Business
28-day BSP Bills' rates rise
September 25, 2021, 8:04 am
MANILA – Robust demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day Bills resulted in the rise of the debt paper’s rates on Friday. Data released by the central bank showed that the average rate of the debt instrument increased to 1.7227 percent from the previous week’s 1.7190… Read More
Support companies that advocate recycling: DTI
September 24, 2021, 9:50 pm
MANILA – The Department of Trade and Industry (DTI) is encouraging consumers to patronize businesses that are promoting sustainability like reduced use of plastic products for packaging. In a webinar on Friday, Consumer Policy and Advocacy Bureau Director Melquiades Marcus Valdez II said… Read More
BSP exec cites improvement in bank lending
September 24, 2021, 7:29 pm
MANILA – Pandemic-related factors continue to drive the weaker growth in bank lending, but a ranking Bangko Sentral ng Pilipinas (BSP) official said an improvement has been noted on business-related loans since last July. In a virtual briefing on Friday, BSP Senior Assistant Governor Illuminda… Read More
PH stocks gauge improves further, peso weakens
September 24, 2021, 5:40 pm
MANILA – The Philippine Stock Exchange index (PSEi) sustained its rally on Friday after the widely expected no change rate decision of the Federal Reserve but the peso depreciated against the US dollar. The main stocks index rose by 0.52 percent, or 36.25 points, to 6,951.53 points. All Shares… Read More
PH e-vehicle industry growth hinges on gov’t measures
September 24, 2021, 3:13 pm
MANILA – The Electric Vehicle Association of the Philippines (EVAP) is still optimistic with the growth of the industry as long as key government policies will be in place. During the two-day 9th Philippine Electric Vehicle Summit from Thursday to Friday, EVAP president Edmund Araga said the… Read More
PH peso seen to be supported by BOP, foreign reserves
September 24, 2021, 2:36 pm
MANILA – The Philippine peso is seen to get a lift from the expansion of the country’s balance of payment (BOP) position and gross international reserves (GIR). On Thursday, the Bangko Sentral ng Pilipinas (BSP) reported higher BOP, which is the summary of a country’s transactions with the… Read More
GenSan’s Makar port up for more upgrade
September 24, 2021, 1:35 pm
GENERAL SANTOS CITY – More major projects are lined up at the Makar Port here in the coming months in line with the continuing modernization of the country’s port operations. Transportation Secretary Arthur Tugade said the development plans are being finalized for the further upgrading and… Read More
BSP keeps key rates steady, hikes inflation forecasts
September 23, 2021, 7:01 pm
MANILA – Monetary authorities on Thursday kept the Bangko Sentral ng Pilipinas’ (BSP) key rates steady but hiked the projected average inflation rate until 2023. In a briefing streamed through the central bank’s Facebook page, BSP Governor Benjamin Diokno said risks to the inflation outlook… Read More
Stocks rise as Fed keeps rates steady; peso almost unchanged
September 23, 2021, 6:46 pm
MANILA – Local shares gained anew on Thursday following the Federal Reserve’s decision to keep key rates steady while the peso ended the day sideways against the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.36 percent, or 24.55 points, to 6,915.28 points. All Shares… Read More
PH, Korea eye to sign FTA in October
September 23, 2021, 6:08 pm
MANILA – An official of the Department of Trade and Industry (DTI) said on Thursday the Philippines and South Korea are now finalizing the bilateral free trade agreement (FTA) and aim to conclude the trade deal next month. “We are now also in the final stages towards concluding the FTA with… Read More
Budget gap rises but seen to be offset by vax program
September 23, 2021, 5:39 pm
MANILA – The continued reopening of the economy due largely to the vaccination program is expected to help boost government revenues and address the rise in expenditures. Last August, government spending rose faster than revenues, resulting in the 201.78-percent year-on-year rise in budget… Read More
No retrenchment, fleet reduction for Cebu Pacific
September 23, 2021, 5:29 pm
MANILA – An executive of low-cost carrier Cebu Pacific (CEB) assured on Thursday there will be no retrenchment this year, and that it will also not reduce its fleet as it gears for travel recovery. "(There are) no retrenchment plans for Cebu Pacific," CEB vice president for marketing and… Read More
Food firm 1st SBCorp accredited partner for loan program
September 23, 2021, 5:17 pm
CEBU CITY – State-run financing firm Small Business Corp. (SBCorp) and Monde Nissin Corp. have signed a memorandum of agreement (MOA), making the latter the first accredited fast-moving consumer goods (FMCG) company partner for its Sustaining Trade Access to Primary Food and Link to Enterprises… Read More
Manila joins Asia’s top 30 cities for startups
September 23, 2021, 4:29 pm
MANILA – The Philippine capital joins other Asian cities on the list of 30 top startup ecosystems in this year’s Global Startup Ecosystem Report (GSER). In the GSER 2021, Manila ranks 30th in the regional ecosystem performance. Manila was also named as the 10th most affordable talent in the… Read More
Next Malampaya can be found in Mindanao: PNOC EC exec
September 23, 2021, 2:43 pm
MANILA – As the Malampaya natural gas field is drying up, Mindanao might have the indigenous energy resources to energize the country. In a webinar of Davao International Conference 2021 Thursday, PNOC Exploration Corp. (PNOC EC) vice president for upstream operation Jaime Bacud said Mindanao… Read More
BOC steps up fuel monitoring; seizes 6.3K liters unmarked diesel
September 23, 2021, 1:34 pm
MANILA – The Bureau of Customs (BOC) has seized 6,357 liters of unmarked diesel at one of the retail gas stations of a petroleum company in Pampanga, as it continues to step up its nationwide fuel marking and monitoring program to curb oil smuggling. Customs Commissioner Rey Leonardo Guerrero… Read More
Mynt eyes easing Pinoys' financial woes via new service feat
September 23, 2021, 12:42 pm
MANILA – With a goal of helping ease the financial woes of Filipinos amid the pandemic, fintech startup Mynt will be introducing the "buy now, pay later" service feature on mobile wallet GCash app. "We want to create something more compelling and relevant than what's currently available," Mynt… Read More
Banks' NPL ratio to remain in single digit until 2022: Diokno
September 22, 2021, 7:23 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno is confident that the proportion of non-performing loans (NPLs) of Philippine banks to total loans will remain in single-digit until next year despite the rising soured loans due to the pandemic. In a briefing streamed… Read More
DTI eyes hiking biz operation capacity in October
September 22, 2021, 7:15 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said the agency is considering increasing the allowed operation capacity of businesses in areas that will be under Alert Level 4 next month. This, as the pilot week of the alert level system in Metro Manila has been a “good… Read More
North Luzon fiber network now resistant against outages: Converge
September 22, 2021, 7:14 pm
MANILA – Customers of broadband provider Converge ICT Solutions Inc. (Converge) in North Luzon will enjoy a more “available” and “stable” network after the company completed its fiber-optic loop, making its network “completely redundant.” In a statement on Wednesday, Converge CEO… Read More
