Business
Manufacturing can pave PH path to high-income country status
August 27, 2021, 7:40 pm
MANILA – The ability of the Philippines to move up to high-income country status hinges on the long-term development of the agriculture and manufacturing sectors, the National Economic and Development Authority (NEDA) said. In his keynote speech during the Department of Trade and… Read More
Bank clients urged to use alternative banking channels
August 27, 2021, 7:34 pm
MANILA – Several banks have urged their clients to utilize the financial institutions’ online platforms during the National Heroes’ Day holiday on Monday as all their branches nationwide will be closed. In an advisory issued on Friday, Security Bank Corporation (Security Bank) said their… Read More
DA OKs fish importation in Q4
August 27, 2021, 6:38 pm
MANILA – The Department of Agriculture (DA) has approved on Friday the Certificate of Necessity to Import (CNI) 60,000 metric tons (MT) of fish in the last quarter of the year. This was recommended by the Bureau of Fisheries and Aquatic Resources (BFAR) in coordination with the Philippine… Read More
Stocks, peso weaken ahead of Fed symposium
August 27, 2021, 6:00 pm
MANILA – The Philippine Stock Exchange index (PSEi) declined on Friday as investors awaited Federal Reserve chairman Jerome Powell’s speech at the Jackson Hole monetary policy symposium later in the day, while the peso depreciated to the 50-level. The main index shed 0.50 percent, or 33.91… Read More
DTI, PCEx sign deal to curb plastic footprint
August 27, 2021, 5:55 pm
MANILA – The Department of Trade and Industry (DTI) and Plastic Credit Exchange (PCEx) have signed a memorandum of agreement (MOA) forging a partnership to address plastic waste problem in the country. The MOA was signed by DTI Secretary Ramon Lopez and PCEx founder and president Nanette… Read More
BSP 28-day bills rate declines
August 27, 2021, 5:22 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities declined on Friday as demand remained high for the debt paper. Data released by the central bank showed that the securities fetched an average rate of 1.7211 percent this week, a decline from the 1.7309 percent… Read More
Latest BSP forex lib to boost US dollar flows to PH
August 27, 2021, 4:16 pm
MANILA – The latest foreign exchange liberalization of the Bangko Sentral ng Pilipinas (BSP) is expected to encourage more investment inflows to the Philippines, an economist said. On Thursday, the BSP announced another policy reform regarding foreign currency transactions that aims to make… Read More
Chinese investments in PEZA ecozones hit P24-B
August 27, 2021, 4:04 pm
MANILA – Chinese investments in economic zones of Philippine Economic Zone Authority (PEZA) reached PHP24.09 billion, an official said on Friday. “We aim to invite more investors to the country and replicate the multiplier effects our enterprises created by locating and even creating more… Read More
New forex reforms to take effect Sept. 13
August 26, 2021, 7:31 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) now allows banks to sell foreign exchange to Filipinos who will send the funds to their relatives overseas. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno said this is part of the latest foreign exchange reforms, under Circular… Read More
Stocks end sideways; peso weakens on rising Covid cases
August 26, 2021, 7:22 pm
MANILA – Concerns on the rising coronavirus disease 2019 (Covid-19) cases due to the Delta variant and their impact on economic recovery resulted in the sideways close of the local stock barometer and the depreciation of the peso. The Philippine Stock Exchange index (PSEi) contracted by 0.02… Read More
Over 40% of PH workforce needs reskilling amid automation
August 26, 2021, 6:59 pm
MANILA – As industries embrace automation with the Fourth Industrial Revolution (Industry 4.0), more than 40 percent of the Filipino workforce needs reskilling and upskilling. During the Manufacturing Summit Thursday, McKinsey Singapore’s Digital Capability Centre in Asia Pacific partner and… Read More
PH debt still manageable: DOF chief
August 26, 2021, 6:55 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III has attributed the government’s manageable debt service to prudent fiscal management despite the increase in financing requirements due to the pandemic. “Primarily, our program is very manageable because it is very… Read More
SEC approves D&L Industries’ bond offering
August 26, 2021, 5:28 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the public offering by D&L Industries Inc. of fixed-rate bonds worth up to PHP5 billion, proceeds of which will be used to finance the expansion of its plant in Batangas and the partial repayment of bridge loans. The… Read More
NEDA chief hopes easing of restrictions by September
August 26, 2021, 4:39 pm
MANILA – Socioeconomic Planning Secretary Karl Kendrick Chua hopes that community quarantine measures next month would be less restrictive to ease the impacts of lockdowns on the economy. During the Manufacturing Summit Thursday, Chua said 54 percent of the economy is currently under modified… Read More
Release of funds for health care workers ensures eco recovery
August 26, 2021, 4:19 pm
MANILA – An assurance of the availability of funds for the health care sector and its timely release are expected to help address investors’ concerns regarding government measures targeted to ensure the economy’s recovery, an economist said. Healthcare worker unions recently cited the… Read More
Tech advances drive demand for semiconductor products
August 26, 2021, 3:16 pm
MANILA – The speed and scale of advancement in digital technologies are driving demand for semiconductor products, an opportunity which Philippine manufacturers can tap into. During the general membership meeting of Semiconductor and Electronics Industries in the Philippines Foundation, Inc.… Read More
OFW remittances, CREATE law to boost BOP position
August 25, 2021, 8:33 pm
MANILA – Remittances from overseas Filipino workers (OFWs) are expected to partly boost the country’s balance of payment (BOP) position in the coming months after the latter reversed into surplus last July following the deficits in the previous two months. The Bangko Sentral ng Pilipinas… Read More
Youth more attuned with financial security goal: study
August 25, 2021, 8:06 pm
MANILA – Some people think the youth are just squandering their time on unimportant things even during the pandemic. However, this is contrary to the results of a study done by a life insurer which showed that generation Y or the millennials aged 25 to 40 years, and the generation Z aged 15 to… Read More
BSP TDF rates post mixed results but demand remains
August 25, 2021, 7:10 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) interest rates registered mixed results on Wednesday but both tenors still posted strong demand from banks. Data released by the central bank showed that the average rate of the seven-day facility rose to 1.7207… Read More
ECCP calls for passing of key bills ahead of elections
August 25, 2021, 6:37 pm
MANILA – Before politicians get busy for the national election next year, the European Chamber of Commerce of the Philippines (ECCP) has urged the government to pass key legislation that will attract more foreign investments in the country. In a virtual media roundtable Wednesday, ECCP… Read More
