Business
PH household spending likely to grow by over 6% in 2024
November 6, 2023, 2:29 pm
MANILA – Household spending is projected to rise by over 6 percent next year, as economic growth persists and consumption levels normalize, according to BMI Country Risk and Industry Research. In a report released on Monday, the Fitch group subsidiary said household spending is forecast to grow… Read More
Industry leaders count on Laurel’s experience to solve agri problems
November 5, 2023, 3:16 pm
MANILA – Newly-appointed Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr.’s deep understanding of the fisheries sector and food processing would give him a different take on how to resolve food security, exports and other agricultural problems, according to an agricultural… Read More
World food prices fall at softer pace in October
November 4, 2023, 1:11 pm
ANKARA – The UN Food and Agriculture Organization (FAO) reported on Friday that global food prices have dropped for a third consecutive month in October, although at a slower pace. The FAO Food Price Index averaged 120.3 points in October, reflecting a decrease of 0.5 percent from the previous… Read More
DBCC: Total revenue collection to exceed target
November 3, 2023, 9:38 pm
MANILA – The national government's revenue performance is expected to exceed the PHP3.73 trillion target for this year, the inter-agency Development Budget Coordination Committee (DBCC) said. In a joint statement issued following a special meeting on Friday, the DBCC said the emerging total… Read More
Peso touches 55-level, shares up on less hawkish Fed statement
November 3, 2023, 8:27 pm
MANILA – Philippine peso kicked off November touching the 55-level during Friday's trading while local shares also gained. Peso strengthened by 0.63 versus the US dollar to close the day at 56.1 from Tuesday’s finish of 56.73. It opened the day stronger at 56.60 from previous trading’s kick… Read More
PH bags PHP20.6-B investment prospects in Taiwan mission
November 3, 2023, 7:13 pm
MANILA – The five-day investment mission of Philippine Economic Zone Authority (PEZA) with the Philippine Trade and Investment Center-Taipei (PTIC) in Taiwan has secured PHP20.6 billion worth of investment leads for the country. PEZA said in a statement Friday these prospective projects came… Read More
Agro-industrial leaders urges new Agri chief to address key issues
November 3, 2023, 5:05 pm
MANILA – Leaders of the agro-industrial sector on Friday welcomed the appointment of a full-time Department of Agriculture secretary, and urged Secretary Francisco Laurel Jr. to look into several key areas as part of getting the country in gear for higher agricultural productivity. In an… Read More
Foreign pledges lift BOI’s 10-month approval to over P1T
November 3, 2023, 2:45 pm
MANILA – Investment pledges from foreign sources lifted the approvals at the Board of Investments (BOI), the country’s leading investment promotion agency (IPA), in the first 10 months of the year. In a statement Friday, the BOI said foreign investment approvals surged by 567 percent to… Read More
Inflation likely down in October
November 3, 2023, 2:41 pm
MANILA – Headline inflation likely decelerated last month from 6.1 percent in September, an economist said on Friday. "We see inflation at 5.4 percent [in October]," ING economist Nicholas Mapa said. Mapa's inflation settles within the Bangko Sentral ng Pilipinas’ (BSP) 5.1 to 5.9 percent… Read More
Retailers anticipate slower inflation in October
November 2, 2023, 7:24 pm
MANILA – The leadership of the Philippine Amalgamated Supermarkets Association (PAGASA) has said October’s inflation numbers are likely to show a decline amid government interventions and consumers’ growing intolerance to further price increases. In an interview on Thursday, PAGASA… Read More
NEDA: Gov't remains committed to reducing poverty
November 2, 2023, 5:58 pm
MANILA – The government is implementing several measures to reduce poverty incidence among Filipinos to 9 percent by 2028, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Thursday. Malacañang, citing a statement issued by NEDA, said the Marcos… Read More
Economist sees further decline in unemployment rate
November 2, 2023, 2:50 pm
MANILA – The country's unemployment rate will likely continue to go down in the remaining months of the year as the demand for the Christmas season will help create more employment, an economist said on Thursday. "Unemployment rate is expected to seasonally ease further towards the Christmas… Read More
General retail price index in NCR slows in September
November 1, 2023, 3:07 pm
MANILA – The annual rate of the general retail price index (GRPI) in the National Capital Region (NCR) slowed to 3.6 percent in September from 3.9 percent in August. Data released by the Philippine Statistics Authority (PSA) late Tuesday showed that it was also lower than the 5.9 percent… Read More
LPG prices up anew in November
November 1, 2023, 10:31 am
MANILA – The prices of liquefied petroleum gas (LPG) increased for the fourth consecutive month in November. In separate advisories, Regasco said LPG prices increased by PHP0.50 per kg. while Petron and Solane-branded LPG increased by PHP0.45 per kg. effective Wednesday. "This reflects the… Read More
BSP eyes October inflation to slow to 5.1% to 5.9%
November 1, 2023, 10:08 am
MANILA – The Bangko Sentral ng Pilipinas (BSP) has forecast October’s inflation rate to decelerate to between 5.1 percent and 5.9 percent from September’s 6.1 percent, despite jumps in the prices of select food items, cooking gas, jeepney fares, and power rates. In a statement issued Tuesday… Read More
Bargain hunting lifts PSEi, peso strengthens
October 31, 2023, 7:33 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained 11.79 points, or 0.20 percent on Tuesday, but still failed to lift the local bourse back to the 6,000-level. The PSEi kicked off the week’s shortened trading at 5,973.78 level with All Shares also increasing by 7.7 points, or 0.24… Read More
Younger Pinoy workers inclined to have side hustle
October 31, 2023, 7:23 pm
MANILA – A survey has shown that younger Filipino workers are inclined to have part-time jobs outside of their regular work to build their financial capacity at a young age. According to Agile Data Solutions, Inc., a startup market research firm, 60 percent of its survey respondents have… Read More
LandBank waives fees for fund transfers below P1K
October 31, 2023, 7:21 pm
MANILA – State-run Land Bank of the Philippines (LandBank) said it has removed fees for online fund transfers to other banks via InstaPay and PESONet for transactions worth PHP1,000 and below. In a statement on Tuesday, the bank said customers can now enjoy free online fund transfers beginning… Read More
PH debt declines in September
October 31, 2023, 7:21 pm
MANILA – The national government's (NG) total outstanding debt declined as of end-September this year due to its repayments of both local and foreign borrowings. Data released by the Bureau of the Treasury (BTr) on Tuesday showed that the NG's total outstanding debt during the period went down… Read More
Banks suspend ops on Nov. 1-2
October 31, 2023, 7:11 pm
MANILA – Local banks have advised their clients to be prepared ahead of the bank operations’ suspension on All Saints’ Day (Nov. 1) and All Souls Day (Nov. 2). PS Bank, Metropolitan Group’s thrift banking arm, in an advisory on Tuesday said all its branches nationwide will be closed during… Read More
