Business
Economist eyes BSP rate adjustment by mid-2022
July 6, 2021, 7:08 pm
MANILA – An economist forecasts the Bangko Sentral ng Pilipinas (BSP) to keep key rates steady to still help lift the domestic economy from the impact of the pandemic, and sees a possible rate adjustment by mid-2022. This, as inflation remains elevated amid the deceleration last June to 4.1… Read More
Stocks index, peso slide amid better June inflation rate
July 6, 2021, 7:04 pm
MANILA – The Philippine Stock Exchange index (PSEi) slipped Tuesday, partly on deceleration of inflation last month to 4.1 percent while the peso weakened against the US dollar. After starting the week up, the main equities index shed 0.62 percent, or 43.95 points, to 6,992.43 points. All… Read More
BSP seen to keep accommodative policy sans add'l stimulus measure
July 6, 2021, 7:00 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) accommodative monetary policy is expected to remain amidst the deceleration of inflation rate last June to 4.1 percent to buoy the economy sans an additional stimulus measure. In a report on Tuesday, Rizal Commercial Banking Corporation… Read More
7-year T-bond rates fall on slower June inflation
July 6, 2021, 6:56 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the PHP35-billion offering for the seven-year treasury bond (T-bond), which fetched a lower rate due partly to the deceleration of the domestic inflation rate. The average rate of the debt paper stood at 3.576 percent, lower… Read More
DTI, Metro Retail partner to bring MSMEs to mainstream mart
July 6, 2021, 5:15 pm
MANILA – The Department of Trade and Industry (DTI) and Metro Retail Stores Group, Inc. (MRSGI) have forged a partnership to help micro, small and medium enterprises (MSMEs) access the mainstream market. DTI and MRSGI launched Tuesday the “Bayanihang Metro x Go Lokal” initiative that will… Read More
Inflation decelerates as gov’t policy interventions take effect
July 6, 2021, 3:44 pm
MANILA – Policy interventions to stabilize commodity prices have begun to take effect as headline inflation decelerated in June 2021, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority (PSA) reported Tuesday that headline inflation rate slowed… Read More
DTI automates domestic bidder’s certificate
July 6, 2021, 3:40 pm
MANILA – Domestic enterprises that would like to participate in government biddings can now secure certificates of preference from the Department of Trade and Industry (DTI) online. In a statement Tuesday, the DTI said it has automated the system for submission of application, evaluation, and… Read More
Pork import hikes to slash prices for consumers
July 6, 2021, 2:59 pm
MANILA – The Bureau of Customs (BOC) has reported a spike in pork imports to 76 million kilograms (kg) from April to early June, following the issuance by President Rodrigo Duterte of a series of executive orders (EOs) cutting tariffs on incoming swine meat shipments and increasing the allowable… Read More
Diokno cites value of non-monetary measures vs. high inflation
July 6, 2021, 2:54 pm
MANILA – Effective implementation of non-monetary measures is expected to further help address supply-side pressures on domestic inflation rate, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Tuesday. The rate of price increases last June decelerated to 4.1 percent from 4.5… Read More
PH inflation rate eases to 4.1% in June
July 6, 2021, 1:21 pm
MANILA – The country’s inflation rate slowed down to 4.1 percent in June from the previous month’s 4.5 percent as fuel and transport costs decelerated, the Philippine Statistics Authority (PSA) reported on Tuesday. Last month’s figure brought the average inflation rate for the first six… Read More
T-bill rates rise on Covid-19, inflation concerns
July 5, 2021, 8:03 pm
MANILA – The rates of treasury bills (T-bills) rose across-the-board on Monday partly due to concerns on the coronavirus disease 2019 (Covid-19) and the elevated inflation rate. Average rate of the 91-day paper increased to 1.044 percent, the 182-day rate to 1.351 percent, and the 364-day to… Read More
Gokongwei Group boosts gov’t’s Covid-19 vaccination efforts
July 5, 2021, 7:56 pm
MANILA – Diversified conglomerate Gokongwei Group is playing a proactive role in the government’s initiatives against the coronavirus disease 2019 (Covid-19) pandemic, particularly in line with disease prevention and achieving population protection target through vaccination. “Beyond our… Read More
PHINMA backs PH vax program, starts inoculation for employees
July 5, 2021, 7:39 pm
MANILA – PHINMA Group has started the coronavirus disease 2019 (Covid-19) immunization for its employees, supporting the government’s target to achieve population protection before the year ends. On Monday, the company launched PHINMAVax, its own vaccination program, giving free Covid-19… Read More
PH stocks up on US positive jobs report; peso almost unchanged
July 5, 2021, 6:54 pm
MANILA – The Philippine Stock Exchange index (PSEi) started the week with gains following positive jobs report from the US while the peso ended the day little changed against the US dollar. The PSEi rose by 0.49 percent, or 34.12 points, to 7,036.38 points. All Shares increased by 0.48… Read More
Gov't efforts to boost e-commerce in PH cited
July 5, 2021, 6:39 pm
MANILA – An executive of a logistics integrator has recognized the government’s efforts to boost digitalization of processes that spur businesses’ capacities and increase opportunities amidst the pandemic. Constantin Robertz, Locad chief executive officer (CEO) and co-founder, said… Read More
BIR padlocks 207 errant firms, nets P995-M back taxes
July 5, 2021, 6:32 pm
MANILA – The Bureau of Internal Revenue (BIR) has shut down the operations of 207 commercial establishments in the first five months of this year for various tax code violations, which resulted in collections of PHP995.04 million in taxes under its Oplan Kandado program. In the month of May… Read More
Diesel, gas prices up for 6th straight week; kerosene down
July 5, 2021, 3:39 pm
MANILA – Oil firms have announced adjustments in diesel and gasoline prices, marking the sixth consecutive week of increases, and a reduction in kerosene prices effective Tuesday. In separate statements, Caltex, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will increase prices of… Read More
Biz sentiment weak; consumer confidence improves in Q2 ‘21
July 3, 2021, 1:31 pm
MANILA – Businesses were less optimistic while consumer confidence improved in the second quarter of the year, the Bangko Sentral ng Pilipinas (BSP) Business Expectations Survey (BES) and Consumer Expectation Survey (CES) showed Friday. Senior director of the BSP Department of Economic… Read More
28-day BSP securities awarded in full
July 3, 2021, 9:58 am
MANILA – The Bangko Sentral ng Pilipinas (BSP) awarded its debt paper in full at a lower yield. Central bank data showed that the 28-day BSP securities fetched a rate of 1.8115 percent on Friday, down from last week’s yield of 1.8158 percent. “The BSP maintained the PHP100 billion offering… Read More
Stock market breaches 7,000-level, peso weaker
July 2, 2021, 8:07 pm
MANILA – The Philippine Stock Exchange index (PSEi) closed the week breaching the 7,000-mark while the local currency further weakened to PHP49-level on Friday. With all counters finishing in the green territory, PSEi closed today’s trading improving by 38.25 points at 7,002.26. It was on… Read More
