid the rise in coronavirus disease 2019 (Covid-19) cases. The Bangko Sentral ng Pilipinas (BSP) on Monday reported the 98 percent… Read More
