Business
PH FDI seen to rise in H2 as global monetary policy eases
January 8, 2024, 7:16 pm
MANILA – The country’s foreign direct investment (FDI) is expected to rise by the second half of the year with the easing of monetary policy globally, a unit of Fitch Solutions said. In its commentary sent to media Monday, Fitch's BMI said attracting FDIs may start to improve in the coming… Read More
PSEi down on profit-taking, peso weak on Monday
January 8, 2024, 6:25 pm
MANILA – The local bourse shed on Monday on profit-taking, while the local currency closed weak at the start of the trading week. The Philippine Stock Exchange index (PSEi) finished the trading down by 20.42 points to 6,609.22, with All Shares also closing lower by 3.01 points to 3,499.51. Only… Read More
10-cent increase in oil prices set Jan. 9
January 8, 2024, 5:09 pm
MANILA – Following a rollback last week, pump prices are set to increase on Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil and Shell said they will increase gasoline and diesel prices by PHP0.10 per liter. Caltex, Seaoil and Shell will also add PHP0.10 per… Read More
BTr fully awards Treasury bills
January 8, 2024, 4:44 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 5.102 percent, 5.582 percent, and 5.973 percent, respectively. The average rates of 182- and 364-day T-bills were slightly higher than… Read More
Power firm supplies more electricity to off-grid areas
January 8, 2024, 4:39 pm
MANILA – In line with the administration’s goal of ensuring a stable supply of electricity across the country, listed power generation firm DMCI Power Corp. (DPC) supplied more electricity to off-grid areas in 2023. In a disclosure to the Philippine Stock Exchange (PSE) Monday, its parent… Read More
Diokno: PH's robust economic growth to continue in 2024
January 8, 2024, 4:22 pm
MANILA – Philippine economic growth is expected to remain robust this year mainly driven by private consumption and the continued implementation of structural reforms, Finance Secretary Benjamin Diokno said on Monday. "While multilateral organizations project a slower global outlook for 2024 at… Read More
Dividends from GOCCs up by 46% in 2023
January 8, 2024, 4:19 pm
MANILA – The Finance department's Privatization and Corporate Affairs Group collected a total of PHP99.98 billion in dividends from government-owned or -controlled corporations (GOCCs) last year. In a statement on Monday, the Department of Finance (DOF) said this was higher by 46 percent… Read More
House pursues programs to continue bringing down inflation
January 7, 2024, 4:06 pm
MANILA – The reported decline in inflation meant that the intervention programs implemented by the administration of President Frerdinand Marcos Jr. in the last quarter of 2023 have yielded positive results, according to House Speaker Ferdinand Martin Romualdez on Sunday. To further bring down… Read More
DTI: Small percentage of basic goods to increase SRPs
January 7, 2024, 3:32 pm
MANILA – The Department of Trade and Industry (DTI) has concurred with the request of some manufacturers to increase suggested retail prices (SRPs) of products under basic necessities and prime commodities (BNPC). DTI Assistant Secretary Amanda Marie Nograles told trade reporters over the… Read More
PH surpasses Malaysia, Thailand in net foreign direct investment
January 7, 2024, 1:21 pm
MANILA – The Philippines has surpassed the net foreign direct investment (FDI) inflows of Malaysia and Thailand in the first three quarters of 2023, Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said. In a press chat with trade reporters Friday, Rodolfo said the… Read More
Local stock market up as inflation further eases, peso ends sideways
January 5, 2024, 7:30 pm
MANILA – The local stock market ended the last trading day of the week above the 6,600 level, boosted by the better-than-expected December 2023 inflation data, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) and All Shares both gained, the former with 27.12 points to… Read More
BSP to impose check clearing, settlement reforms
January 5, 2024, 4:46 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has issued amendments to the regulations on the return of banks’ bounced checks, and on the rollout of the Intraday Settlement Facility (ISF). The BSP issued the circular containing the amendments to the check clearing and settlement regulations… Read More
Global economic growth estimated to slow to 2.4% in 2024 - UN report
January 5, 2024, 4:38 pm
WASHINGTON – Global economic growth is projected to decline from an estimated 2.7 percent in 2023 to 2.4 percent in 2024, according to a UN report released Thursday. The World Economic Situation and Prospects report said growth is forecast to improve moderately to 2.7 percent in 2025 but will… Read More
DOE wants NGCP's system operator function stripped off
January 5, 2024, 4:06 pm Updated on January 5, 2024, 5:23 pm
MANILA – Department of Energy (DOE) Secretary Raphael Lotilla on Friday reiterated the agency’s support to revisit the franchise of the National Grid Corporation of the Philippines (NGCP), following the three-day power outage in Western Visayas that started on Jan. 2. In a press conference in… Read More
Inflation falls to 22-month low in December 2023
January 5, 2024, 12:58 pm
MANILA – Headline inflation further eased to 3.9 percent in December last year, the lowest recorded since the 3 percent seen in February 2022. In a briefing on Friday, National Statistician Dennis Mapa said the headline inflation last month was lower than the 4.1 percent in November 2023, and… Read More
BSP developing foreign exchange intervention framework
January 4, 2024, 8:10 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said Thursday the central bank would develop this year a foreign exchange (FX) intervention framework. "We're developing a framework for intervention. We think intervention should only happen during times of stress. It's meant… Read More
PSEi breaches 6,600 mark ahead of inflation data, peso ends sideways
January 4, 2024, 7:50 pm
MANILA – The Philippine Stock Exchange index (PSEi) exceeded the 6,600 level on Thursday, while the peso closed sideways ahead of the inflation report. The PSEi surged by 103.64 points to 6,602.52, with All Shares increasing by 35.52 points to 3,485.76. "The index surged above the 6,600 level… Read More
Maharlika head identifies sectors for possible investments
January 4, 2024, 6:14 pm
MANILA – The Maharlika Investment Corp. (MIC), which will govern the Maharlika Investment Fund (MIF), discussed the fund's capitalization and potential sectors for investment during its first board meeting on Wednesday. In a statement on Thursday, the Department of Finance (DOF) said that during… Read More
CREATE law attracts more than P1-T investments
January 4, 2024, 4:10 pm
MANILA – More than 900 projects with total investments of PHP1.02 trillion have so far been approved under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act as of end-October last year, the Department of Finance (DOF) said on Thursday. In a Facebook post, the DOF said a… Read More
Meralco procures 660-MW power supply for dry season
January 4, 2024, 1:54 pm
MANILA – In preparation for higher electricity demand during the dry season, the Manila Electric Company (Meralco) has started the Competitive Selection Process (CSP) for the 660 megawatts (MW) interim power supply. Meralco said Thursday that it has opened the bidding for the 660-MW power… Read More
