Business

Firm to roll out 20 e-vehicle charging hubs in Luzon

MANILA – Ayala Land, Inc. (ALI) has announced it will activate at least 20 e-vehicle charging stations in Luzon as it supports the government’s goal to develop the country’s electric vehicle industry.The company launched its integrated e-vehicle charging stations on Thursday,... Read More

Peso strengthens, PSEi sustains rise amid risk-on sentiments

MANILA – Risk-on sentiments sustained the rise of the local bourse’s main index on Thursday while the peso followed and improved against the US dollar.The Philippine Stock Exchange index (PSEi) gained by 1.78 percent, or 109.05 points, to 6,230.58 points.All Shares trailed with a jump of... Read More

PEZA-registered IT-BPM firms may transfer to BOI until year-end

MANILA – The Philippine Economic Zone Authority (PEZA) said registered information technology and business process management (IT-BPM) in economic zones may transfer their registration to the Board of Investments (BOI) until December 31 this year to enjoy the 100-percent work-from-home (WFH)... Read More

Gov’t posts P179.8-B budget gap in September

MANILA – Lower year-on-year growth of spending against revenues resulted in the drop in the government’s budget gap in September 2022 to PHP179.8 billion from year-ago’s PHP180.9 billion.Data released by the Bureau of the Treasury (BTr) on Wednesday showed that total expenditures... Read More

TDF rates up anew, 7-day facility posts undersubscription

MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose anew on Wednesday and the shorter tenor facility registered undersubscription ahead of the long weekend holiday.Data released by the central bank showed that the average rate of the seven-day... Read More

PSEi up on positive earnings reports; peso ends stronger

MANILA – The local bourse’s main index gained anew on Wednesday amidst the drop in United States bond yields while the peso improved against the US dollar.The Philippine Stock Exchange index (PSEi) rose by 0.79 percent, or 48.12 points, to 6,121.53 points.All Shares followed with a jump... Read More

Bank exec eyes 2.8M downloads on lifestyle, payment app

MANILA – An official of the Bank of the Philippine Island (BPI) forecasts 2.8 million downloads on its latest lifestyle and payment app, Vybe, until the end of the year.In a virtual briefing on Wednesday, BPI Digital Partnerships and Ecosystems head Frederick Faustino said downloading of the... Read More

PH gets 4 investment leads in SoKor investment mission

MANILA – At least four big companies from South Korea are interested to invest in the country in the coming months following the recent investment mission of the Philippine Economic Zone Authority (PEZA) and Aboitiz InfraCapital in Seoul.PEZA officer-in-charge Deputy Director General for... Read More

Firm installs infra for planned wind power project in Quezon

MANILA – Renewable energy firm Alternergy has installed a meteorological (met) mast in Alabat Island, Quezon in preparation for its planned 50-megawatt (MW) Alabat wind power project.In a statement Wednesday, Alternergy said the installation of its latest met mast is in line with the... Read More

BSP updating circular on legal tender limit of P20 coin

MANILA – The Bangko Sentral ng Pilipinas (BSP) is now updating its circular regarding the legal tender limit for the PHP20 coin, the latest addition to the country’s legal tenders.In an advisory issued on Wednesday, the central bank urged the public to use coins that are currently in... Read More

PEZA eyes more high-tech investments from Taiwan

MANILA – The Philippine Economic Zone Authority (PEZA) aims to attract more investments in high-technology industries from Taiwan following the country’s investment mission in the East Asian economy this week.In a Facebook post, PEZA officer-in-charge and Deputy Director General Tereso... Read More

BOC-Port of Clark exceeds collection target

CITY OF SAN FERNANDO, Pampanga – The Bureau of Customs (BOC)-Port of Clark has surpassed its October collection target, even a few days before the month's end.BOC-Clark has exceeded its monthly target since January this year.A report from the Collection Division showed that the port's revenue... Read More

BTr partially awards 13-year T-bond

MANILA – The Bureau of the Treasury (BTr) partially awarded on Tuesday the 13-year Treasury bond (T-bond) as demand remained strong.It offered the debt paper for PHP35 billion and bids reached PHP46.988 billion.However, the auction committee only awarded PHP26.139 billion worth of T-bond.The... Read More

BSP vows continued monitoring of risks on inflation

MANILA – The Bangko Sentral ng Pilipinas (BSP) said it will continue to monitor risks to inflation as the rate of price increase remains elevated, and backs targeted support to vulnerable sectors.In a statement on Tuesday, the central bank said it supports the national government’s... Read More

PSEi up anew, peso finishes sideways vs. US dollar

MANILA – Bargain hunting again boosted the local equity market’s main gauge on Tuesday while the peso finished the day sideways against the US dollar.The Philippine Stock Exchange index (PSEi) rose by 0.74 percent, or 44.62 points, to 6,073.41 points.All Shares followed with a jump of... Read More

Integrating climate action into economic plan necessary: NEDA

MANILA – Integrating climate action into the country’s development plan now becomes a necessity amid impacts of climate change, Socioeconomic Planning Secretary Arsenio Balisacan said.In his keynote speech at the launching of World Bank Group’s Philippine Country Climate and... Read More

PH, France eye 10th JEC meeting in 2023

MANILA – The Philippines and France are postponing this year’s Joint Economic Committee (JEC) meeting initially set for the end of November, French Ambassador to the Philippines Michele Boccoz told reporters.In an interview Monday, Boccoz said the 10th JEC meeting between the Philippines... Read More

PH, EU officials to tackle GSP+ status in Brussels this week

MANILA – Officials from the Philippines and the European Union (EU) will meet in Brussels, Belgium this week to discuss the status of the Philippines’ EU Generalized Scheme of Preferences Plus (GSP+).In a document obtained by the Philippine News Agency, Department of Trade and Industry... Read More

Gov't firm on preventing PHP from touching 60-level: DOF

MANILA – Finance Secretary Benjamin Diokno is open to the possibility of the peso touching the 60-level against the US dollar but said interventions will continue to prevent the local unit from overshooting the said level.“Pwede naman kasi mag-exceed ng one day tapos babalik naman sya... Read More

BTr partially awards T-bills across-the-board

MANILA – After fully rejecting all bids for Treasury bills (T-bills) during the auction last week, the Bureau of the Treasury (BTr) partially awarded the debt paper across-the-board despite the oversubscription and rate upticks on Monday.The BTr offered the debt paper for PHP5 billion each... Read More