Business

Local production, importation keep pork supply ample despite ASF

Local production, importation keep pork supply ample despite ASF

January 24, 2024, 6:23 pm

MANILA – Local hog raisers have assured consumers of steady supply of pork despite a notable decline in the country’s swine inventory after almost five years of battling African swine fever (ASF). In an interview with the Philippine News Agency on Wednesday, Rolando Tambago, president of the… Read More

DOF chief: No new taxes this year

DOF chief: No new taxes this year

January 24, 2024, 5:02 pm Updated on January 25, 2024, 7:36 pm

MANILA – The government will not rely on the imposition of new taxes to meet its revenue target for this year and will instead focus on improving the collection efficiency of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC), Department of Finance (DOF) Secretary Ralph Recto… Read More

Restoring IPAs’ power, longer sunset provision eyed

Restoring IPAs’ power, longer sunset provision eyed

January 24, 2024, 4:52 pm

MANILA – President Ferdinand R. Marcos Jr.’s economic czar is taking major steps to further improve the investment climate in the country by addressing the concerns of both local and foreign investors. Office of the Special Assistant to the President for Investment and Economic Affairs… Read More

Local shares mirror upbeat US markets, rosy BPO outlook; strong peso

Local shares mirror upbeat US markets, rosy BPO outlook; strong peso

January 23, 2024, 8:00 pm

MANILA – Both local shares and currency improved on Tuesday's trading mirroring upbeat United States markets and supported by the rosy outlook of the Philippine business process outsourcing (BPO) industry. The benchmark Philippine Stock Exchange index (PSEi) reverted to 6,600 level, gaining by… Read More

Bank of Japan continues to implement ultra-loose monetary policy

Bank of Japan continues to implement ultra-loose monetary policy

January 23, 2024, 7:50 pm

ISTANBUL – Bank of Japan (BoJ) on Tuesday decided to continue its ultra-loose monetary policy by keeping interest rate at minus 0.1 percent. It will purchase "a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero… Read More

BSP: PH banking system remains sound

BSP: PH banking system remains sound

January 23, 2024, 7:41 pm

TAGAYTAY – The Bangko Sentral ng Pilipinas (BSP) said banks remain optimistic with growth projections in assets, loans, and deposits. In a media information session over the weekend, BSP deputy governor Chuchi Fonacier said that based on the latest banking sector outlook survey, respondent banks… Read More

Trend Micro calls for adoption of modern security controls

Trend Micro calls for adoption of modern security controls

January 23, 2024, 7:08 pm

MANILA – Global cybersecurity firm Trend Micro Inc. on Tuesday urged enterprises and the government to use modern security controls amid the anticipated proliferation of more cyberattacks. At a press briefing at the New World Hotel in Makati City, Trend Micro Philippines senior security… Read More

PEZA partners with banks to lure more Japanese investors

PEZA partners with banks to lure more Japanese investors

January 23, 2024, 6:18 pm

MANILA – The Philippine Economic Zone Authority (PEZA) aims to continue attracting Japanese investors into ecozones by partnering with Sumitomo Mitsui Banking Corp. (SMBC) and the Rizal Commercial Banking Corp. (RCBC). PEZA Director General Tereso Panga, SMBC managing executive officer and… Read More

BTr fully awards Treasury bonds

BTr fully awards Treasury bonds

January 23, 2024, 5:44 pm

MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the new 10-year Treasury bonds (T-bonds). The coupon rate was set at 6.25 percent, which is broadly in line with prevailing secondary market levels. The auction received strong demand, as total submitted bids amounted to PHP102.2… Read More

PH halal blueprint targets to double output by 2028

PH halal blueprint targets to double output by 2028

January 23, 2024, 4:30 pm

MANILA – The Department of Trade and Industry (DTI) launched Tuesday the Philippine Halal Industry Development Strategic Plan, which aims to turn the Philippines into a premier halal hub in the Asia Pacific region by 2028. At the launching of the halal industry development blueprint in Pasay… Read More

