Business
Safe reopening of economy restores jobs: NEDA chief
October 28, 2021, 6:08 pm
MANILA – Socioeconomic Planning Secretary Karl Kendrick Chua has cited the need to let the economy function normally instead of locking it down and providing stimulus measures that will have little benefit to domestic output and the people. In a reply to a query regarding his stand on the… Read More
ADB president reaffirms support for sub-regional cooperation
October 28, 2021, 2:21 pm
MANILA – Asian Development Bank (ADB) President Masatsugu Asakawa Thursday reaffirmed ADB’s support for a rapid economic recovery, infrastructure development, and regional cooperation at the 14th Brunei Darussalam–Indonesia–Malaysia–Philippines East Asean Growth Area (BIMP–EAGA)… Read More
CA turns down retail giant's suit on use of 'My Choice' mark
October 28, 2021, 1:04 pm
MANILA – The Court of Appeals (CA) has turned down a petition filed by a subsidiary of retail giant Robinsons for the use of the "My Choice" food and beverage products in its Ministop convenience stores. In a 13-page decision dated Oct. 20 written by Associate Justice Emily R. Aliño-Geluz, the… Read More
Bitcoin dives to $58K, crypto market loses $140B
October 28, 2021, 12:56 pm
ANKARA – The price of Bitcoin fell Wednesday to USD58,000, while the total crypto market value lost around USD140 billion in a major selloff. After plummeting to USD58,000 at 4 a.m. EDT Tuesday, Bitcoin’s price was trading just above USD58,800 at 10.15 a.m. EDT at a 5 percent daily loss. The… Read More
NEDA chief sees sustained GDP expansion in Q3
October 27, 2021, 9:14 pm
MANILA – The domestic economy is expected to remain in expansion mode even with the movement restrictions in the third quarter of 2021. In his speech during the Manila Times virtual 123rd anniversary on Wednesday, Socioeconomic Planning Secretary Karl Kendrick Chua said around 77 percent of… Read More
TDF rates end mixed anew
October 27, 2021, 7:55 pm
MANILA – Search for yields continues to push the central bank’s 14-day term deposit facility (TDF) rate higher but the rate of the seven-day facility sustained its decline. Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that the average rate of the two-week… Read More
Investment in logistics sector to usher economic recovery
October 27, 2021, 7:07 pm
MANILA – Opportunities in the logistic sector have grown amid the pandemic and investments in this sector could usher in economic recovery, real estate businessman and Davao Investment Conference (ICon) chair Ricardo Floirendo Lagdameo said. During the Davao ICon conference Wednesday, Lagdameo… Read More
PH stocks slip as investors focus overseas; peso nearly flat
October 27, 2021, 6:23 pm
MANILA – The main equities index turned negative on Wednesday as investors preferred to focus overseas but the peso was little changed against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.30 percent, or 21.95 points, to 7,230.15 points. All Shares dipped by 0.06… Read More
Cold chain sector seen to continue growing amid pandemic
October 27, 2021, 3:54 pm
MANILA – A logistics company has inaugurated the country's first intelligent cold storage facility due to the growing demand for cold chain management solutions especially as the pandemic has intensified the need for a secure supply chain of food and vital coronavirus vaccines and medicines… Read More
Gov’t not involved in choosing buyer of Malampaya shares: Cusi
October 27, 2021, 3:35 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi said the agency is not involved in choosing the buyer of shares of Shell and Chevron in the Malampaya gas field. “The DOE does not get involved in the sale (of shares). We don’t know that they are selling. Our question was what… Read More
PH farmers to gain largely from FTA with SoKor: Dar
October 26, 2021, 8:36 pm
MANILA – Department of Agriculture (DA) Secretary William Dar has expressed gratitude to the South Korean government for the newly-forged free trade agreement (FTA) with the Philippines. "We would like to extend our sincere appreciation to the South Korean government for granting duty-free… Read More
PH stocks index recovers, peso keeps footing vs. greenback
October 26, 2021, 5:56 pm
MANILA – Bargain hunting lifted the Philippines’ main stocks gauge on Tuesday and the peso managed to close the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.56 percent, or 40.56 points, to 7,252.10 points. Also, All Shares jumped by 0.44 percent, or… Read More
7-year PH T-bond rate falls
October 26, 2021, 5:00 pm
MANILA – The rate of the Philippines’ seven-year Treasury bond (T-bond) rose on Tuesday, resulting in the partial award of the debt instrument. The average rate of the re-issued debt paper increased to 4.468 percent from 4.207 percent previously. “(The uptick in rate was) aligned with a… Read More
PH, SoKor conclude trade deal talks
October 26, 2021, 2:56 pm
MANILA – Top trade officials of the Philippines and South Korea formally concluded negotiations on a free trade agreement (FTA) to boost trade and investment ties between the two countries. With the conclusion of trade talks, the Philippines-Korea FTA is the country’s second bilateral trade… Read More
Positive impact of rise in gov't spending on GDP cited
October 25, 2021, 8:30 pm
MANILA – The improvement of government spending will greatly benefit domestic growth but further reopening the economy can boost tax revenue collections which could help narrow the country's budget deficit, according to economists. The Bureau of the Treasury (BTr) on Monday reported the… Read More
BTr fully awards T-bills on strong demand
October 25, 2021, 7:43 pm
MANILA – Treasury bills (T-bills) rates moved sideways on Monday on sustained demand for the debt paper. The average rate of the 91-day debt instrument moved to 1.119 percent, the 182-day to 1.387 percent, and the 364-day to 1.606 percent. These were at 1.113 percent, 1.390 percent, and… Read More
PSEi down on renewed China Evergrande concerns; peso gains
October 25, 2021, 7:02 pm
MANILA – The local stock barometer started the week in the negative territory partly on renewed concerns regarding China Evergrande Group but the peso gained against the greenback. The Philippine Stock Exchange index (PSEi) lost 1.07 percent, or 78.07 points, to 7,211.54 points. All Shares… Read More
BSP eyes P1K polymer banknotes pilot-testing in H1 2022
October 25, 2021, 6:45 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is set to pilot-test starting in the first half of 2022 the use of PHP1,000 polymer notes that are deemed to be cleaner, cheaper, stronger, and smarter than using paper bills. In a virtual briefing on Monday, BSP Deputy Governor Mamerto Tangonan… Read More
Oil up amid supply deficit concerns, global energy crunch
October 25, 2021, 6:35 pm
ANKARA – Oil prices continued their bullish trend on Monday on the back of tight supply and the global energy crunch in the run-up to winter. International benchmark Brent traded at USD85.24 a barrel at 1048 GMT for a 0.70 percent rise after trade in the previous session ended at USD84.64 a… Read More
178K PUV drivers to benefit from P1-B fuel subsidy
October 25, 2021, 3:50 pm
MANILA – Some 178,000 bonafide public utility vehicle (PUV) drivers are set to benefit from the PHP1-billion fuel subsidies that will be released through the Land Transportation Franchising and Regulatory Board (LTFRB). This, as global oil prices continue to rise to over USD80 per barrel and… Read More
