Business
IPOPHL, PCCI in search for economy-boosting intellectual property
September 12, 2021, 5:11 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) and the Philippine Chamber of Commerce and Industry (PCCI) are calling for innovators to join this year’s Alfredo M. Yao (AMY) Intellectual Property (IP) Awards, an annual joint event of IPOPHL and PCCI to recognize patented… Read More
Nearly 14K villages rise from pandemic thru DTI assistance
September 12, 2021, 3:11 pm
MANILA – Some 13,918 barangays across the country have benefitted from different livelihood programs of the Department of Trade and Industry (DTI). Reporting to President Rodrigo Duterte over the weekend, Secretary Ramon Lopez said DTI extended livelihood training and assistance to 154,000… Read More
DTI chief endorses relaxing of protocols for fully vaxxed
September 12, 2021, 3:06 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has endorsed tweaking of community quarantine protocols by allowing more mobility for fully vaccinated individuals. During President Rodrigo Duterte’s Talk to the People aired over the weekend, Lopez told Duterte that “it… Read More
BOC collects P11.7-B tariffs from rice imports
September 12, 2021, 11:36 am
MANILA – The Bureau of Customs (BOC) has collected PHP11.69 billion in tariffs from 1.74 million metric tons (MT) of rice imports from January to August, which is already 17 percent more than the minimum funding requirement for the annual Rice Competitiveness Enhancement Fund (RCEF) for the… Read More
BSP's 28-day securities' rate slips on strong demand
September 10, 2021, 6:01 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills declined on Friday as demand remains strong, buoyed by the high liquidity situation in the economy. Data released by the central bank showed that the average rate of the debt paper, which is another excess liquidity siphoning… Read More
Auto industry sales decline in August
September 10, 2021, 6:00 pm
MANILA – Stricter community quarantine restrictions imposed in August has pulled down auto sales downward. The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported Friday that vehicle sales in August 2021 declined by 11.5 percent… Read More
PH stocks index, peso end week on positive note
September 10, 2021, 5:58 pm
MANILA – Philippine shares recovered on Friday despite the continued slide of their counterparts in the United States and the peso stays firm against the greenback. The Philippine Stock Exchange index (PSEi) rose by 0.67 percent, or 46.49 points, to 6,970.51 points. All Shares increased by 0.51… Read More
DTI seeks P23.7-B budget for 2022
September 10, 2021, 5:44 pm
MANILA – The Department of Trade and Industry (DTI) is seeking lawmakers’ approval for its PHP23.7-billion proposed budget under the National Expenditure Program (NEP) for 2022. During the House Committee on Appropriations budget hearing Friday, Secretary Ramon Lopez said a big chunk of the… Read More
Biz owners' grit, gov't measures to buoy MSMEs amid pandemic
September 10, 2021, 3:27 pm
BASISTA, Pangasinan – Keeping businesses afloat amid the pandemic is really a struggle but a combination of commitment among investors to surpass the challenges and government interventions are vital to keep operations resilient. Jocelyn Ong-Perez, owner of Crafters Joy Cornhusk Products, based… Read More
PH economy post-Covid will be different: Diokno
September 9, 2021, 7:24 pm
MANILA – A changed economy is seen for the Philippines post-pandemic, and Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno forecasts the economy to regain its previous vigor starting in the last quarter of 2022. “On the aggregate level, we will be back by around the fourth quarter of… Read More
BSP collects close to P859-M fines from financial institutions
September 9, 2021, 7:23 pm
MANILA – Monetary penalties collected by the Bangko Sentral ng Pilipinas (BSP) from violations among BSP-supervised financial institutions (BSFIs) amounted to around PHP859 million from 2018 until 2020. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno said PHP7.2 million of the… Read More
PH stocks index slips, peso rises
September 9, 2021, 4:41 pm
MANILA – Continued risk-aversion partly due to concerns on the economic impact of the pandemic resulted in the negative close of the Philippine Stock Exchange index (PSEi) on Thursday but the peso gained against the greenback. The main equities index shed 0.37 percent, or 25.37 points, to… Read More
US GDP growth forecast lowered to 5.7%: Goldman
September 8, 2021, 7:42 pm
ANKARA – Goldman Sachs has lowered its forecast of the United States (US) economic growth for this year to 5.7 percent from 6.2 percent. This marked the second time in a month that the New York-based multinational investment bank and financial services company has cut its gross domestic product… Read More
Geoportal project to help minimize info gaps: NEDA
September 8, 2021, 6:47 pm
MANILA – The replication of the Regional Geographic Information Network (RGIN) Geoportal Project in pilot Regions 1, 6, 8, 9, 12, and 13 will help improve research and development and craft evidence-based policies in the country, the National Economic and Development Authority (NEDA) said. In… Read More
Stocks index keeps strong run; peso weakens
September 8, 2021, 6:37 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday higher despite uncertainty amid the spread of the Delta variant of the coronavirus disease 2019 (Covid-19), but the peso depreciated against the US dollar. The main equities gauge rose by 0.53 percent, or 36.68 points, to… Read More
Robust demand pushes TDF rates up
September 8, 2021, 6:06 pm
MANILA – Strong demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) resulted in the rise of its interest rates on Wednesday. Data released by the central bank showed that the weighted average rate of the seven-day facility, which is among the BSP’s tools used to… Read More
Makati Business Club backs granular lockdowns
September 8, 2021, 5:48 pm
MANILA – The Makati Business Club (MBC) has expressed its support on the safe reopening of the economy and to the government’s moves to impose granular lockdowns instead of wider-scope community quarantine measures. In a statement Wednesday, MBC said through granular lockdowns, vaccination… Read More
Duterte admin enacts reforms to provide better life for Filipinos
September 8, 2021, 5:19 pm
MANILA – The Duterte administration accomplished several reforms that took decades to be enacted that helped the country attain its lowest poverty rate in 2018 and will pave the way for the achievement of its 2040 vision, the National Economic and Development Authority (NEDA) said. In… Read More
Structural inflows to buoy peso vs. Fed rate normalization
September 8, 2021, 4:47 pm
MANILA – The peso is expected to be negatively affected by the looming rate adjustment in the US but the country’s robust foreign exchange reserves, among others, are expected to support the local currency. In his presentation during the budget hearing for the proposed 2022 national budget… Read More
PH economic recovery continues amid challenges: Diokno
September 8, 2021, 11:21 am
MANILA – The Philippine economy’s recovery continues to face challenges but improvement in the unemployment rate makes growth prospects promising, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Tuesday night. In a Viber message to journalists, Diokno said results of the July… Read More
