Business

LandBank sees rise in online investors

LandBank sees rise in online investors

April 2, 2024, 4:02 pm

MANILA – State-run Land Bank of the Philippines (LandBank) said more Filipino retail investors have utilized digital investment platforms to invest in retail treasury bonds (RTBs). In a statement on Tuesday, LandBank said it sold significantly more online placements in the recently concluded… Read More

Producer price index for manufacturing declines in Feb

Producer price index for manufacturing declines in Feb

April 2, 2024, 1:36 pm

MANILA – The producer price index (PPI) for manufacturing declined at a faster pace in February this year, the Philippine Statistics Authority (PSA) said on Tuesday. In a report, the PSA said the PPI for manufacturing declined by 1.2 percent in February, slightly faster than the 1.1 percent… Read More

Local shares up on improved regional sentiment; peso closes sideways

Local shares up on improved regional sentiment; peso closes sideways

April 1, 2024, 8:51 pm

MANILA – The Philippine Stock Exchange index (PSEi) returned from the long Holy Week break recording new highs, while the peso closed sideways Monday. The PSEi finished the day at 6,979.81, or 1.11 percent higher than the last trading on March 26. All Shares also increased 0.80 percent to… Read More

PH hits record-high goods, services exports in 2023 at $104B

PH hits record-high goods, services exports in 2023 at $104B

April 1, 2024, 8:19 pm

MANILA – Despite global trade challenges, Philippine exports surpassed the USD100-billion mark in 2023, an all-time high revenue for the country’s outbound trade. The Department of Trade and Industry (DTI) said in a statement Monday that based on the balance of payments (BOP) from the Bangko… Read More

Boutique airline transfers hub from NAIA to Clark

Boutique airline transfers hub from NAIA to Clark

April 1, 2024, 7:47 pm

CLARK, Pampanga – Boutique airline Sunlight Air has officially made Clark International Airport (CRK) its new hub with an inaugural flight to Coron on Monday afternoon. Sunlight Air transferred its hub from the Ninoy Aquino International Airport (NAIA) to redefine its services and provide the… Read More

Worries over tighter oil supply drive price rise

Worries over tighter oil supply drive price rise

April 1, 2024, 7:45 pm

ANKARA (AA) – Oil prices increased on Monday with worries over tighter oil supply from tension in the Middle East and the Russia-Ukraine war. International benchmark Brent crude traded at USD87.24 per barrel at 9:31 a.m. local time (0631 GMT), a 32 percent rise from the closing price of… Read More

PH investment climate improving – lawmaker

PH investment climate improving – lawmaker

April 1, 2024, 7:18 pm

MANILA – A House leader on Monday said the overall investment climate in the Philippines is improving especially with the administration's efforts to shore up the economy under the Bagong Pilipinas brand of governance. House Deputy Majority Leader and Iloilo 1st District Rep. Janette Garin made… Read More

BTr fully awards T-bills

BTr fully awards T-bills

April 1, 2024, 6:50 pm

MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 5.704 percent, 5.865 percent, and 5.965 percent, respectively, all lower than previous auction and prevailing secondary market rates.… Read More

Benipayo is new Light Rail Manila Corp. general manager

Benipayo is new Light Rail Manila Corp. general manager

April 1, 2024, 5:10 pm

MANILA – The Light Rail Manila Corporation (LRMC) --the private operator of the Light Rail Transit Line 1 (LRT-1)-- welcomed its former chief operating officer Enrico Benipayo as its new general manager. In a statement on Monday, the LRMC said Benipayo will lead the company’s day-to-day… Read More

Oil price adjustments set April 2

Oil price adjustments set April 2

April 1, 2024, 4:38 pm

MANILA – Oil firms will adjust prices of petroleum products starting 12:01 a.m. on Tuesday, April 2. In separate announcements, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they will increase gasoline prices by PHP0.45 per liter and slash diesel prices by PHP0.60 per liter.… Read More

