Business
PSEi down on profit taking, peso moves sideways
July 1, 2024, 6:38 pm
MANILA – The local stock barometer declined on Monday due to profit taking, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) shed 13.14 points to 6,398.77 while the broader All Shares also declined by 7.19 points to 3,479.47. "The local bourse dropped by 13.14 points… Read More
BSP, other central banks gear up for Project Nexus implementation
July 1, 2024, 6:07 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) and other central banks in Asia recently completed the comprehensive blueprint for phase three of Nexus, a project that seeks to enhance cross-border payments by connecting multiple domestic instant payment systems (IPS) globally. In a joint… Read More
PH factories record positive score in June
July 1, 2024, 4:13 pm
MANILA – Performance of Philippine factories in June recorded a positive score, the S&P Global Manufacturing Purchasing Managers’ Index (PMI) reported Monday. Philippine manufacturing PMI in June stood at 51.3, easing from 51.9 in May. “Strong improvements in demand trends earlier in the… Read More
Gov’t raises P20-B from T-bills auction
July 1, 2024, 4:07 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded bids for Treasury bills (T-bills), raising PHP20 billion during Monday's auction. The 91-, 183-, and 364-day T-bills fetched average rates of 5.686 percent, 5.959 percent, and 6.050 percent, respectively - all lower than the prevailing… Read More
Firms greet consumers with higher oil, LPG prices in H2 ’24
July 1, 2024, 3:38 pm
MANILA – Starting the second half of the year are higher liquified petroleum gas (LPG) and pump prices. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP0.95 per liter and diesel prices by PHP0.65 per liter. Caltex,… Read More
World Bank announces new country director for PH, Brunei, Malaysia
July 1, 2024, 3:01 pm
MANILA – The World Bank on Monday said economist Zafer Mustafaoglu is the new Country Director for the Philippines, Malaysia, and Brunei Darussalam, effective July 1, 2024. In a statement, the World Bank said Mustafaoglu, a Turkish national, will oversee the bank's program of support in the… Read More
BMI sees BSP cutting rates by 50 basis points in 2024
July 1, 2024, 2:30 pm
MANILA – Fitch Solutions unit BMI said the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) will likely lower key interest rates by 50 basis points (bps) by October this year. In a report on Monday, BMI said the BSP will only start to reduce interest rates after the US Federal… Read More
APECO eases out POGO locator
July 1, 2024, 10:36 am
CASIGURAN, Aurora – For 17 years since its inception, the Aurora Pacific Economic Zone and Freeport Authority (APECO) had only one operating locator, but it was eased out in May. APECO president and chief executive officer Gil Taway IV told the Philippine News Agency in an interview last week… Read More
GCash: Customers’ accounts safe amid probe on alleged data breach
June 29, 2024, 9:27 am
MANILA – Mobile payments service GCash has assured its customers that their funds are safe as investigations on the alleged data leak continues. “Safety and trust are our top priorities. We are very proactive in making sure that our customers’ accounts and money remain safe,” GCash chief… Read More
AMLC: PH to ramp up efforts to exit grey list
June 28, 2024, 8:35 pm
MANILA – The Philippines has moved closer to exiting the Financial Action Task Force (FATF) grey list or list of jurisdictions under increased monitoring, after addressing items in its International Co-operation Review Group (ICRG) action plan. In a statement released on Friday, the FATF… Read More
PSEi rallies to 6,400-level; peso strengthens
June 28, 2024, 7:17 pm
MANILA — The local index and currency continued to strengthen on the week’s last day of trading, following the central bank’s statement that inflation is expected to ease by second half of the year. The Philippine Stock Exchange index (PSEi) on Friday rallied for the fifth day, closing at… Read More
BSP projects inflation to settle within 3.4% to 4.2% in June
June 28, 2024, 7:10 pm
MANILA –The Bangko Sentral ng Pilipinas (BSP) said headline inflation is projected to settle within the range of 3.4 percent to 4.2 percent this month. "Increases in the prices of agricultural commodities like rice, vegetables, meat, and fish, along with the peso depreciation and higher domestic… Read More
Hot money inflows hit US$43-M in May
June 28, 2024, 6:31 pm
MANILA – Foreign portfolio investments registered with the Bangko Sentral ng Pilipinas (BSP) through authorized banks recorded net inflows of USD43 million in May this year. BSP data released on Friday showed that the net inflows during the month resulted from the USD1.1 billion gross inflows… Read More
Consumers' sentiment still upbeat for next 12 months -BSP
June 28, 2024, 5:47 pm
MANILA – Consumer sentiment for the next 12 months continue to be optimistic but business outlook was less upbeat, results of a Bangko Sentral ng Pilipinas (BSP) survey showed. In a virtual briefing on Friday, BSP Monetary Policy Sub-Sector officer-in-charge Redentor Paolo Alegre Jr. said… Read More
PEZA: Alsons Group to expand ecozones in Sarangani
June 28, 2024, 5:10 pm
MANILA – The Philippine Economic Zone Authority (PEZA) on Friday said Alsons Group has at least two pending expansion plans in Sarangani Province. In a statement, PEZA said Alsons Group unit Kamanga Agro-Industrial Ecozone Development Corp. (KAIEDC) applied for a 32.8-hectare expansion of the… Read More
Over 200M coins deposited in BSP machines
June 28, 2024, 4:18 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said PHP783.6 million worth of coins have been deposited through its coin deposit machines (CoDM) as of June 23 this year. In a Facebook post on Friday, the BSP said the amount is equivalent to 211.68 million pieces of coins from 191,804… Read More
Firm eyes offshore MRO of ships in Aurora
June 28, 2024, 3:40 pm
CASIGURAN, Aurora – The Aurora Pacific Economic Zone and Freeport Authority (APECO) and Amphibia Marine and Subsea Services OPC signed a cooperation deal here Friday for a potential offshore maintenance, repair, and overhaul (MRO) and other services for vessels. Under the cooperation deal, APECO… Read More
US pending home sales fall to all-time-low 2.1% in May
June 28, 2024, 12:44 pm
ISTANBUL – US pending home sales decreased to record-low 2.1 percent in May, National Association of Realtors (NAR) data released Thursday showed. While market expectation for the figure is a 0.6 percent decline, pending home sales plummeted 7.7 percent in April to their lowest level in four… Read More
Stock, peso improve Thursday
June 27, 2024, 7:15 pm
MANILA – Both the local bourse and currency performed better on Thursday. The benchmark Philippine Stock Exchange index (PSEi) rallied for four days, finishing at 6,390.58, or 1.23 percent higher than the previous closing. All Shares also gained by 0.7 percent to 3,477.70. All indices ended in… Read More
Nat'l deficit widens by 43% in May
June 27, 2024, 6:19 pm
MANILA – The national government's budget deficit widened to PHP174.9 billion in May this year from PHP122.2 billion in the same month last year, reflecting a 43.10-percent increase as government expenditure outpaced revenue collections. In a news release on Thursday, the Bureau of the Treasury… Read More
