Business
German biz PH outlook in next 12 months remains optimistic
June 6, 2024, 6:45 pm
MANILA – German businesses based in the Philippines have a positive outlook in terms of their development, investments, hiring, and the country's economic growth within a year. The AHK World Business Outlook Survey Spring 2024 released on Thursday showed that 61 percent of the surveyed firms… Read More
Cement firm eyes recycling 10M tons of demolition wastes by 2025
June 6, 2024, 5:05 pm
MANILA – Strengthening its circular economy strategy, Holcim Group said Thursday it is targeting to recycle 10 million tons of demolition wastes next year. In a statement, the volume of Holcim’s recycle materials would be higher than last year’s level of nearly 8.4 million tons, making the… Read More
LandBank gets int'l awards for dev't projects
June 6, 2024, 4:41 pm
MANILA – State-run Land Bank of the Philippines (LandBank) recently received two international awards from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) for its development projects on rural electrification and financial inclusion. In a statement on… Read More
DTI, TikTok discuss ways to bolster PH e-commerce
June 6, 2024, 2:10 pm
MANILA – The Department of Trade and Industry (DTI) said Thursday that Secretary Alfred Pascual led a discussion with TikTok in Singapore on June 5 to reinforce their partnership and explore new collaborations to enhance the Philippines' digital economy. During the meeting, Pascual pointed out… Read More
PSA: Employment rate up to 96% in April 2024
June 6, 2024, 12:34 pm
MANILA – The country's employment rate was recorded at 96 percent in April, higher than the 95.5 percent estimated in the same month last year, the Philippine Statistics Authority (PSA) said on Thursday. Major industries with the largest employment include accommodation and food service… Read More
Japanese carmaker Toyota admits to forging vehicle test results
June 5, 2024, 7:52 pm
ISTANBUL – Japanese carmaker Toyota admitted to having tampered with its vehicle tests, specifically crash and pedestrian tests. Government officials are currently inspecting the Toyota Motor headquarters in central Japan, interviewing executives and personnel, the Japanese public broadcaster… Read More
Within-target inflation backs bourse, peso sustains shedding
June 5, 2024, 6:30 pm
MANILA – As the May inflation remained within the 2 to 4 percent target of the government, the local bourse gained strength during the mid-week trading, while the peso continued its shedding. The benchmark Philippine Stock Exchange index (PSEi) closed the day higher by 08.6 percent, climbing to… Read More
BSP raises term deposit facility volume offering
June 5, 2024, 5:58 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Wednesday raised the term deposit facility (TDF) volume to PHP290 billion from last week's PHP210 billion. In a statement, BSP Deputy Governor Francisco Dakila Jr. said the allocation for the eight-day tenor was adjusted to PHP140 billion from… Read More
Rice tariff rate cut to ease inflation, boost economic growth
June 5, 2024, 5:35 pm
MANILA – The tariff rate cut on rice, if implemented timely and successfully, will not only help ease inflation but also boost economic growth, an economist from HSBC Global Research said on Wednesday. In a briefing at the Shangri-la at The Fort in Bonifacio Global City, HSBC Global Research… Read More
112MW Tanay wind project begins construction
June 5, 2024, 5:20 pm
MANILA – Ramping up the country’s renewable energy (RE) capacity, listed firm Alternergy Holdings Corp. said Wednesday it has begun the construction of its largest wind energy project in Tanay, Rizal. Alternergy executives led by its chairman Vicente Pérez and president Gerry Magbanua, and… Read More
Electric vehicle firm eyes 22 dealerships in 2024
June 5, 2024, 4:03 pm
MANILA – ACMobility, the official BYD distributor in the Philippines, targets to end the year with 22 dealership networks nationwide to fast-track the adoption of electric vehicles (EVs) in the country. In a statement Wednesday, ACMobility said it has secured 11 new dealership deals for BYD to… Read More
Gov't to step up efforts vs. inflation drivers
June 5, 2024, 12:05 pm
MANILA – The government is continuously stepping up efforts against persistent inflation drivers, the National Economic and Development Authority (NEDA) said Wednesday following reports on the slight rise in the headline inflation rate in May. “The government will continue to implement lasting… Read More
PH shares shed ahead of inflation data; peso flat
June 4, 2024, 7:40 pm
MANILA – The Philippine Stock Exchange index (PSEi) fell below the 6,400-level as investors waited for the release of May inflation data on Wednesday. The local bourse declined by 1.3 percent to 6,386.42 on Tuesday’s trading, while All Shares also declined by 0.92 percent to 3,439.04 level.… Read More
Leading VisMin developer sets P14.5-B capex for 2024
June 4, 2024, 6:46 pm
MANILA – A leading real estate developer in Visayas and Mindanao on Tuesday announced a PHP14.5-billion capital expenditure (capex) for 2024 which includes spending for its maiden project in Luzon. Cebu Landmasters, Inc. (CLI) chief operating officer Jose Franco Soberano said during the… Read More
BTr fully awards re-issued Treasury bonds
June 4, 2024, 6:43 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded bids for the re-issued 20-year Treasury bonds (T-bonds) during Tuesday's auction. With a remaining term of seven years and one month, the re-issued bond fetched an average rate of 6.624 percent, lower than the 7.058 percent during the… Read More
LandBank launches GoBayani digital deposit account for OFWs
June 4, 2024, 3:19 pm
MANILA – State-run Land Bank of the Philippines (LandBank) has launched its GoBayani savings, a digital deposit account that gives Filipinos abroad access to the bank’s digital banking services. In a statement on Tuesday, the bank said GoBayani, which was launched on Monday, allows overseas… Read More
BSP: Results on ghost employees probe out soon; post-mortem next
June 4, 2024, 3:00 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is close to concluding its investigation on ghost employees and is now conducting a post-incident review to derive lessons from this scandal. “We’re doing a post-mortem on this, on what else we can do that will prevent this in the future,” BSP… Read More
World Bank expects further PH economic growth until 2026
June 4, 2024, 1:59 pm
MANILA – Philippine economic growth is expected to increase by an average of 5.9 percent between 2024 and 2026, driven by the strong domestic demand and pickup in global growth, the World Bank said. In its Philippines Economic Update report released on Tuesday, the World Bank retained its 2024… Read More
150-bps rate cut in 2 years ‘too aggressive’: BSP
June 4, 2024, 11:38 am
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said on Tuesday easing the monetary policy by 150 basis points (bps) in two years would be “too aggressive” based on the current pace of the country’s economic growth. “Given the present trajectory (of growth), it is… Read More
Bargain hunting, manufacturing performance lift PSEi; peso weak
June 3, 2024, 7:25 pm
MANILA – The local bourse stayed in the green territory on Monday’s trading, thanks to investors looking for cheap shares and manufacturing index of China reported by S&P Global. The Philippine Stock Exchange index (PSEi) ended the day gaining by 0.53 percent to 6,470.74, with an uptick in… Read More