BSP sees inflation between 3.4 to 4.2%

BSP sees inflation between 3.4 to 4.2%

April 1, 2024, 4:38 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) expects March 2024 headline inflation to settle within 3.4 to 4.2 percent. "Continued price increases of rice and meat along with higher domestic oil prices and electricity rates are the primary sources of upward price pressures for the month," the… Read More

PH to be one of fastest-growing economies in East Asia and Pacific

PH to be one of fastest-growing economies in East Asia and Pacific

April 1, 2024, 3:58 pm

MANILA – The World Bank on Monday retained its 2024 Philippine economic growth forecast at 5.8 percent and expects the country to be the second fastest-growing economy in East Asia and the Pacific. In its April 2024 East Asia and Pacific Economic Update report, it also revised upward its 2025… Read More

South Korea exports rise for 6th straight month in March

South Korea exports rise for 6th straight month in March

April 1, 2024, 3:07 pm

SEOUL – South Korea's exports moved up for the sixth consecutive month in March on the back of the robust performance of chips, data showed Monday. Outbound shipments gained 3.1 percent on-year to USD56.5 billion last month, according to the data compiled by the Ministry of Trade, Industry and… Read More

Modest growth for PH manufacturing PMI in March

Modest growth for PH manufacturing PMI in March

April 1, 2024, 2:15 pm

MANILA – The country’s manufacturing purchasing managers’ index (PMI) recorded a modest growth in March this year at 50.9. March's PMI was slightly lower than February's 51 but a PMI above 50 is still considered growth. The manufacturing PMI gauges the health of the local sector, with scores… Read More

BSP: Hot money inflows hit $686 million in February

BSP: Hot money inflows hit $686 million in February

March 28, 2024, 10:40 am

MANILA – Foreign portfolio investments or hot money registered with the Bangko Sentral ng Pilipinas (BSP) through authorized banks recorded net inflows of USD689 million in February this year. Data released by the BSP late Wednesday showed that this resulted from the USD1.5 billion gross inflows… Read More

Tech industry leaders back int’l partnerships to expand smart cities

Tech industry leaders back int’l partnerships to expand smart cities

March 28, 2024, 9:51 am

TAIPEI, Taiwan – Industry leaders in information and communications technology (ICT) are pushing for international partnerships to further expand the establishment of smart cities worldwide. The stakeholders said partnerships with ICT companies and governments across the world will promote… Read More

PSEi slightly up on last-minute bargain hunting, peso flat

PSEi slightly up on last-minute bargain hunting, peso flat

March 27, 2024, 5:10 pm

MANILA – The local bourse gained 5.36 points on last-minute bargain hunting while the peso moved sideways during trading on Wednesday, the last trading day before the Holy Week holidays. The Philippine Stock Exchange index closed at 6,903.53 while All Shares also gained 8.96 points to close at… Read More

ITSO reports record-high intellectual property filings in 2023

ITSO reports record-high intellectual property filings in 2023

March 27, 2024, 3:00 pm

MANILA – The Intellectual Property of the Philippines (IPOPHL) said on Wednesday IP filings through its Innovations and Technology Support Offices (ITSOs) hit an all-time high last year as more universities and colleges joined the Innovation and Technology Support Program. In a statement, the… Read More

Cocoa prices nearly double on supply concerns in 3-month period

Cocoa prices nearly double on supply concerns in 3-month period

March 27, 2024, 2:09 pm

BERLIN – Cocoa prices have nearly doubled in three months to record highs, influenced by the decline in global supply. Prices hit a historic high as weather conditions in West Africa put chocolate producers in a difficult position, with the price per ton for May-dated cocoa traded on the New… Read More

Taiwan tech firms showcase 5G, AI innovative solutions

Taiwan tech firms showcase 5G, AI innovative solutions

March 27, 2024, 11:37 am

TAIPEI, Taiwan – Various information and communication technology companies in Taiwan showcased their various applications of artificial intelligence (AI) and 5G technologies as the island positions itself to be a smart city powerhouse during the recent 2024 Smart City Summit and Expo (SCSE)… Read More