Business

Firm to supply renewable energy in Bataan

MANILA – The Peninsula Electric Cooperative, Inc. (PENELCO) has diversified its power sources to be distributed in its franchise areas, now tapping solar power through a unit of renewable energy firm Alternergy Holdings Corp.In a statement Tuesday, Alternergy said its subsidiary Solana Solar... Read More

Home needs retailer continues store network expansion

MANILA – AllHome, the country’s pioneering one-stop full-line home center, is ramping up expansion as it banks on sustained optimism among consumers in the post-pandemic scenario.“The country at large has successfully demonstrated and sustained its optimism in the post-pandemic... Read More

 PSEi rises anew on improved sentiment; peso almost unchanged

MANILA – Risk-on sentiments continued to lift the local bourse’s main index on Tuesday while the peso finished sideways against the US dollar after touching the 56-level mid-day.All counters in the local stock market finished higher, led by the Philippine Stock Exchange index (PSEi),... Read More

10-year T-bond rate drops ahead of BSP meeting

MANILA – The rate of 10-year Treasury bond (T-bond) declined on Tuesday on markets’ preference for long-term debt papers.The average rate of the debt paper declined to 5.813 percent from the previous 6.865 percent.The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion... Read More

C. Luzon's 7.9% inflation rate highest since 2018

CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon climbed to 7.9 percent in July 2022, the highest annual rate recorded in the region since January 2018, the Philippine Statistics Authority-Regional Statistical Services Office (PSA-RSSO) reported on Tuesday.The latest figure... Read More

PH stocks up after US rally, peso slips

MANILA – The main equities index finished the week’s first trading day higher on hopes for continued deceleration of US inflation rate but the peso weakened against the US dollar.The Philippine Stock Exchange index (PSEi) rose by 0.57 percent, or 38.18 points, to 6,737.84 points.All... Read More

T-bill rates up ahead of BSP meeting

MANILA – The rates of Treasury bills (T-bills) rose on Monday ahead of the rate-setting meeting of the Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB).The average rate of the 91-day paper increased to 1.874 percent, the 182-day to 3.226 percent, and the 364-day to... Read More

PBBM sugar import plan to protect consumers, farmers: Concepcion

MANILA – Go Negosyo founder Joey Concepcion supports the plan of President Ferdinand “Bongbong” Marcos Jr. to import up to 150,000 metric tons (MT) of sugar only if the supply is depleted by October.Concepcion also backed the President’s decision to block the 300,000 MT sugar... Read More

Pump prices set to go down anew this week

MANILA – Industry players will again roll back oil prices on Tuesday morning.In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will cut gasoline prices by PHP0.10 per liter and PHP1.05 per liter for diesel.Caltex, Seaoil, and Shell will also... Read More

EJAP, SMC host forum for Marcos economic managers

MANILA – The Economic Journalists Association of the Philippines (EJAP) and the San Miguel Corp. (SMC) are hosting the first hybrid forum during the pandemic for the Marcos administration’s economic managers.The 2022 EJAP-SMC economic forum, carrying the theme “The Road Ahead:... Read More

Vehicle sales up double-digit in July ‘22

MANILA – Sales of automotive vehicles in July this year improved by 29.4 percent to 27,813 units from 21,498 units in the same month in 2021.The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) on Monday reported that the... Read More

Lower sugar prices seen in September as milling season begins

MANILA – The Philippine Chamber of Agriculture and Food Inc. (PCAFI) said sugar prices in the domestic market should start to go down by September as milling operations begin next week.In a radio interview Saturday, PCAFI president Danilo Fausto said sugar millers have a combined capacity of... Read More

OPEC revises down oil demand forecast for 2022

ANKARA – The Organization of the Petroleum Exporting Countries (OPEC) on Thursday slightly revised its global oil demand estimates for 2022 to average 100.03 million barrels per day (bpd), according to OPEC's latest monthly oil market report.Although the forecast marks a year-on-year rise of... Read More

Bank upgrades digital platforms as more people use digital apps

MANILA – An executive of Bank of the Philippine Islands (BPI) said additional features will be introduced to their digital platforms as more people continue to use digital applications despite the ability to go to the banks as the economy continues to reopen.In a virtual briefing on Friday,... Read More

Toyota opens Asia’s first mobility solution firm in PH

MANILA – Japanese carmaker Toyota has chosen the Philippines for its first mobility solution company in Asia.Toyota Motor Philippines Corp. (TMP) inaugurated in Taguig City on Friday its new wholly owned subsidiary Toyota Mobility Solutions Philippines, Inc. (TMSPH), the first of its kind in... Read More

Stocks up on positive growth expectations, peso weakens

MANILA – The local stock barometer finished the week up partly on the positive growth expectations of Fitch Solutions on the domestic economy’s 2022 economic output but the peso weakened against the US dollar.The Philippine Stock Exchange index (PSEi) gained 0.28 percent, or 18.98... Read More

DTI eyes to rationalize list of basic goods, prime commodities

MANILA – After issuing the new suggested retail prices (SRPs) for basic goods and prime commodities, Department of Trade and Industry (DTI) Secretary Alfredo Pascual plans to review and streamline the list.Pascual told reporters Friday that he wants to rationalize the SRP list, focusing on... Read More

42% of major firms see Japan economy slowing down

TOKYO – Around 42 percent of major companies in Japan expect the country's economy to slow down over the next 12 months, up from just 5 percent one year ago, as they struggle to cope with surging commodity costs and the yen's weakness, a Kyodo News survey showed Thursday.The survey of 114... Read More

Globe to sell 7K towers with leaseback agreements

MANILA – Local telecommunications company Globe Telecom, Inc. (Globe) is planning to sell and lease back more than 7,000 of its towers across the country to various tower companies to raise capital while ensuring access to these necessary infrastructures.In a disclosure to the Philippine Stock... Read More

DTI eyes to tweak definition of MSMEs amid digitalization

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said there is an ongoing initiative to tweak the definition of micro, small and medium enterprises (MSMEs) amid changes in the way entrepreneurs do business because of digitalization.“We are trying to come up with... Read More