Business
Economist eyes steady BSP rate as Q1 GDP still negative
May 11, 2021, 3:18 pm
MANILA – With domestic growth still in contraction in the first quarter of 2021, an economist expects greater policy support from the Bangko Sentral ng Pilipinas (BSP) until the economy recovers. The Philippine Statistics Authority (PSA) on Tuesday reported the -4.2 percent output of the… Read More
PH economy shrinks at slower pace of 4.2% in Q1; recovery seen
May 11, 2021, 2:21 pm
MANILA – The Philippine economy shrank at a slower pace in the first quarter of the year of 4.2 percent and is expected to stage a recovery in the next quarters despite the reimposition of stricter quarantine measures in Metro Manila and other provinces. The Philippine Statistics Authority (PSA)… Read More
T-bill rates decline on strong demand
May 10, 2021, 7:29 pm
MANILA – The rates of treasury bills (T-bills) declined Monday as demand continued to remain high. The average rate of the 91-day paper declined to 1.278 percent, the 182-day to 1.549 percent, and the 364-day to 1.829 percent. These were at 1.306 percent, 1.629 percent, and 1.863 percent for… Read More
Peso weakens, stocks recover ahead of GDP report
May 10, 2021, 6:18 pm
MANILA – Wait-and-see stance regarding the Philippine economy’s first-quarter output mainly resulted in the jump in the Philippine Stock Exchange index (PSEi) Monday but the peso weakened against the greenback. After a slide in most trading days last week, the Philippine Stock Exchange index… Read More
Lower tariff, more charging stations to boost e-vehicles growth
May 10, 2021, 6:06 pm
MANILA – Lowering import duties and improving charging infrastructure will drive the demand for e-vehicles in the country, an industry player said Monday. Nissan Philippines president and managing director Atsushi Najima said a reduction of 5 to 10 percentage points to the current 30-percent… Read More
Gov’t spending in E. Visayas up amid pandemic
May 10, 2021, 6:01 pm
TACLOBAN CITY – Government spending in Eastern Visayas reached PHP105.29 billion in 2020, higher by 9.5 percent the previous year, as more resources were poured to address the coronavirus disease 2019 (Covid-19) pandemic in the region. The Philippine Statistics Authority (PSA) reported on… Read More
Pump prices up for 4th straight week
May 10, 2021, 4:36 pm
MANILA – Oil companies have announced another hike in pump prices, marking the fourth consecutive week for an increase. Starting Tuesday morning, Cleanfuel, Petro Gazz, Seaoil, and Shell will hike diesel prices by PHP0.70 per liter, and gasoline by PHP0.75 per liter. Seaoil and Shell will also… Read More
PH backs global call for equitable distribution of Covid vaccines
May 10, 2021, 4:00 pm
MANILA – The Philippines has renewed its call for the just and equitable distribution of coronavirus disease 2019 (Covid-19) vaccines to ensure the access of lower-income and developing countries to these life-saving medical interventions amid the prolonged pandemic. Represented by Finance… Read More
Moody’s Analytics eyes 1.5% growth for PH economy in Q1
May 10, 2021, 3:56 pm
MANILA – The Philippine economy likely expanded by 1.5 percent in the first three months of 2021, Moody’s Analytics said. This projection is better than the domestic economy’s -8.3 percent output in the last quarter of last year. In a report dated May 7 released Monday, Moody’s Analytics… Read More
Covid vax plant in PH possible to rise in 10 months: ARTA
May 10, 2021, 3:54 pm
MANILA – As the government is putting up a green lane for manufacturers of the coronavirus disease 2019 (Covid-19) vaccines, the Anti-Red Tape Authority (ARTA) said this initiative will help pharmaceutical firms to set up a production facility in 10 months. ARTA, along with the Department of… Read More
MSMEs urged to protect intellectual property amid pandemic
May 9, 2021, 4:16 pm
MANILA – Micro, small and medium enterprises (MSMEs) with protected intellectual property (IP) and positive branding strategies have defied store closures and revenue losses that marked the first pandemic year, according to industry stakeholders. “Through e-commerce, MSMEs can reach out to… Read More
PH improves in Ease of Doing Business world report
May 8, 2021, 1:52 pm
MANILA – Doing business in the Philippines continue to improve, mainly due to the initiatives instituted by the Anti-Red Tape Authority (ARTA). During the agency’s Ease of Doing Business (EODB) Summit, titled “Forging Forward, Overcoming Adversity: Ease of Doing Business in the Time of… Read More
BSP 28-day securities rate slips anew
May 7, 2021, 7:29 pm
MANILA – High domestic liquidity situation continues to result to oversubscription in the Bangko Sentral ng Pilipinas’ (BSP) 28-day debt securities auction resulting in the drop in the paper’s interest rate. Data released by the central bank on Friday showed that average rate of the debt… Read More
PH stocks gauge slips, peso rises anew vs. US dollar
May 7, 2021, 6:02 pm
MANILA – The Philippine Stock Exchange index (PSEi) sustained its slide on Friday partly on the increases in jobs in the US last April but the peso strengthened further against the US dollar. The main equities index further fell by 0.38 percent, or 24.07 points, to 6,258.71 points. All Shares… Read More
Cebu airport operator inks financial relief deal with lenders
May 7, 2021, 4:39 pm
CEBU CITY – GMR-Megawide Cebu Airport Corp. (GMCAC), the private operator of the Mactan-Cebu International Airport (MCIA), has signed a deal with its lenders to relax agreements on its PHP23.9-billion debt used to develop, operate and maintain the country’s second-biggest airport, its parent… Read More
Victorias Milling logs growth amid Covid-19 pandemic
May 7, 2021, 1:40 pm
BACOLOD CITY – Negros Occidental-based sugar producer Victorias Milling Company (VMC) has reported growth amid the coronavirus disease 2019 (Covid-19) crisis with the implementation of sustainability programs that increased performance levels in its various business segments. VMC chairman Wilson… Read More
Stocks index slips anew; peso climbs to 47-level
May 6, 2021, 7:15 pm
MANILA – The local stock barometer slipped anew Thursday on investors’ preference for US assets while the peso registered its more than two-and-a-half-month high against the US dollar after closing at the 47-level, partly due to employment data improvement. The Philippine Stock Exchange index… Read More
Reopening of economy, infra spending to lift employment rate
May 6, 2021, 7:07 pm
MANILA – Reopening of the economy and increased infrastructure spending are expected to further boost the country’s employment figures, which registered better results as of March 2021. The Philippine Statistics Authority (PSA) on Thursday reported that unemployment rate went down from 8.8… Read More
BSP tightens bank employee screening policies
May 6, 2021, 6:51 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has adopted a more stringent and risk-focused screening policy for BSP supervised financial institutions (BSFIs) to ensure the banking sector’s integrity and improve operational risk management. In a virtual briefing Thursday, BSP Governor… Read More
Trade fair brings locally sourced Ilocos products in one shop
May 6, 2021, 6:16 pm
LAOAG CITY – About 37 home-grown entrepreneurs from various parts of Ilocos Norte showcased their creatively crafted handicrafts and other locally sourced products in a summer trade fair of the Department of Trade and Industry (DTI) held at the Robinsons Mall activity center in San Nicolas… Read More
