Business
TDF rates slip on strong liquidity, demand
June 23, 2021, 8:16 pm
MANILA – The rates of both the seven and 14-day term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) declined this week on strong demand and high liquidity situation. Data released by the central bank showed that the average rate of the one-week facility slipped to 1.7376… Read More
Stocks rise on US inflation optimism; peso slips
June 23, 2021, 8:12 pm
MANILA – Local shares gained on Wednesday but the peso weakened against the US dollar on assurance from the Federal Reserve that the inflation upticks in the US were transitory. The Philippine Stock Exchange index (PSEi) gained by 0.70 percent, or 48.00 points, to 6,918.41 points. The… Read More
NEDA affirms gov’t support to businesses amid Covid-19 crisis
June 23, 2021, 6:16 pm
MANILA – The government’s economic recovery package must be accelerated to support businesses and enable them to retain or employ new workers, the National Economic and Development Authority (NEDA) said. “Our recovery program has been in place since last year and implementing this will help… Read More
5 Cebu establishments get safety seal for protocol compliance
June 23, 2021, 3:12 pm
CEBU CITY – A construction firm, supermarket, barbershop, and a hotel in Cebu are the first recipients of safety seal certification in separate ceremonies on Wednesday. The safety seals were awarded to the Cebu Link Joint Venture, The Marketplace, Robinsons Galleria, Bruno’s Barbers at SM… Read More
20-B yen loan package to help PH in Covid-19 response efforts
June 23, 2021, 2:52 pm
MANILA – Finance Secretary Carlos Dominguez III has thanked the Japanese government for approving the disbursement of 20 billion yen (about PHP8.71 billion) under the second phase of the Post-Disaster Standby Loan (PDSL-2) package extended to the Philippines to assist it in its coronavirus… Read More
Economist cites structural solutions to boost gov't revenues
June 23, 2021, 11:34 am
MANILA – The decline in the number of domestic coronavirus disease 2019 (Covid-19) cases and the continued easing of movement restrictions are seen as the strong boost for the improvement of the government’s fiscal position this year. The government on Tuesday reported a PHP200.3 billion… Read More
5-year T-bond rate slips on strong demand
June 22, 2021, 7:58 pm
MANILA – The rate of five-year treasury bond (T-bond) slipped on Tuesday due to strong demand. The average rate of the debt paper fell to 3.185 percent from 3.732 percent when the paper was last auctioned on March 9, 2021. The Bureau of the Treasury (BTr) offered it for PHP35 billion and… Read More
Stocks recover; peso almost unchanged vs. US dollar
June 22, 2021, 7:54 pm
MANILA – The main equities index recovered on Tuesday, tracking US counterparts, while the peso ended the day little moved against the US dollar. The Philippine Stock Exchange index (PSEi) gained by 0.63 percent, or 43.24 points, to 6,870.41 points. All Shares followed with a jump of 0.68… Read More
40K housing beneficiaries to benefit thru Globe, NHA tie-up
June 22, 2021, 7:03 pm
MANILA – Filipinos’ digital life changed drastically with the constant need for connectivity. Distance learning and work-from-home arrangements continuously challenge the underprivileged families struggling to cope with digitalization. Driven to address this need, Globe entered into a… Read More
BSP rates seen to rise by 75 bps next year
June 22, 2021, 6:53 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) key rates are expected to rise by 75 basis points in 2022, with the first hike seen in the first quarter. HSBC Private Banking and Wealth Management managing director Fan Cheuk Wan said they also continue to forecast a 6.3-percent growth for the… Read More
DOE launches offshore wind roadmap project
June 22, 2021, 6:25 pm
MANILA – The Department of Energy (DOE) announced Tuesday it partnered with the World Bank Group to craft a roadmap to harness the country’s offshore wind energy as a potential source of clean power. In a statement, the DOE said the World Bank Group’s Energy Sector Management Assistance… Read More
CREATE law draws interest of US investors
June 22, 2021, 5:48 pm
MANILA – Interests of American investors became robust after the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) was passed into law this year, Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said. During the virtual Philippines-United States Business… Read More
FTA to set predictable trade environment between PH, US
June 22, 2021, 4:20 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said the Philippines and the United States can further boost their economic ties through a free trade agreement (FTA). During the virtual Philippines-United States business dialogue "Cooperation for Post-Pandemic Recovery"… Read More
76% of Wilcon employees willing to get vaccinated
June 21, 2021, 8:22 pm
MANILA – Home improvement and construction supply retailer, Wilcon Depot Inc., said over three-fourths of its employees are now willing to be vaccinated, especially with the expected arrival of its procured vaccines against the coronavirus disease 2019 (Covid-19) next month. “Our company… Read More
Peso, stocks gauge down on Fed hike concerns
June 21, 2021, 7:43 pm
MANILA – Concerns on the possibility of an earlier-than-expected increase in the Federal Reserve rates resulted in the negative close of both the Philippine Stock Exchange index (PSEI) and the peso on Monday. The main equities index shed by 0.35 percent, or 24.21 points, to 6,827.17… Read More
Firm gets 25-year contract with Cebu water district
June 21, 2021, 7:27 pm
CEBU CITY – Power company Vivant Corp. on Monday announced that its wholly-owned subsidiary, Vivant Hydrocore Holdings Inc. (VHHI), has been awarded a 25-year bulk water supply agreement by the Metropolitan Cebu Water District (MCWD). This was disclosed by the company in a statement to the… Read More
BSP seen to hold rates steady at its June policy meeting
June 21, 2021, 6:16 pm
MANILA – Fragile economic situation in the Philippines due to the pandemic is expected to be the reason for the Bangko Sentral ng Pilipinas (BSP) to keep rates steady at record-low 2 percent to date. In its Asia Pacific Economic Preview issued on Monday, Moody’s Analytics forecasts unchanged… Read More
FTAs open more overseas prospects for PH construction industry
June 21, 2021, 6:03 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said the country’s free trade agreements (FTAs) have opened more opportunities overseas for Philippine construction industry. During the virtual conference of the Philippine Overseas Construction Board (POCB) Monday, Lopez… Read More
Reliable power system to boost economic recovery: DOE exec
June 21, 2021, 5:35 pm
MANILA – A Department of Energy (DOE) official has urged stakeholders in the power sector to abide by the policies set by the agency to ensure reliable supply of electricity in the country. During the Laging Handa public briefing Monday, DOE Undersecretary William Felix Fuentebella said the… Read More
T-bill rates fall on sustained low interest rate expectations
June 21, 2021, 5:01 pm
MANILA – The rates of treasury bills (T-bill) declined across-the-board on Monday partly on expectations of a sustained low interest rate environment. The average rate of the 91-day paper slipped to 1.078 percent, the 182-day to 1.348 percent, and the 364-day to 1.563 percent. These were at… Read More
