Business
TDF rates sustain rise
November 7, 2018, 5:39 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facilities (TDFs) rose across-the-board Wednesday while bid coverage ratio fell due to undersubscription in two of the three tenors. Data released by the central bank showed that the rate of the seven-day facility improved to… Read More
Oil prices to stay below USD80 per barrel till yearend: Cusi
November 7, 2018, 5:09 pm
MANILA -- World crude prices have been on a downward trend in recent weeks, fueling expectations that prices would not breach the USD80 per barrel in the remaining months of the year, the country’s top energy official said. In a briefing at Malacañan Palace Wednesday, Department of Energy (DOE)… Read More
Prioritize infra projects, economist tells gov't
November 6, 2018, 9:06 pm
MANILA -- With the Philippines twin deficits, an economist of Maybank said the Philippine government should prioritize projects under its massive infrastructure program. During the 2019 economic outlook jointly hosted by Maybank Philippines Inc. and Maybank ATR Kim Eng in Makati City Tuesday, Dr.… Read More
PH to hold another bidding for rice imports
November 6, 2018, 9:00 pm
MANILA -- The government will conduct another bidding for the procurement of the 500,000 metric tons (MT) of rice on Nov. 20, to augment the country's buffer stock and bring prices further down. This, after the National Food Authority (NFA) on Tuesday failed to secure offers for the supply of… Read More
ALI nets P20.8-B in Jan.-Sept.
November 6, 2018, 8:57 pm
MANILA -- Ayala Land Inc. (ALI) booked a 17-percent increase in net income during the first nine months of the year, driven mainly by its residential and commercial leasing businesses. ALI reported to the local bourse its profit reached PHP20.78 billion in January to September, higher than PHP17.8… Read More
Bidding for 3rd telco set on Wednesday
November 6, 2018, 7:59 pm
MANILA -- The selection for the local telecommunications industry's new major player will push through on Wednesday, November 7, after the Manila Regional Trial Court (RTC) junked the petition for writ of preliminary injunction filed by Now Telecom. The Department of Information and Communications… Read More
BSP rate hike hopes boost PHP, PSEi down on uncertainties
November 6, 2018, 7:18 pm
MANILA -- Expectations of an additional hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates boosted the peso Tuesday but uncertainties pulled down the Philippine Stock Exchange index (PSEi). The local currency gained PHP0.19 to the greenback after finishing the day’s trade at 53.025 from… Read More
Another hike in BSP rates seen before yearend
November 6, 2018, 5:42 pm
MANILA -- Economists seem to agree that another upward adjustment in the Bangko Sentral ng Pilipinas' (BSP) key rates in November is very likely even if inflation has shown signs of easing, citing the need to still anchor inflation expectations. BSP’s policy-making Monetary Board (MB) will have… Read More
Economic managers: Gov't measures vs. inflation 'bearing fruit'
November 6, 2018, 5:41 pm
MANILA -- Headline inflation stayed at 6.7 percent in October 2018 but declined month-on-month, with the downward path indicating that concerted government efforts to tame rising prices have been bearing fruit. The Philippine Statistics Authority (PSA) on Tuesday reported that seasonally adjusted… Read More
Production output, value up in September
November 6, 2018, 4:41 pm
MANILA -- Both volume and value of production in September this year posted notable increments, the Philippine Statistics Authority (PSA) reported Tuesday. Figures bounced back from September 2017, with the volume of production index (VoPi) increasing by 4 percent this year from a 5.7-percent… Read More
Globe launches eSIM in PH
November 6, 2018, 4:39 pm
MANILA -- Globe Telecom launched the embedded Subscriber Identification Module (eSIM) in the Philippine market to enhance the mobile experience of its subscribers. The eSIM is a virtual SIM that can be an alternative to the physical, plastic SIM cards that are currently being used by smartphone… Read More
BSP rates to climb further: ANZ Reasearch
November 6, 2018, 4:38 pm
MANILA -- Economic think tank ANZ Research still forecasts another increase in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates, by 25 basis points, in December 2018 even if it turns out that domestic inflation has hit its peak in October. In a study released Tuesday, the Australia, New… Read More
October inflation flat at 6.7%
November 6, 2018, 3:40 pm
MANILA -- Inflation in October held steady at 6.7 percent, unchanged from the previous month’s level, leading the Bangko Sentral ng Pilipinas (BSP) to state that it may have finally peaked, as the reading is further reinforced by a deceleration in heavily-weighted food items. BSP Governor Nestor… Read More
Lion Air awaits govt audit of plans to buy Boeing 737
November 6, 2018, 1:04 pm
MOSCOW – Indonesia’s Lion Air awaits the results of the Transportation Ministry’s audit of its earlier plans to purchase 50 Boeing 737 MAX 10 aircraft, following the recent plane crash, Lion Air Group Managing Director Daniel Putut said. "We are awaiting the Ministry’s audit. We will… Read More
Risk-on sentiments boost local markets after long weekend
November 5, 2018, 7:40 pm
MANILA -- Both the Philippine Stocks Exchange index (PSEi) and the peso started the week with gains amid the wait-and-see stance created by an anticipation of major economic data releases later this week. After the long weekend, the Philippine Stock Exchange index (PSEi) gained further after it… Read More
Grab rolls out premium tricycle services
November 5, 2018, 7:15 pm
MANILA -- Ridesharing firm Grab Philippines will be rolling out its premium tricycle services nationwide through its partnership with AutoItalia Philippines which is the local distributor of three-wheeled Piaggio Ape vehicles. In a statement Monday, Grab Philippines Country Head Brian Cu said… Read More
PH T-bill rates up amid investors' cautiousness
November 5, 2018, 7:07 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday, as National Treasurer Rosalia De Leon revealed that yields being sought by investors have moderated compared to recent weeks. Average rate of the bellwether 91-day T-bill went up by 9.80 basis points to 5.077… Read More
PLDT deploys 5G services in Clark
November 5, 2018, 5:32 pm
MANILA -- Major telco PLDT Inc. has begun building the infrastructure needed to deploy fifth generation (5G) technology in the Clark Freeport Zone, which the company's management said is part of efforts to deliver fast and affordable mobile services to customers. This, as PLDT and its wireless… Read More
NEDA sees FDI rise on eased foreign investment restrictions
November 5, 2018, 5:27 pm
MANILA -- The National Economic and Development Authority (NEDA) expects a further increase in foreign direct investments (FDI) next year due to the newly-signed 11th regular Foreign Investment Negative List (FINL). In a press briefing on Monday, Socioeconomic Planning Secretary Ernesto Pernia… Read More
PH exhibitors seek buyers in China import expo
November 5, 2018, 4:38 pm
MANILA -- A total of 57 Filipino exhibitors are taking part in the first China International Import Expo (CIIE) in Shanghai, in hopes of striking deals with Chinese buyers. Department of Trade and Industry (DTI) Secretary Ramon Lopez is leading the Philippine delegation in the CIIE. According to… Read More
