Business
BSP sees January 2024 inflation between 2.8% to 3.6%
January 31, 2024, 4:24 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) projects headline inflation to settle within the government's 2 to 4 percent target in January. In a statement on Wednesday, the BSP said inflation rate this month is projected to settle within the range of 2.8 to 3.6 percent. "Higher prices of some… Read More
US keen to work with PH on mineral processing, renewables
January 31, 2024, 3:16 pm
MANILA – The United States (US) government has offered its support to the Philippines in developing the country’s mineral processing and renewable energy (RE) sectors. US Under Secretary for Economic Growth, Energy, and the Environment Jose Fernandez said in an interview here Tuesday that the… Read More
PH debt-to-GDP improves in 2023
January 31, 2024, 3:01 pm
MANILA – The share of the country's total liabilities to the gross domestic product (GDP) improved last year. "With the 2023 full-year Gross Domestic Product (GDP) growth of 5.6 percent, the debt-to-GDP ratio improved to 60.2 percent from 60.9 percent at the end of 2022," the Bureau of the… Read More
PH economy grows by 5.6% in 2023
January 31, 2024, 1:55 pm
MANILA – The Philippine economy grew by 5.6 percent in the fourth quarter of last year, bringing the full-year 2023 growth to 5.6 percent. While the growth did not settle within the government's 6 to 7 percent target and was lower than the 7.6 percent expansion in 2022, National Economic and… Read More
PSA revises upward 3Q PH economic growth to 6%
January 30, 2024, 9:37 pm
MANILA – The Philippine Statistics Authority (PSA) on Tuesday revised upward the third quarter Philippine economic growth to 6.0 percent from 5.9 percent. In a statement, the PSA said major contributors to the upward revision in the gross domestic product (GDP) growth were manufacturing which… Read More
BTr fully awards re-issued T-bond
January 30, 2024, 9:32 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday the re-issued three-year Treasury bonds (T-bonds). The debt paper fetched an average rate of 6.007 percent, broadly in line with the prevailing secondary market rate for the said tenor at 6.011 percent. BTr offered the paper for… Read More
US picks PH as one of partner countries under CHIPS Act
January 30, 2024, 9:04 pm
MANILA – The Philippines is one of the seven countries that the US will be partnering with to diversify its semiconductor supply chain under the CHIPS and Science Act, according to visiting United States Under Secretary for Economic Growth, Energy, and the Environment Jose Fernandez. Fernandez… Read More
Port modernization to spur economic growth in Iloilo, W. Visayas
January 30, 2024, 8:33 pm
ILOILO CITY – The local government here is looking at the economic impact of the impending modernization of the Iloilo Commercial Port Complex (ICPC) in Lapuz district. “The improvement of our port facilities will pave the way for more international container ship arrivals. It will also have a… Read More
More demand for WFH jobs than firms offering remote work arrangement
January 30, 2024, 7:35 pm
MANILA – Filipino jobseekers still prefer the work-from-home (WFH) arrangement despite many companies returning to normal operations after the coronavirus disease 2019 (Covid-19) lockdown. “Work from home” is the top most searched keyword on Jobstreet by SEEK platform in the Philippines,… Read More
PEZA, BuCor sign agreement for ecozone development
January 30, 2024, 7:00 pm
MANILA – The Philippine Economic Zone Authority (PEZA) and the Bureau of Corrections (BuCor) signed on Tuesday an agreement to establish economic zones on portions of land under BuCor. The Memorandum of Understanding (MOU) signed by PEZA Director General Tereso Panga and BuCor Director General… Read More
PSEi down on profit-taking, peso weakens
January 30, 2024, 6:35 pm
MANILA – The local bourse recorded losses for two consecutive days, while the local currency finished weak on Tuesday. The Philippine Stock Exchange index (PSEi) slipped 8.67 points to 6,622.01 level. All Shares were flat closing at 3,487.71. Sectoral indices were mixed with Mining and Oil,… Read More
Recto meets with US officials to tackle strategic partnerships
January 30, 2024, 5:35 pm
MANILA – Finance Secretary Ralph Recto engaged in a bilateral meeting with United States Department of State Undersecretary for Economic Growth, Energy, and Environment Jose W. Fernandez to discuss areas for strategic partnerships. In a statement late Monday, the Finance department said… Read More
Investors bullish on stock market; PSEi seen to hit 7,100 this year
January 29, 2024, 7:48 pm
MANILA – More retail investors are bullish on the stock market and are looking to add income-paying investments in the next three to six months as the Philippine Stock Exchange index (PSEi) is expected to hit the 7,100-point level this year, according to an online stockbroker. “Philippine… Read More
BDO raises P63.3B in 2nd ASEAN Sustainability Bond issue
January 29, 2024, 7:46 pm
MANILA – BDO Unibank, Inc. on Monday said it raised PHP63.3 billion in its second ASEAN Sustainability Bond issue, exceeding the original offer of PHP5 billion by more than 12 times. In a statement, the bank said this is its largest single issuance, surpassing its first ASEAN Sustainability… Read More
Big-time price hike for gasoline, diesel
January 29, 2024, 6:30 pm
MANILA – Motorists will have to brace for a big-time price hike on gasoline and diesel products starting 12:01 a.m. Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, Shell and Unioil said they will increase gasoline prices by PHP2.80 per liter and PHP1.30 per… Read More
PSEi sheds ahead of GDP report, peso moves sideways
January 29, 2024, 6:00 pm
MANILA – The Philippine Stock Exchange index (PSEi) closed in the negative territory at the start of the week, while the peso moved sideways. The benchmark PSEi ended the day at 6,630.68, with the broader All Shares also shedding 20.90 points at 3,487.71. “The local bourse took some gains from… Read More
Government raises P15 billion from Treasury bills auction
January 29, 2024, 5:25 pm
MANILA – The government raised a planned PHP15 billion from the Treasury bills (T-bills) auction, the Bureau of the Treasury (BTr) said. The BTr fully awarded bids for T-bills during Monday's auction. The 90-, 182-, and 364-day T-bills fetched average rates of 5.398 percent, 5.810 percent, and… Read More
Green lane investments reach PHP1.2T
January 29, 2024, 5:23 pm
MANILA – The Board of Investments (BOI) said Monday that its One-Stop Action Center for Strategic Investments (OSAC-SI) has granted green lane endorsements for PHP1.196 trillion worth of projects. “Since the approval of EO (Executive Order) 18 in February 2023, OSAC-SI has endorsed a total of… Read More
Palawan consumers' group seeks gov't takeover of power coop
January 29, 2024, 4:38 pm
PUERTO PRINCESA, Palawan – A consumers’ group in this province is urging the National Electrification Administration (NEA) to assume management control over the Palawan Electric Cooperative (PALECO), citing its alleged inability to provide dependable and affordable electricity. The Palawan… Read More
NEDA chief projects Q4 economic improvement
January 28, 2024, 5:55 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan is confident that the fourth quarter of 2023 will be an improvement of the 5.9 percent expansion posted during the third quarter. "I haven’t seen the numbers but [I] hope it will be good, because our… Read More
