Business
Mixed results mark T-bills auction
October 2, 2023, 6:58 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for the 91- and 182-day Treasury bills (T-bills) and partially awarded the 364-day security. The 91- and 182-day T-bills fetched an average rate of 5.698 percent and 6.023 percent, respectively. The 364-day tenor, meanwhile,… Read More
Oil up as investors await OPEC production decision
October 2, 2023, 6:19 pm
ANKARA – Oil prices increased Monday over supply worries ahead of a highly-anticipated meeting of the Organization of the Petroleum Exporting Countries (OPEC) countries on Wednesday, while improving factory activity in China also contributed to price hikes. International benchmark crude Brent… Read More
Firms to adjust oil prices Oct. 3
October 2, 2023, 5:58 pm
MANILA – There will be adjustments in oil prices starting 12:01 a.m. of Oct. 3. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix Petroleum, PTT, Seaoil, Shell and Unioil said they will slash gasoline prices by PHP2 per liter while increasing diesel prices by PHP0.40 per… Read More
PH seen as 'launch pad' in Asia for global franchise brands
October 2, 2023, 5:20 pm
MANILA – Philippine Franchise Association (PFA) chair Sherill Quintana has urged global franchise brands to make the Philippines as their "launch pad" in Asia. This, as the Philippines will host the largest franchise events in the world this month, including the Franchise Asia Philippines… Read More
Domestic demand backs PH manufacturing in September
October 2, 2023, 3:16 pm
MANILA – The S&P Global Manufacturing Purchasing Managers' Index (PMI) reported Monday that the country's manufacturing performance in September this year has improved, supported by domestic demand. The latest index shows that the Philippines manufacturing PMI last month posted a score of… Read More
PH likely to post highest growth in Southeast Asia
October 2, 2023, 2:11 pm Updated on October 3, 2023, 12:16 pm
MANILA – The Philippines will likely post the highest growth among Southeast Asian countries despite the projected economic slowdown this year, the World Bank said on Monday. "GDP (gross domestic product) growth in the Philippines is projected to moderate to 5.6 percent in 2023 from 7.6… Read More
Gov't expects $1-B from Retail Dollar Bonds 2 offering
October 2, 2023, 12:10 am
MANILA – The government is confident that it will raise more than USD1 billion from its second offering of Retail Onshore Dollar Bonds (RDB 2), a top official of the Bureau of the Treasury (BTr) said. "It's been three days, but we're seeing the demand, we're close to the USD1 billion initially… Read More
List of applicants for ‘Maharlika’ execs ready for PBBM's scrutiny
October 2, 2023, 12:05 am
MANILA – President Ferdinand R. Marcos Jr. will soon receive the list of qualified nominees for the Maharlika Investment Council (MIC) top positions, according to Finance Secretary Benjamin Diokno. Diokno said the applications and nominations for the president and chief executive officer, and… Read More
BSP eyes Sept inflation at 5.3% to 6.1%
September 29, 2023, 9:10 pm
MANILA – Higher prices of fuel and agricultural products are expected to contribute to upside risks to the inflation rate this month, which the Bangko Sentral ng Pilipinas (BSP) sees between 5.3 percent to 6.1 percent. In a statement on Friday, the central bank said upticks in electricity… Read More
Healthy profit-taking at local bourse; peso ends Q3 strong
September 29, 2023, 8:13 pm
MANILA – The local index corrected lower on the last day of trading for the third quarter amid “healthy profit-taking” while the Philippine peso closed stronger Friday. The Philippine Stock Exchange index (PSEi) ended its six-day rally after declining by 64.28 points to close at 6,321.24… Read More
Economist: PH-ROK trade deal, one of SoKor’s most successful FTAs
September 29, 2023, 8:01 pm
SEOUL, South Korea – An economist of the Korea Institute for International Economic Policy (KIEP) considers the Philippines-Republic of Korea Free Trade Agreement (PH-ROK FTA) as one of the most successful trade deals for South Korea. KIEP associate research fellow Kim Nam Seok, in an interview… Read More
Producer price index for manufacturing up in August
September 29, 2023, 3:22 pm
MANILA – The producer price index (PPI) for manufacturing slightly went up to 0.5 percent in August from 0.05 percent in July, the Philippine Statistics Authority (PSA) said. In a report released on Friday, the PSA said the PPI during the month was however lower than the annual increase of 7.4… Read More
BSP: Banks' reserve requirement ratio cut 'off the table' this year
September 29, 2023, 9:23 am
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said a further cut in banks' reserve requirement ratio (RRR) is "off the table" for this year. “For 2023, yes, it's (RRR) off the table. Maybe the soonest will be 2024, when the time is right,” Remolona said on the… Read More
NEDA sees higher GDP growth in Q3
September 29, 2023, 8:01 am
MANILA – Economic growth is expected to rebound in the third quarter of the year mainly driven by higher government spending, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said. "I think that's what we are expecting because of the underspending that we had that… Read More
PSEi rallies for 6 straight days, peso nearly touches 57-level
September 28, 2023, 6:33 pm
MANILA – Bargain hunters continue to support the local stock market, while the peso moved sideways but nearly touched the 57-level. The Philippine Stock Exchange index (PSEi) rallied for six consecutive trading days on Thursday after gaining 10.84 points to 6,385.52, with broader All Shares… Read More
IPOPHL vows to contribute to improve global innovation ranking
September 28, 2023, 5:18 pm
MANILA – Following the country’s higher ranking in the 2023 Global Innovation Index (GII), Intellectual Property Office of the Philippines (IPOPHL) Director General Rowel Barba said his office will further contribute to the improvement of the country’s ranking in the innovation report. This… Read More
DBP backs gov’t logistics action plan to cut cost of commodities
September 28, 2023, 2:14 pm
MANILA – State-owned Development Bank of the Philippines (DBP) is prepared to extend the needed technical and financial assistance to strategic initiatives that would ensure the successful implementation of the Marcos administration’s three-year logistics master plan aimed at reducing the cost… Read More
Korea power firm offers nuclear training program for Filipinos
September 28, 2023, 1:48 pm
BUSAN, South Korea – The Korea Hydro & Nuclear Power Co., Ltd. (KHNP) is offering the Philippine government a training program for nuclear professionals to prepare the country should it decide to activate its nuclear power assets. A senior official of KHNP’s Overseas Business Development… Read More
Berong Nickel exceeds mine rehab targets for 1H 2023
September 28, 2023, 1:29 pm
MANILA - Berong Nickel Corporation (BNC) on Thursday reported that it has so far rehabilitated 30 hectares of the Berong mine in Quezon, Palawan in the first half of the year. In a disclosure to the stock exchange, parent company DMCI Holdings Inc. said the rehabilitated area is equivalent to 88… Read More
Gov't launches retail dollar bonds 2
September 27, 2023, 10:11 pm
MANILA – The government on Wednesday raised USD611.2 million from its second offering of Retail Onshore Dollar Bonds (RDB 2), more than thrice the initial offering of USD200 million. During the rate setting auction, Bureau of the Treasury (BTr) set the coupon for the new 5.5-year… Read More