NEDA urges Congress to pass crucial bills

NEDA urges Congress to pass crucial bills

January 23, 2024, 3:42 pm

MANILA – The National Economic and Development Authority (NEDA) on Tuesday urged Congress to pass crucial bills as the 19th Congress resumed its second regular session on Monday. In a statement, the NEDA said these measures include the bills on the Department of Water Resources, Open Access in… Read More

BSP’s Monetary Board OKs $3.32-B foreign borrowings in Q4 2023

BSP’s Monetary Board OKs $3.32-B foreign borrowings in Q4 2023

January 22, 2024, 7:59 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) said Monday the Monetary Board has approved USD3.32 billion worth of medium- to long-term (MLT) foreign borrowings in the fourth quarter of 2023. The public sector’s foreign borrowings from October to December 2023 jumped by 65.8 percent from the… Read More

Recto: PH to welcome US investors

Recto: PH to welcome US investors

January 22, 2024, 7:45 pm

MANILA – Finance Secretary Ralph Recto has assured United States officials of the Philippines’ strong commitment to roll out a welcoming "red carpet" to potential investors in the country as directed by President Ferdinand R. Marcos Jr. In a statement, the Finance department said Recto met… Read More

PSEi rebounds, peso weakens to 56-level on Monday

PSEi rebounds, peso weakens to 56-level on Monday

January 22, 2024, 7:24 pm

MANILA – Local shares improved while the Philippine peso depreciated to the PHP56-level during the week’s kick-off. The Philippine Stock Exchange index (PSEi) gained 79.33 points to close at 6,583.47 on Monday, with All Shares increasing by 28.04 points to 3,479.82. “Local shares bounced… Read More

Gasoline, diesel prices to increase Jan. 23

Gasoline, diesel prices to increase Jan. 23

January 22, 2024, 7:00 pm

MANILA – Oil firms announced price adjustments on petroleum products starting 12:01 a.m. of Jan. 23. In separate advisories, Caltex, Cleanfuel, Flying V, Jetti, Petro Gazz, Petron, PTT, Seaoil, Shell, and Unioil said they will implement a price hike on gasoline by PHP1.30 per liter and diesel by… Read More

ITBPM jobs seen to breach 2-M mark in 2025

ITBPM jobs seen to breach 2-M mark in 2025

January 22, 2024, 6:56 pm

MANILA – Employment created by the information technology and business process management (ITBPM) sector is expected to hit the 2-million mark in 2025, IT and Business Process Association of the Philippines (IBPAB) president and chief executive officer Jack Madrid said Monday. Madrid told… Read More

BTr raises P15 billion from Treasury bills auction

BTr raises P15 billion from Treasury bills auction

January 22, 2024, 6:39 pm

MANILA – The national government raised the planned PHP15 billion from the Treasury bills (T-bills) auction on Monday. The Bureau of the Treasury (BTr) fully awarded bids for T-bills at today's auction. The 91-, 182-, and 364-day T-bills fetched average rates of 5.306 percent, 5.766 percent and… Read More

New SBMA chief eyes more hotels, infra projects to attract investors

New SBMA chief eyes more hotels, infra projects to attract investors

January 22, 2024, 4:46 pm

SUBIC BAY FREEPORT – Businessman Eduardo Aliño officially assumed post on Monday as chairman and administrator of the Subic Bay Metropolitan Authority (SBMA). During his first press conference as SBMA head, Aliño noted the vast potential of Subic which should be given priority for development.… Read More

BSP backs immediate passage of AFASA bill

BSP backs immediate passage of AFASA bill

January 22, 2024, 4:35 pm

TAGAYTAY – The Bangko Sentral ng Pilipinas (BSP) is hopeful that the proposed Anti-Financial Account Scamming Act or AFASA bill, which will allow the BSP to examine financial accounts involved in prohibited acts, will be passed by May this year. "Senator [Mark] Villar said by May daw kaya.… Read More

BSP unlikely to ease policy rates in first half of 2024

BSP unlikely to ease policy rates in first half of 2024

January 21, 2024, 11:30 pm

TAGAYTAY – The Bangko Sentral ng Pilipinas (BSP) will not ease policy rates in the first half of the year despite the downward trend of headline inflation. At a media information session on Saturday, BSP Governor Eli Remolona Jr. said that while inflation is already on a downward trend, the… Read More