Business
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
PBBM to meet NEDA execs to discuss impact of rice price cap
September 27, 2023, 10:01 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said they will likely meet with President Ferdinand R. Marcos Jr. next week to discuss the outcome of the imposition of the price cap on rice. "We'll more likely meet again next week because he did say he… Read More
PH economy seen growing by 5.5% in 2023
September 27, 2023, 9:56 pm
MANILA – The Philippine economy is projected to grow by 5.5 percent this year, driven by the growth in government spending, a report released by the First Metro Investment Corporation (FMIC) and the University of the Asia and the Pacific (UA&P) said. In the September issue of The Market Call… Read More
PH economic slowdown expected after BSP rate hikes: economist
September 27, 2023, 8:58 pm
MANILA – An economist of HSBC on Wednesday said the slight Philippine economic slowdown is expected as the cost of tightening monetary policy to address the elevated inflation rate. In a briefing on Wednesday, Frederic Neumann, HSBC managing director and chief Asia economist, said the bank… Read More
Gov't launches roadmap to accelerate PH innovation governance
September 27, 2023, 7:46 pm
MANILA – The government on Wednesday launched the country's innovation roadmap and committed to making innovation the centerpiece of sustainable development. National Innovation Council (NIC) Chairperson, President Ferdinand R. Marcos Jr., led the launch of the National Innovation Agenda and… Read More
BSP fully awards TDF, rates drop
September 27, 2023, 7:35 pm
MANILA – Strong demand was registered for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) on Wednesday, resulting in the full award of both the seven- and 14-day tenors, but rates declined. Central bank data show that the BSP increased by PHP20 billion the offering for the… Read More
PH improves ranking in Global Innovation Index 2023
September 27, 2023, 7:05 pm
MANILA – The Philippines' ranking in the Global Innovation Index (GII) improved to 56th place among 132 economies this year, the World Intellectual Property Organization (WIPO) reported Wednesday. The country's GII ranking this year is better than its placement in 2022 at 59th, which was a… Read More
PH stocks up on local investors' optimism, peso ends flat
September 27, 2023, 6:11 pm
MANILA – The local bourse closed in the positive territory on Wednesday, thanks to local investors’ optimism, while peso ended flat. The Philippine Stock Exchange index (PSEi) jumped 110.74 points, or 1.77 percent, to 6,374.68 level, with broader all shares also increasing by 51.50 points, or… Read More
206-MW wind power facility to rise in Northern Samar
September 27, 2023, 6:02 pm
MANILA – A 206-megawatt wind power facility will rise in Northern Samar as three renewable energy (RE) firms will collaborate to undertake the project. In a disclosure to the Philippine Stocks Exchange index (PSEi) Wednesday, Vivant Energy Corp. said it entered into a joint venture agreement… Read More
Prolonged tariff cuts on agri imports get mixed reactions
September 27, 2023, 5:58 pm
MANILA – A proposal to further extend tariff cuts on agricultural goods to moderate inflationary forces drew both support and appeals for caution from leaders of key business groups and academics. This came as a reaction to reports that an Inter-Agency Committee on Inflation and Market Outlook… Read More
1st vaccine manufacturing plant in PH starts construction
September 27, 2023, 11:15 am
MANILA – The country’s first vaccine manufacturing facility will soon rise as Glovax Lifescience Corp., a partnership between local firm Glovax Biotech and Korean pharmaceutical company Eubiologics, started building its PHP7.5 billion vaccine facility here. Trade Undersecretary and Board of… Read More
Stocks up, peso depreciates on Tuesday
September 26, 2023, 10:23 pm
MANILA – Local shares went up for the fourth consecutive day on Tuesday amid lower global oil prices, but the peso depreciated against the US dollar. The Philippine Stock Exchange index (PSEi) gained 91.10 points to close at 6,263.94 poins. All Shares also went up by 36.23 points to… Read More
Chinese firm to open 2 new factories in Batangas
September 26, 2023, 9:45 pm
MANILA – China-based electronics company Grandsun Advanced Electronics (Philippines) Co. Inc. will open two additional audio devices factories in Batangas in 2025, a fruit of the President’s visit to China last January. In a statement on Tuesday, the Board of Investments (BOI) said the… Read More
Rice price cap beneficial for inflation control in Ilocos – NEDA
September 26, 2023, 7:51 pm
MALASIQUI, Pangasinan – The imposition of mandated price ceilings on rice through President Ferdinand Marcos Jr.'s Executive Order No. 39 is expected to slow down the inflation rate in the Ilocos region, according to the National Economic and Development Authority (NEDA). In a virtual forum on… Read More
BTr rejects bids for re-issued T-bonds
September 26, 2023, 6:41 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully rejected bids for the reissued three-year Treasury bonds (T-bonds), which attracted low bids. Had it been awarded, average rate of the debt paper would have risen to 6.482 percent from 6.222 percent during the previous auction of the… Read More
AUB expands Alipay+ cross-border digital payments
September 26, 2023, 6:01 pm
MANILA – The Asia United Bank (AUB) has enabled more local merchants to accept cross-border digital payments from Hong Kong, South Korea and Malaysia via Alipay+ and AUB PayMate. In a statement on Tuesday, the bank said travelers can now pay using their home country’s e-wallets for purchases… Read More
Oil prices up over tight supply outlook
September 25, 2023, 9:31 pm
ISTANBUL – Oil prices rose on Monday as markets focused on a tighter supply outlook after Russia limited the export of gasoline and diesel. International benchmark crude Brent traded at USD92.31 per barrel at 10.23 a.m. local time (0723 GMT), a 0.38 percent gain from the closing price of… Read More
DMCI Mining sees higher nickel output, eyes opening 2 new mines
September 25, 2023, 8:36 pm
MANILA – DMCI Mining Corp. on Monday said it is on track to surpass its 2022 nickel ore production and shipments, eyeing to open two new mines as part of the company's expansion plans. In a statement, DMCI Mining said production already doubled to 1.12 million wet metric tons (WMT) in the first… Read More
Stocks up on PSEi rebalancing, peso almost flat
September 25, 2023, 7:08 pm
MANILA – Local shares went up anew while the peso was almost flat on the first trading day of the week. The Philippine Stock Exchange index (PSEi) gained 30.05 points to close at 6,172.84 while the broader All Shares also increased by 8.20 points to 3,325.15 on Monday. "Philippine shares traded… Read More
Return to 'old-style pandesal' pushed to reduce bakers' costs
September 25, 2023, 6:53 pm
MANILA – Community bakers are pushing for the nationwide adoption of a “standardized pandesal” formula amid the rising cost of ingredients, to stave off future price increases in the Filipinos’ staple bread. In an interview on Monday, Lucito Chavez, president of the Asosasyon ng Pilipinong… Read More
