Business
PH stocks index slips on profit-taking, peso keeps footing
June 3, 2021, 6:55 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Thursday on the red after investors took profit but the peso remained resilient against the US dollar. The main equities index shed 0.73 percent, or 49.82 points, to 6,791.87 points. All shares tracked the main index after it lost 0.34… Read More
Condo unit prices shrink in second half of 2020: BSP execs
June 3, 2021, 6:54 pm
MANILA – Condominium prices contracted in the second half of 2020 but monetary officials are not worried about the situation, citing the pandemic as the factor for the negative print. In a virtual briefing Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the share of… Read More
Rotational brownouts not reflective of country’s power supply
June 3, 2021, 4:43 pm
MANILA – The country’s power capacity has increased by 30 percent since the start of the Duterte administration. In a Palace briefing Thursday, Department of Energy (DOE) Secretary Alfonso Cusi said the agency continues work on capacity building and has plans until 2040 to ensure that the… Read More
Rotational brownouts end as Luzon grid now back to normal
June 3, 2021, 1:26 pm
MANILA – The Department of Energy (DOE) said the Luzon grid is back to normal on Thursday, after three consecutive days of being under a red alert status. “As of 9 a.m., the Luzon grid is in normal system condition. There are currently enough power supply reserves to accommodate the projected… Read More
Business firms urged to acquire safety seal
June 3, 2021, 8:24 am
MANILA – Business establishments are urged to apply for a safety certification to confirm their compliance with the government’s minimum public health standards. Labor Secretary Silvestre Bello III said Wednesday private companies bearing the safety seal assure that they are practicing the… Read More
Ample liquidity, strong demand drive TDF rates movement
June 2, 2021, 8:01 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) ended mixed anew on Wednesday as domestic liquidity and huge demand for the debt paper remained. Data released by the central bank showed that the average rate of the seven-day facility declined to 1.7200… Read More
Covid-19 vax program, reform measures to boost economic recovery
June 2, 2021, 7:23 pm
MANILA – Continued vaccination of Filipinos against the coronavirus disease 2019 (Covid-19) is expected to boost the domestic economy’s recovery, especially since needed programs and reform measures have been put in place before the pandemic. In an economic bulletin on Wednesday, Finance… Read More
Cebu businesses urged to focus on recovery from pandemic
June 2, 2021, 7:03 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) has called on Cebuanos to rise against pressing economic challenges and move forward towards the new normal in business and trade amid the coronavirus disease 2019 (Covid-19) pandemic. The call was made as the Chamber launched Tuesday… Read More
Stocks rise on risk-on sentiments; peso ends sideways
June 2, 2021, 5:53 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained Wednesday on higher risk appetite among investors while the peso finished the day sideways against the greenback. The main equities index gained 3.23 percent, or 214.26 points, to 6,841.69 points. Other counters also gained during… Read More
408 drug applications with FDA automatically approved
June 2, 2021, 1:48 pm
MANILA – After the Anti-Red Tape Authority (ARTA) issued a show-cause order against the Center for Drug Regulation and Research (CDRR) under the Food and Drug Administration (FDA), some 408 drug applications were automatically approved. “In her explanation as full compliance of the show-cause… Read More
Rotational brownouts to persist in Luzon
June 2, 2021, 1:44 pm
MANILA – For three straight days, Luzon will be experiencing rotational brownouts as red alert status is still raised over the Luzon grid on Wednesday. According to Department of Energy’s (DOE) grid status update, Luzon grid will be on red alert between 9 a.m. and 5 p.m. and 6 p.m. and 11… Read More
Improved manufacturing output eyed as restrictions eased
June 1, 2021, 8:03 pm
MANILA – An economist forecasts an improvement in the country’s purchasing managers index (PMI) in the coming months as movement restrictions are eased, which allow for more economic activities. In a report, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said PMI… Read More
SEC drafts rules for Asean cross-border investments
June 1, 2021, 7:58 pm
MANILA – The Securities and Exchange Commission (SEC) is finalizing the guidelines that will facilitate the offering of collective investment schemes (CIS) across member jurisdictions of the Asean Capital Markets Forum (ACMF) that are signatory to the Asean CIS Framework, as it moves toward… Read More
PH, India joint venture into $12-B global seaweed market
June 1, 2021, 7:21 pm
MANILA – The bilateral relation between the Philippines and India is completely taking off as both countries expressed interest in a joint venture on the USD12 billion global market or 32 million metric tons (MT) for seaweeds. The growing bilateral relation in marine fisheries and aquaculture… Read More
20-year T-bill rate declines on huge demand
June 1, 2021, 6:02 pm
MANILA – The rate of 20-year treasury bond (T-bond) declined Tuesday as demand for government securities remained strong. The average rate of the debt paper slipped to 5.084 percent from 5.341 percent in the previous auction. The BTr offered the debt paper for PHP35 billion and the auction… Read More
Stocks end sideways amid record-breaking IPO; peso nearly flat
June 1, 2021, 5:59 pm
MANILA – Both the Philippine Stocks Exchange index (PSEi) and the peso ended Tuesday sideways as investors stayed on the sidelines partly due to the holiday in the US. The main equities index shed 0.02 percent, or 1.06 points, to 6,627.43 points. All Shares rose by 0.01 percent, or 0.47… Read More
Record-breaking IPO shows confidence in PH post-Covid growth
June 1, 2021, 3:06 pm
MANILA – Philippine-based food manufacturer Monde Nissin Corp. is now a publicly listed firm after completing the largest initial public offering (IPO) in local stock market’s history. During the listing ceremony of Monde Nissin Tuesday, Philippine Stock Exchange (PSE) president and chief… Read More
Infra boom to drive Cebu property sector’s recovery
June 1, 2021, 2:59 pm
CEBU CITY – The major infrastructure projects shaping up in Metro Cebu are expected to drive the demand for residential condominiums moving forward, as the real estate industry here looks forward to gradual recovery from the coronavirus disease 2019 (Covid-19) pandemic. Joey Bondoc, associate… Read More
T-bill rates fall on huge demand
May 31, 2021, 7:35 pm
MANILA – Strong demand for Treasury bills (T-bills) amidst fewer supply resulted in the decline in the debt papers’ rate on Monday. The average rate of the 91-day T-bills slipped to 1.235 percent, the 182-day to 1.472 percent, and the 364-day to 1.723 percent. These were at 1.269… Read More
Stocks dip as investors stay on sidelines; peso strengthens
May 31, 2021, 6:21 pm
MANILA – The Philippine Stock Exchange index (PSEi) started the week in the negative territory as investors stayed on the sidelines after its recent rally but the peso gained against the greenback. The main equities index shed 0.69 percent, or 46.02 points, to 6,628.49 points. All Shares… Read More
