Business
10-yr T-bond rate up on inflation, looming BSP rate hike concerns
November 9, 2021, 5:53 pm
MANILA – The rate of 10-year Treasury bond (T-bond) rose on Tuesday due to lingering concerns on domestic inflation rate and the possible hikes in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates. The average rate of the debt paper increased to 5.130 percent from 4.689 percent… Read More
Crypto market value hits $3-T, Bitcoin near all-time high
November 9, 2021, 3:57 pm
ANKARA – The total value of the cryptocurrency market hit a record USD3 trillion on Monday, while Bitcoin was trading close to an all-time high. The market capitalization of cryptocurrencies stood at almost USD3.03 trillion at 12.05 p.m. EDT, according to data by digital asset price-tracking… Read More
Economist eyes BSP rate hike starting in H1 2022
November 9, 2021, 3:53 pm
MANILA – An economist projects a hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates starting in the first half of 2022 following the higher-than-expected domestic growth in the third quarter of 2021. The Philippine Statistics Authority (PSA) on Tuesday reported the 7.1-percent… Read More
APEC ministers strive to expedite recovery through trade policy
November 9, 2021, 2:59 pm
JAKARTA – Ministers from 21 Asia-Pacific Economic Cooperation (APEC) member economies are meeting virtually over the next two days to accelerate the region’s economic recovery from the impacts of the coronavirus disease 2019 (Covid-19) pandemic through innovative trade policy and multilateral… Read More
PH economy grows 7.1% in Q3, still among highest in SE Asia
November 9, 2021, 1:59 pm
MANILA – The Philippine economy expanded by 7.1 percent from July to September, among the highest third-quarter growths in the Association of the Southeast Asian Nations and East Asian region amid the pandemic, boosting optimism about staging a strong recovery next year. The third-quarter gross… Read More
APEC economy seen to grow 6% in 2021
November 8, 2021, 8:15 pm
JAKARTA – The economy of the Asia-Pacific Economic Cooperation (APEC) region is expected to grow by 6 percent this year and will settle at 4.9 percent in 2022 in anticipation of the unwinding of fiscal and monetary support measures. Such a trend aligns with a newly published report on economic… Read More
PSEi, peso gain on upward revision of Q2 GDP
November 8, 2021, 8:00 pm
MANILA – The Philippine Stock Exchange index (PSEi) and the peso ended the week’s first trading day up due partly to the upward revision of the domestic economy’s second-quarter output to 12 percent from 11.8 percent. The main equities index rose by 0.76 percent, or 55.45 points, to… Read More
T-bond rates move mostly sideways
November 8, 2021, 5:56 pm
MANILA – The rates of Treasury bills (T-bills) mostly moved sideways on Monday partly on the deceleration of the inflation rate last October. The average rate of the 91-day T-bill rose to 1.143 percent while that of the 182-day moved to 1.401 percent and the 364-day to 1.616 percent. These… Read More
PH invites Chinese vax producers to partner with local pharma
November 8, 2021, 5:52 pm
MANILA – Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo is inviting vaccine manufacturers from China to partner with local pharmaceutical companies to locate their facilities in the country. During the virtual Philippines-China (Fujian) Economic and Trade Promotion… Read More
100K jobs returning to labor market with Alert Level 2 in NCR
November 8, 2021, 4:17 pm
MANILA – With the further lowering of the alert level in the National Capital Region (NCR), Trade Secretary Ramon Lopez said some 100,000 jobs are expected to return to the labor market. In a Palace briefing Monday, Lopez said around 1.8 million jobs were affected since the NCR was reverted to… Read More
DTI to promote noche buena goods that maintain prices
November 8, 2021, 4:10 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said the agency will promote manufactured noche buena items that did not increase their prices. In a Palace briefing Monday, Lopez said among the noche buena goods that keep prices this year include ham, queso de bola, fruit… Read More
Oil firms set to roll back pump prices after successive hikes
November 8, 2021, 12:34 pm
MANILA – After more than two months of price hikes, oil firms finally announced a rollback on prices of gasoline starting Tuesday. In separate statements, Cleanfuel, Petro Gazz, Seaoil, and Shell said they will cut gasoline prices by PHP1 per liter after 10 consecutive weeks of price… Read More
PH retains preferential tariff status under EAEU
November 6, 2021, 5:46 pm
MANILA – The Philippines continues to enjoy lower tariffs when exporting certain products to member states of the Eurasian Economic Union (EAEU). The EAEU, which includes Russia, Belarus, Kazakhstan, Kyrgyz and Armenia, retained the Philippines among the developing beneficiary countries subject… Read More
Recovery of office leasing in Cebu seen
November 6, 2021, 2:34 pm
CEBU CITY – The demand for office leasing in Cebu’s business districts is projected to significantly recover next year and sees sustained employment in the outsourcing industry. “Moving forward, office leasing will be driven by companies based in the US and other major economies that… Read More
PSEi, peso up on slower inflation, NCR's shift to Alert Level 2
November 5, 2021, 8:20 pm
MANILA – The Philippines’ main stocks gauge ended the week up and this was mirrored by the local currency after the slower domestic inflation rate in October and the further easing of the quarantine classification in the National Capital Region (NCR). The Philippine Stock Exchange index… Read More
PH, New Zealand to continue cooperation on geothermal energy
November 5, 2021, 4:39 pm
MANILA – The Philippines and New Zealand will continue to explore cooperation on geothermal energy. This as Department of Energy (DOE) Secretary Alfonso Cusi and New Zealand Ambassador to the Philippines Peter Kell signed the Second Amendment to the Arrangement on Geothermal Energy Cooperation… Read More
DTI pushes for voluntary wearing of face shield
November 5, 2021, 2:12 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez is pushing for the voluntary wearing of face shield. In an online program of Daily Tribune on Friday, Lopez said there has been proposals in the Inter-Agency Task Force for the Management of Emerging Infectious Diseases… Read More
Digital bank to provide new experience to customers: exec
November 5, 2021, 12:39 pm
MANILA – The Union Bank of the Philippines (Unionbank) has yet to determine when specifically in 2022 it would launch its digital bank but an executive said this will serve as a platform for new experiences for customers. In a briefing on Thursday night, Unionbank chief finance officer Jose… Read More
Balance of risks for 2021 inflation still 'on the upside': Diokno
November 5, 2021, 11:46 am
MANILA – The rate of price increases decelerated to 4.6 percent last October from month-ago’s 4.8 percent but Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the balance of risks remains on the upside. Last month’s inflation rate is near the lower end of the central bank’s… Read More
PH cement demand remains soft
November 5, 2021, 11:29 am
MANILA – The demand for cement remains soft as the country's economy has yet to fully reopen, said an executive of Aboitiz Equity Ventures (AEV), owner of Republic Cement. In a press conference Thursday night, AEV chief financial officer Dmi Lozano said big commercial projects such as high-rise… Read More
