Business
Local shares, peso gain on higher PH exports
October 10, 2023, 7:32 pm
MANILA – Both local shares and currency improved on Tuesday as the government reported higher Philippine export revenues for August, brushing aside the Israel-Hamas conflict that started over the weekend. The benchmark Philippine Stock Exchange index (PSEi) increased by 11.91 points to… Read More
BTr fully awards reissued Treasury bonds
October 10, 2023, 5:26 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for the reissued 10-year Treasury bonds (T-bonds). The reissued bonds have a remaining term of five years and three months. It fetched an average rate of 6.512 percent, higher than the 6.22 percent during the previous… Read More
Trade deficit narrows in August
October 10, 2023, 2:38 pm
MANILA – The country's trade deficit declined by 31.5 percent to USD4.1 billion in August this year from USD6 billion a year ago, the Philippine Statistics Authority (PSA) said. PSA data on Tuesday showed that the trade deficit during the month was also slightly lower than the USD4.19 billion… Read More
Australia picks PH as Investment Deal Team location in ASEAN
October 10, 2023, 2:05 pm Updated on October 10, 2023, 2:41 pm
MANILA – The Australian government announced on Monday that it will establish an Investment Deal Team in the Philippines to bring Australian investments into the country. This was announced by Australian Trade and Tourism Minster Don Farrell in a press conference in Adelaide on the sidelines of… Read More
T-bills fetch higher rates for 3 straight auctions
October 9, 2023, 9:17 pm
MANILA – All tenors of Treasury bills (T-bills) on Monday fetched higher yields for three straight auctions. The PHP15-billion T-bills offering was oversubscribed at PHP22.6 billion, the Bureau of the Treasury (BTr) said. Despite the higher tenders, the auction committee only awarded PHP12.5… Read More
Aussie firms offer to build 40-MW thorium reactor in PH
October 9, 2023, 8:53 pm
MANILA – Australia-based Southern Infrastructure Pty. Ltd. and Kaizen ANZ Pty. Ltd. want to invest in a 40-megawatt (MW) thorium reactor in the Philippines, the Department of Trade and Industry (DTI) said. DTI Secretary Alfredo Pascual met with representatives of the two firms in Adelaide on… Read More
PH markets shrug off Israel crisis, for now – analysts
October 9, 2023, 8:43 pm
MANILA – The sudden outbreak of hostilities between the state of Israel and Hamas militants does not pose an immediate economic threat to the Philippines, but financial market analysts warned that a protracted conflict will eventually affect oil prices, bilateral trade and overseas Filipino… Read More
Stocks, peso slip on Middle East armed conflict
October 9, 2023, 8:29 pm
MANILA – The local bourse’s main index ended Monday in the negative territory while the peso shed against the United States dollar as investors stayed on the sidelines given the ongoing armed conflict between Israel and the Palestinian Sunni-Islamic militant Hamas. The Philippine Stock… Read More
Big-time oil price rollback set Oct. 10
October 9, 2023, 6:52 pm
MANILA – Oil companies will implement big-time rollbacks in the pump prices of petroleum products starting 12:01 a.m. Tuesday. In separate announcements, Caltex, Cleanfuel, Flying V, Jetti, Petro Gazz, Petron, Phoenix Petroleum, PTT, Seaoil, Shell and Unioil said they will slash gasoline prices… Read More
New Clark City eyes 50% lower carbon emission
October 9, 2023, 3:13 pm
MANILA – The Bases Conversion and Development Authority (BCDA) is eyeing lower carbon emissions in New Clark City in Tarlac by implementing district cooling technology in partnership with Qatar- and Japan-based companies. In a statement Monday, BCDA said it has signed a memorandum of… Read More
Gov't raises $1.26B from retail dollar bonds 2
October 9, 2023, 12:05 am
MANILA – The Philippine government has raised USD1.26 billion from the issuance of the second tranche of the Retail Dollar Bond (RDB 2). Launched on Sept. 27 and offered until Oct. 6, the RDB 2 has a tenor of 5.5 years and a gross interest rate of 5.750 percent per annum, payable every quarter… Read More
Finance execs see higher economic growth by 2H 2023
October 9, 2023, 12:00 am
MANILA – The Philippine economy’s growth will be faster in the second half of the year, according to the projections of Department of Finance (DOF) Secretary Benjamin Diokno. The Philippine economy grew by 4.2 percent in the second quarter of the year, bringing the year-to-date growth at 5.3… Read More
Australian ‘deal teams’ to bring investments to Southeast Asia
October 7, 2023, 2:23 pm
MANILA – The Australian government's plan to establish investment deal teams in Southeast Asia is a "revolutionary" move. Senior Trade and Investment Commissioner Christopher Lim of the Australian Embassy in Manila said their government generally encourages overseas companies to invest in… Read More
Equities up as investors shrug off inflation data, peso on sideways
October 6, 2023, 8:10 pm
MANILA – Investors were optimistic on this week’s closing, brushing aside the higher inflation for September, while the Philippine peso closed sideways. The Philippine Stock Exchange index (PSEi) ended the day gaining 81.35 points but still failed to reach the 6,300-mark, as it closed at… Read More
Alternergy reallocates IPO proceeds to wind farms
October 6, 2023, 7:47 pm
MANILA – Listed renewable energy firm Alternergy Holdings Corp. reallocated PHP143 million from its initial public offering (IPO) proceeds to two wind projects to ensure their timely start. Based on a document shared by Alternergy on Friday, its Tanay Wind Project is getting an additional… Read More
Balisacan: Further rate hike to hurt economy
October 6, 2023, 7:43 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said further raising interest rates will hurt the Philippine economy. "If I were in the Monetary Board, I would say no [to policy rate hike]. Because we have been the most aggressive in our region in raising… Read More
Plant-based meat substitutes seen to boost food security
October 6, 2023, 6:20 pm
MANILA – The Marcos administration may want to consider cultivating the plant-based meat substitute industry as part of its broader food security strategy, according to an agricultural economist in the academe. In an interview on Friday, Roberto Galang, dean at Ateneo de Manila’s John… Read More
PSA: Manufacturing growth accelerates in August
October 6, 2023, 2:58 pm
MANILA -- Growth of the country's manufacturing sector accelerated in August, the Philippine Statistics Authority (PSA) reported on Friday. Results of the Monthly Integrated Survey of Industries (MISSI) showed that the value of production index (VaPI) for manufacturing grew by 9.1 percent in… Read More
Unemployed Filipinos down anew in August
October 6, 2023, 12:44 pm
MANILA – The number of unemployed Filipinos fell to 2.21 million in August this year from 2.68 million in the same month in 2022 and 2.27 million in July this year, National Statistician Dennis Mapa said. In a briefing on Friday, Mapa said preliminary results of the Philippine Statistics… Read More
PH seafarers can fill 9.8K workforce demand in offshore wind projects
October 6, 2023, 12:00 pm
MANILA – With the growing interest in building offshore wind farms in the country, an industry expert said Filipino seafarers could fill the demand for skilled workers in these projects as they are the "natural fit" for the job. Filipino seafarers could explore opportunities in the upcoming… Read More
