Peso weakens, PSEi down on mixed corporate earnings results

MANILA – The local bourse's main index ended the week on the negative territory while the peso also slipped on Friday.The Philippine Stock Exchange index (PSEi) declined by 0.79 percent, or 52.66 points, to 6,625.26 points.All Shares followed with a decline of 0.57 percent, or 20.08 points, to... Read More

Economist sees 6.1% PH economic growth in 2023

MANILA – The Philippine economy is projected to grow by over 6 percent this year, driven by the continued growth in consumer spending and the services sector, an economist said.During the virtual post-State of the Nation Address (SONA) briefing on Friday, University of Asia and the Pacific... Read More

Congress urged to support 100% electrification target by 2028

MANILA – Department of Energy (DOE) Secretary Raphael Lotilla has urged Congress to support the agency’s budget to fully energize the country by the end of the Marcos administration.Lotilla told reporters in Pasay City early this week that almost 5 million people in the country do not... Read More

Food producers reassured by revitalized focus on agri sector

ANTIPOLO CITY – Local food producers on Friday said they found it reassuring that President Ferdinand R. Marcos Jr. devoted a huge portion of his second State of the Nation Address (SONA) to matters directly related to the agriculture sector.Danilo Fausto, president of the Philippine Chamber... Read More

Residential real estate prices up in Q1

MANILA – Residential real estate prices went up year-on-year in the first quarter of 2023 but registered slower growth quarter-on-quarter.Residential Real Estate Price Indices (RREPI) data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed a 10.2 percent year-on-year expansion... Read More

DBP completes P1-B interest subsidy disbursement to LGUs

MANILA – State-owned Development Bank of the Philippines (DBP) has completed the disbursement of funds under the PHP1-billion interest rate subsidy program covering local government units (LGUs) in the implementation of their respective Covid-19 response and recovery interventions, a top... Read More

Peso, stocks nearly flat after Fed raises interest rate

MANILA – The stock market and local currency both traded sideways on Thursday.The benchmark Philippine Stock Exchange index (PSEi) slipped by 1.21 points, or 0.02 percent, to 6,677.92 level on this day’s trading.All shares closed flat to 3,547.00.“Philippine shares ended the... Read More

3 young biz leaders recognized at PHINMA’s Siklab Awards

MANILA – Three young and brilliant entrepreneurs were honored at the Ramon V. del Rosario Siklab Awards, a joint initiative organized by PHINMA and the De La Salle University (DLSU) RVR College of Business.The honorees of this year’s RVR Siklab Awards came from diverse fields, which... Read More

Over 8K jobs seen from 5 LOIs in PBBM’s Malaysia trip

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the Philippines has received five letters of intent (LOI) from Malaysian businesses during the state visit of President Ferdinand R. Marcos Jr. to the Association of Southeast Asian Nations (ASEAN) country, which... Read More

Retail price index in NCR further eases in June

MANILA – The annual growth of the general retail price index (GRPI) in the National Capital Region (NCR) further eased in June, the Philippine Statistics Authority (PSA) said on Thursday.Data released showed that the GRPI in NCR decelerated to 4.4 percent in June from 4.9 percent in May.It was... Read More

4 big-ticket ‘green lane’ projects to create over 19K jobs

MANILA – Four big-ticket projects with the potential to generate 19,250 additional jobs have been given the certificate of endorsement by the One-Stop Action Center for Strategic Investments (OSAC-SI) at the Board of Investments (BOI), according to the trade chief.“Four out of 12... Read More

ITBPO sector target employment achievable despite AI threat

MANILA – The Contact Center Association of the Philippines (CCAP) is optimistic that the information technology and business process outsourcing (ITPO) sector will be able to hit its target headcount despite the emergence of artificial intelligence (AI).In a statement Thursday, CCAP managing... Read More

Landbank loans to MSMEs hit P50B in Jan-June

MANILA – State-run Land Bank of the Philippines (Landbank) on Thursday reported that outstanding loans to micro, small and medium enterprises (MSMEs) already amounted to almost PHP50 billion as of end-June.In a statement, Landbank said loans to MSMEs in the first half of the year reached... Read More

Power execs laud PBBM’s commitment to improving business climate

MANILA – The importance President Ferdinand R. Marcos Jr. has placed on promoting ease of doing business in the country, as made evident during his second State of the Nation Address (SONA), continued to draw positive reactions from the business community, particularly from energy sector... Read More

Fintech firm renews SME financing partnership with DTI

MANILA – Philippine-based financial technology firm First Circle has renewed its partnership with the Department of Trade and Industry (DTI) to offer financing to small and medium enterprises (SMEs).First Circle shared on Wednesday that its general manager and head of finance Rhys McCoy signed... Read More

BSP term deposit facility posts strong demand, rates up

MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) was strong on Wednesday as bids exceeded the offering, but rates increased.The BSP reduced the offer volume for the seven-day facility to PHP130 billion from PHP150 billion during the auction on July... Read More

PSEi rises on upward GDP outlook revision, peso ends sideways

MANILA – Local shares reacted positively to the International Monetary Fund’s (IMF) upward revision of the country’s economic growth forecast, while the peso closed sideways during Wednesday’s trading.The Philippine Stock Exchange index (PSEi) improved by 18.02 points to... Read More

BTr partially awards T-bonds

MANILA – The Bureau of the Treasury (BTr) on Wednesday partially awarded bids for the new seven-year Treasury bonds (T-bonds).The coupon rate was set at 6.375 percent.The auction was 1.8 times oversubscribed as the total submitted bids amounted to PHP55.1 billion.The BTr raised PHP24.8 billion... Read More

PEZA: PH lower ranking in outsourcing report 'temporary'

MANILA –Philippine Economic Zone Authority (PEZA) Director General Tereso Panga believes that the country’s lower ranking in the Global Services Location Index (GSLI) 2023 of global management consultancy firm Kearney is “temporary.”This, as he noted that initiatives to boost... Read More

DBM exec cites priorities under proposed 2024 nat’l budget

MANILA – Social protection, food security and key infrastructure projects will be the priorities under the 2024 national budget, an official of the Department of Budget and Management (DBM) said Tuesday. During the post-State of the Nation Address (SONA) Philippine Economic Briefing at the... Read More