Business
Local index improves on bargain hunting, peso on sideways
April 18, 2024, 8:34 pm
MANILA – The local index has improved for two days in a row, with gains on Thursday lifting the bourse to 6,500-level, while the peso closed sideways. The benchmark Philippine Stock Exchange index (PSEi) increased by 1.13 percent to 6,523.19, while the broader All Shares grew by 0.77 percent to… Read More
Maharlika Investment Corp. releases new logo
April 18, 2024, 7:30 pm
MANILA – The Maharlika Investment Corp. (MIC) on Thursday unveiled its new logo inspired by the Philippine Eagle. In a statement, the MIC said the new logo embodies the strength, focus, and enduring power necessary to elevate the country. It said the design reflects the sovereign wealth fund's… Read More
PGH's Cancer Center Project's revised cost up for NEDA Board approval
April 18, 2024, 6:25 pm
MANILA – Changes to the project cost, revised parameters, and terms and conditions of the Cancer Center Project of the University of the Philippines-Philippine General Hospital (UP-PGH) Manila will be up for the National Economic and Development Authority (NEDA) Board's approval on April 25.… Read More
Japan’s Nitori opens 1st PH store after investment pledge to PBBM
April 18, 2024, 5:55 pm
MANILA – Another investment commitment to President Ferdinand R. Marcos Jr. during his official foreign trip was realized after Japanese furniture and home accessories retail company Nitori Co., Ltd opened its first store in the country on Thursday. Department of Trade and Industry (DTI)… Read More
NEDA: PH implementing reforms to improve business climate
April 18, 2024, 3:48 pm
MANILA – The National Economic and Development Authority (NEDA) said on Thursday, Secretary Arsenio Balisacan has urged businesses in the United States to invest in the Philippines, noting that the government has implemented several reforms to improve the country's investment climate. During the… Read More
DTI, Jollibee partner to train MSMEs
April 18, 2024, 3:47 pm
MANILA – The Department of Trade and Industry (DTI) has partnered with Jollibee Foods Corporation (JFC) and Jollibee Group Foundation (JGF) to develop Filipino micro, small, and medium enterprises (MSMEs). In a statement Thursday, the DTI said this partnership came into force with the signing of… Read More
Recto presides over G-24 Ministerial Meeting
April 18, 2024, 12:25 pm
MANILA – Department of Finance (DOF) Secretary Ralph Recto presided over the Intergovernmental Group of Twenty-Four (G-24) on April 16 as Chair of the Board of Governors where he called upon the international financial institutions to ramp up support for developing countries. In a statement on… Read More
NGCP: Red, yellow alert up in Luzon, Visayas grids
April 18, 2024, 10:19 am
MANILA – The Luzon and Visayas grids were placed under alert status for the third consecutive day on Thursday, due to thin power supply. The National Grid Corporation of the Philippines (NGCP) put the Luzon grid under red alert status from 3 to 4 p.m. and 8 to 10 p.m. Yellow alert status in the… Read More
Bargain hunting snaps PSEi 9-day losing streak; peso weakens
April 17, 2024, 7:01 pm
MANILA – The local bourse snapped its nine-day losing streak on bargain hunting and higher gross domestic product (GDP) growth forecast for the Philippines this year, while the peso continued to trade at the 57-level. The Philippine Stock Exchange index (PSEi) gained 45.07 points, or 0.70… Read More
Mimaropa posts moderately higher inflation in March
April 17, 2024, 5:55 pm
MANILA – Headline inflation in the Mimaropa region was moderately higher in March compared to the previous month, due mainly to an uptick in the food and non-alcoholic beverages segment, according to the Philippine Statistics Authority (PSA). In a media release on Wednesday, PSA-Mimaropa… Read More
Meralco exceeds 2023 peak demand on April 15
April 17, 2024, 5:13 pm
MANILA – Peak demand for electricity is usually expected in the second week of May, but the maximum electricity demand in 2023 was already surpassed last Monday, an executive from Manila Electric Company (Meralco) said. In a briefing in its headquarters in Pasig City on Wednesday, Meralco head… Read More
UN body revises world GDP forecast upwards
April 17, 2024, 4:24 pm
ISTANBUL – The United Nations Conference on Trade and Development (UNCTAD) has revised its world GDP (gross domestic product) forecast upwards from 2.5 percent to 2.7 percent for 2023 and from 2.5 percent to 2.6 percent for 2024. "The risks that threatened to substantially slow down global… Read More
DTI: Electronics, semiconductor exports recovering in 2024
April 17, 2024, 3:02 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the country’s electronics and semiconductor export is recovering this year after the double-digit growth in export revenues in February. Citing preliminary data from the Philippine Statistics Authority (PSA), the… Read More
BSP: Peso not performing poorly
April 17, 2024, 3:01 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the peso's performance lately could not be categorized as poor, adding that the local currency is only adjusting to recent developments in the Middle East and announcements on Federal Reserve's possible delayed interest… Read More
2 firms eye Islamic banking operations in PH
April 17, 2024, 2:30 pm
MANILA – Maybank Philippines and a foreign company plan to establish Islamic banking operations in the country, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday. In a briefing at the BSP Office in Manila, BSP Assistant Governor for Financial Supervision Sub-sector 3 Arifa Ala said Maybank… Read More
Filinvest REIT rides on strong PH tourism sector
April 17, 2024, 2:06 pm
MANILA – Filinvest REIT Corp. (FILRT), a real estate investment trust (REIT) backed by Filinvest Land, Inc., is riding on the Philippines’ strong tourism sector as it aims to diversify its properties from office buildings to hospitality and leisure spaces after it acquired a property in… Read More
PSEi shedding longest in 8 years; peso closes at 57
April 16, 2024, 6:56 pm
MANILA – Investors were concerned about the increasing tension in the Middle East and the upside risks to inflation, bringing the local bourse to its longest losing streak in eight years. Meanwhile, the Philippine peso finished at the 57-level on Tuesday. The Philippine Stock Exchange index… Read More
BTr rejects bids for T-bonds
April 16, 2024, 5:05 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully rejected bids for the re-issued 20-year Treasury bonds (T-bonds). With a remaining term of 14 years and nine months, the average rate for the re-issued T-bonds reached 6.987 percent had it been awarded. The comparable 15-year PHP… Read More
DOE on red, yellow alerts: Extreme heat affected power plant ops
April 16, 2024, 5:02 pm
MANILA – The Department of Energy (DOE) said the “extremely high temperatures” this day affected the operations of power plants, with 31 power generation facilities going down as of Tuesday, prompting red and yellow alerts in the Luzon grid and a yellow alert in the Visayas grid. In a… Read More
Gold bar auction to resume after 11 years of suspension
April 16, 2024, 3:17 pm
HÀ NỘI – The State Bank of Việt Nam will resume gold bar auctions in an effort to improve supply to the market after 11 years of suspension. A representative of the SBV said on Monday that preparations for gold bar auctioning are being completed. The SBV will send notice about detailed… Read More
