Business
Fin lit, demographics to boost insurance penetration growth
November 4, 2021, 8:43 pm
MANILA – Government efforts to increase Filipinos’ financial literacy, along with demographics, tech-savvy young people, and the low insurance penetration rate in the country are seen to boost the people’s desire to get health and investment products. In a virtual briefing on Thursday, Pru… Read More
Advocacy group urges PRRD to certify EdCom Bill as urgent
November 4, 2021, 8:15 pm
MANILA – The Philippine Business for Education (PBEd) has called on President Rodrigo Duterte to certify House Bill No. 10308 or the Education Commission (EdCom) Bill as urgent. The advocacy group also urged the Senate and the House of Representatives to pass the bill during the 18th Congress.… Read More
SSS eyes to condone 20% of P55-B delinquencies
November 4, 2021, 7:58 pm
MANILA – Around 20 percent of the PHP55 billion arrears by employers and employees in the private sector are projected to be covered under the latest round of Social Security System (SSS) condonation program. “Total amount of delinquencies is about PHP55 billion and at least 20 percent of… Read More
PH stocks gauge rises, peso finishes sideways vs. greenback
November 4, 2021, 5:11 pm
MANILA – Positive sentiments reigned in the local bourse on Thursday after the announcement of changes in the Federal Reserve’s asset purchases while the peso ended sideways against the US dollar. The Philippine Stock Exchange index (PSEi) increased by 0.26 percent, or 19 points, to 7,203.72… Read More
World's largest trade deal RCEP to enter into force on Jan. 1
November 4, 2021, 4:22 pm
JAKARTA – The Association of Southeast Asian Nations (Asean) Secretariat has announced that the Regional Comprehensive Economic Partnership (RCEP) agreement, the world's largest trade deal so far, will enter into force on Jan. 1, 2022. The secretariat, which made the announcement on Wednesday,… Read More
Delta variant hits BOI investment pledges
November 4, 2021, 4:15 pm
MANILA – The Board of Investments (BOI) is expecting investment pledges for 2021 to fall short of its target as the Delta variant of the coronavirus impacted investment flows, not only in the Philippines but globally. Trade Undersecretary and BOI managing head Ceferino Rodolfo told reporters… Read More
DBP installs ATMs in Ticao Island, Masbate
November 4, 2021, 2:34 pm
MANILA – State-owned Development Bank of the Philippines (DBP) recently installed automated teller machines (ATMs) in the underbanked municipalities of San Jacinto and San Fernando in Ticao Island in the province of Masbate, a top official said. DBP President and Chief Executive Officer Emmanuel… Read More
Unemployment uptick in September due to extended MECQ
November 4, 2021, 2:01 pm
MANILA – The Philippine Statistics Authority (PSA) reported Thursday that the unemployment rate in September slightly increased to 8.9 percent from 8.1 percent in August. Labor force participation also declined to 63.3 percent from 63.6 percent in the same period. The National Economic and… Read More
October inflation seen at 5%
November 3, 2021, 7:47 pm
MANILA – The rate of price increases likely increased to 5 percent last October given the continued increase of crude oil prices in the international market. According to the October 2021 issue of the First Metro Investment Corporation (FMIC) and University of Asia and the Pacific (UA&P)… Read More
PSEi rises anew on risk-on sentiment; peso weakens
November 3, 2021, 7:24 pm
MANILA – Risk-on sentiment buoyed by the earning season lifted anew the Philippine Stock Exchange index (PSEi) on Wednesday but the peso depreciated against the greenback. The main equities index rose by 1.11 percent, or 78.71 points, to 7,184.72 points. All Shares followed with a jump of 0.71… Read More
Term deposit facility rates slide on strong demand
November 3, 2021, 7:20 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility declined on Wednesday on strong demand due to the high liquidity situation in the economy. Central bank data show that the average rate of the seven-day TDF, which is among the central bank’s excess… Read More
ARTA chief urges PhilHealth to release claims within 60 days
November 3, 2021, 6:25 pm
MANILA – Anti-Red Tape Authority (ARTA) director general Jeremiah Belgica has called on the Philippine Health Insurance Corp. (PhilHealth) to follow its own Charter of releasing claims within 60 days. In an interview with Radyo5 Wednesday, Belgica said PhilHealth seems to be “burning the… Read More
5-year T-bond rate rises ahead of Fed asset purchases tapering
November 3, 2021, 4:41 pm
MANILA – National Treasurer Rosalia de Leon on Wednesday said an increase in the country’s re-issued five-year Treasury bond (T-bond) is expected ahead of the Federal Reserve’s asset purchases tapering. The average rate of the debt paper inched up to 3.762 percent from 3.576 percent during… Read More
DTI’s SBCorp OKs P6-B loans for MSMEs
November 3, 2021, 3:46 pm
MANILA – The Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry (DTI), reported it approved more than PHP5.99 billion worth of loans for small-scale businesses as of end-October. In its website, SBCorp said a total of 36,661 micro, small and medium… Read More
BSP lines up reforms to sustain resiliency of PH banking sector
November 2, 2021, 8:05 pm
MANILA – The country’s financial system remains strong in the first half of 2021 amid the pandemic and the Bangko Sentral ng Pilipinas (BSP) has lined up several reforms to ensure the sector’s continued resilience. In a report released on Tuesday, the central bank identified these reforms… Read More
Global markets seek direction ahead of Fed meeting
November 2, 2021, 7:57 pm
ISTANBUL – Global stock markets on Tuesday continued to find a foothold over firms' positive third-quarter earnings ahead of the US Federal Reserve's (Fed) Open Market Committee meeting set to be held Wednesday. Analysts said the Fed is expected to begin reducing its $120 billion in monthly… Read More
Stocks index up, peso nearly flat
November 2, 2021, 5:56 pm
MANILA – The Philippine Stock Exchange index (PSEi) started the shortened trading week up after several days of slides in the previous week and this performance was mirrored by the local currency. The main equities index rose by 0.73 percent, or 51.31 points, to 7,106.01 points. All Shares… Read More
Duterte admin seeks to amend BOT IRR
November 2, 2021, 5:25 pm
MANILA – The Duterte administration seeks to amend the implementing rules and regulations (IRR) of the build-operate-transfer (BOT) law. To pursue the amendments of the BOT IRR, President Rodrigo R. Duterte designated Socioeconomic Planning Secretary Karl Kendrick Chua as the chairman of the… Read More
PCCI backs lower alert level in NCR
November 2, 2021, 4:53 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, has expressed its support to the proposal for further easing the alert level in the National Capital Region (NCR) within the next 14 days. In a statement Tuesday, PCCI president… Read More
T-bill rates up on inflation, Fed taper concerns
November 2, 2021, 4:46 pm
MANILA – The rates of Treasury bills (T-bills) rose on Monday ahead of the announcement of the October 2021 inflation rate. The average rate of the 91-day paper increased to 1.13 percent, the 182-day to 1.395 percent, and the 364-day to 1.613 percent. These were at 1.119 percent, 1.387… Read More
