Business
BTr fully awards reissued T-bonds
March 12, 2024, 6:25 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued Treasury bonds during Tuesday’s auction. The T-bonds offering amounted to PHP30 billion but it was more than thrice oversubscribed as total tenders reached PHP96.071 billion. The 10-year debt securities hae a remaining term… Read More
Mild deflation in Ilocos Sur continues to benefit consumers
March 12, 2024, 5:50 pm
LAOAG CITY – Consumers are benefiting from the four consecutive months of deflation in Ilocos Sur until February this year, authorities said Tuesday. The rate of price increases in Ilocos Sur has been in negative territory since November 2023, with the February level at negative 1.1 percent,… Read More
'Trabaho Para sa Bayan' IRR signed; focus on high-quality jobs
March 12, 2024, 4:50 pm
MANILA – The country’s labor market is exhibiting signs of steady progress amid domestic and external risks, boosted by a historic low 3.1-percent unemployment rate in December 2023. On Tuesday, the National Economic and Development Authority (NEDA) led the signing of the implementing rules… Read More
Turkish coffee exports tripled over 5 years
March 12, 2024, 4:35 pm
ANKARA – Türkiye exported 800,600 tons of coffee to 146 countries last year, generating USD57.4 million in revenue, as exports of the commodity tripled over the last five years, according to recent data published by the country’s statistical bureau TurkStat. Revenues from coffee exports… Read More
Bicol inflation rate decelerates to 2.9% in February
March 12, 2024, 3:38 pm
LEGAZPI CITY – The Philippine Statistics Authority 5 (PSA Bicol) reported on Tuesday that the inflation rate in the region slowed down from 3.1 percent in January to 2.9 percent in February. Based on the summary inflation report, PSA Regional Director Cynthia Perdiz said the February 2023… Read More
Apl.de.Ap Foundation, ADB, US firm to give EV training in PH
March 12, 2024, 2:38 pm
MANILA – The foundation of Filipino-American rapper and singer Allan Pineda a.k.a Apl.de.Ap has partnered with the Asian Development Bank (ADB), and Arizona-based Legacy EV, LLC to equip young Filipinos with technical know-how on the electric vehicle (EV) sector. Apl.de.Ap Foundation… Read More
Freeport Area of Bataan registers P14-B in investments in 2023
March 12, 2024, 2:25 pm
MANILA – The Authority of the Freeport Area of Bataan (AFAB) has registered PHP14-B in investments, most of which came in since Administrator and CEO Mohammed Hussein P. Pangandaman assumed office in May 2023. The San Miguel conglomerate led local locators with investments going into the… Read More
Global arms trade shrinks by 3.3% in 2019-2023
March 12, 2024, 2:05 pm
ISTANBUL – The volume of the international arms trade contracted by 3.3 percent between 2019 and 2023 compared to the preceding five-year period, according to a report released on Monday. However, during the same period, major arms imports into European countries increased by 94 percent, the… Read More
PSEi takes cue from weak US markets, peso ends strong
March 11, 2024, 9:24 pm
MANILA – The Philippine Stock Exchange index (PSEi) fell to 6,800-level on Monday taking cues from US markets, while the peso strengthened to 55.37 to the greenback. “Along with the Asian markets, the local bourse dropped by 69.97 points (1.01 percent) to 6,872.24 following the negative cues… Read More
US biz mission brings $1-B investments, to train 30M Filipinos on AI
March 11, 2024, 8:57 pm
MANILA – American companies are eyeing over USD1 billion of investments in the Philippines, a commitment brought by the United States Presidential Trade and Investment Mission (PTIM). US Secretary of Commerce Gina Raimondo is leading the PTIM here from March 11 to 12, being participated in by… Read More
PH economic czar pitches trade, assistance deals with US
March 11, 2024, 8:47 pm
MANILA – A Philippine economic official said the government has pitched to the United States the possible forging and renewal of trade and assistance deals to facilitate Philippine exports to the United States market. In a briefing in Parañaque City on Monday, Special Assistant to the President… Read More
Oil prices down over demand concerns in China
March 11, 2024, 6:33 pm
ISTANBUL – Oil prices decreased on Monday amid concerns over the demand outlook in China, the world's biggest crude importer, following data released last week. International benchmark Brent crude traded at USD81.97 per barrel at 10.28 a.m. local time (0728GMT) for a 0.13 percent decline from… Read More
PBBM appoints new DOF senior officials
March 11, 2024, 6:19 pm
MANILA – President Ferdinand R. Marcos Jr. has appointed new senior officials in the Department of Finance (DOF) who would support Secretary Ralph Recto in ensuring long-term fiscal sustainability and accelerating inclusive economic growth. In a statement on Monday, the DOF said Rolando… Read More
Bitcoin hits new record level of $71,500
March 11, 2024, 6:06 pm
ISTANBUL – The price of Bitcoin hit a new record level of USD71,500 on Monday, increasing by 2.7 percent on a daily basis. Closing last week at around USD69,000, the biggest cryptocurrency hit the USD71,000 level, and it is at around USD71,550 as of 11.30 a.m. (GMT0830). Bitcoin has been on an… Read More
BTr fully awards T-bills
March 11, 2024, 5:02 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded bids for Treasury bills (T-bills) during Monday's auction. The 90-, 182-, and 364-day T-bills fetched average rates of 5.772 percent, 5.966 percent, and 6.087 percent, respectively, slightly lower than last week's average auction yield.… Read More
LandBank, OFBank, DMW partner to ramp up delivery of OFW claims
March 11, 2024, 4:38 pm
MANILA – The Land Bank of the Philippines (LandBank), the Overseas Filipino Bank (OFBank), and the Department of Migrant Workers (DMW) signed an agreement to expedite the delivery of indemnity claims to overseas Filipino workers (OFWs) displaced by the bankruptcies of Saudi Arabian construction… Read More
Below P1 oil price rollback on March 12
March 11, 2024, 3:50 pm
MANILA – Pump prices will be lower by less than PHP1 per liter starting Tuesday. In separate advisories Monday, Cleanfuel, Caltex, Jetti, Petro Gazz, Seaoil and Shell announced they will cut gasoline prices by PHP0.50 per liter and PHP0.25 per liter for diesel prices. Caltex, Seaoil and Shell… Read More
BCDA bags P86-B deal from biz mission in Australia
March 11, 2024, 3:03 pm
MANILA – The Bases Conversion and Development Authority (BCDA) on Monday announced that it sealed a PHP86 billion (USD1.53 billion) worth of investments from its recent business mission in Australia. The business mission coincided with the official visit of President Ferdinand R. Marcos Jr. to… Read More
FDI net inflows up 30% in December 2023
March 11, 2024, 2:51 pm
MANILA – Foreign direct investments (FDI) net inflow went up by 29.9 percent in December last year. Data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed that FDI net inflows during the month amounted to USD826 million from USD636 million in December 2022. "FDI increased mainly… Read More
PSA, DSWD partner to bring PhilSys services to 4Ps beneficiaries
March 11, 2024, 1:18 pm Updated on March 11, 2024, 7:34 pm
MANILA – The Philippine Statistics Authority (PSA) and the Department of Social Welfare and Development (DSWD) partnered up to bring the services of the Philippine Identification System (PhilSys) to the Family Development Session (FDS) of Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries.… Read More
