Business
Bargain hunting boosts stocks; peso stays firm
January 10, 2022, 8:18 pm
MANILA – Bargain hunting lifted the Philippine Stock Exchange index (PSEi) on Monday while the peso remained firm against the US dollar. The main stock gauge rose by 1.85 percent, or 129.56 points, to 7,140.67 points. It was trailed by all other counters, with the All Shares up by 1.45… Read More
BTr fully awards P15-B T-bill offer
January 10, 2022, 8:14 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded on Monday its Treasury bill (T-bill) offerings after the debt papers’ interest rates fell. The average rate of the 91-day paper slipped to 0.969 percent, the 182-day to 1.121 percent, and the 364-day to 1.468 percent. These were… Read More
Dominguez thanks Duterte, Congress for amended retail trade law
January 9, 2022, 12:57 pm
MANILA – Finance Secretary Carlos Dominguez III lauded President Rodrigo Roa Duterte and Congress for the enactment into law of a measure backed by the Department of Finance (DOF) that seeks to further liberalize the Philippine economy and open the country to more foreign direct investments… Read More
Reskilling, upskilling crucial amid pandemic
January 8, 2022, 5:43 pm
MANILA – Businesses need to focus on reskilling and upskilling their people to adapt to changes especially those brought about by the pandemic. Philippine Trade Training Center (PTTC), the training arm of the Department of Trade and Industry, is looking at sector development, identifying skills… Read More
PH stocks index, peso weaken on rising Covid cases
January 7, 2022, 9:05 pm
MANILA – Rising domestic coronavirus disease 2019 (Covid-19) infections continue to have an impact on investors, resulting in the negative close of both the main stocks index and peso on Friday. The Philippine Stock Exchange index (PSEi) ended the week down by 1.05 percent to 7,011.11 points, or… Read More
Economic losses under Level 3 temporary
January 7, 2022, 7:30 pm
MANILA – Placing the National Capital Region Plus back on Alert Level 3 due rising coronavirus disease 2019 (Covid-19) cases is seen to result in a weekly gross value added (GVA) loss of around PHP3 billion, economic managers said. The inter-agency Development Budget Coordination Committee… Read More
No more massive lockdowns, DTI assures biz sector
January 7, 2022, 5:50 pm
MANILA – There will no longer be hard lockdowns amid the spike in cases of the coronavirus disease 2019 (Covid-19), made worse by the more transmissible Omicron variant. In a statement Friday, the Philippine Chamber of Commerce and Industry (PCCI) said they were assured by Department of Trade… Read More
BSP’s 28-day securities rate drops as demand still up
January 7, 2022, 5:23 pm
MANILA – Normalizing the domestic liquidity situation after the Christmas holidays further boosted demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills, which registered a lower interest rate on Friday. Data released by the BSP showed that the rate of the debt paper, which is among… Read More
Local firm eyes manufacture of Covid-19 drug Molnupiravir
January 7, 2022, 1:52 pm
MANILA – A local pharmaceutical company is eyeing the manufacture of Molnupiravir, an oral medicine said to reduce severe symptoms of Covid-19, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. During President Rodrigo Duterte’s Talk to the People Thursday night, Lopez said if… Read More
Paracetamol, flu meds supply back to normal this weekend: DTI
January 7, 2022, 11:27 am
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said supplies of paracetamol and other flu medicines at drugstores will start to normalize this weekend. Speaking to President Rodrigo Duterte during the Talk to the People Thursday evening, Lopez said manufacturers of these… Read More
Nat’l gov’t seeks P300-B bridge financing from BSP
January 6, 2022, 8:44 pm
MANILA – The national government has requested lower funding accommodation from the Bangko Sentral ng Pilipinas (BSP) amounting to PHP300 billion. “As an encouraging sign of improving public finances, the national government requested for only PHP300 billion in provisional advances this… Read More
PSEi sideways on slower inflation rate; peso weakens
January 6, 2022, 8:15 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended sideways Thursday partly on a slower December 2021 domestic inflation rate, while the peso weakened against the greenback. The main stocks index slipped by 0.08 percent, or 5.88 points, to 7,085.52 points. This was the theme for… Read More
BSP chief cites proper timing of unwinding pandemic responses
January 6, 2022, 8:11 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Thursday the unwinding of monetary policy interventions needs proper timing and this remains uncertain for the Philippines at this time. Citing experiences in recent crises, Diokno said the withdrawal of monetary… Read More
Availment of perks under RE Act now simplified
January 6, 2022, 6:04 pm
MANILA – The Department of Energy (DOE) has simplified the availment of incentives under the Renewable Energy (RE) Act following the amendments to the implementing rules and regulations (IRR) of the law. In a statement Thursday, the DOE said simplifying the availment of RE incentives aims to… Read More
Unified Logistics Pass system to be launched this month
January 6, 2022, 4:23 pm
MANILA – To streamline applications and fees for truckers, the Anti-Red Tape Authority (ARTA) will launch the Unified Logistics Pass (ULP) this month. “The ULP is poised to streamline requirements for a unified Quick Response (QR) Code that will eliminate the varying and separate pass-through… Read More
DBP lends to private industrial park developer
January 6, 2022, 2:27 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has extended a PHP700-million seven-year syndicated term loan to Science Park of the Philippines, Inc. (SPPI) to finance the company’s development projects to meet rising demand amidst the steady recovery of the manufacturing… Read More
Stocks rise, peso strengthens on lesser concerns on Omicron
January 5, 2022, 8:43 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained on Wednesday on lessened worries on the coronavirus disease 2019 (Covid-19) Omicron variant and the peso followed suit. The main stocks index rose by 0.71 percent, or 50.13 points, to 7,091.40 points. All Shares trailed with a jump… Read More
Post-Christmas holiday liquidity drives TDF demand; rates down
January 5, 2022, 8:40 pm
MANILA – Sustained high domestic liquidity situation in the country, especially after the Christmas holidays, continues to drive demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF), rates of which declined on Wednesday. Data released by the central bank showed… Read More
Non-monetary measures needed vs. impact of ‘Odette’ on prices
January 5, 2022, 8:34 pm
MANILA – The effective implementation of non-monetary measures to address the impact of Typhoon Odette on the supply of necessities is the key to thwarting its effect on domestic prices, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Wednesday. “As with previous episodes of… Read More
Power restoration in Bohol remains minimal
January 5, 2022, 7:34 pm
MANILA – Power restoration in the province of Bohol remains limited almost three weeks after the onslaught of Typhoon Odette in the Visayas and Mindanao. In a briefing Wednesday, Department of Energy (DOE) director Mario Marasigan said the available capacity of power generation facilities… Read More
