Business
Oil prices up amid negotiations for Gaza ceasefire, Israeli assault
May 7, 2024, 9:14 pm
ISTANBUL – Oil prices rose on Tuesday amid ongoing ceasefire negotiations in Gaza and the Israeli military’s assault on the Palestinian side of the Rafah border crossing. International benchmark Brent crude traded at USD83.42 per barrel at 10:28 a.m. local time (0728GMT), an increase of 1.32… Read More
Shares fall on slightly higher inflation, peso flat
May 7, 2024, 8:32 pm
MANILA – The local stock barometer fell on Tuesday following the uptick in the inflation rate for April while the peso closed flat against the US dollar. The benchmark Philippine Stock Exchange index (PSEi) declined by 0.51 percent, or 33.91 points, to 6,618.58, while the broader All Shares… Read More
Aboitiz unit investing P7-B for Tarlac ecozone
May 7, 2024, 8:25 pm
TARLAC CITY – Aboitiz InfraCapital (AIC) is investing PHP7 billion for the TARI Estate in this city, an economic zone development registered with the Philippine Economic Zone Authority (PEZA). In a press conference here Tuesday, LIMA Land, Inc. president and Aboitiz InfraCapital Economic… Read More
BTr awards reissued T-bonds in full
May 7, 2024, 7:53 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued PHP10-billion treasury bonds (T-bonds) at an average yield of 6.825 percent on Tuesday’s auction. In a statement, the Auction Committee said the debt paper was 2.4 times oversubscribed as tenders reached PHP71.2 billion,… Read More
Bitcoin climbs above $65,000 after 2 weeks
May 7, 2024, 5:04 pm
ISTANBUL – Bitcoin on Monday climbed above the USD65,000 level for the first time in more than two weeks. The last time the world's biggest cryptocurrency was above that level was recorded on April 25. After climbing above the level early Monday, Bitcoin was trading around USD64,100 as of… Read More
Alveo Land posts P12.7-B sales in Q1, sees sustained growth
May 7, 2024, 4:52 pm
MANILA — Ayala Land's upscale property developer Alveo Land said gross take-up for the first quarter of the year hit a record-high of PHP12.7 billion, as it expects growth to continue despite the high-interest rates. In a briefing in Makati City on Tuesday, Alveo Land president Joseph… Read More
LandBank net income up 11% in Q1
May 7, 2024, 4:03 pm
MANILA — State-run Land Bank of the Philippines (LandBank) said its net income rose by 11 percent in the first quarter of the year on the back of increased interest income from loans. In a statement on Tuesday, LandBank said net income during the period amounted to PHP12 billion from PHP10.8… Read More
DOF: OPEC Fund to support PH government's priority projects
May 7, 2024, 3:48 pm
MANILA – The OPEC Fund for International Development (OPEC Fund) will provide technical assistance to the Philippine government in addressing right-of-way (ROW) acquisition issues for the faster implementation of big-ticket infrastructure projects. In a statement on Tuesday, the Department of… Read More
US firms diversifying supply chain benefits PH: DTI
May 7, 2024, 3:16 pm
TARLAC CITY — Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the Philippines is benefitting from the policy of the United States government urging their companies to diversify their supply chain outside China. “They (US firms) are exploring (the) Philippines as (an)… Read More
Inflation rate slightly up 3.8% in April
May 7, 2024, 2:02 pm
MANILA – Headline inflation settled at 3.8 percent in April this year, significantly lower than the 6.6 percent recorded in the same month last year, the Philippine Statistics Authority (PSA) said on Tuesday. The headline inflation last month was within the government's 2 to 4 percent target,… Read More
DTI chief: PH-EU FTA negotiations could be fast-tracked
May 6, 2024, 8:20 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual is optimistic that the negotiations for the Philippines-European Union Free Trade Agreement (PH-EU FTA) could be fast-tracked given the speed of the previous trade deal of the country with European countries. During the… Read More
PH largest coal miner grows exports by 78% in Q1 2024
May 6, 2024, 8:18 pm
MANILA – Coal exports from the country’s largest coal producer, Semirara Mining and Power Corp. (SMPC), surged by 78 percent in the first quarter (Q1) of the year compared to the same period in 2023. SMPC held its annual stockholders’ meeting Monday, reporting its performance from January to… Read More
Conwep, Luenthai hopeful to rebound in 2024 after retrenchment
May 6, 2024, 6:05 pm
MANILA – The Confederation of Wearable Exporters of the Philippines (Conwep) and apparel manufacturer Luenthai are optimistic to rebound before 2024 ends or by the early part of 2025, following the latter’s recent retrenchment. In a virtual briefing Monday, Conwep executive director Maritess… Read More
BTr fully awards Treasury bills
May 6, 2024, 5:27 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded bids for Treasury bills (T-bills) during Monday's auction. The 91-, 182-, and 364-day T-bills fetched average rates of 5.780 percent, 5.930 percent, and 6.056 percent, respectively, ending lower from the previous auction and prevailing… Read More
BSP likely to maintain policy rates during next meeting
May 6, 2024, 3:16 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) will likely keep policy rates unchanged at its next meeting as headline inflation is expected to remain elevated. BSP Governor Eli Remolona Jr. said on Monday "there's still a leeway" to maintain policy rates at 6.5 percent. "We're still hawkish.… Read More
Revenue collections hit P1.4 trillion as of end-April
May 6, 2024, 2:56 pm
MANILA – The government's revenue collections has so far reached more than PHP1.4 trillion as of end-April this year, Finance Secretary Ralph Recto said on Monday. The end-April preliminary data was higher than the PHP1.3 trillion revenue collections recorded from January to April last year. In… Read More
Firms to implement oil price rollback May 7
May 6, 2024, 2:54 pm
MANILA – Motorists and consumers can expect lower oil prices this week as companies will implement rollbacks starting Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil and Shell said they will slash gasoline prices by PHP0.75 per liter and diesel prices by PHP0.90 per… Read More
Dividends from GOCCs to reach P100B in 2024
May 6, 2024, 2:53 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto said he expects dividend collections from government-owned- or controlled corporations (GOCCs) to reach PHP100 billion this year. "We anticipate the total to reach PHP100 billion by year-end," Recto said during the GOCC Day held at the… Read More
EJAP, BCDA forum to tackle investment opportunities in Clark
May 6, 2024, 12:05 am
MANILA – The Economic Journalists Association of the Philippines (EJAP) and the Bases Conversion and Development Authority (BCDA) will host a forum to highlight investment opportunities in Clark.For the first time, EJAP and BCDA will partner to host the One Clark Forum at New Clark City… Read More
BSP survey shows higher agri loans and services in 2022
May 3, 2024, 8:44 pm
MANILA – The share of agriculture loans and services went up to 18.1 percent in 2022 from 17.6 percent in 2021, results of a survey released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed. The 2022 Countryside Bank Survey (CBS) report showed that the increase was mainly observed in… Read More
