Business
BTr fully awards T-bills
September 25, 2023, 5:18 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills) at a slightly higher rate. The 91-, 182- and 364-day T-bills fetched average rates of 5.595 percent, 5.968 percent and 6.119 percent, respectively. "Treasury bill average auction yields corrected… Read More
BSP disqualifies unregistered Tagaytay-based forex dealer
September 25, 2023, 4:15 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) has disqualified a Tagaytay-based foreign exchange company for operating unregistered. In a statement on Monday, the central bank identified the erring player as Riyben Foreign Exchange, which has a branch at… Read More
Budget deficit widens in August
September 25, 2023, 11:01 am
MANILA – The national government's budget deficit widened to PHP133 billion in August from PHP72 billion a year ago due to lower revenues and higher spending, the Department of Finance (DOF) said. In his weekly press chat on Friday, DOF Secretary Benjamin Diokno said the budget deficit during… Read More
Gov't to issue retail dollar bonds on Tuesday
September 25, 2023, 10:55 am
MANILA – Department of Finance (DOF) Secretary Benjamin Diokno said the government is set to launch this week a US dollar denominated retail dollar bonds. "We will launch the Retail Dollar Bonds 2 next week, on September 26 to be specific," Diokno said in his weekly press chat on Friday. Diokno… Read More
LandBank loans to rice farmers reach P2.2 billion
September 24, 2023, 2:53 pm
MANILA – State-owned Land Bank of the Philippines (LandBank) has released PHP2.2 billion loans to rice farmers from January to July this year through the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF). In a statement on Sunday, LandBank said the… Read More
Busan offers higher perks as it bids to host World Expo 2030
September 24, 2023, 1:58 pm
BUSAN, South Korea – Higher incentives await participating developing countries, including the Philippines, at the World Expo 2030 should the South Korea government win the bidding to host the international event.South Korea will provide USD4 million for each developing country that will… Read More
DA: Intercropping on tobacco lands good for resilience, food security
September 23, 2023, 9:53 pm
MANILA – The Department of Agriculture (DA) and local government units (LGUs) of tobacco-producing provinces urged inter-cropping among tobacco farmers to augment their income and compensate for markets lost due to health concerns over smoking. In an interview on Saturday, DA Undersecretary… Read More
CDC to reintroduce Clark as industrial park, tourist destination
September 23, 2023, 3:10 pm Updated on October 29, 2023, 4:12 pm
MANILA – With Clark’s improved accessibility from different cities in Asia and nearby provinces in Luzon, the Clark Development Corp. (CDC) is reintroducing the city in Pampanga as an industrial park and a tourist destination. “You’ve seen that it (Clark) is very accessible from all major… Read More
Rate hike possible amid inflation: BSP chief
September 22, 2023, 9:15 pm
MANILA – A rate cut is not on the table given the expectations of within-target inflation in the last quarter of 2023 and still strong domestic output, according to Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona. In an interview over Bloomberg Television Friday, Remolona said “upside… Read More
Peso, stocks up after Fed, BSP maintain rates
September 22, 2023, 6:18 pm
MANILA – The local bourse continued to bounce back, while the peso also appreciated on Friday following the Fed's decision to maintain rates. The Philippine Stock Exchange index (PSEi) gained 48.08 points to close at 6,142.79. All Shares likewise rose by 22.88 points to 3,316.95. All of the… Read More
Private, public sectors urged to help cushion oil price hikes
September 22, 2023, 6:00 pm
MANILA – Both the private and public sectors should be willing to make temporary sacrifices to cushion the continuing increases in domestic prices of petroleum, according to leaders in business, labor and the academe. This came as a reaction to House Speaker Martin Romualdez’s appeal for local… Read More
BIR maintains 100% compliance, resolution on complaints handling
September 22, 2023, 2:51 pm
MANILA – The Bureau of Internal Revenue (BIR) said it has achieved 100 percent resolution and compliance rates in complaints handling for the seventh consecutive month. In a statement on Friday, the BIR said this is based on the report from the Office of the President’s 8888 Citizens’… Read More
DTI: Manufacturers agree to hold off price increase
September 22, 2023, 1:09 pm
MANILA – The Department of Trade and Industry (DTI) said manufacturers of basic necessities and prime commodities (BNPCs) have agreed to temporarily hold off a price increase on their products. In a Viber message to reporters late Thursday, DTI Undersecretary Kim Lokin said Trade Secretary… Read More
BSP keeps key rates steady; guv hints of rate hike in Nov
September 21, 2023, 9:03 pm
MANILA – Monetary authorities kept the central bank’s key rates steady on Thursday amid the hike in the 2023 and 2024 inflation forecasts, but indicated the possibility of a rate hike in November. In a briefing, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the Monetary… Read More
Stocks up, peso moves sideways as Fed maintains rate
September 21, 2023, 7:09 pm
MANILA – Local shares went up on Thursday while the peso moved sideways after the Fed's announcement to maintain rates. The Philippine Stock Exchange index (PSEi) gained 53.67 points to close at 6,094.71, while All Shares likewise rose by 22.41 points to 3,294.07. "Philippine shares closed… Read More
Gov't to expedite processing of infra flagship projects -NEDA
September 21, 2023, 6:54 pm
MANILA – The National Economic and Development Authority (NEDA) on Thursday approved several high-impact initiatives, which include expediting the processing of infrastructure flagship projects (IFPs) and the reconstitution of the NEDA Board. In a briefing, NEDA Secretary Arsenio Balisacan said… Read More
Approval of PPP Act to revolutionize PPP approval process -DOF
September 21, 2023, 6:36 pm
MANILA – The Department of Finance (DOF) has welcomed the passage of Senate Bill No. 2233 or the Public-Private Partnership (PPP) Act on second reading, saying the PPP Act will institutionalize timelines and revolutionize the evaluation and approval processes of PPP proposals. “I thank our… Read More
High domestic liquidity results in full award of BSP’s TDF
September 21, 2023, 5:33 pm
MANILA – The demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) surpassed monetary authorities’ expectations and rates of both the seven-day and 14-day tenors fell. In a statement Thursday, BSP Deputy Governor Francisco Dakila Jr. said total tenders in this… Read More
Concepcion: Job creation, improving agriculture to help spur growth
September 21, 2023, 4:53 pm
MANILA – Go Negosyo founder Joey Concepcion on Thursday cited the need to create more jobs to further spur economic growth. "Job generation and the quality of jobs are very important. Quality of jobs, we really need to train our people, they have to elevate," he said at the weekly Pandesal Forum… Read More
US Fed keeps interest rate unchanged between 5.2%-5.5%
September 21, 2023, 3:35 pm
ISTANBUL – The US Federal Reserve skipped an interest rate increase Wednesday, as widely expected, and kept its federal funds rate unchanged between the 5.25 percent and 5.5 percent target range. "Recent indicators suggest that economic activity has been expanding at a solid pace," it said in a… Read More
