Business

Economist eyes sustained growth in PH manufacturing PMI

MANILA – An economist forecasts continued improvement of the Philippines’ manufacturing purchasing managers index (PMI) as the government sustains reopening the economy. The country registered another increase in manufacturing PMI last September to 52.9 from 51.2 in the previous month,... Read More

Peso posts new record low; stocks take breather

MANILA – The peso recorded another record low against the United States dollar given the hawkish signals from Federal Reserve authorities while bargain hunting lifted the local bourse’s main index on Monday.The peso closed 59.00 against the US dollar from 58.625 last Friday. It opened... Read More

DOE OKs Prime Infra acquisition of Shell’s Malampaya stake

MANILA – The Department of Energy (DOE) has approved the acquisition deal between Prime Infrastructure Capital, Inc. and Shell Philippines Exploration B.V. (SPEX) on the latter’s 45-percent stake in the Malampaya Service Contract (SC) 38.This, after the DOE completed the review of the... Read More

BTr rejects T-bill bids across-the-board

MANILA – The Bureau of the Treasury (BTr) on Monday fully rejected bids for the Treasury bills (T-bills) as investors continued to demand for high yields. Had the auction committee fully awarded the debt papers, the rate of the 91-day paper would have risen to 4.660 percent, the... Read More

Fuel prices down anew this week

MANILA – Pump prices will go down anew this week, slashing diesel and kerosene prices for five straight weeks.Oil firms including Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil and Shell announced that they will roll back gasoline prices by PHP0.40 per liter and PHP0.45 per liter for... Read More

PH factories improve in September

MANILA – The country’s manufacturing purchasing managers’ index (PMI) in September 2022 improved to 52.9, the highest in three months, S&P Global reported Monday.The manufacturing score last month was higher than the sector’s performance in August at 51.2.The September... Read More

BSP 28-day bills' rates rise anew

MANILA– Hikes in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates continued to push the yield of the central bank’s 28-day bill higher as the demand for the debt paper remains strong.The average rate of the securities rose to 4.5301 percent from last week’s 4.4203... Read More

Measures on fiscal program implementation to address budget gap

MANILA – Measures on how the government will implement its fiscal program to further boost the economy’s recovery and improve the state’s fiscal health are key factors in addressing budget gap, an economist said. On Friday, the government reported lower budged deficit last August... Read More

PH peso regains strength vs. US dollar, stock gauge slips

MANILA – The peso continued to improve against the United States dollar on Friday but risk-off sentiments reigned in the local bourse due to renewed recession fears. As the US dollar’s 20-year high waned a tad, the local currency continued to regain its footing and finished the week at... Read More

NG debt hits P13-T in end-August

MANILA – Total liabilities of the national government (NG) rose by a percent to PHP13.02 trillion as of end-August 2022 due to domestic securities issuance and currency adjustments, the Bureau of the Treasury (BTr) reported on Friday. In a statement Friday, the BTr said the latest debt level... Read More

BOI registers UP-based e-learning platform project

MANILA – The Board of Investments (BOI) on Friday said it approved the registration of Tagpros Education OPC for its learning management systems (LMS) platform project based in the University of the Philippines (UP) Diliman campus in Quezon City.The company has invested PHP46 million for the... Read More

BSP eyes September inflation between 6.6%-7.4%

MANILA – Higher prices of electricity and key food commodities are expected to push domestic inflation rate in September 2022 to between 6.6 to 7.4 percent, higher than the previous month’s level.In a statement on Friday, the Bangko Sentral ng Pilipinas (BSP) said depreciation of the... Read More

SEC warns public vs. Lodi Coins

MANILA – The Securities and Exchange Commission (SEC) has advised the public against investing in Lodi Coins, a supposed virtual currency offered on social media without the necessary licenses from regulators.In an advisory dated Sept. 29, the Commission flagged the public offering of Lodi... Read More

Economic reopening seen to boost portfolio investment inflows

MANILA – Net outflows of foreign portfolio investments registered a smaller figure in August 2022 at USD86.29 million from month-ago’s USD103.14 million net outflows, the Bangko Sentral ng Pilipinas (BSP) reported.However, central bank data show that the net outflows last August is a... Read More

PH stocks recover; peso almost unchanged

MANILA – The main stocks index took a breather on Thursday while the peso finished the day almost unchanged against the US dollar even after touching 59-level mid-trade.After several days of decline, the Philippine Stock Exchange index (PSEi) gained 0.93 percent, or 54.57 points, to 5,934.25... Read More

Mattress maker invests P560-M to boost export

MANILA – Maxiflex Philippines Corp., the manufacturer of mattress brand Uratex, has invested PHP560.4 million for its facility in Plaridel, Bulacan to boost its mattress exports.In a statement Thursday, the Board of Investments (BOI) said it approved Maxiflex’s registration under the... Read More

DOE exec sees stable power supply in Visayas in next 5 years

DUMAGUETE CITY – The power outlook for the Visayas region in the next five years is stable with excess supply and no indications of a shortage, a key official of the Department of Energy (DOE) in the region said on Thursday.In an interview with reporters following a forum at the Sangguniang... Read More

SEC issues guidelines on arbitration of intra-corporate disputes

MANILA – The Securities and Exchange Commission (SEC) has issued guidelines that will allow corporations to resolve intra-corporate disputes promptly and without going to court through arbitration.The Commission on Sept. 19 issued SEC Memorandum Circular No. 8, Series of 2022, which provides... Read More

DTI to support typhoon-affected MSMEs in Nueva Ecija

CABANATUAN CITY, Nueva Ecija – The Department of Trade and Industry (DTI) is working to support micro-enterprises affected by Super Typhoon Karding.Dr. Richard Simangan, provincial director of DTI in Nueva Ecija, said on Thursday that some 24 micro, small and medium enterprises (MSMEs) were... Read More

20-MW solar projects in PEZA zones eyed

MANILA – The Philippine Economic Zone Authority (PEZA) has partnered with the Upgrade Energy Philippines, Inc. (UGEP) to develop solar energy projects within economic zones.In a statement Thursday, the investment promotion agency said PEZA officer-in-charge Tereso Panga and UGEP president and... Read More