Business
Anti-money laundering laws needed to exit FATF gray list
August 11, 2021, 2:39 pm
MANILA – A three-pronged approach, including enactment of laws that fight money laundering and terrorist financing, is the “best solution” for a country to secure delisting from the Financial Action Task Force’s (FATF) gray list, a business risk solution executive said. In a virtual… Read More
Economic rebound report boosts demand for T-bonds
August 10, 2021, 8:14 pm
MANILA –The demand was strong for the fresh seven-year Treasury bond (T-bond) during the auction on Tuesday, which was partly driven by the report about the economic rebound. The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion and bids amounted to PHP63.696 billion. The… Read More
CREATE law boosts conglomerate’s first half 2021 profit
August 10, 2021, 8:11 pm
MANILA – Diversified engineering conglomerate DMCI Holdings Inc. has benefited from a lower income tax with the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. In a statement, DMCI Holdings said deferred tax liabilities dropped by 2 percent in the first half of the year… Read More
Stocks, peso slip as investors digest Q2 GDP growth
August 10, 2021, 7:37 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Tuesday in the negative territory, mirroring US counterparts, as investors stayed on the sidelines following the release of the second-quarter economic growth, which also affected the peso. The main equities index shed 0.14 percent, or… Read More
PH to join investment, trade fair in China
August 10, 2021, 6:56 pm
MANILA – The Philippines will be joining the China International Fair for Investment and Trade (CIFIT) 2021 from Sept. 8 to 11 in Xiamen, China. “For the second year in a row, the Philippines is once again given the distinct recognition as CIFIT’s Guest Country of Honour in 2021 to showcase… Read More
BSP's policy boost on PH growth seen until 2022
August 10, 2021, 6:19 pm
MANILA – Monetary policies’ importance in helping buoy the domestic economy from the pandemic is expected to be sustained until 2022, as an economist projects a vulnerable third quarter following the reimplementation of strictest lockdown level in Metro Manila amid the threat of a more… Read More
MBC calls on biz community to facilitate safe recovery
August 10, 2021, 6:15 pm
MANILA – The Makati Business Club (MBC) on Tuesday expressed its support to the government for safe economic recovery as the Philippines’ gross domestic product (GDP) recorded its first growth after five quarters of decline. The MBC has also welcomed the 3.7-percent economic growth for the… Read More
Bank raises budget for digital solutions for PH operations
August 10, 2021, 6:13 pm
MANILA – Philippine authorities’ bid to further digitalize financial transactions in the country has been supported by the Bank of China Manila (BOC), which recently partnered with Bancnet for its digital transformation move. In a reply to questions from the Philippine News Agency, BOC said… Read More
PH economy soars to 11.8% in Q2, strongest in over 3 decades
August 10, 2021, 1:49 pm
MANILA – The Philippine economy strongly recovered in the second quarter this year to 11.8 percent mainly driven by base effects and a “better balance” between addressing the impacts of the coronavirus and the need to restore jobs and incomes of Filipinos. The April to June economic growth… Read More
T-bill rates post mixed results on strong demand
August 9, 2021, 7:46 pm
MANILA – The rate of Treasury bills (T-bills) posted mixed results on Monday but demand remained strong, resulting in the full award for all tenors. The average rate of the 91-day paper moved to 1.064 percent, the 182-day to 1.625 percent, and the 364-day paper to 1.625 percent. These were… Read More
PSEi up, peso moves sideways vs. USD ahead of Q2 GDP report
August 9, 2021, 7:02 pm
MANILA – The main equities index started the week on a high note due in part to a positive jobs report in the US while the peso moved sideways against the US dollar. The Philippine Stock Exchange index (PSEi) gained 1.42 percent, or 92.66 points, to 6,632.57 points. Most of the other… Read More
DTI urges MSMEs to adopt digital transformation
August 9, 2021, 6:59 pm
MANILA – The Department of Trade and Industry (DTI) has urged micro, small and medium enterprises (MSMEs) to embrace digital transformation amid the “new normal”. At the virtual event of Small Business (SB) Corp. Monday, DTI Secretary Ramon Lopez said adopting digitalization will help… Read More
Cebu Chamber implements barangay-based entrepreneurial mentoring
August 9, 2021, 6:00 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI), in partnership with the city government, is implementing the Cebu Investment Development Concierge Center (CIDCC) project this year. CCCI president Felix Taguiam on Monday said one of the five pillars of the project is Supply Chain… Read More
Moody's Analytics eyes 0.6% PH GDP growth in Q2
August 9, 2021, 4:47 pm
MANILA – Moody’s Analytics forecasts an 0.6-percent expansion for the Philippine economy in the second quarter of 2021, an improvement from the -4.2 percent in the first quarter. The economic research subsidiary of Moody’s Corporation earlier said it expected a strong rebound for the… Read More
Oil price rollback set this week
August 9, 2021, 4:13 pm
MANILA – Oil firms will implement a rollback on their prices starting Tuesday morning. In separate statements, Caltex, Cleanfuel, Petro Gazz, PTT, Seaoil, and Shell said they will cut gasoline prices by PHP0.65 per liter and PHP0.70 per liter on diesel prices. Caltex, Seaoil, and Shell will… Read More
BTr ties up with banks on retail dollar bonds for small investors
August 9, 2021, 2:47 pm
MANILA – The Bureau of the Treasury (BTr) has teamed up with the country’s leading banks to let small investors buy at easy terms retail dollar bonds (RDBs) that the government is planning to issue this year to fulfill part of its domestic financing requirements for 2021. In a report to… Read More
BSP 28-day securities' rate drops on strong demand
August 6, 2021, 7:49 pm
MANILA – The average rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities fell on Friday due to strong demand. Data released by the central bank showed that the rate of the debt paper slipped to 1.7619 percent from last week’s 1.7769 percent. The BSP offered it again for PHP100… Read More
PH stocks index, peso slip as 2-week Metro Manila ECQ starts
August 6, 2021, 6:27 pm
MANILA – The Philippines’ main equities index shed anew on Friday along with the local currency due partly to the start of the two-week enhanced community quarantine (ECQ) in the National Capital Region (NCR). The Philippine Stock Exchange index (PSEi) lost 0.11 percent, or 7.36 points, to… Read More
Economist eyes 10.9% GDP growth for PH in Q2 ’21
August 6, 2021, 5:57 pm
MANILA – An economist forecasts a 10.9 percent growth for the Philippine economy for the second quarter of 2021, a big reversal from the decades-low -16.9 percent same period last year. In a report, ING Bank Manila senior economist Nicholas Mapa that while the year-on-year print is projected to… Read More
Digital innovation, gov't support to buoy agri sector
August 6, 2021, 5:35 pm
MANILA – Digital innovations and increased government support are seen to uplift the agricultural sector, a co-founder of a start-up company that won the Globe’s business Hack-it-On competition said. In a virtual briefing on Thursday, Farm Box co-founder John Lester Mendoza said the… Read More
