Business
BTr fully rejects bids for 7-year T-bond
December 14, 2021, 6:13 pm
MANILA – The Bureau of the Treasury (BTr) fully rejected all bids for the seven-year Treasury bond (T-bond) on Tuesday as the auction committee considered the rates, which were lower than the previous auction, to remain high. It offered the T-bond for PHP20 billion and tenders reached… Read More
ADB raises 2021, 2022 growth forecasts for PH
December 14, 2021, 5:18 pm
MANILA – The Philippine economy is forecast to remain on a steady growth path in 2021 and 2022, supported by an acceleration in the government’s coronavirus disease 2019 (Covid-19) vaccination program and a sharp drop in Covid-19 cases, according to a report released Tuesday by the Asian… Read More
Quezon City back as PH most competitive city
December 14, 2021, 4:24 pm
MANILA – Quezon City is back as the country’s most competitive city in this year’s Cities and Municipalities Competitiveness Index (CMCI), an annual ranking of cities and municipalities across the country that builds, maps out and tracks local competitiveness. Quezon City landed in the top… Read More
G7 discusses global economic outlook, vaccination, supply chains
December 14, 2021, 4:05 pm
ANKARA – G7 economic officials on Monday discussed the outlook of the global economy, boosting vaccination rates around the world to combat the coronavirus disease 2019 (Covid-19) pandemic and the importance of resilient supply chains. G7 finance ministers and governors also discussed the… Read More
PEZA woos Dubai businesses to invest in PH
December 14, 2021, 1:52 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has invited businesses in Dubai to consider locating their next investments in the Philippines. PEZA deputy director general Tereso Panga said in his social media post Monday night that PEZA director general Charito Plaza met with… Read More
$250-M ADB loan to help boost Covid-19 vaccine supply in PH
December 13, 2021, 9:52 pm
MANILA – The Asian Development Bank (ADB) has approved a $250-million loan to help the Philippine government secure additional coronavirus disease 2019 (Covid-19) vaccine supply to boost the health security of Filipinos and ensure a safe and steady economic recovery. The assistance will allow… Read More
PH biz mission to promote construction, IT-BPM sectors to Mideast
December 13, 2021, 9:14 pm
MANILA – The Philippines will be promoting investment opportunities in construction and related export products and services, and information technology-business process management (IT-BPM) to the Middle East during its business forum and business-to-business (B2B) matching series happening this… Read More
DOF chief confident of resolution of bank account hackings
December 13, 2021, 8:45 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III is optimistic that regulators and the banks that have clients who reported experiencing hacking attacks on their accounts in recent days are taking appropriate actions to address the issue. In a Viber message to journalists,… Read More
T-bills rates mostly down on high demand
December 13, 2021, 7:42 pm
MANILA – The rate of Treasury bills (T-bills) mostly slipped on Monday due to strong demand during the debt paper’s last auction for the year. The average rate of the 91-day securities slipped to 1.125 percent and the 182-day to 1.428 percent while the rate of the 364-day rose to 1.649… Read More
Stocks, peso close sideways on investors’ wait-and-see stance
December 13, 2021, 7:33 pm
MANILA – Investors’ wait-and-see stance for US data on retail sales and jobless claims, among others, resulted in the sideways close of both the Philippine Stock Exchange index (PSEi) and the peso on Monday. The main equities index finished the week’s first trading day up by 0.08 percent,… Read More
Prime Infra invests fresh P2-B for solar projects
December 13, 2021, 6:11 pm
MANILA – Filipino businessman Enrique Razon Jr.’s Prime Infrastructure Holdings Inc. has invested another PHP2 billion in Solar Philippines Power Project Holdings Inc. that targets to establish more solar power plants in the country. In a statement Monday, Prime Infra said its fresh… Read More
Oil firms set price hike this week
December 13, 2021, 5:18 pm
MANILA – Oil prices will increase again after six straight weeks of rollbacks after a rebound of world oil prices as fears over the Omicron variant subside. In separate advisories, Caltex, Cleanufel, Petro Gazz, PTT Philippines, Seaoil, and Shell announced they will increase diesel prices by… Read More
Local auto assemblers’ sales up 17% in November
December 13, 2021, 4:45 pm
MANILA – Sales of the local automotive industry increased by 17.2 percent month-on-month in November 2021 to 26,456 units from 22,581 units sold in October. In a statement Monday, the Chamber of Automotive Manufacturers in the Philippines Inc. (CAMPI) and the Truck Manufacturers Association… Read More
PH eyes export of high-value products, services
December 12, 2021, 6:50 pm
MANILA – Key stakeholders will focus on high-value products and services in crafting the new Philippine Export Development Plan (PEDP) for 2022-2027 while the country works to tap into its unrealized export potential. Department of Trade and Industry (DTI) Secretary Ramon Lopez said the agency… Read More
Regulation on 0% VAT for exporters’ local purchases signed
December 11, 2021, 3:16 pm
MANILA – The new Revenue Regulation (RR) that will allow exporters to continue to avail of zero value-added tax (VAT) rating on their local purchases of goods and services will be issued soon, according to a Bureau of Internal Revenue (BIR) official. Larry Barcelo, Officer-in-Charge and… Read More
Omicron may dampen global economic projection: IMF
December 10, 2021, 8:27 pm
NUSA DUA, Bali – International Monetary Fund's (IMF's) First Deputy Managing Director Geoffrey Okamoto said the global economic growth projection of 4.9 percent in 2022 would likely take a beating due to the new coronavirus disease (Covid-19) variant, Omicron. "We project the global economic… Read More
FDI net inflows up double-digit to $7.3-B
December 10, 2021, 7:30 pm
MANILA – Net inflows of foreign direct investments (FDIs) continued their growth momentum in September 2021, recording a 30.4-percent expansion year on year to reach USD660 million from the USD506 million net inflows in September 2020. This brought the cumulative FDI net inflows for the first… Read More
Coco oil records biggest jump in PH export value
December 10, 2021, 7:05 pm
MANILA – Growth in the coconut industry is apparent after data released by the Philippine Statistics Authority (PSA) on Friday showed that of the 10 major commodity groups in terms of the value of exports, coconut oil recorded the highest annual increase of 76.9 percent. Cathodes and sections of… Read More
BSP lowers BOP surplus forecasts for 2021, 2022
December 10, 2021, 6:46 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) expects a lower balance of payments (BOP) surplus for 2021 and next year amid current developments in the global and local markets. “The latest BOP assessment for 2021 factors in pockets of optimism amid encouraging economic outturns in recent… Read More
Shares, peso end week’s trading weaker
December 10, 2021, 6:23 pm
MANILA – The Philippine Stock Exchange index (PSEi) and the local currency both closed the week lower. All counters closed in the negative territory with PSEi slipping by 0.59 percent, or 42.75 points to 7,192.17. All shares fell by 0.31 percent, or 12.12 points, to 3,830.43. “Local shares… Read More
