MANILA – The Securities and Exchange Commission (SEC) has considered favorably the listing of LFM Properties Corporation on the stock exchange by way of introduction.In its meeting on June 28, the commission en banc rendered effective the registration statement of LFM Properties covering up to... Read More
MANILA – The inflation rate is expected to post higher levels of at least 5.5 percent in the second and third quarter of 2022 due in part to rising oil prices in the international market.Based on the June 2022 issue of the Market Call released on Monday, inflation further surpassed the... Read More
MANILA – The main stocks index started the week on a positive note amid the lack of drivers from the United States given its Independence Day holiday, while the peso moved sideways against the greenback.The Philippine Stock Exchange index (PSEi) rose by 0.30 percent, or 18.27 points, to... Read More
MANILA – The National Economic and Development Authority (NEDA) hails the appointment of Arsenio Balisacan as the country’s Socioeconomic Planning Secretary under President Ferdinand Marcos Jr.’s administration.In his statement during the NEDA turnover ceremony on Monday, the... Read More
MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza has offered another way for the Bulacan Airport City project to be declared as special economic zone after President Ferdinand “Bongbong” Marcos Jr. vetoed House Bill 7575 creating the Bulacan Airport... Read More
MANILA – Finance Secretary Benjamin Diokno said Monday he is confident that new Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla will continue the game-changing reforms he implemented under his previous leadership of the institution, which include its rapid shift to digitalization and... Read More
MANILA – The rates of Treasury bills (T-bills) rose on Monday but all tenors were fully awarded during the auction.The average rate of the 91-day debt paper rose to 1.908 percent, the 182-day to 2.608 percent, and the 365-day to 2.811 percent.These were at 1.855 percent, 2.400 percent, and... Read More
MANILA – After four straight weeks of big-time price hikes, oil companies will roll back petroleum prices starting Tuesday morning.In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell announced they will cut diesel prices by PHP3 per liter.Caltex, Seaoil,... Read More
MANILA – As part of his priorities to restructure the agency, new Department of Trade and Industry (DTI) Secretary Alfredo Pascual has reduced the number of undersecretaries from seven to five.According to the updated DTI website, Pascual retained Undersecretary Ceferino Rodolfo for Industry... Read More
MANILA – Incoming Budget and Management Secretary Amenah Pangandaman on Friday extended her condolences to the family of the late Budget Chief and Camarines Sur Representative Rolando Andaya Jr.In a statement, she said Andaya, 53, was “dedicated to serving the Filipino people” and... Read More
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has identified his priority areas as the new chief of the agency.During the turnover ceremony on Wednesday, which was only broadcast on Friday, Pascual cited that his priorities as new DTI chief would are the development... Read More
MANILA – The performance of the domestic manufacturing sector has improved for five consecutive months in June this year, according to S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI).Philippine manufacturing PMI in June recorded a score of 53.8 amid a solid rise... Read More
MANILA – Industry players implemented a minimal price rollback on liquefied petroleum gas (LPG) for July.Starting at 12:01 a.m. Friday, Petron implemented a decrease of PHP0.40 per kilogram on LPG. It also slashed AutoLPG prices by PHP0.22 per liter.“These reflect the international... Read More
MANILA – Global economic growth concerns and Federal Reserve’s key rate decisions again hit the main equities index but the local currency managed to end sideways against the US dollar after ending the day at 54-level.The Philippine Stock Exchange index (PSEi) shed by 2.34 percent, or... Read More
MANILA – The Bangko Sentral ng Pilipinas (BSP) is expected to announce a more aggressive key rate hike in the coming months to help temper not just the accelerating inflation rate but the peso depreciation as well.In a virtual briefing on Thursday, Sun Life Investment Management and Trust... Read More
MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, is urging the new administration to continue policies and measures of the Anti-Red Tape Authority (ARTA).In a statement Thursday, PCCI president George Barcelon hoped the... Read More
MANILA – Sustained jumps in oil prices and their impact on power rates are expected to push mainly the June 2022 domestic inflation rate to between 5.7 percent to 6.5 percent.In a statement on Friday, the Bangko Sentral ng Pilipinas (BSP) said “higher prices of key food items and peso... Read More
MANILA – Engines of KTM motorcycles are now being produced in the country through the partnership of KTM Asia Motorcycle Manufacturing, Inc. (KAMMI) and Ayala-led Integrated Microelectronics Inc. (IMI), Adventure Cycle Philippines, Inc. (ACPI) president Andre Angelo Santos said.Santos said... Read More
MANILA – Incoming Finance chief Benjamin Diokno said the depreciation of the peso is not that bad as it remains in the middle of the pack compared to other currencies of Asian neighbors, adding the local currency is still competitive.The local currency weakened to 55-level against the US... Read More
ANKARA – Oil prices dropped on Wednesday as heightened concerns of a recession in big economies outweighed misgivings of tight global supplies due to sanctions on Russia.International benchmark Brent crude was trading at $113.50 per barrel at 0615 GMT for a 0.26 percent decrease after closing... Read More
The Philippine News Agency is a web-based newswire service of the Philippine government under the supervision of the News and Information Bureau (NIB) of the Presidential Communications Office (PCO).