Business
PH current account surplus eyed until at least 2022
September 7, 2021, 8:19 pm
MANILA – An analyst of S&P Global Ratings forecasts the surplus in the country’s current account to continue at least until 2023, which will back the country’s external setting. Andrew Wood, director for Asia Pacific Sovereign Ratings and S&P Global Ratings lead analyst for the… Read More
PCCI hopes full reopening of economy
September 7, 2021, 8:13 pm
MANILA – As more Filipinos are getting vaccinated against the coronavirus disease 2019 (Covid-19), the Philippine Chamber of Commerce Industry (PCCI) hopes for a full reopening of the economy once the country achieves population protection. “PCCI wishes for the full opening of the economy… Read More
Stocks index up, peso sideways despite inflation uptick
September 7, 2021, 8:10 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained Tuesday despite a report about the more than two-year high domestic inflation rate in August, while the peso ended the day sideways against the US dollar. The main equities index rose by 0.52 percent, or 35.61 points, to 6,912.71… Read More
Weather-related factors seen to trigger inflation uptick
September 7, 2021, 7:51 pm
MANILA – An economist projects the country’s inflation rate to accelerate in the coming months due to weather-related factors. “In view of the typhoon season and still relatively lower base/denominator effects, inflation could mathematically reach a peak of about 5 percent by September or… Read More
DTI invites Japanese firms to invest in PH industries
September 7, 2021, 7:46 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has urged Japanese firms to invest in the Philippines as opportunities for manufacturing, construction, and energy remain high despite the pandemic. In a virtual Philippine economic briefing for Japanese companies Tuesday,… Read More
Covid-19 deals severe blow to retail trade, services in EU
September 7, 2021, 6:45 pm
BRUSSELS – The coronavirus disease 2019 (Covid-19) pandemic has posed a major impact on retail trade and the demand for services worldwide, as many countries mandated the closure of retail shops while bars and restaurants had to spend several months with chairs stacked on tables and shutters… Read More
Possible direct settlement framework for peso, yen eyed
September 7, 2021, 5:26 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has raised the possibility of establishing a direct settlement framework for the Philippine peso and the Japanese yen. “BSP is keen on pursuing other areas of cooperation with Japan such as the establishment of the… Read More
PH logs lowest unemployment rate since pandemic
September 7, 2021, 4:19 pm
MANILA – The Philippines recorded its lowest unemployment rate since April 2020 at 6.9 percent in July this year. The Philippine Statistics Authority (PSA) reported Tuesday that July 2021’s unemployment rate declined from 7.7 percent in June 2021. In a joint statement of Socioeconomic… Read More
7-year T-bond rate rises
September 7, 2021, 3:44 pm
MANILA – National Treasurer Rosalia de Leon said Tuesday the rate of increase of reissued seven-year Treasury bonds (T-bond) is in line with rates in the secondary market. The average rate of the debt paper increased to 3.789 percent from 3.674 percent previously. The BTr offered the… Read More
PH strengthens interventions to ease food prices, curb inflation
September 7, 2021, 2:46 pm
MANILA – The government will continue to ensure a stable food supply to ease prices of fish, vegetables, and pork, and address the recent uptick in inflation, the National Economic and Development Authority (NEDA) said Tuesday. The Philippine Statistics Authority (PSA) reported that the… Read More
Food firm joins DOLE’s Project Hope livelihood program
September 7, 2021, 1:59 pm
MANILA – Century Pacific Food Inc. (CNPF), one of the leading food companies in the Philippines, through its nonprofit affiliate RSPo Foundation, Inc., signed an agreement with the Department of Labor and Employment (DOLE) to participate in its livelihood program, Project Hope… Read More
PH inflation hits 32-month high at 4.9% in August
September 7, 2021, 10:45 am
MANILA – Rate of price increases accelerated to its fastest since January 2019 at 4.9 percent last August but the Bangko Sentral ng Pilipinas (BSP) maintains that inflation outlook remains broadly balanced and expects within-target level by end-2021. BSP Governor Benjamin Diokno, in a Viber… Read More
Japan credit firm affirms ‘A’ rating on PH
September 6, 2021, 6:46 pm
MANILA – Japan Credit Rating Agency (JCRA) on Monday affirmed its A-level credit rating with a stable outlook on the Philippines, citing partly government measures to address the pandemic’s impact on the health system and the economy. “The ratings mainly reflect the country’s high and… Read More
T-bill rates little changed as demand remains high
September 6, 2021, 6:38 pm
MANILA – Treasury bill (T-bills) rates were either little changed or flat on Monday as demand remained high amid the huge liquidity situation in the domestic economy. The average rate of the 90-day paper, a day short because of a holiday on Dec. 8, moved to 1.078 percent, the 182-day to 1.405… Read More
Shares down ahead of US holiday; peso ends sideways
September 6, 2021, 5:32 pm
MANILA – Investors stayed at the sidelines partly ahead of the US Labor Day holiday resulting in the negative close of the main equities gauge on Monday but the peso remained firm against the greenback. The Philippine Stock Exchange index (PSEi) shed 0.29 percent, or 20.03 points, to 6,877.10… Read More
ECOP to start inoculation under 1M Jobs Project
September 6, 2021, 4:17 pm
MANILA – The Employers Confederation of the Philippines (ECOP) will start the coronavirus disease 2019 (Covid-19) vaccination for its member workers on Wednesday. In a statement Monday, the ECOP said the vaccination rollout is part of the “Reform. Rebound. Recover: 1M Jobs (1MJ) Project”… Read More
SEC alerts Cebu would-be investors vs. unauthorized lending firm
September 6, 2021, 4:00 pm
CEBU CITY – The Securities and Exchange Commission (SEC) Cebu extension office on Monday issued a warning to investors in Cebu who have dealt or are about to deal with a Luzon-based lending firm offering investment portfolios to the public without authority from the government. Lawyer Alma… Read More
Gasoline, diesel, kerosene prices up anew this week
September 6, 2021, 3:05 pm
MANILA – Oil prices are set to increase for the second consecutive week on Tuesday. In separate statements, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell announced they will hike gasoline prices by PHP0.50 per liter and PHP0.95 per liter on diesel products. Caltex, Seaoil, and Shell will… Read More
Rise in PH debt still fiscally viable, sustainable: DOF chief
September 6, 2021, 3:02 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III said Monday government debt and its share of domestic economic output rose last year due to pandemic-related spending but this remained fiscally viable and sustainable. In his speech during the virtual House of… Read More
BSP awards 28-day securities in full
September 3, 2021, 6:29 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has awarded the 28-day securities in full during Friday’s auction. The securities amounting to PHP110 billion fetched lower rate than the yield in the previous auction. “The weighted average interest rate continued to decline from last week's… Read More
