Business
Gradual reopening of economy, reforms, keys to boosting trade
November 5, 2020, 3:27 pm
MANILA – The significant improvement in the country’s trade performance in September 2020 suggests that the country’s approach to gradually reopen the economy, along with the strict observance of health protocols, puts us on the right track towards economic recovery, the National Economic… Read More
Cement market seen to bounce back in 2021
November 5, 2020, 2:17 pm
MANILA – The local cement market is expected to return to its 2019 levels by next year after contracting this year due to impacts of the coronavirus disease 2019 (Covid-19) pandemic. Republic Cement president and chief executive officer Nabil Francis said the cement market is seen to decline by… Read More
Local IT-BPM workforce to remain stable amid pandemic
November 5, 2020, 1:27 pm
MANILA – Labor force requirement of the information technology and business process outsourcing (IT-BPM) sector in the country will remain stable amid the global health crisis, an industry executive said. IT and Business Process Association of the Philippines (IBPAP) president and chief… Read More
October inflation uptick within expectations: BSP
November 5, 2020, 1:23 pm
MANILA –The rate of price increases in the Philippines posted an uptick in October 2020 to 2.5 percent from the previous month’s 2.3 percent, but Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said this is within their expectations. In a Viber message to journalists Thursday,… Read More
Inflation rate slightly up to 2.5% in October
November 5, 2020, 12:23 pm
MANILA – The country’s inflation rate increased slightly to 2.5 percent in October from the previous month’s 2.3 percent due mainly to higher food prices, the Philippine Statistics Authority (PSA) reported on Thursday. The average price increase of basic goods and services for the first 10… Read More
SM net income hits P15-B in 9 months
November 4, 2020, 9:06 pm
MANILA – SM Investments Corporation (SMIC) on Wednesday reported its consolidated net income at PHP15.2 billion in the January to September period, lower by 54 percent from PHP33.1 billion year-on-year. Consolidated revenues for the nine-month period ending September stood at PHP286.7 billion,… Read More
PH records 1st exports growth in 6 months
November 4, 2020, 8:54 pm
MANILA – The country recorded its first exports growth since the onset of the coronavirus disease (Covid-19) in March. Data from the Philippine Statistics Authority (PSA) reported that export revenues in September increased by 2.2 percent to USD6.22 billion this year from USD6.1 billion in… Read More
MPIC’s core net income falls 38% to P7.7-B in 9 months
November 4, 2020, 8:40 pm
MANILA – Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) booked a 38-percent decline in profit in the first nine months of the year as the coronavirus movement restrictions affected its transportation and transportation-related businesses. MPIC reported Wednesday its core net… Read More
Strong demand seen for 2nd Premyo bond issuance
November 4, 2020, 8:10 pm
MANILA – National Treasurer Rosalia de Leon is hopeful that investors of the first Premyo bond issuance will still avail of the second issuance that will be launched this Nov. 11. The minimum target for the second issuance is PHP3 billion, the same as the first one, and de Leon expects this… Read More
PH economy on path to recovery: DTI chief
November 4, 2020, 8:07 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez on Wednesday said that economic recovery is generally on the right path despite the decline in manufacturing purchasing managers’ index (PMI) in October. Lopez said the slowdown in manufacturing activities last month… Read More
BSP term deposit facility rates sustain rise
November 4, 2020, 8:04 pm
MANILA – Demand for Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) remains high, resulting in the upticks in the interest rate but preference for the shorter tenor weakened. Data released by the central bank showed that the average rate of the seven-day facility rose to 1.9540… Read More
Stocks end up, peso sideways
November 4, 2020, 5:59 pm
MANILA – The local stock barometer ended Wednesday’s trading on a positive note due to optimism about the results of the US elections, while the peso closed almost unchanged on risk-on sentiments. The Philippine Stock Exchange index (PSEi) gained 2.03 percent, or 128.49 points, to 6,464.05… Read More
3-year T-bond rate rises
November 4, 2020, 5:14 pm
MANILA – Strong demand for three-year Treasury bonds (T-bond) pushed their interest rate up Wednesday. The average rate of the debt paper increased to 2.224 percent from 2.182 percent during the auction of the same tenor last Oct. 6. The Bureau of the Treasury (BTr) offered the securities… Read More
No major impact on Luzon power supply as Malampaya goes offline
November 4, 2020, 3:48 pm
MANILA – The Department of Energy (DOE) said it sees no major impact on the power supply in Luzon while the Malampaya gas field will undergo a scheduled maintenance shutdown from Nov. 14 to 27. In an online media briefing Wednesday, DOE Assistant Secretary Redentor Delola said the power supply… Read More
Century Pacific double-digit growth trend continues in Q3
November 3, 2020, 8:08 pm
MANILA – Century Pacific Food, Inc. (CNPF), one of the Philippines’ largest food companies, continued its double-digit growth trend in the third quarter of the year as its net income rose by 15 percent, driven primarily by higher revenues of its branded business. The branded business,… Read More
PH eyes P6-T borrowing to support economic recovery
November 3, 2020, 7:49 pm
MANILA – The government is keen on borrowing PHP3 trillion each in 2020 and 2021 to help boost funds for economic recovery, even as the main revenue-generating agencies have been posting upticks in their collections. In a Viber message, National Treasurer Rosalia de Leon said the borrowing… Read More
‘Good signs’ for Western Visayas economic recovery
November 3, 2020, 6:03 pm
BACOLOD CITY – A business leader in Negros Occidental said signals are good for Western Visayas as the region is on its way to economic recovery following the coronavirus disease 2019 (Covid-19) crisis. Frank Carbon, chief executive officer of Metro Bacolod Chamber of Commerce and Industry… Read More
Stocks, peso end trading on positive note ahead of US polls
November 3, 2020, 6:00 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose Tuesday while the peso ended the day sideways against the US dollar as positive appetite ahead of the Nov. 3 US polls reigned. The main equities index rose by 0.18 percent, or 11.56 points, to 6,335.56 points. All Shares increased by… Read More
Protracted recovery seen in PH manufacturing
November 3, 2020, 4:32 pm
MANILA – IHS Markit sees protracted recovery for the Philippine manufacturing sector as the purchasing managers' index (PMI) fell in October. The country's manufacturing PMI last month dropped to 48.1, below the neutral score of 50. In September, local manufacturing activity scored 50.1 after… Read More
T-bill rates decline as inflation remains benign
November 3, 2020, 4:22 pm
MANILA – The rates of Treasury bills (T-bills) declined across-the-board Tuesday due to expectations of continued benign domestic inflation rate. The rate of the 91-day paper slipped to 1.058 percent, the 182-day to 1.499 percent, and the 364-day to 1.759 percent. These were at 1.079 percent,… Read More
