Business
BSP 28-day bills rate slips anew on strong demand
May 14, 2021, 4:33 pm
MANILA – Sustained robustness of domestic liquidity continues to drive strong demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities, resulting to another decline in its interest rates. Data released by the central bank on Friday showed that interest rate of the debt paper fell to… Read More
Outdoor biz 'in' amid pandemic: DTI chief
May 14, 2021, 2:29 pm
MANILA – As the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) now favors outdoor and non-contact activities, Trade Secretary Ramon Lopez said on Friday outdoor businesses with no mass gatherings would be an emerging business model. In a radio interview,… Read More
Fitch Solutions keeps 4% inflation projection for PH this year
May 13, 2021, 7:05 pm
MANILA – Fitch Solutions is keeping its 4-percent average inflation forecast for the Philippines this 2021 amid the cut in the central bank’s projection but sees average inflation next year to decelerate to around 3.4 percent. In a report dated May 12, the unit of Fitch Group said these… Read More
Financial inclusion rising through gov't, private sector tie-up
May 13, 2021, 6:58 pm
MANILA – The government’s bid for financial inclusion and digital payments partly gets a lift through collaborative efforts with the private sector, an executive of GCash said. The Bangko Sentral ng Pilipinas (BSP) said digital payments surged since the start of the pandemic last year because… Read More
50-MW solar power plant in Bulacan starts operation
May 13, 2021, 4:12 pm
MANILA – The Luzon grid has additional sources of clean and renewable energy as PowerSource First Bulacan Solar, Inc. (PFBSI) has started its commercial operation. This, as the Energy Regulatory Commission cleared the commercial operation for the 50-megawatt BulacanSol located in San Miguel,… Read More
BSP term deposit facility rates down anew
May 13, 2021, 3:54 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) increased the offering for the 14-day term deposit facility (TDF) this week although it was undersubscribed. However, the average rate of the shorter-dated facility slipped to 1.7253 percent and the 14-day facility to 1.7392 percent, BSP data… Read More
Peso ends flat; stock market down on US inflation worries
May 12, 2021, 7:58 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended its two-day rally on Wednesday partly on concerns on rising inflation rate in the US but the peso finished the day sideways against the US dollar. The main equities index lost 1.43 percent, or 90.43 points, to 6,236.40 points. All… Read More
BSP keeps key rates steady anew
May 12, 2021, 7:24 pm
MANILA – Philippine monetary officials on Wednesday kept the Bangko Sentral ng Pilipinas’ (BSP) key policy rates steady as inflation is now expected to stay within target this and next year and domestic growth to post improvements. During the virtual briefing streamed through the BSP’s… Read More
Landbank launches savings account opening via mobile app
May 12, 2021, 7:04 pm
MANILA – State-owned Land Bank of the Philippines (Landbank) on Wednesday launched through its Facebook page its digital onboarding system (DOBS) Mobile, which will allow people to open a savings account using their mobile phones. In a statement, Landbank said DOBS Mobile supports the… Read More
DOE, Japanese firm partner to update petroleum reserve program
May 12, 2021, 6:59 pm
MANILA – The Department of Energy (DOE) on Wednesday signed a memorandum of agreement (MOA) with Japanese firm Japan Oil, Gas and Metals National Corporation (JOGMEC) to kick off study on the oil contingency plan and petroleum reserve program. The signing was led by DOE Secretary Alfonso Cusi… Read More
More financing options available for MSMEs
May 12, 2021, 5:49 pm
MANILA – Micro, small and medium enterprises (MSMEs) continue gaining access to credit partly through the establishment of credit surety funds (CSFs), as at least 15 additional CSFs are expected to register until end-2021. In a virtual briefing Wednesday, Bangko Sentral ng Pilipinas (BSP)… Read More
DTI chief sees need to ramp up oxygen supply
May 12, 2021, 4:17 pm
MANILA – The country has to start ramping up medical oxygen supply to prepare for the possible increase in demand, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. In a television interview Wednesday, Lopez said although the country can still meet the requirement for medical… Read More
Cebu retail chain hopeful on pandemic recovery
May 12, 2021, 3:47 pm
CEBU CITY – A Cebu-based retail chain on Wednesday expressed optimism about coping with challenges brought about by the coronavirus disease 2019 (Covid-19) pandemic as it continues to look to long-term sustainable recovery programs. The Metro Retail Stores Group Inc. (MRSGI) reported a net loss… Read More
DBP eyes LGU credit rating system
May 12, 2021, 2:45 pm
MANILA – State-owned Development Bank of the Philippines (DBP) is working closely with the Department of Finance (DOF), state regulators, and multilateral lending institutions in establishing a local government unit (LGU) credit rating system that seeks to mainstream bond flotations as a… Read More
PEZA investment approvals recover in Q1
May 12, 2021, 2:41 pm
MANILA – Investment approvals in the Philippine Economic Zone Authority (PEZA) in the first quarter of the year have recovered despite the ongoing global health and economic crisis, the investment promotion agency (IPA) said in a statement Wednesday. The PEZA approved PHP25.38 billion worth of… Read More
2021 PH economic growth may still hit 5-6%: economist
May 11, 2021, 7:54 pm
MANILA – An economist sees the Philippine economy still growing by 5-6 percent in 2021 after posting a smaller contraction in the first quarter partly on increased infrastructure spending. In a report, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the -4.2… Read More
Peso almost unchanged; stocks rise on smaller GDP contraction
May 11, 2021, 6:40 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained anew Tuesday amid a smaller contraction in the first-quarter domestic output but the peso ended the day sideways against the US dollar. The main equities index rose by 0.15 percent, or 9.42 points, to 6,326.83 points. All Shares… Read More
ARTA issues show-cause order vs. FDA drug center
May 11, 2021, 6:35 pm
MANILA – The Anti-Red Tape Authority (ARTA) has issued a show-cause order against Center for Drug Regulation and Research (CDRR) under the Food and Drug Administration (FDA) as it has allegedly taken no action for over 600 drug applications submitted by pharmaceutical companies. In a statement… Read More
Joint venture ups tech investments amid gov't digital push
May 11, 2021, 5:52 pm
MANILA – The government’s digital push for financial transactions has made officials of SB Finance Company Inc. (SBF) to allocate 15 percent of its additional PHP3-billion capital for technological innovations needed under the new normal. SBF, a joint venture between Security Bank Corporation… Read More
Vehicle sales up amid pandemic
May 11, 2021, 5:48 pm
MANILA – Vehicle sales from January to April this year increased by 36.3 percent to 88,155 units from 64,675 units in the same period in 2020, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association reported Tuesday. Both passenger car and… Read More
