PSEi rallies to 6,600-level on earnings results, peso nearly flat

MANILA – The local bourse extended its winning streak climbing to 6,600 level on Thursday as investors focused on corporate earnings, while the peso slightly slipped.The Philippine Stock Exchange index (PSEi) ended at 6,613.50, gaining 71.59 points.All shares improved by 25 points to 3,515.91... Read More

7-Eleven licensor bullish on PH market this year

MANILA – With its record-high net income of PHP2.06 billion in 2022, the Philippine Seven Corp. (PSC), the exclusive licensor of 7-Eleven in the country, is bullish about the growth of convenience stores this year.In a virtual press briefing after its annual stockholders’ meeting... Read More

BSP’s TDF posts undersubscription, rates down

MANILA – Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) attracted lower bids last Wednesday but a ranking central bank official said the volume of tenders is within their expectations.Central bank reduced the offering for the seven-day TDF to PHP150 billion from PHP190... Read More

Landbank, GSIS sign data sharing deal

MANILA – The Land Bank of the Philippines (Landbank) and the Government Service Insurance System (GSIS) signed a data-sharing agreement to improve GSIS members' banking experience.Under the agreement signed last July 17, the GSIS will share its members’ data with Landbank to enhance the... Read More

PH to achieve upper middle-income status by 2025

MANILA – The Philippines is on track to be an upper middle-income country by 2025, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Wednesday."We are on track and the upper middle-income country status will be achieved in 2025 based on our estimates given... Read More

PSEi up on positive local data, mirrors US markets; peso down

MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday’s trading in positive territory, mirroring gains in the United States equities markets, while the peso depreciated.The PSEi closed 13.11 points higher to a 6,541.91 finish, with all shares at 3,490.91, gaining by 8.16... Read More

NEDA launches dashboard for infra flagship projects monitoring

MANILA – The National Economic and Development Authority (NEDA) on Wednesday launched the Infrastructure Flagship Projects (IFPs) dashboard to better monitor IFPs.The dashboard is a publicly available interactive tool that provides an overview of the 194 IFPs, highlighting their status, cost... Read More

PEZA eyes return to P300-B investment approvals in 2023

MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga is hopeful that the agency can return to PHP300 billion-mark in terms of investment approvals this year.“That's still doable even in 2023 if the big (ticket investment) leads (in the pipeline) will proceed... Read More

PLDT named PH’s most valuable brand at $2.6B

MANILA – PLDT Inc. (PLDT) is the most valuable brand in the Philippines based on an independent 2023 study by Brand Finance, a London-based business valuation and strategy consulting firm.With a 2 percent annual increase in brand value to USD2.6 billion, the performance of the country’s... Read More

Small resto owners urged to tap digital platform

MANILA – In line with the government’s push for micro, small and medium enterprises (MSMEs) to digitize their operations, food and grocery online platform foodpanda has encouraged small restaurant owners to tap the digital market.In a statement Wednesday, foodpanda Philippines commercial... Read More

NEDA Board OKs NAIA rehab, 2 other infra projects

MANILA – The National Economic and Development Authority (NEDA) Board chaired by President Ferdinand R. Marcos Jr. approved on Wednesday the solicited proposal to rehabilitate and expand the Ninoy Aquino International Airport (NAIA) Public-Private Partnership (PPP) Project.In a briefing, NEDA... Read More

ADB projects PH to post highest growth in Southeast Asia

MANILA – The Asian Development Bank (ADB) on Wednesday maintained its 2023 Philippine economic growth projection, forecasting the country as the fastest-growing economy in Southeast Asia this year.In its ADB Outlook July Update, the bank said the country's gross domestic product (GDP) will... Read More

BSP urges public to use coins for payments

MANILA – The public is encouraged to use their coins for payments, with the central bank hiking to PHP2,000 each the legal tender limit per transaction for PHP1, PHP5, PHP10, and PHP20 coins.Meanwhile, legal tender limit per transaction for PHP0.1, PHP0.5, PHP0.10 and PHP0.25 coins is now... Read More

Digitalization initiatives to accelerate MSME growth

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has unveiled major initiatives that will accelerate the growth of micro, small, and medium enterprises (MSMEs), especially through digitalization.During the National MSME Summit 2023 held in Manila Tuesday, Pascual, who... Read More

Negative sentiments on China impact PH shares, peso on Tuesday

MANILA – Both the Philippine shares and the peso shed on Tuesday’s trading as China’s missed second quarter economic growth resulted to a ripple effect in Asian markets.The Philippine Stock Exchange index (PSEi) finished the day’s trading losing 21.96 points to 6,528.80, with... Read More

Business sector 'bullish' about MIF, but awaits next SONA

MANILA – Stock market insiders welcomed Tuesday’s enactment of the Maharlika Investment Fund (MIF), but said the bullishness it will bring to trading will likely occur after President Ferdinand R. Marcos, Jr. delivers his second State of the Nation (SONA) address next week.In an... Read More

BOI approvals increase threefold in H1 2023

MANILA – The Board of Investments (BOI) posted a threefold increment in investment approvals in January to June 2023 period, the agency reported Tuesday.BOI registered a total of PHP698 billion in the first half of the year, which is 203 percent higher than approved investments of PHP230... Read More

Maharlika Investment Fund to help achieve PH's development goals

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Tuesday lauded the signing of the Maharlika Investment Fund (MIF) Act of 2023, saying this would help the country achieve its long-term development goals.Balisacan said the MIF would complement the... Read More

PH nickel sector sees further increase in global demand

MANILA – Nickel demand is expected to further increase, driven by the shift to smart cities and clean energy, but additional investments are needed to help the Philippine nickel industry take advantage of the global demand, the Philippine Nickel Industry Association (PNIA) said.In a statement... Read More

BTr fully awards re-issued T-bonds

MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the re-issued 7-year Treasury bonds (T-bonds).With a remaining term of six years and two months, the security fetched an average rate of 6.299 percent, lower than the coupon rate of 7.000 percent set on its first issuance in... Read More