Business
BTr fully awards Treasury bills
January 15, 2024, 5:05 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded bids for Treasury bills (T-bills) during Monday's auction. The 91-, 182-, and 364-day T-bills fetched average rates of 5.226 percent, 5.685 percent, and 5.999 percent, respectively. The auction attracted PHP43.2 billion in total tenders.… Read More
Diokno turns over DOF post to Recto
January 15, 2024, 2:45 pm
MANILA – Former Finance Secretary Benjamin Diokno officially turned over the Department of Finance (DOF) leadership to newly appointed Finance Secretary Ralph Recto in a ceremony on Monday at the DOF office in Manila. “Ralph is a seasoned policymaker and an undeniable patriot. He has sponsored… Read More
PSEi sustains rise, peso moves sideways
January 12, 2024, 6:10 pm
MANILA – The local stock market continued to rebound while the peso moved sideways on Friday. The Philippine Stock Exchange index (PSEi) gained 29.45 points to close at 6,643.18, and All Shares also went up by 10.85 points to 3,506.61. "The PSEi continued to gain for the 2nd straight day, up for… Read More
Stocks, peso rebound on positive economic outlook
January 11, 2024, 8:01 pm
MANILA – The local stock barometer and currency rebounded on Thursday following the positive outlook on the domestic economy for 2024. The benchmark Philippine Stock Exchange index (PSEi) bounced back to 6,600 level after gaining 67.62 points to close at 6,613.73. The broader All Shares also… Read More
Economist lauds PBBM for prioritizing utilities, infra, agri
January 11, 2024, 6:05 pm
MANILA – President Ferdinand R. Marcos Jr. has so far been good in managing the Philippine economy as his policies and priorities on utilities, infrastructure and agriculture are expected to further boost economic growth. "My assessment is that overall, I think (President) BBM (Bongbong Marcos)… Read More
Cebu Pacific pioneers electric buses at NAIA as part of going green
January 11, 2024, 5:27 pm
MANILA – As part of continuing efforts to sustainable initiatives, low-cost carrier Cebu Pacific (CEB) has pioneered the use of electric buses to transport passengers to and from boarding gate and aircraft at the Ninoy Aquino International Airport. CEB has 25 buses run by conventional fuel at… Read More
Filipino tech firm targets gov’t offices for digitization, AI services
January 11, 2024, 4:05 pm
MANILA – Listed technology company Xurpas, Inc. has seen big potential in offering its services to national government agencies (NGAs) and local government units (LGUs), especially with the Marcos administration’s push to digitize government services. Xurpas chief executive officer Joey… Read More
PH pitches mineral processing, halal to visiting Indonesian biz
January 11, 2024, 8:23 am
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has pitched mineral processing, halal, and creative industries as sectors where the Philippines and Indonesia could further collaborate. Pascual on Wednesday met with Indonesian businessmen who are part of the delegation… Read More
PH exports need to grow 40% to catch up with 2024 target
January 10, 2024, 7:29 pm
MANILA – Philippine exports of goods and services should grow by 40 percent to catch up with the over PHP140-billion export revenues target for 2024 under the Philippine Export Development Program (PEDP), a Department of Trade and Industry (DTI) official said. DTI-Export Marketing Bureau (EMB)… Read More
Massive quakes to cause heavy toll on Japan’s GDP
January 10, 2024, 6:55 pm
ISTANBUL – The destruction caused by earthquakes will cause a “heavy blow” to the gross domestic product of Japan, the country’s economists have predicted. Japan was hit by a massive earthquake on New Year's Day, killing at least 206 people, while 52 others are still missing, Tokyo-based… Read More
PH manages ‘soft landing’ amid monetary tightening, inflation
January 10, 2024, 6:20 pm
MANILA – An economist said the Philippines has suffered the biggest blow in terms of tightening of monetary policy and inflation pressure among ASEAN peers, but the country still managed to ease the impacts of these headwinds on its economy. In a briefing in Taguig City on Tuesday, HSBC… Read More
Calabarzon posts 'mild' 3.4% inflation in December
January 10, 2024, 6:19 pm
LIPA CITY, Batangas – Inflation in the Calabarzon region was kept to a moderate 3.4 percent in December 2023 due mainly to the stable prices of some heavily-weighted food items despite the high demand during the Christmas season. This represents a notable decline from the 3.8 percent posted in… Read More
PSEi tracks US market decline, peso depreciates
January 10, 2024, 5:39 pm
MANILA – The local stock market ended the day in the negative territory while the peso remained on the PHP56 level on Wednesday. The Philippine Stock Exchange index (PSEi) shed 72.41 points to close at 6,546.11, while All Shares also declined by 34.04 points to 3,469.64. "Philippine equities… Read More
PH to continue to post strong growth
January 10, 2024, 5:15 pm
MANILA – The Philippines is projected to continue to be one of the fastest growing economies in East Asia and the Pacific over the next two years. In its Global Economic Prospects report released on Wednesday, the World Bank maintained its Philippine economic growth forecasts for 2023 to 2025.… Read More
Trade deficit up in November
January 10, 2024, 5:09 pm
MANILA – The country's trade deficit widened by 26.3 percent in November last year, data from the Philippine Statistics Authority (PSA) showed. Preliminary data released by the PSA on Wednesday showed that the balance of trade in goods, or the difference between the value of exports and imports,… Read More
Meralco announces higher rates in 2024
January 10, 2024, 4:02 pm
MANILA – Customers in the franchise areas of the Manila Electric Company (Meralco) can expect higher electricity bills in the first month of 2024, as the distribution utility (DU) announced a slight increase in power rate for January. On Wednesday, Meralco said there will be an upward adjustment… Read More
PH 10-month net FDI inflows reach USD6.5B
January 10, 2024, 4:01 pm
MANILA – The net value of inward direct investments by foreign investors into the Philippines amounted to USD6.5 billion from January to October 2023, the Bangko Sentral ng Pilipinas (BSP) reported Wednesday. The BSP said net foreign direct investment (FDI) inflows in the first 10 months last… Read More
DMCI Holdings maintains positive outlook for 2024
January 10, 2024, 3:35 pm
MANILA – Diversified conglomerate DMCI Holdings Inc. has maintained its positive outlook for 2024 due to cooling inflation and stabilizing interest rates. “Overall, we expect the DMCI group to deliver another resilient performance this year,” DMCI Holdings chairman and president Isidro… Read More
Samsung flags 35% slip in Q4 profit, misses forecast
January 9, 2024, 9:42 pm
SEOUL – Samsung Electronics Co. on Tuesday predicted that its operating profit for the fourth quarter of last year would tumble 35 percent, hurt by persistent weak demand for its mainstay semiconductor division. Samsung, the world's biggest maker of memory chips and smartphones, estimated its… Read More
PH eyes FTA with SoKor to take effect by H1 2024
January 9, 2024, 8:16 pm
MANILA – Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said the country targets to implement the Philippines-South Korea Free Trade Agreement (FTA) by the first half of 2024, or around nine months since it was signed by both parties. “We're hoping that the first half… Read More
