Business

S&P: 6.5% or higher GDP growth ‘very easily achievable’

S&P: 6.5% or higher GDP growth ‘very easily achievable’

July 3, 2018, 8:06 pm

MANILA -- Credit rating agency S&P Global Ratings has a bright outlook for the Philippine economy as demographics and economic policy remain conducive to the advancement of the country’s gross domestic product (GDP). In a webcast Tuesday, S&P Asia Pacific Economist Vincent Conti said GDP growth… Read More

BTr rejects T-bond anew as yield reaches 7.625%

BTr rejects T-bond anew as yield reaches 7.625%

July 3, 2018, 8:02 pm

MANILA -- The Bureau of Treasury (BTr) has again rejected all bids for the PHP15-billion Treasury bond (T-bond) on Tuesday as interest rate for the 10-year security spiked to 7.625 percent. “The auction committee decided to reject all tenders for the third reissuance of the 10-year T-bond with… Read More

MPTC raises stake in Indonesian infra firm

MPTC raises stake in Indonesian infra firm

July 3, 2018, 7:59 pm

MANILA -- The tollways arm of Metro Pacific Investments Corporation (MPIC) has acquired more shares in Indonesian infrastructure firm, PT Nusantara Infrastructure Tbk, with an additional PHP597.33 million, as it expands presence in Indonesia. Metro Pacific Tollways Corp. (MPTC), through its… Read More

BSP celebrates silver anniversary

BSP celebrates silver anniversary

July 3, 2018, 6:09 pm

MANILA -- Since its establishment in July 3, 1993, a quarter of a century ago, the Bangko Sentral ng Pilipinas (BSP) has taken pride in making the country’s banking system solid and stable, while ushering the Philippines to its current robust economic growth. BSP’s policy has helped the… Read More

DOF forecasts June inflation at 4.9%

DOF forecasts June inflation at 4.9%

July 3, 2018, 5:36 pm

MANILA -- The Department of Finance (DOF) sees inflation increasing even further to 4.9 percent in June, from the 4.6 percent figure posted in May. In the DOF economic bulletin released on Tuesday, food and non-alcoholic beverages as well as alcoholic beverages and tobacco items are seen to have… Read More

Peso seen within target range this year

Peso seen within target range this year

July 2, 2018, 8:42 pm

MANILA -- The peso’s depreciation against the dollar is no cause for alarm, as its average rate is expected to remain within target range for the year of up to 52 to 53 to the dollar, according to a ranking National Economic and Development Authority (NEDA) official. “We are looking at the… Read More

DOST-CAR sustains support for MSMEs

DOST-CAR sustains support for MSMEs

July 2, 2018, 8:03 pm

LA TRINIDAD, Benguet -- The Department of Science and Technology (DOST)-Cordillera on Monday said it approved 44 projects under its Small Enterprise Technology Upgrading Program (SETUP) for the first semester in recognition of the crucial role of micro, small and medium enterprises (MSMEs) towards… Read More

Megaworld opens 17th lifestyle mall

Megaworld opens 17th lifestyle mall

July 2, 2018, 8:01 pm

MANILA -- Property developer Megaworld Corp. has just inaugurated a PHP2.2-billion lifestyle mall in its Iloilo Business Park township, its first in the Visayas and Mindanao areas. “We are pioneering the ‘lifestyle mall’ concept in Western Visayas with the opening of Festive Walk Mall,”… Read More

Pump prices to go up again Tuesday

Pump prices to go up again Tuesday

July 2, 2018, 6:45 pm

MANILA -- A week after implementing a substantial rollback, oil firms will once again turn the tables on the consuming public with another oil price hike on Tuesday, July 3. In separate text messages to journalists, major as well as independent oil companies announced a PHP0.65/liter increase in… Read More

T-bills auction gains mixed results

T-bills auction gains mixed results

July 2, 2018, 6:43 pm

MANILA -- The Bureau of Treasury (BTr) has awarded the 91-day Treasury-bill (T-bill) in full, while it will only make partial issuance of the 182- and 364-day securities, after rejecting some bids. In Monday’s auction, the PHP4-billion 91-day T-bill fetched an interest rate of 3.404 percent.… Read More

