Business
BTr fully awards re-issued Treasury bonds
June 4, 2024, 6:43 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded bids for the re-issued 20-year Treasury bonds (T-bonds) during Tuesday's auction. With a remaining term of seven years and one month, the re-issued bond fetched an average rate of 6.624 percent, lower than the 7.058 percent during the… Read More
LandBank launches GoBayani digital deposit account for OFWs
June 4, 2024, 3:19 pm
MANILA – State-run Land Bank of the Philippines (LandBank) has launched its GoBayani savings, a digital deposit account that gives Filipinos abroad access to the bank’s digital banking services. In a statement on Tuesday, the bank said GoBayani, which was launched on Monday, allows overseas… Read More
BSP: Results on ghost employees probe out soon; post-mortem next
June 4, 2024, 3:00 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is close to concluding its investigation on ghost employees and is now conducting a post-incident review to derive lessons from this scandal. “We’re doing a post-mortem on this, on what else we can do that will prevent this in the future,” BSP… Read More
World Bank expects further PH economic growth until 2026
June 4, 2024, 1:59 pm
MANILA – Philippine economic growth is expected to increase by an average of 5.9 percent between 2024 and 2026, driven by the strong domestic demand and pickup in global growth, the World Bank said. In its Philippines Economic Update report released on Tuesday, the World Bank retained its 2024… Read More
150-bps rate cut in 2 years ‘too aggressive’: BSP
June 4, 2024, 11:38 am
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said on Tuesday easing the monetary policy by 150 basis points (bps) in two years would be “too aggressive” based on the current pace of the country’s economic growth. “Given the present trajectory (of growth), it is… Read More
Bargain hunting, manufacturing performance lift PSEi; peso weak
June 3, 2024, 7:25 pm
MANILA – The local bourse stayed in the green territory on Monday’s trading, thanks to investors looking for cheap shares and manufacturing index of China reported by S&P Global. The Philippine Stock Exchange index (PSEi) ended the day gaining by 0.53 percent to 6,470.74, with an uptick in… Read More
Batangas plant to propel D&L as global firm
June 3, 2024, 7:07 pm
MANILA – The country’s leading food ingredients and oleochemical firm D&L Industries is optimistic that its latest production facility in Batangas will help its goal of achieving its export target. “To date, our Batangas plant has been instrumental in opening up new markets for us as we… Read More
SSS expects higher profit from REIT investments
June 3, 2024, 6:42 pm
MANILA – The Social Security System (SSS) said it is optimistic to generate more profit from its PHP6-billion investments in nearly all real estate investment trusts (REITs) available in the country this year. In a statement on Monday, SSS President and Chief Executive Officer Rolando Ledesma… Read More
Alternergy’s aggressive fundraising to hike RE capacity
June 3, 2024, 6:10 pm
MANILA – Listed renewable energy (RE) company Alternergy Holdings Corp. has been aggressive in its fundraising activities to reach its goal of nearly 500 megawatts (MW) capacity of clean energy by 2026. In a press briefing in its headquarters in Makati City, Alternergy chief financial officer… Read More
BSP reminds public about rules on cross-border transfer of currencies
June 3, 2024, 4:01 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Monday expressed support to the eTravel Customs System but reminded the public about the rules on cross-border transfer of currencies. The eTravel Customs System enables all arriving and departing travelers to fill out the electronic Customs… Read More
BTr raises P15B from Treasury bills auction
June 3, 2024, 4:00 pm
MANILA – The government raised PHP15 billion from the Treasury bills (T-bills) auction on Monday, the Bureau of the Treasury (BTr) said. The BTr said the 91-, 182-, and 364-day T-bills fetched average rates of 5.698 percent, 5.904 percent and 6.046 percent, respectively, lower than the… Read More
Investors urged to bankroll microgrid dev’t in PH
June 3, 2024, 2:58 pm Updated on June 3, 2024, 3:33 pm
MANILA – Senator Win Gatchalian on Monday encouraged investors to provide capital for the development of microgrids in the country, especially in off-grid areas, to help achieve full electrification. “Electrification is usually followed by economic development and the government in partnership… Read More
PH manufacturing records growth anew in May
June 3, 2024, 2:17 pm
MANILA – The Philippine manufacturing sector continued to post a positive performance in May 2024, the S&P Global Manufacturing Purchasing Managers’ Index (PMI) reported Monday. The country’s manufacturing score last month recorded an index higher than the neutral score of 50, at 51.9.… Read More
Mixed oil price adjustments set Tuesday
June 3, 2024, 11:44 am
MANILA – Oil companies will implement mixed price adjustments starting 12:01 a.m. on Tuesday. In separate advisories, Cleanfuel, Petro Gazz, Seaoil, and Shell said they would slash gasoline prices by PHP0.90 per liter while increasing diesel prices by PHP0.60 per liter. Seaoil and Shell will… Read More
13 more added to P3-T worth of PPP projects
June 2, 2024, 4:58 pm
MANILA – The Public-Private Partnership (PPP) Center said 134 projects worth PHP3.03 trillion are in the pipeline for undertaking between the government and private sector. Data released by the PPP Center over the weekend showed that 13 unsolicited proposals were recently added to the list of… Read More
PEZA to revive Albay’s coastal village as global value chain player
May 31, 2024, 8:10 pm
MANILA – The Philippine Economic Zone Authority (PEZA) aims to propel economic activities in a coastal village in Libon, Albay through economic zone development. PEZA Director General Tereso Panga on May 24 visited Barangay Pantao, an “astillero” or a shipyard during the galleon trade, which… Read More
PSEi ends 5-day shedding, peso strengthens
May 31, 2024, 7:40 pm
MANILA - Both the local bourse and currency improved their performance at the end of the week. The Philippine Stock Exchange index (PSEi) on Friday went up by 0.96 percent to 6,433.10, with All shares improving by 1.12 percent to 3,463.87 level. Philstock Financials, Inc. research associate Claire… Read More
Bank lending up, domestic liquidity slows in April
May 31, 2024, 5:39 pm
MANILA – Bank lending of universal and commercial banks (U/KBs) grew at a faster pace in April this year while domestic liquidity growth slowed, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data released by the BSP on Friday showed that banks' outstanding loans, excluding… Read More
CREATE law attracts P1.1-T investments
May 31, 2024, 3:52 pm
MANILA – Big-ticket investments approved under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act has already reached more than PHP1 trillion as of April this year. In a Facebook post on Friday, the Department of Finance (DOF) said these big-ticket projects are expected to… Read More
Meralco unit to energize PH's largest data center
May 31, 2024, 3:14 pm
MANILA -- Meralco Energy, Inc. (MSERV), a unit of the Manila Electric Company, will energize the country's largest hyperscale data center ST Telemedia Global Data Center (STT GDC Philippines). In a statement Friday, MSERV said the partnership will push for innovation and technological advancement… Read More
