Business
NEDA: Gov't accelerates efforts to manage price increases
February 18, 2024, 5:30 pm
MANILA – The administration of President Ferdinand R. Marcos Jr. is ramping up efforts to manage price increases, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Sunday. He made the statement following the release of a recent OCTA survey results which… Read More
Record-high employment, lower inflation to boost growth in 2024
February 18, 2024, 2:25 pm
MANILA – Easing inflation and record-high employment rate will further boost consumer spending and help the Philippine economy grow at a faster pace this year. In the February issue of The Market Call released over the weekend, First Metro Investment Corporation (FMIC) and the University of Asia… Read More
Offshore wind contracts surpass current power generation capacity
February 16, 2024, 6:49 pm
MANILA – Department of Energy (DOE) Undersecretary Rowena Cristina Guevara said the total potential capacity of awarded service contracts (SCs) for offshore wind projects is already 180 percent of the current power generation in the country. During 7th The Everything Energy (TEE) forum organized… Read More
Last-minute profit-taking hits local shares, peso nearly flat
February 16, 2024, 6:48 pm
MANILA – The local stock market shed on last-minute profit-taking, while the peso ended sideways closing this week’s trading. The Philippine Stock Exchange index (PSEi) slipped 8.92 points, or 0.13 percent, to 6,873.23. All Shares also declined 3.88 points to 3,597.67 on Friday. “The local… Read More
Higher demand observed in the BSP bill auction
February 16, 2024, 6:39 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said total demand for its 28-day and 56-day debt papers increased to PHP148.55 billion. In a statement on Friday, the central bank said it continued to lower the total volume offering for the BSP bill auction to PHP110 billion, with the allocation… Read More
PH positions as shopping powerhouse in ASEAN
February 16, 2024, 5:00 pm
MANILA – A mall operator is positioning the Philippines as the next shopping hub in Southeast Asia as more luxury fashion brands become more interested in setting up shops in the country. Ayala Malls vice president Maria Aurora Legarda told reporters on Thursday that eight to 10 luxury brands,… Read More
PPP Code to expedite implementation process of infa projects
February 16, 2024, 4:59 pm
MANILA – The implementing rules and regulations (IRR) of the Public-Private Partnership (PPP) Code will help fast-track the approval and implementation of various infrastructure projects in the country, an economist said. "This would help expedite the evaluation, approval, and rollout process… Read More
PEZA backs creation of pharma ecozones
February 16, 2024, 5:50 am
MANILA – The Philippine Economic Zone Authority (PEZA) backs the proposal of President Ferdinand R. Marcos Jr. to establish pharmaceutical economic zones in the country. In a statement Friday, PEZA Director General Tereso Panga said he is optimistic about the rise of investments in medical and… Read More
Glorietta, Greenbelt 2, Trinoma renovation starts Q1 2024
February 15, 2024, 7:05 pm
MANILA – Mall goers may want to visit their favorite shops in flagship Ayala Malls before the shopping centers start partially closing in the first quarter of the year which will run for the next 12 to 24 months to undergo redevelopment projects. In a press event in Makati City Thursday, Ayala… Read More
BSP keeps policy rates unchanged
February 15, 2024, 6:14 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) kept policy rates steady for the third consecutive meeting, noting that while inflation conditions already improved, upside risks still remained. In a briefing on Thursday, BSP Senior Assistant Governor Iluminada Sicat said the Monetary Board of the… Read More
PH signs protocols to upgrade 2 regional FTAs
February 15, 2024, 3:30 pm
MANILA – The Philippines has signed two protocols agreeing to update two regional free trade agreements (FTAs) of the Association of Southeast Asian Nations (ASEAN). In a statement Thursday, the Department of Trade and Industry (DTI) said Secretary Alfredo Pascual signed the Second Protocol to… Read More
OFW remittances hit all-time high in 2023
February 15, 2024, 3:05 pm
MANILA – Personal remittances from Filipinos abroad reached an all-time high last year on the back of the increased deployment of overseas workers, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. Data from the BSP showed that personal remittances from overseas Filipino workers (OFWs)… Read More
PSEi gains ahead of policy meeting, peso depreciates
February 14, 2024, 7:46 pm
MANILA – The Philippine Stock Exchange index (PSEi) rallied for two straight days ahead of the Monetary Board's policy meeting, while the peso weakened against the US dollar. The local index increased on Wednesday by 26.61 points, closing at 6,854.53, with All Shares ending higher by 11.35… Read More
LandBank unveils time deposit supporting social, sustainable projects
February 14, 2024, 6:11 pm
MANILA – Land Bank of the Philippines (LANDBANK) said it is offering a new sustainable time deposit product that channels funding support for social and environmental initiatives, while providing customers a secure avenue for financial returns. In a statement on Wednesday, the bank said the… Read More
DOF eyes amending Privatization Council guidelines
February 14, 2024, 3:00 pm
MANILA – The Privatization Management Office (PMO), an attached agency of the Department of Finance, is eyeing to amend the guidelines of the Privatization Council (PrC) for the faster disposal of idle government assets. Finance Undersecretary for Privatization and Corporate Affairs group… Read More
Growing middle class to fuel PH household goods spending
February 14, 2024, 2:08 pm
MANILA – The growing population of the middle class in the country is expected to fuel growth in spending for household goods, while the rising income will bolster expenditure on leisure items, the BMI said in a commentary Wednesday. BMI, a unit of Fitch Solutions, said household goods spending… Read More
Gov't launches 30th tranche of Retail Treasury Bonds
February 13, 2024, 9:58 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday launched the 30th tranche of its Retail Treasury Bond (RTB 30), successfully raising more than PHP200 billion. The BTr successfully raised PHP212.7 billion from the offering. The coupon rate was set at 6.25 percent for the five-year security.… Read More
Western Visayas inflation rate continues downward trend
February 13, 2024, 8:48 pm
ILOILO CITY – The inflation rate in Western Visayas continued on a downward trend, registering 2 percent in January from 3.2 percent in December 2023, a report from the Philippine Statistics Authority (PSA) showed. The 2 percent rate is the lowest since November 2019, when the inflation rate… Read More
Economists: Review of PH targets not out of the ordinary
February 13, 2024, 8:34 pm
MANILA – Economists in the financial markets and academe said a review of macroeconomic growth targets under the government’s medium-term fiscal framework (MTFF) is not disconcerting and merely signals policy-makers’ openness to factor in more recent developments. They were reacting to… Read More
Upbeat net FDI inflows buoy local index, peso ends sideways
February 13, 2024, 7:45 pm
MANILA – The latest data on the country’s net foreign direct investment (FDI) inflows boosted the Philippine Stock Exchange index (PSEi) on Tuesday’s trading, while the peso closed sideways returning to 55-level. The benchmark PSEi increased by 20.10 points or 0.72 percent to 6,827.92, with… Read More