Megawide eyes new contracts worth P24-B this year

Megawide eyes new contracts worth P24-B this year

July 2, 2018, 5:52 pm

MANILA -- Diversified engineering and infrastructure conglomerate Megawide Construction Corp. targets to secure PHP24 billion worth of new contracts this year, optimistic about its continued business expansion, driven by the country’s economic growth and infrastructure development push. Megawide… Read More

DBCC keeps medium-term growth target at 7-8%

DBCC keeps medium-term growth target at 7-8%

July 2, 2018, 5:31 pm

MANILA -- The Development Budget Coordination Committee (DBCC) remains optimistic that the projected seven to eight percent medium-term economic growth for the country is still attainable. The Duterte administration’s economic managers remain positive that the gross domestic product (GDP) will… Read More

DICT sets consultation for entry of 3rd telco player

DICT sets consultation for entry of 3rd telco player

July 2, 2018, 5:28 pm

MANILA -- The Department of Information and Communications Technology (DICT) announced that it will hold public consultations on its draft terms of reference (TOR) for the entry of a new telecommunications player on July 6, 2018. In an advisory to media Monday, the DICT said that the consultations… Read More

Gov’t sets P3.8-T disbursements for 2019

Gov’t sets P3.8-T disbursements for 2019

July 2, 2018, 3:11 pm

MANILA -- The Development Budget Coordination Committee (DBCC) announced on Monday that the government’s disbursement program next year is at PHP3.8 trillion and will be expanded to PHP5.362 trillion in 2022. In a press conference following the 173rd DBCC Meeting, Department of Budget and… Read More

PH manufacturing posts solid growth in June

PH manufacturing posts solid growth in June

July 2, 2018, 1:44 pm

MANILA -- The country’s manufacturing sector continued its expansion all the way to the close of the first semester, the Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) of IHS Markit reported Monday. Although manufacturing PMI slid to 52.9 in June from 53.7 index in May, the… Read More

PH producer prices up 1% in May

PH producer prices up 1% in May

July 2, 2018, 6:50 am

MANILA -- Producer prices in the manufacturing sector continued to increase in May, mainly driven by higher selling prices of tobacco and petroleum products, the Philippine Statistics Authority (PSA) reported over the weekend. PSA said the Producer Price Index (PPI) for manufacturing rose 1… Read More

Capital raising at record high in H1

Capital raising at record high in H1

July 1, 2018, 8:07 pm

MANILA -- Capital raised at the Philippine Stock Exchange (PSE) was at a record high of PHP150.01 billion in the first half of 2018. The amount raised in the first six months was 40.5 percent higher than the PHP106.74 billion recorded in the same period last year. The capital raising activities… Read More

D.M. Wenceslao completes P8.1-B IPO

D.M. Wenceslao completes P8.1-B IPO

June 29, 2018, 8:38 pm

MANILA -- Integrated property developer D.M. Wenceslao & Associates, Incorporated raised PHP8.1 billion through a successful initial public offering (IPO) on Friday. In a disclosure, D.M. Wenceslao said it sold 679.2 million shares, or 20 percent of its total issued shares at PHP12 per share. The… Read More

DOF: Weakest currencies come from Asia’s fastest growing economies

DOF: Weakest currencies come from Asia’s fastest growing economies

June 29, 2018, 6:25 pm

MANILA -- The Department of Finance (DOF) sought to allay domestic and foreign investors' fears that the depreciating peso is dragging the national economy down with it. In its economic bulletin released on Friday, DOF data showed that those countries with weakest currency performance this year… Read More

Bank lending growth sustained in May: Espenilla

Bank lending growth sustained in May: Espenilla

June 29, 2018, 6:18 pm

MANILA -- Preliminary data show that outstanding loans of commercial banks, net of reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas (BSP), grew at a slightly lower rate of 19.4 percent in May from 19.9 percent in April, BSP Governor Nestor Espenilla, Jr. said in a statement… Read More