PSBank: Tap mobile, online platforms during the holidays

MANILA – PSBank on Friday advised its clients to tap the bank's online and mobile channels, especially during the holidays for the Holy Week and the Araw ng Kagitingan (Day of Valor).All branches of PSBank nationwide will be closed from April 6 to 7 (Maundy Thursday and Good Friday) and on... Read More

Big-time rollback on LPG prices for April

MANILA – Oil companies have implemented a big-time price rollback on liquefied petroleum gas (LPG) starting April 1.In separate advisories, Petron and Phoenix LPG said they slashed LPG prices by PHP9.20 per kg., while Solane said it cut LPG prices by PHP9.18 per kg.The adjustments translated... Read More

GoTyme Bank offers 5% interest rate on savings product

MANILA –Digital financial institution GoTyme Bank now offers a five percent annual savings interest rate through its Go Save product.Nate Clarke, GoTyme Bank President and Chief Executive Officer (CEO), in a virtual briefing, said that aside from the high interest rate on their savings... Read More

PH stocks snap 3-day rally; peso ends sideways

MANILA – The local bourse’s main index reversed its path on Friday and ended in the negative territory but the peso finished the week sideways against the United States dollar. The Philippine Stock Exchange index (PSEi) declined by 2.18 percent, or 145.07 points, to 6,499.68 points. All... Read More

BSP's 28-day bill rate up anew ahead of holidays

MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bill rose on Friday and the high investors demand resulted in oversubscription.Data released by the BSP showed that the average rate of the debt paper inched up to 6.8199 percent from 6.7650 percent during the auction... Read More

Napocor to stop acquiring diesel gensets

MANILA – The National Power Corp. (Napocor) on Friday expressed its support for the energy chief’s directive to stop acquiring diesel generating sets (gensets) to accelerate the renewable energy program in its Small Power Utilities Group (SPUG) power plants.In a statement Friday, Napocor... Read More

Fitch: PH’s renewable energy policy reforms gaining ground

MANILA – The Philippine government’s policy reforms and measures in strengthening the renewable energy (RE) sector are gaining ground amid the increased interest from the private sector to invest in RE in the country.In Fitch Solutions Country Risk & Industry Research’s recent... Read More

Financial market developments abroad to affect PH hot money flows

MANILA –Developments on United States inflation rate and price movements of oil and other commodities in the global market are seen to contribute to the movements of registered foreign portfolio investments to the Philippines in the coming months.On Friday, the Bangko Sentral ng Pilipinas... Read More

PH residential real estate prices up in Q4 '22

MANILA –Prices of residential real estate in the Philippines registered faster year-on-year growth in the last quarter of 2022 but slower quarter-on-quarter, except for the townhouses outside the National Capital Region (NCR).Residential Real Estate Price Indices (RREPI) data released by the... Read More

BSP eyes March inflation at 7.4% to 8.2%

MANILA– The easing of the prices of domestic petroleum and some food items is seen to contribute to the possible slowdown of the inflation rate in March to between 7.4 percent and 8.2 percent, the Bangko Sentral ng Pilipinas (BSP) said.In a statement on Friday, the BSP said the recent rollback... Read More

PSEi up as global banking worries wane; peso almost flat

MANILA – Risk-on sentiments returned to the local bourse as worries about the banking issues overseas waned a bit, resulting in another rise for the main index on Thursday, while the peso ended sideways against the greenback.The Philippine Stock Exchange index (PSEi) rose by 0.21 percent, or... Read More

Businesses upbeat as economy fully reopens

MANILA – The full reopening of the Philippine economy has lifted investors’ confidence, results of the first quarter 2023 Business Expectations Survey (BES) of the Bangko Sentral ng Pilipinas (BSP) indicate.In a briefing on Thursday, BSP Monetary Policy Sub-Sector officer-in-charge... Read More

Oil prices rise with higher demand in US

ANKARA–Oil prices increased on Thursday amid higher demand for crude in the United States.International benchmark Brent crude traded at USD77.68 per barrel at 9:15 a.m. local time (0615 GMT), a 0.12 percent increase from the closing price of USD77.59 a barrel in the previous trading session.At... Read More

UK offers £8-B British Investment Partnerships funding for PH

MANILA – The United Kingdom (UK) is looking at viable green energy and infrastructure projects in the Philippines where its £8 billion fund from the British Investment Partnerships (BIP) can be invested.UK Minister for Indo-Pacific Anne-Marie Trevelyan launched the BIP in the Philippines... Read More

Danish firm investing $5-B for offshore wind projects in PH

MANILA – Danish firm Copenhagen Infrastructure Partners (CIP) is investing USD5 billion to develop three offshore wind energy projects in the Philippines with a potential capacity of 2,000 megawatts (MW).Department of Energy (DOE) Secretary Raphael Lotilla and CIP associate partner Przemek... Read More

Infra spending, debt issuance to hike nat'l gov’t liabilities

MANILA – The issuance of United States dollar or euro-denominated bonds and the government’s bid to sustain the rise of its infrastructure investments to boost the economy’s expansion are expected to further increase government liabilities, an economist said.In a commentary on... Read More

BSP's TDF rates up anew

MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose on Wednesday and demand was strong ahead of the Holy Week holidays.The average rate of the seven-day facility rose to 6.6563 percent from the 6.6152 percent during the auction last March 22, and... Read More

Chemical, food maker posts record-high earnings in 2022

MANILA – Filipino-owned food, chemicals, plastics and consumer product manufacturer D&L Industries has registered record-high earnings in 2022 amid volatilities and challenges in the global economy.In a virtual briefing on Wednesday, president and chief executive officer (CEO) Alvin Lao... Read More

PH stocks up amid US interest rate rise worries; peso ends flat

MANILA – The local stock barometer closed higher Wednesday as investors worry about the impact of higher interest rates on the United States economy, while the peso ended unchanged against the US dollar. The Philippine Stock Exchange index (PSEi) gained 0.42 percent, or 27.82 points, to... Read More

Meralco rolls out 300-MW emergency power supply deal

MANILA – The Manila Electric Company (Meralco) on Wednesday said it has executed the emergency power supply agreement (EPSA) with South Premiere Power Corp. (SPPC) for a 300-megawatt (MW) baseload supply.In a statement, Meralco said the EPSA is effective from March 26, 2023 to March 25,... Read More