Business
Stock index up, peso sideways vs. US dollar
December 17, 2021, 8:23 pm
MANILA – The main stocks index finished the week up partly on the Financial Times Stock Exchange (FTSE) rebalancing while the peso ended sideways against the US dollar. The Philippine Stock Exchange index (PSEi) gained 0.89 percent, or 64.40 points, to 7,297.66 points. All Shares followed with… Read More
Supermarkets still compliant with SRP: Trade chief
December 17, 2021, 7:49 pm
MANILA – Supermarkets have remained compliant with the suggested retail price (SRP) ahead of the Christmas holidays, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. In an interview during the Laging Handa briefing over PTV4 on Friday, Lopez said they continue to monitor… Read More
BSP watchful of 2nd-round effects of elevated global oil prices
December 17, 2021, 6:45 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) remains on the lookout for any second-round effects of the elevated global oil prices despite their decline from more than US80 per barrel in October. In a virtual briefing on Friday, BSP Governor Benjamin Diokno said optimism on the efficacy of… Read More
BSP 28-day bills rate slips anew
December 17, 2021, 6:36 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities declined on Friday as the high liquidity situation in the economy continues to drive demand for the paper. Data released by the central bank showed that the average rate of the paper, which is among the central… Read More
Banking sector still ‘generally safe’
December 17, 2021, 6:33 pm
MANILA – Financial transaction crimes rose especially during the pandemic as more people turned to digital platforms due to movement restrictions, but a monetary executive said affected accounts are less than 1 percent of the total. Melchor Plabasan, Bangko Sentral ng Pilipinas (BSP)… Read More
PH, Korea sign loan accord revving up Covid-19 vax program
December 17, 2021, 1:50 pm
MANILA – The Philippines and Korea signed on Friday an agreement for a USD100 million loan that would boost the Philippine government’s ongoing nationwide coronavirus disease 2019 (Covid-19) vaccination program. Finance Secretary Carlos Dominguez III, on behalf of the Philippines, and… Read More
Fed can do first-rate hike in May: economist
December 16, 2021, 8:02 pm
ANKARA – The US Federal Reserve could do its first interest rate increase as early as May, after signaling three hikes for next year, according to Ryan Sweet, an economist at Moody's Analytics. After the Fed's much-awaited two-day meeting concluded on Wednesday, the central bank removed the… Read More
Stocks index, peso up on clearer Fed tapering
December 16, 2021, 7:36 pm
MANILA – Risk-on sentiments, partly due to a clearer timeline of the Federal Reserve’s asset purchases tapering, fueled the improvement of both the local bourse and the Philippine peso, which strengthened to the 49-level on Thursday. The Philippine Stock Exchange index (PSEi) rose by 1.41… Read More
BSP maintains key rates anew
December 16, 2021, 6:56 pm
MANILA – Monetary authorities on Thursday kept anew the Bangko Sentral ng Pilipinas’ (BSP) key rates as they continue to see policy space, given the manageable inflation environment and downside risks on the economy. In a virtual briefing, BSP Governor Benjamin Diokno said the overnight… Read More
Innovation in basic sectors to serve as PH engine of growth: NEDA
December 16, 2021, 5:25 pm
MANILA -- Innovation is needed in the most basic sectors to attain the country's 2040 vision of eradicating extreme poverty and becoming a high-income country, the National Economic and Development Authority (NEDA) said. “The country’s economic performance has exceeded expectations in 2021.… Read More
US Federal Reserve signals 3 rate hikes for 2022
December 16, 2021, 5:15 pm
ANKARA -- The US Federal Reserve has signaled Wednesday as many as three interest rate increases for 2022, in an aggressive move to tame record inflation. The projections showed the median projection for the federal funds rate at 0.9 next year, which means the central bank may make three hikes of… Read More
Global debt hits record $226-T in 2020 amid pandemic: IMF
December 16, 2021, 4:06 pm
WASHINGTON – Global debt rose to a record USD226 trillion in 2020 as the world was hit by the coronavirus disease 2019 (Covid-19) pandemic and a deep recession, the International Monetary Fund (IMF) said on Wednesday. Global debt rose by 28 percentage points to 256 percent of gross domestic… Read More
BSP TDF rates post mixed results
December 15, 2021, 8:44 pm
MANILA – The rates of the central bank’s term deposit facility (TDF) registered varied results anew on Wednesday, with demand seen stronger for the seven-day facility. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the average rate of the seven-day TDF declined to 1.7486… Read More
Stocks down on panic selling; peso firm vs. US dollar
December 15, 2021, 8:10 pm
MANILA – The detection of two imported cases of the Omicron variant in the Philippines resulted in the negative close of the main equities index on Wednesday, but the peso managed to end sideways against the US dollar. All the counters in the local bourse finished in the negative territory,… Read More
PH competitiveness index adds innovation as new pillar
December 15, 2021, 7:20 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has announced that the National Competitiveness Council (NCC) is adding a new pillar in the Cities and Municipalities Competitiveness Index (CMCI) for next year. Lopez said the Council has introduced the innovation pillar… Read More
DOF chief optimistic 2021 GDP to hit revised target
December 15, 2021, 6:08 pm
MANILA – Improvements in the country’s healthcare system, among others, are expected to further solidify the domestic economy’s recovery and boost its capacity to hit the revised target of between 5 percent to 5.5 percent. In a virtual briefing on Wednesday, Department of Finance (DOF)… Read More
BDO reimbursing funds of latest cybercrime-affected accounts
December 14, 2021, 8:20 pm
MANILA – Nearly 700 clients of Sy-led BDO Unibank Inc. affected by the recent fraudulent online transactions will be refunded for their affected funds. In a statement on Tuesday, BDO said the bank “has been processing the reimbursement” for its clients. “We have requested our clients… Read More
DBCC hikes 2021 growth target to 5%-5.5%
December 14, 2021, 8:12 pm
MANILA – Economic managers on Tuesday revised upwards the government’s 2021 growth target to between 5 percent to 5.5 percent as economic recovery continues to strengthen. In a statement, the inter-agency Development Budget Coordination Committee (DBCC) said it kept the 7 percent to… Read More
Housing loan takers to benefit from all-in financing program
December 14, 2021, 7:32 pm
MANILA – Noting the impact of the pandemic on borrowers’ capacity to pay amid the desire to have their own house, a local bank introduced an all-in financing loan payment program aimed to help manage their cash flows. In a briefing on Tuesday, Bank of the Philippine Islands (BPI) head of… Read More
Peso nearly unchanged; stocks up ahead of Fed key decisions
December 14, 2021, 7:25 pm
MANILA – Anticipation for the policy decisions of several central banks this week resulted in bargain hunting in the local bourse on Tuesday while the peso ended little changed against the greenback. The Philippine Stock Exchange index (PSEi) gained 0.62 percent, or 44.38 points, to 7,241.99… Read More
