Business
Biden to nominate Powell for second term as Fed chair
November 23, 2021, 8:13 pm
WASHINGTON – United States President Joe Biden on Monday announced that he intends to nominate Jerome Powell for a second term as Federal Reserve chairman, and Lael Brainard as vice chair. "Chair Powell has provided steady leadership during an unprecedentedly challenging period, including the… Read More
Digital payments ‘greatest’ innovations to ease financial deals
November 23, 2021, 7:59 pm
MANILA – An insurance firm executive considers digital payments as among the greatest innovations that help ease consumers’ financial transactions during the pandemic. In a virtual briefing for the launch of the Robinsons Bank-Pru Life UK Mastercard on Tuesday, Pru Life UK president and… Read More
Customer centricity for accessing financial services pushed
November 23, 2021, 7:54 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has urged financial services sector advocates to further push for a customer centricity campaign (C3) to ensure that all Filipinos will be confident in accessing financial services. “As leaders in the banking, insurance,… Read More
Private sector urges gov’t to allow vax orders as booster dose
November 23, 2021, 6:53 pm
MANILA – Some 26 groups from the private sector are appealing to the government to allow them to use the vaccines they purchased to be given as booster shots for their employees and household members. In a joint statement Tuesday, the private sector said “vaccines are arriving faster than… Read More
Bargain hunting lifts stocks index; peso remains firm
November 23, 2021, 6:51 pm
MANILA – Bargain hunting led to positive close of all gauges in the local bourse on Tuesday while the peso kept its footing against the US dollar. The Philippine Stock Exchange index (PSEi) gained 1.63 percent, or 118.49 points, to 7,401.16 points. All Shares jumped by 1.51 percent, or 58.69… Read More
Korean bizmen, tourists poised to return to PH amid new normal
November 23, 2021, 5:24 pm
MANILA – Korean Chamber of Commerce Philippines (KCCP) president Hoik Lee on Tuesday confirmed that businessmen and tourists from South Korea are expected to return to the Philippines under the new normal. “But now that we have the vaccine, business will go back to normal and (the) economy… Read More
SoKor firms told to position biz in PH ahead of PH-Korea FTA
November 23, 2021, 2:58 pm
MANILA – Companies from South Korea are urged to explore investment opportunities in the Philippines as Manila and Seoul are expected to implement their free trade agreement (FTA) early next year. In a virtual investment forum of the Philippine Economic Zone Authority (PEZA) with Korean firms… Read More
PAL eyes direct GenSan-KL flights
November 23, 2021, 12:50 pm
GENERAL SANTOS CITY – Flag carrier Philippine Airlines (PAL) is planning to open as early as next month direct flights between this city and Kuala Lumpur, Malaysia, reviving the international status of the newly upgraded airport. Department of Transportation (DOTr) Secretary Arthur Tugade… Read More
Diokno cites need to further lift Pinoys' financial literacy
November 22, 2021, 6:13 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno highlighted the need to further boost Filipinos’ financial literacy especially now that digital transactions have increased, noting not only its advantage to individuals but the economy. In his speech during the opening of the… Read More
PH stocks index almost unchanged; peso weakens vs. US dollar
November 22, 2021, 5:07 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Monday’s trade sideways in line with its counterparts in the region ahead of the Thanksgiving holiday in the US, but the peso weakened against the greenback. The main equities index rose by 0.03 percent, or 2.10 points, to 7,282.67… Read More
PH pandemic scorecard improves in October: NEDA
November 22, 2021, 4:56 pm
MANILA – The National Economic and Development Authority (NEDA) said the country has been improving in managing the coronavirus disease 2019 (Covid-19) while safely reopening the economy based on the National Action Plan (NAP) IV scorecard. NEDA Undersecretary Rosemarie Edillon on Monday… Read More
Fitch Solutions eyes 75 bps hike in BSP rates in '22
November 22, 2021, 4:36 pm
MANILA – Fitch Solutions expects the Bangko Sentral ng Pilipinas (BSP) to keep key rates steady this 2021 but forecasts a total of 75 basis points increase in the policy rates in 2022 as the economy recovers. In a report, the financial information services company noted monetary authorities’… Read More
P16.2-B new investments to create nearly 73K new jobs at SBMA
November 22, 2021, 4:32 pm
SUBIC BAY FREEPORT – The Subic Bay Metropolitan Authority (SBMA) has approved new investment proposals worth a total of PHP16.2 billion, reasserting this freeport’s claim as one of the biggest business destinations in the country. SBMA chair and administrator Wilma T. Eisma said on Monday the… Read More
Global realtor sees strong demand for residential properties
November 22, 2021, 4:05 pm
CEBU CITY – Demand for residential properties has remained strong within the high-income market in the Philippines as buyers continue to look for their next homes during the pandemic, a global realtor said on Monday. In its latest report called the Global Buyer Survey 2021: The Philippine… Read More
Oil firms to cut pump prices for 3rd consecutive week
November 22, 2021, 1:49 pm
MANILA – Motorists will get another sigh of relief as oil firms will implement a big-time cut in pump prices this week. In separate advisories, Caltex, Cleanfuel, Petro Gazz, and Seaoil said they will cut gasoline prices by PHP0.85 per liter and diesel by PHP1.20 per liter. According to Seaoil,… Read More
Gov’t upgrades support to MSMEs via SETUP
November 20, 2021, 7:36 pm
MANILA – The government has upgraded services of its program assisting micro, small and medium enterprises (MSMEs) to enhance competitiveness based on their level of development considering the rapid emergence of Industry 4.0 and the debilitating effects of the pandemic. Department of Science… Read More
$600-M ADB loan to help PH provide universal health care
November 19, 2021, 8:54 pm
MANILA – The Asian Development Bank (ADB) has approved a USD600-million policy-based loan to help the Philippines provide quality and equitable health services for all Filipinos as part of its universal health care (UHC) reform program. The Build Universal Health Care Program seeks to support… Read More
BSP 28-day debt paper rate declines
November 19, 2021, 7:55 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills declined on Friday even with higher bids and lower offer volume. The average rate of the debt paper slipped to 1.7798 percent, lower than the 1.7934 percent during the auction last November 12. The BSP offered the… Read More
Improved digital infra boosts financial literacy
November 19, 2021, 7:24 pm
MANILA – Further improvement of digital infrastructure, as well as the incorporation of financial literacy in the basic education system, are expected to help boost financial literacy in the country. In a reply to emailed questions from the Philippine News Agency (PNA), Insular Life (InLife)… Read More
Cebu biz groups cited for key role in PH economic recovery
November 19, 2021, 6:20 pm
CEBU CITY – The Philippine Chamber of Commerce and Industry (PCCI) on Friday cited the Cebu business groups for their crucial role in the inclusive efforts to recover the economy amid the coronavirus disease 2019 (Covid-19). The Mandaue Chamber of Commerce and Industry (MCCI) has been… Read More
