Business
SSS improves mobile app for easier use
June 30, 2021, 2:11 pm
MANILA – The Social Security System (SSS) launched Wednesday an improved version of its mobile application to allow its users to access information about their membership and contributions as well as for members to apply for salary loans and submit maternity notification via this app’s… Read More
Cebu sees emergence of hybrid workplaces amid pandemic
June 30, 2021, 2:07 pm
CEBU CITY – The increasing demand for hybrid workplaces has offered a flexible work environment for workers who are slowly getting back to their normal office functions despite the ongoing coronavirus disease 2019 (Covid-19) threat. Lars Wittig, International Workplace Group (IWG) country… Read More
20-yr T-bond rate declines on strong demand
June 29, 2021, 8:18 pm
MANILA – The rate of 20-year Treasury bond (T-bond) fell on Tuesday amid the strong demand for the debt paper. The average rate of the paper, which has a remaining term of 11 years and eight months, stood at 4.187 percent, lower than the 5.084 percent that another 20-year paper fetched during… Read More
Stocks index up tracking US counterparts; peso follows
June 29, 2021, 8:05 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose partly on investors’ end-of-the quarter positioning while the peso was lifted by the government’s USD3-billion global bond issuance. The main equities index rose by 0.27 percent, or 18.69 points, to 6,956.65 points. All Shares… Read More
DOE, USAID tie-up to mobilize P39-B energy investments
June 29, 2021, 7:56 pm
MANILA – The new partnership between the Department of Energy (DOE) and the United States Agency for International Development (USAID) is expected to mobilize USD750 million or PHP39 billion worth of investments in the energy sector. In a statement Tuesday, the DOE said it signed a memorandum… Read More
Robust FDI inflows to boost PEZA growth this year
June 29, 2021, 7:53 pm
MANILA – The Philippine Economic Zone Authority (PEZA) targets a 7-percent increase in investment approvals this year supported by strong investment interests from foreign sources. In a briefing Tuesday, PEZA deputy director general Tereso Panga said the investment promotion agency aims PHP6… Read More
PH issues $3-B dual-tranche global bond
June 29, 2021, 7:24 pm
MANILA – The country’s finances got a boost from the sale of USD3 billion worth of 10.5- and 25-year US-dollar denominated global bonds, which are expected to be settled this July 6. It issued USD750 million worth of the 10.5-year bond and USD2.25 billion for the 25-year tranche following… Read More
Faster vax rollout, fiscal support to drive PH economy this year
June 29, 2021, 6:42 pm
MANILA – Faster vaccination program rollout to address the high number of coronavirus disease 2019 (Covid-19) infections, targeted containment measures, and sustained implementation of stimulus programs are expected to buoy the Philippine economy this year, an economist said Tuesday. However,… Read More
DTI, DOT to realign tourism loan for truckers, other industries
June 29, 2021, 6:35 pm
MANILA – The Small Business (SB) Corp. and the Department of Tourism (DOT) have agreed to realign the allocated loan budget for tourism businesses to truckers and micro, small, medium enterprises (MSMEs) in other sectors. In a press conference Tuesday, SB Corp. executive vice president and… Read More
APEC’s Boracay agenda to help MSMEs recover from pandemic
June 29, 2021, 4:00 pm
MANILA – Micro, small, and medium enterprises (MSMEs) in the Asia Pacific have more leverage in recovering from the pandemic with the help of the Boracay Action Agenda (BAA). The Asia Pacific Economic Cooperation (APEC) has initiated in 2015 the BAA to encourage MSMEs to participate in the… Read More
Cebu thrift bank perks up motor loan to riders, workers
June 29, 2021, 3:38 pm
CEBU CITY – A Cebu-based thrift bank has offered a special program to clients who want to own a motorcycle for their easy commute to their work or business in this time of the pandemic. Feliciano Angue, CitySavings Bank executive vice president for motorcycle loans business, said the bank… Read More
BOC reports P4.4-B tax haul from 478 anti-smuggling operations
June 29, 2021, 1:26 pm
MANILA – The Bureau of Customs (BOC) has reported to the Department of Finance (DOF) it seized PHP4.43 billion worth of goods in the first five months of this year from 478 operations involving suspected smuggling activities during this period. Preliminary BOC data showed that of the seized… Read More
S&P gives ‘BBB+’ rating to planned PH USD bond issuance
June 28, 2021, 8:39 pm
MANILA – The country’s planned benchmark-sized senior unsecured US dollar bond issuance has been given a ‘BBB+’ rating by S&P Global Ratings. In a report, the debt rater said the rating is similar with that of the sovereign outlook on which is Stable. “The notes represent direct,… Read More
PSEi down; peso finishes weak
June 28, 2021, 8:11 pm
MANILA – The Philippine Stock Exchange index (PSEi) and peso both closed Monday’s trading weak. The PSEi finished at 6,937.96, down by 12.55 points. All shares were higher from previous trading at 4,244.61, gaining 15.03 points. Appetite for Mining and Oil shares remained high as it gained… Read More
PH eyes benchmark issuance of 10.5-yr, 25-yr US dollar bonds
June 28, 2021, 7:47 pm
MANILA – The Philippines is set to issue benchmark volume, or around USD500 million, multi-tenor US dollar bonds in the international capital market. In an announcement on Monday, the US Securities and Exchange Commission (SEC) said the Republic of the Philippines (ROP) dollar bond issuance… Read More
BOC-Dumaguete exceeds H1 target collection
June 28, 2021, 7:47 pm
DUMAGUETE CITY – The Bureau of Customs (BOC) Sub-port Office of Dumaguete has collected more revenues than their target for the first half of this year. In an interview with the Philippine News Agency, Dumaguete Customs Collector Fe Lluelyn Toring said from Jan. 1 to June 20, 2021, her office… Read More
BSP seen to keep key rates until H2 2022
June 28, 2021, 7:42 pm
MANILA – Fitch Group’s research arm forecasts that the Bangko Sentral ng Pilipinas (BSP) will hold to its current monetary policy until the second half of next year. In a commentary released to reporters Monday, Fitch Solutions said BSP is expected to keep the record-low 2 percent overnight… Read More
T-bills fully awarded at lower rates
June 28, 2021, 7:37 pm
MANILA – The Bureau of Treasury (BTr) awarded the 91-, 182-, and 364-day Treasury bills (T-bills) in full during Monday’s auction, National Treasurer Rosalia de Leon said. De Leon said the Auction Committee awarded all tenors in full as the average yields for the T-bills declined and with… Read More
PH to correct deficiencies after landing on ‘dirty money’ list
June 28, 2021, 5:47 pm
MANILA – The Philippine government commits to correct its deficiencies after the country returned to the gray list of the Financial Action Task Force (FATF), an international watchdog that aims to combat money laundering and the financing of terrorism. “This means we as a country made… Read More
Oil prices up for 5 straight weeks
June 28, 2021, 4:29 pm
MANILA – Oil prices continue to increase for five straight weeks as firms have announced another hike starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP1 per liter and diesel prices by PHP0.65 per… Read More
