Business
Peso, stocks index move sideways on Fed meet
June 16, 2021, 7:08 pm
MANILA – Both the local main stocks gauge and the peso ended Wednesday sideways partly on investors’ decision to stay on the sidelines at the start of the Federal Open Market Committee’s (FOMC) two-day policy meeting. The Philippine Stock Exchange index (PSEi) slipped by 0.05 percent, or… Read More
Trade facilitation body to sharpen MSME competitiveness
June 16, 2021, 2:33 pm
MANILA – Finance Secretary Carlos Dominguez III has underscored the critical role of the newly formed Philippine Trade Facilitation Committee (PTFC) in enabling the country’s micro, small and medium enterprises (MSMEs) to actively participate in international trade and broaden their access to… Read More
Economic rebound seen this year
June 15, 2021, 8:34 pm
MANILA – Prospects for economic recovery are up for the Philippines but uncertainties remain thus, the greater need for policy discipline and readiness for any risks, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Tuesday. During the virtual forum of the Economic Journalists… Read More
10-yr T-bond rate declines on huge demand
June 15, 2021, 7:44 pm
MANILA – The rate of 10-year treasury bond (T-bond) fell on Tuesday on the back of strong demand for the securities. The average rate of the debt paper fell to 3.719 percent from 4.614 percent during the auction last March 23. The Bureau of the Treasury (BTr) offered the paper for PHP35… Read More
Stocks index rise ahead of Fed FOMC meet; peso weakens
June 15, 2021, 7:23 pm
MANILA – The local stock barometer rose Tuesday amid the wait-and-see stance ahead of the Federal Open Market Committee’s (FOMC) June 15-16 meeting, but the peso depreciated against the greenback. The Philippine Stock Exchange index (PSEi) gained by 0.86 percent, or 59.24 points, to 6,976.73… Read More
Restrictions in other areas slow down restoring jobs
June 15, 2021, 6:43 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has estimated there are remaining 400,000 to 500,000 jobs lost in the labor market despite the reopening of sectors. In an interview with Radyo Pilipinas Tuesday, Lopez said the restrictions in other parts of the country have… Read More
Moringa plant transfer to boost economy in Ilocos
June 15, 2021, 6:22 pm
LAOAG CITY – The transfer of a moringa manufacturing plant from Pasig, Metro Manila to Ilocos Norte will boost local employment here once the proposed partnership is approved. While talks are underway for the entry of the new moringa investor, Edwin Cariño, head of the Sustainable Development… Read More
PH needs $121-B investments in renewable energy: DOE
June 15, 2021, 6:12 pm
MANILA – The country will need at least USD121 billion of investments in renewable energy between 2020 to 2040 to achieve the Clean Energy Scenario (CES), a Department of Energy (DOE) official said Monday. At the Sulong Pilipinas Conference Tuesday, DOE Undersecretary William Felix Fuentebella… Read More
Siblings plunge into business through 'thick and thin'
June 15, 2021, 5:33 pm
LAOAG CITY – When Elizsa Gayle Cafirma, 30, together with her younger siblings Elize, 23, and Edel, 27, decided to plunge into business, they know well that it will be going to be a tough ride. But having each other's back, the journey could be an adventure of a lifetime. Sharing the same… Read More
BOC-Cebu chief urges brokers to cut cost on importation
June 15, 2021, 3:54 pm
CEBU CITY – The chief of the Bureau of Customs–Port of Cebu has urged customs brokers here to work for a reduced cost in doing business to keep abreast with the current thrust in facilitating trade and maximizing revenues from imports. Lawyer Charlito Martin Mendoza, BOC-Cebu acting district… Read More
Recovery seen with gradual lifting of restrictions, vax rollout
June 15, 2021, 2:47 pm
MANILA – The gradual lifting of quarantine restrictions and continuous vaccination rollout will help the Philippine economy recover by 6 to 7 percent in 2021 and return to pre-pandemic levels by 2022, National Economic and Development Authority (NEDA) said Tuesday. “The main difference… Read More
Local auto industry continues to recover in May
June 14, 2021, 7:56 pm
MANILA – The country’s automotive industry has continued to recover as sales in May 2021 increased compared to the previous month and May 2020, the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed. The… Read More
PSEi soars to 3-month high on quarantine easing hint; peso slips
June 14, 2021, 7:51 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Monday with gains partly on possible easing of quarantine measures in the National Capital Region (NCR) Plus, but the peso closed weaker against the US dollar. The main equities index gained by 0.14 percent, or 9.70 points, to 6,917.49… Read More
SEC warns Cebuanos vs. XNC cryptocurrency scheme
June 14, 2021, 7:42 pm
CEBU CITY – The Securities and Exchange Commission–Cebu extension office on Monday warned Cebuanos against engaging with digital currency schemes operated by individuals whose aim was to victimize unsuspecting would-be investors. Lawyer Giness Marie Teves, legal officer of SEC-Cebu, said… Read More
Strong demand pulls down T-bill rates
June 14, 2021, 6:54 pm
MANILA – The rate of Treasury bills declined across-the-board Monday on huge demand given the ample liquidity in the domestic economy. The average rate of the 91-day paper slipped to 1.118 percent, the 182-day to 1.372 percent, and the 364-day to 1.577 percent. These were at 1.176 percent,… Read More
DTI urges IATF to allow gyms to reopen even without safety seal
June 14, 2021, 5:22 pm
MANILA – The safety seal should work as an option for gym operators to expand their capacity rather than a requirement for fitness centers to reopen their business, the top trade official said Monday. In a Palace briefing, Department of Trade and Industry (DTI) Secretary Ramon Lopez said he… Read More
Oil firms to hike pump prices anew
June 14, 2021, 4:24 pm
MANILA – Prices of fuel products will increase anew this week. Starting Tuesday morning, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Total will increase diesel prices by PHP0.40 per liter and gasoline prices by PHP0.50 per liter. Caltex, Seaoil, and Shell will also raise… Read More
Businesses urged to spend big on innovation, digitalization
June 14, 2021, 1:47 pm
MANILA – Finance Secretary Carlos Dominguez III underscored Monday the need for Philippine businesses to invest heavily in digitalization and innovation to stay competitive as the world rapidly transitions to a new post-pandemic global economy driven by abrupt and disruptive changes in… Read More
Dominguez to GCG: Improve system in evaluating GOCCs
June 13, 2021, 1:23 pm
MANILA – Finance Secretary Carlos Dominguez III has urged the Governance Commission for Government-Owned and -Controlled Corporations (GCG) to incorporate the assessments made by regulatory agencies in evaluating the performance of state-run firms to further improve its oversight functions and… Read More
PCC to establish regional offices in Cebu, Davao
June 12, 2021, 12:01 pm
MANILA – The Philippine Competition Commission (PCC) will expand its office this year by putting up investigation hubs in Cebu and Davao.In a virtual forum Friday, PCC chairman Arsenio Balisacan said these new regional offices would strengthen the agency’s institutional capacity in its… Read More
