Business
PSEi gains, peso ends sideways
September 3, 2021, 5:42 pm
MANILA – Local shares improved while the Philippine peso slipped at end of the week’s trading. The Philippine Stock Exchange index (PSEi) finished Friday trading by gaining 0.91 percent or 62.47 points to 6,897.13. This is the third straight week that the local index increased, Rizal… Read More
P200-M fresh investments to revive Maguindanao banana farms
September 3, 2021, 4:36 pm
COTABATO CITY – The Bangsamoro Board of Investments – Bangsamoro Autonomous Region in Muslim Mindanao (BBOI-BARMM) is facilitating the revival of banana farms in Maguindanao with the expected infusion of PHP200 million worth of new investments from two local firms. BBOI-BARMM Chairman Ishak… Read More
BARMM joins competitiveness award for LGUs
September 3, 2021, 3:08 pm
MANILA – For the first time, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has recognized the most competitive local government units (LGUs) in the region during the Cities and Municipalities Competitiveness Index (CMCI) Summit held on Friday. Under the CMCI, the government ranks… Read More
LGUs get P8.1-B from hosting power projects: DOE
September 3, 2021, 11:34 am
MANILA – Local government units (LGUs) have received PHP8.1 billion from hosting power plants of energy firms, Department of Energy (DOE) Secretary Alfonso Cusi said on Thursday night. In his report to President Rodrigo Duterte during the Talk to the People, Cusi said PHP3.5 billion of the… Read More
DOE expects 7,712 MW more power supply until 2027
September 3, 2021, 9:53 am
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi said the country may expect additional 7,712 megawatts of power supply from 2021 to 2027. During President Rodrigo Duterte’s Talk to the People late Thursday night, Cusi said the construction of new power sources is underway this year… Read More
Ample monetary space to support recovery: BSP
September 2, 2021, 6:55 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) continues to have ample monetary policy space and believes that the current accommodative policy settings represent appropriate stimulus to demand. The BSP said the accommodative policy settings should be allowed to continue to work their way… Read More
Foreign currency deposits back PH economic recovery
September 2, 2021, 6:49 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has recognized the contribution of Foreign Currency Deposit Unit (FCDU) system in the country’s economic recovery amid the pandemic. In an online briefing Thursday, Diokno said the country’s FCDU system remains on a solid… Read More
Peso, shares bounce back as investors return to PH
September 2, 2021, 6:27 pm
MANILA – Both the local bourse and currency bounced back on Thursday’s trading. The Philippine Stock Exchange index (PSEi) rose 0.72 percent or 48.72 points to 6,834.66 as investors reverted to buying local shares. All shares also improved by 0.40 points or 16.85 points to 4,232.11, with all… Read More
Office sector performs 'better than expected’ amid pandemic
September 2, 2021, 5:18 pm
CEBU CITY – Overturning the anticipated effects of the coronavirus pandemic, Megaworld Corp. reported it has booked around 415,000 square meters of office leases since the start of the pandemic early last year. Around 60 percent of these lease contracts booked since last year were renewals… Read More
Transport projects to drive construction growth in PH
September 2, 2021, 5:15 pm
MANILA – Transport infrastructure is expected as the key driver for the Philippine construction sector growth, Fitch Solutions said Thursday. In a commentary, the research unit of the Fitch Group said the Philippine construction industry is expected to grow by 24.2 percent year-on-year this… Read More
SEC orders Cebu-based firm to stop soliciting investments
September 2, 2021, 4:27 pm
CEBU CITY – The Securities and Exchange Commission (SEC) has ordered a financial consultancy company and its affiliate firms to stop soliciting money disguised as an investment platform for alleged gambling, medical supplies, and export firms. In a statement on Thursday, the SEC directed… Read More
Manufacturers urged to put off price hikes of Xmas products
September 2, 2021, 2:52 pm
MANILA – The Department of Trade and Industry (DTI) has urged manufacturers and retailers of Noche Buena products to maintain their current prices for the upcoming Christmas holiday. During the Laging Handa public briefing Thursday, DTI Consumer Protection Group Undersecretary Ruth Castelo said… Read More
APEC pushes structural reform agenda for quality growth
September 2, 2021, 1:58 pm
JAKARTA – Asia-Pacific Economic Cooperation (APEC) member economies, with the aim of achieving sustainable and inclusive growth, have advanced structural reform efforts to underpin rebuilding their economies post-pandemic, with a focus on productivity, innovation, and ease of doing… Read More
BTr fully awards reissued T-bonds
September 1, 2021, 8:08 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has fully awarded the seven-day term deposit facility (TDF) and partially awarded the 14-day TDF on auction Wednesday. The short-term TDF offered at PHP150 billion was oversubscribed, with tenders amounting to PHP232.8 billion. “The weighted… Read More
Stocks, peso down amid low manufacturing index
September 1, 2021, 7:08 pm
MANILA – The Philippine Stock Exchange index (PSEi) slipped while the peso depreciated on Wednesday following reports of deteriorating manufacturing activities in August. The PSEi fell 1.01 percent or 69.60 points to 6,785.94. Local shares also declined by 0.24 percent to 4,215.26, shedding… Read More
Gov’t revenues climb to P1.7-T in Jan-July
September 1, 2021, 6:56 pm
MANILA – National government revenues for January to July 2021 rose by 3.6 percent to PHP1.75 trillion from PHP1.69 trillion in the same period in 2020. Despite the increase, government revenues have yet to reach the pre-pandemic level with revenues amounting to PHP1.82 trillion. According to… Read More
2 hyperscalers from US, China to locate in PH this year
September 1, 2021, 6:39 pm
MANILA – At least two hyperscale companies will locate in the Philippines this year, Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said Wednesday. Rodolfo, who is also the managing head of the Board of Investments (BOI), said these companies are from China and the… Read More
Trains for MRT-7 project set to arrive next week: SMC
September 1, 2021, 6:35 pm
MANILA – San Miguel Corporation has announced that the first batch of trains for its Metro Rail Transit (MRT)-7 project is set to arrive in the country from South Korea next week, even as work continues for the completion of the much-awaited mass rail project. The trains, which consist of six… Read More
FTAs provide certainty amid health, economic crisis
September 1, 2021, 4:04 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has underscored the benefits of free trade agreements (FTAs) amid unstable conditions brought by the global health and economic crisis. During the virtual Belt and Road Summit Wednesday, Lopez said FTAs have provided… Read More
PH, Asean manufacturing activities down in August
September 1, 2021, 1:28 pm
MANILA – The Philippines, along with other Southeast Asian nations, recorded a slowdown in manufacturing activities in August amid the surging cases of the coronavirus disease 2019 (Covid-19) and increasing Delta variant in the region. IHS Markit reported Wednesday that the Philippines’… Read More
