Business
DA to revitalize carabao population for commercial dairy production
September 14 2023, 3:01 pm
MANILA – The Department of Agriculture (DA) is revitalizing the cultivation of Philippine carabaos nationwide to help generate income in the countryside and to support the Marcos administration’s dairy nutrition program. In an interview on Thursday, DA Undersecretary Deogracias Victor… Read More
BSP fully awards TDF amid strong demand
September 13 2023, 8:18 pm
MANILA – Strong demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) resulted in its full award on Wednesday, with rates down from last week’s level. The BSP hiked by PHP40 billion the offer volume for both tenors, to PHP200 billion for the seven-day facility and to… Read More
PSEi tracks Asian markets lower, peso ends sideways
September 13 2023, 7:40 pm
MANILA – Local equities dropped on Wednesday, tracking other Asian stock markets, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) fell to 6,149.18 level, shedding 81.02 points. All Shares also declined by 28.62 points to 3,330.81. “PSEi slipped by 81.02 points (1.30… Read More
Core inflation decline to help hit within-target rate by Q4
September 12 2023, 9:10 pm
MANILA – A ranking central bank official on Tuesday said the deceleration of core inflation last month provides additional impetus towards the possibility of a within-target inflation rate in the last quarter of this year. In his presentation during the Philippine Economic Briefing in Dubai,… Read More
PSEI, peso end sideways ahead of US inflation data
September 12 2023, 7:31 pm
MANILA – The Philippine Stock Exchange index (PSEi) and the peso moved sideways on Tuesday’s trade ahead of the release of the US’ August 2023 inflation data. The benchmark PSEi slipped by 0.06 percent to 6,230.20 level, with the broader All Shares down by 0.12 percent to… Read More
Rice millers, traders commit 30K sacks for ‘Rice on Wheels’ program
September 12 2023, 6:59 pm
MANILA – The Department of Trade and Industry (DTI) said rice millers and traders committed 30,000 sacks of 50-kilogram rice for the Rice on Wheels for Retailers program in support of Executive Order (EO) No. 39. “The Rice on Wheels for Retailers program aims to ensure the availability of… Read More
PH economic team urges Middle East bizmen to invest in infra, energy
September 12 2023, 5:37 pm
MANILA – The Philippine economic team on Tuesday urged entrepreneurs in the Middle East to explore investment opportunities in the Philippines, especially in infrastructure and clean energy. "[There are] two areas where we need foreign investors, specifically, the Philippines being an… Read More
DTI eyes BOI to hit P1.5-T investment approvals target
September 12 2023, 4:42 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual is confident that the Board of Investments (BOI) will hit, and even surpass, its 2023 investment approvals target of PHP1.5-trillion. In an interview, Pascual, who is the concurrent BOI Chairman, said the investment… Read More
Bureau of the Treasury partially awards T-bonds
September 12 2023, 4:02 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday partially awarded the re-issued seven-year Treasury bonds (T-bonds). With a remaining term of 6 years and 10 months, the bond series was awarded at an average rate of 6.370 percent. The auction was 1.9 times oversubscribed as total submitted… Read More
BOC expects 1st int'l container line in Bicol to spur economic growth
September 12 2023, 3:51 pm
LEGAZPI CITY – The projected opening of the first international container line in Bicol before the end of the year is expected to generate more jobs, give higher revenues, and pave the way for new businesses that will help boost the region's economic growth. Segundo Sigmundfreud Barte Jr.,… Read More
Investment firm exec: BSP likely to keep rates unchanged in 2023
September 12 2023, 1:23 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) will likely keep the benchmark interest rate steady until mid-2024, an official of financial services firm Sun Life Investment Management and Trust Corporation's (SLIMTC) said Tuesday. "For me, the BSP has tended to be...to move in line with the… Read More
Sept. 12 oil price hike tamer than past weeks
September 11 2023, 11:00 pm
MANILA – Oil firms will increase pump prices yet again Tuesday but increments are softer compared to the past nine weeks. In separate advisories Monday, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix Petroleum, PTT, Seaoil, Shell, Unioil and Petron will increase prices of gasoline by PHP0.20… Read More
PH aims 2nd highest FDI in ASEAN by ‘28
September 11 2023, 11:00 pm
MANILA – The Philippines aims to have the second highest foreign direct investments (FDI) in the Association of Southeast Asian Nations (ASEAN) by the end of the Marcos administration, Trade and Industry Secretary Alfredo Pascual said. In a television interview Monday, Pascual said the current… Read More
PH eyes to up ranking in global innovation report by ‘28
September 11 2023, 9:07 pm
MANILA – President Ferdinand R. Marcos Jr. aims to raise the country’s ranking in the Global Innovation Index (GII) report of the World Intellectual Property Organization (WIPO) by the end of his term in 2028. “We believe that by addressing gaps and challenges in innovation inputs and… Read More
Policies to temper rice prices back PSEI; peso on sideways
September 11 2023, 9:03 pm
MANILA – Government policies targeted to address the spike in rice prices boosted investors' sentiments to buy local shares on Monday, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) finished the day increasing by 10.80 points to 6,233.74 level, with All Shares… Read More
4 Japanese firms investing P10.8-B in PEZA
September 11 2023, 6:35 pm
MANILA – Four Japanese companies will be expanding their operations in the country’s economic zones through investments amounting to around PHP10.8 billion, the Philippine Economic Zone Authority (PEZA) reported Monday. PEZA Director General Tereso Panga, in a statement, said the agency… Read More
BTr fully awards T-bills
September 11 2023, 4:41 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 5.575 percent, 5.960 percent, and 6.190 percent, respectively, all lower than secondary market rates. The auction was 3.5 times… Read More
DTI: Rice price cap may be reviewed in 2 weeks
September 11 2023, 2:22 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the rice price ceiling under Executive Order (EO) No. 39 will remain in effect for another two weeks before the government reviews the policy. “(M)aybe (in) another two weeks we’ll have a good idea of the… Read More
Finance chief: Economic team backs rice price cap
September 11 2023, 1:15 pm
MANILA – The country's economic team on Monday reiterated full support and endorsement of the President’s recent decision to impose a price cap on rice. In a statement on Monday, Finance Secretary Benjamin Diokno also emphasized the importance of immediately implementing a comprehensive set of… Read More
Maharlika Investment Fund to generate 100K jobs
September 11 2023, 9:05 am
MANILA – The Maharlika Investment Fund (MIF) can generate a 0.07-percentage point economic growth annually in the first 10 years of operation and generate about 100,000 direct and indirect jobs, the Department of Finance (DOF) said. "A fully operational MIF, coupled with an ideal economic… Read More
