Business
BSP term deposit facility rates decline anew
July 1, 2020, 7:11 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) resumed Wednesday the auction for the 28-day term deposit facility (TDF) and its rate, along with that of the seven- and 14-day facilities, declined as demand remained strong. Data released by the central bank showed that the average rate of the… Read More
PH needs 760-MW renewable energy projects annually until 2030
July 1, 2020, 6:58 pm
MANILA – Investors in the renewable energy sector are urged to look into opportunities in the Philippines as the country targets to achieve the 15,304-megawatt (MW) renewable capacity by 2030. During the German Energy Week online forum of the German-Philippine Chamber of Commerce and Industry… Read More
BSP debt instrument to serve as add'l benchmark
July 1, 2020, 6:52 pm
MANILA – Market players will get additional options for risk-free securities with the planned debt papers issuance by the Bangko Sentral ng Pilipinas (BSP) within the third quarter this year. During the memorandum of agreement (MOA) signing between the BSP and the Bureau of the Treasury (BTr)… Read More
Peso, stocks end sideways
July 1, 2020, 6:46 pm
MANILA – Both the peso and main equities index ended sideways Wednesday on optimism that economies will regain footing from the effects of the pandemic. The Philippine Stock Exchange index (PSEi) rose for the second consecutive day with an uptick of 0.03 percent, or 1.99 points, to 6,209.71… Read More
Construction of Sonora Garden Residences resumes: DMCI
July 1, 2020, 4:04 pm
MANILA – The construction of Sonora Garden Residences, the joint venture project of Robinsons Land Corporation (RLC) and DMCI Homes in Las Piñas City, had resumed following the easing of community quarantine measures in Metro Manila. "Construction of Sonora Garden Residences is moving forward,… Read More
PH manufacturing conditions near stability: IHS survey
July 1, 2020, 3:20 pm
MANILA – As the government has eased quarantine measures in June, the country’s manufacturing sector is recovering close to stable condition, the Philippines Manufacturing Purchasing Managers’ Index (PMI) survey of IHS Markit reported. In its PMI report released Wednesday, the country’s… Read More
APEC to boost supply chains, promote digitalization
July 1, 2020, 1:54 pm
JAKARTA – APEC member economies have committed to strengthening supply chains, removing business uncertainties, and promoting the digital economy to fast-track recovery from the economic crisis caused by the coronavirus disease 2019 (Covid-19) pandemic. The commitment was made during a virtual… Read More
LPG prices up in July
July 1, 2020, 11:09 am
MANILA – The prices of liquefied petroleum gas (LPG) have increased for July, effective Wednesday. In separate advisories, Petron and Phoenix LPG adjusted the price of their 11-kg. LPG cylinder by PHP0.50 per kg. They also implemented an increment of PHP0.30 per liter on the prices of AutoLPG.… Read More
LT Group: guarded outlook for 2020 due to Covid-19
July 1, 2020, 8:47 am
MANILA – The conglomerate LT Group, Inc. (LTG) is keeping a “guarded outlook” for this year due to the projected lingering effects of the coronavirus disease 2019 (Covid-19) pandemic. In a statement, LTG president Michael Tan said he hopes LTG’s strong 2019 results would give the… Read More
Bank exec cites importance of stable business
June 30, 2020, 9:43 pm
MANILA – Being stable allows any company to face the effects of the coronavirus disease (Covid-19), a bank executive said on Tuesday. During a virtual annual stockholders meeting, Asia United Bank (AUB) chairman and director Abraham Co said the physical distancing policy of the government is a… Read More
SEC urges social bonds to support recovery from pandemic
June 30, 2020, 9:40 pm
MANILA – The Securities and Exchange Commission (SEC) has put forward the issuance of social bonds to support efforts to contain the coronavirus disease 2019 (Covid-19) pandemic, manage the resulting socioeconomic impacts and build resilience to future shocks. In a statement Tuesday, the… Read More
Century Pacific Food eyes doubling business growth in 5 years
June 30, 2020, 9:32 pm
MANILA – Food canning giant Century Pacific Food Inc. (CNPF) expects to sustain doubling the size of its business over the next five years even amid the coronavirus disease (Covid-19) pandemic that increased demand of its food products. “We look forward to once again doubling our business over… Read More
Stocks rally over 100 points; peso almost unchanged
June 30, 2020, 7:24 pm
MANILA – The main stocks index ended on a positive note Tuesday following a Wall Street rally, while the peso closed almost unchanged. The Philippine Stock Exchange index (PSEi) rose 1.68 percent, or 102.54 points, to 6,207.72 points. All Shares followed with an uptick of 1.34 percent, or… Read More
New Clark City to address gaps in healthcare facilities
June 30, 2020, 6:56 pm
MANILA – The New Clark City project of the Bases Conversion and Development Authority (BCDA) is not only eyed to be the country’s first smart city but it is also planned to address gaps in healthcare facilities amid the coronavirus disease (Covid-19) pandemic. During the Urban Land Institute… Read More
35-day T-bill rate declines
June 30, 2020, 6:37 pm
MANILA – The rate of the Philippines’ 35-day Treasury bill (T-bill) declined Tuesday, which National Treasurer Rosalia de Leon attributed to the 50 basis points surprise cut in Bangko Sentral ng Pilipinas’ (BSP) key rates last week. The debt paper’s average rate went down to 1.684 percent… Read More
BSP projects June inflation to stay at 1.9% to 2.7%
June 30, 2020, 4:58 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has forecast June’s inflation rate to range from 1.9 percent to 2.7 percent. In a Viber message to journalists on Tuesday, BSP Governor Benjamin Diokno said upside risks to the rate of price increases in the sixth month of the year are the… Read More
DTI encourages Filipinos to support ‘BUYani’ drive
June 30, 2020, 3:49 pm
MANILA – As the saying goes, not all heroes wear capes so Filipinos are encouraged to be a hero to local entrepreneurs by buying and patronizing local products. Department of Trade and Industry (DTI) Undersecretary and chief-of-staff Ireneo Vizmonte said Tuesday the department’s Buy Local, Go… Read More
BSP chief cites reforms in ICT infra to help post-Covid programs
June 30, 2020, 7:59 am
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno highlighted the need for reforms in the country’s information and communication technology (ICT) infrastructure to help in the government’s post-Covid-19 programs. In a speech during the Manila Times online forum Monday,… Read More
OFBank targets 2K daily account openings once lockdown eases
June 29, 2020, 9:44 pm
MANILA – Overseas Filipino Bank (OFBank) targets to attract about 2,000 account openings daily once lockdowns around the world are eased and deployment resumes strongly. The digital-only state-owned bank was formally launched Monday through its Facebook page (@OFBank), the Facebook page of its… Read More
ALI raises P10-B from fixed-rate bonds
June 29, 2020, 9:40 pm
MANILA – Property developer Ayala Land Inc. (ALI) has raised PHP10-billion fixed-rate bonds, making it the first non-bank corporate to issue bonds in the local market since the country was placed under community quarantine. The bond due 2022 with a coupon rate of 3.00 percent per annum was… Read More
