Business
T-bill rates move sideways
May 24, 2021, 4:29 pm
MANILA – The rates of Treasury bills (T-bills) moved sideways Monday, partly tracking the movement of US Treasuries. The rate of the 91-day paper declined to 1.269 percent, the 182-day rose to 1.541 percent, and the 364-day slipped to 1.796 percent. These were at 1.270 percent for the… Read More
Diesel, gasoline prices up; kerosene down
May 24, 2021, 3:54 pm
MANILA – Local pump prices of diesel and gasoline will increase but costs of kerosene will decline on Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, and Seaoil will increase diesel prices by PHP0.25 per liter. Except for Cleanfuel, the same oil firms will hike gasoline… Read More
PH eyes New Zealand expertise to upgrade BOC, SSS services
May 23, 2021, 11:52 am
MANILA – Finance Secretary Carlos Dominguez III and New Zealand Ambassador to the Philippines Peter Kell have discussed possible bilateral cooperation arrangements that would allow the Bureau of Customs (BOC) and the Social Security System (SSS) to tap New Zealand’s expertise on modernizing… Read More
PH stocks gauge, peso end week on positive note
May 21, 2021, 5:58 pm
MANILA – The Philippine Stock Exchange index (PSEi) recovered at the end of this week’s session and the peso remained firm against the greenback. The Philippine Stocks Exchange index (PSEi) gained 0.03 percent, or 1.61 points, to 6,199.25 points. All Shares followed with a 0.06 percent, or… Read More
BSP 28-day securities rate up this week
May 21, 2021, 5:54 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose Friday due to strong demand as shown by the oversubscription amidst the higher offer volume. Data released by the central bank showed that the average rate of the debt paper rose to 1.7746 percent from 1.7739… Read More
BPO workers' inclusion in A4 vax list to boost economic recovery
May 21, 2021, 4:57 pm
MANILA – The inclusion of workers in the business process outsourcing (BPO) sector in the government's A4 coronavirus disease 2019 (Covid-19) vaccination priority list will further spur economic recovery, the country's trade chief said on Friday. In a statement, Trade Secretary Ramon Lopez… Read More
DOF exec cites need to further push for fiscal reforms
May 21, 2021, 4:40 pm
MANILA – A Department of Finance (DOF) official has cited the need to further push for fiscal reforms, noting its benefits for the government and the people during the pandemic. In an economic bulletin on Friday, Finance Undersecretary Gil Beltran said “the fiscal reforms adopted by the… Read More
Cebu City biz owners defying order ‘to retrofit' warned
May 21, 2021, 7:57 am
CEBU CITY – The Cebu City Police Office (CCPO) on Thursday warned business establishment owners who continue to defy orders from the city government to modify their physical set-up to conform to health protocols on capacity and physical distancing. Lt. Col. Wilbert Parilla, CCPO deputy chief for… Read More
BSP pushing toward financial-literate Filipinos
May 20, 2021, 9:24 pm
MANILA – Financial education (FinEd) in the country needs an additional push to help more Filipinos be prepared and literate financially. In a virtual briefing on Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the results of the World Bank’s 2015 financial literacy… Read More
Diokno shrugs off credit downgrades amidst rise in PH liabilities
May 20, 2021, 8:02 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno is confident that the Philippines will not lose its investment grade credit ratings amidst the jump in its debt because the level of liabilities remains within the international threshold. He said while the debt to gross… Read More
Release of private sector-procured vax will be ‘unhampered’: DOF
May 20, 2021, 7:49 pm
MANILA – Releasing of coronavirus disease (Covid-19) vaccines imported by the private sector will generally be the same as those bought by the government, Finance Secretary Carlos G. Dominguez III said. In a Viber message to journalists Thursday, Dominguez said the private sector-procured… Read More
PH stocks index dips as peso remains afloat vs. greenback
May 20, 2021, 7:46 pm
MANILA – The Philippines' main equities index shed Thursday partly on the rising coronavirus disease (Covid-19) cases in Asia while the peso remains firm against the US dollar. After recovering Wednesday, the Philippine Stock Exchange index (PSEi) lost 0.77 percent, or 48.07 points, to 6,197.64… Read More
DTI chief says PH exports ‘doing well’ amid pandemic
May 20, 2021, 3:19 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez on Thursday said the country’s export industry is still doing well amid the coronavirus disease 2019 (Covid-19) pandemic and prolonged community quarantine measures. During the Laging Handa public briefing, Lopez said the… Read More
New solar power source to rise in Pangasinan
May 20, 2021, 3:18 pm
MANILA – The country will have another source of solar energy as Aboitiz Power Corp. will build a 74-megawatt solar power facility in Cayanga, Bugallon in Pangasinan. “We are very excited about this because this is another step towards achieving our 10-year strategy with regard to… Read More
TDF rates post mixed results despite huge demand
May 19, 2021, 8:29 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) posted mixed results Wednesday but both tenors were oversubscribed due to the high liquidity situation in the economy, a ranking central bank official said. Data released by the central bank showed… Read More
Gov't financial inclusion bid key in bank's IT upgrade
May 19, 2021, 6:55 pm
MANILA – The government’s financial inclusion bid is among the factors for a financial institution’s move to fully migrate its information technology (IT) system to cloud technology to provide service to those living in far-flung areas. In a virtual briefing Wednesday, Union Bank of the… Read More
Stocks recover as investors stay on sidelines; peso nearly flat
May 19, 2021, 6:36 pm
MANILA – The Philippine Stock Exchange index (PSEi) recovered Wednesday as investors stayed on the sidelines while the peso ended the day sideways against the US dollar. The main equities gauge rose by 0.02 percent, or 0.97 points, to 6,245.71 points. All Shares increased by 0.14 percent, or… Read More
Bangladesh to boost trade with Visayas LGUs: honorary consul
May 19, 2021, 5:10 pm
CEBU CITY – Newly installed Honorary Consul General Virgilio Espeleta of the Consulate Office of the People’s Republic of Bangladesh here has expressed plans to boost the relations between the Visayas and the South Asian country. "There are a lot of opportunities in Bangladesh and the most… Read More
New liquefied natural gas terminal to supplement PH fuel supply
May 19, 2021, 4:10 pm
MANILA – The interim offshore liquefied natural gas (LNG) terminal of First Gen Corp. in Batangas will supplement the gas supply in the country as the Malampaya gas field is depleting more quickly than expected. During the annual stockholders’ meeting of First Gen Wednesday, its chief… Read More
Firm, customs broker face smuggling raps
May 19, 2021, 3:21 pm
MANILA – The Bureau of Customs (BOC) on Wednesday reported that two smuggling complaints were filed against a company and a customs broker over the illegal importation of aluminum products and airsoft guns and accessories worth over PHP2 million. In a statement, the BOC said the cases for… Read More
