Report: RCEP to boost FDIs to PH

MANILA – The Philippines is expected to benefit from the ratification of the Regional Comprehensive Economic Partnership (RCEP) initially through higher foreign direct investments (FDIs), a report by banking giant HSBC said.According to a report by HSBC Global Research dated Feb. 23, despite... Read More

European firms tap PH remittance market

MANILA – Cyprus-based software developer Armenotech and money transfer firm Tempo France have partnered with the country's Cebuana Lhuillier to take advantage of the Philippine remittance market.In a statement shared to the media Friday, Armenotech and Tempo France said their partnership with... Read More

Metrobank branches open up to 3 p.m. on EDSA holiday

MANILA – Metrobank will continue to operate until 3 p.m. on Friday amid the declaration of a special non-working holiday nationwide in commemoration of the EDSA People Power Revolution anniversary.In an advisory, the bank however said that while its branches may accept check deposits, these... Read More

Trust company sees sustained robust expansion for PH economy

MANILA -- An official of the investment management arm of AIA Philippines is optimistic on the robust growth of the domestic economy as the manufacturing sector continues to expand.In a briefing on Thursday, AIA Investment Management and Trust Corporation Philippines (AIAIM Philippines) chief... Read More

Peso up as PSEi slips on worries over next Fed rate decision

MANILA -- Risk-off sentiments continued to weigh on the local bourse, resulting in another negative close for the Philippine Stock Exchange index (PSEi), but the peso recovered against the greenback.The PSEi went down by 0.20 percent, or 13.33 points, to 6,685.90 points.All Shares also went down by... Read More

DTI: 26% of PH exports depend on EU GSP+

MANILA – The Department of Trade and Industry (DTI) has underscored the importance of the European Union (EU) Generalized Scheme of Preferences Plus (GSP+) to the Philippines in a meeting with the visiting representatives of the EU Parliament.DTI Secretary Alfredo Pascual met with... Read More

Oil prices rise amid fears over Russian supply cuts

ANKARA -- Oil prices increased on Thursday on expectations that Russia will cut its oil exports more than previously announced.International benchmark Brent crude traded at $80.79 per barrel at 9:35 a.m. local time (0635 GMT), up 0.24 percent from the closing price of $80.60 a barrel in the previous... Read More

Trade chief hikes BOI investment targets to P1.5-T

MANILA – Trade Secretary Alfredo Pascual has revised upward the investment approval targets for the Board of Investments (BOI) from PHP1 trillion to PHP1.5 trillion this year.“Given the strong investment approvals for January, as well as the robust pipeline of investment leads... Read More

PetroWind gets P1.8-B loan to finance Aklan wind project

MANILA – The 13.2-megawatt Nabas-2 wind power project in Aklan province has secured financing from the state-run Development Bank of the Philippines (DBP).This, as listed energy firm PetroWind Energy, Inc. (PWEI) disclosed to the Philippine Stock Exchange (PSE) Thursday that it entered into a... Read More

DHL Express upgrades aircraft in PH

MANILA – With the upbeat business activities as the Philippines reopens the economy from the coronavirus disease 2019 (Covid-19) restrictions, DHL Express has upgraded its dedicated aircraft in the country that can load larger capacity and meet the growing logistics demand.DHL Express launched... Read More

Stocks down on lack of catalysts, peso weakens

MANILA – The local stock barometer closed lower on Wednesday amid a lack of positive catalysts to drive a market rally while the peso trailed behind.The Philippine Stock Exchange index (PSEi) shed 1.50 percent, or 101.73 points, to 6,699.23 points.All Shares trailed after it slipped by 1.17... Read More

BPO firms now favor locating in provinces than Metro Manila

MANILA – More business process outsourcing (BPO) companies favor provinces as their next office than locating in Metro Manila, according to property services firm KMC Savills.In a briefing in Taguig City Wednesday, KMC Savills research and consultancy senior manager Frederick Rara said there... Read More

BSP term deposit facility posts strong demand, rates up

MANILA – The Bangko Sentral ng Pilipinas (BSP) fully awarded both the seven-day and 14-day term deposit facility (TDF) tenors on Wednesday due to strong demand despite the uptick in rates.It lowered the offer volume for the seven-day facility to PHP150 billion from last week’s PHP190... Read More

PH businesses urged to make good use of RCEP benefits

MANILA – As the country finally ratified the Regional Comprehensive Economic Partnership (RCEP) after two years, Department of Trade and Industry (DTI) Secretary Alfredo Pascual has encouraged Philippine-based businesses to take advantage of the benefits of the new trade pact.Pascual told... Read More

NEDA chief: RCEP to fuel PH economic growth

MANILA – As the Senate concurred with the ratification of the Regional Comprehensive Economic Partnership (RCEP) Tuesday evening, the Marcos administration’s top economist is optimistic that the new free trade agreement (FTA) will fuel the country’s economic growth.National... Read More

Report: PH seen to weather possible global recession

MANILA – The Philippine government’s push to increase its infrastructure spending and the recovery of the manufacturing sector, among others, are expected to buoy the domestic economy from the impact of the possible recession in the United States.According to February 2023 issue of The... Read More

BTr fully awards 10-year T-bond

MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday a 10-year Treasury bond after it fetched a rate that was lower than in the secondary market.It offered the debt paper for PHP35 billion and bids reached nearly three times at PHP92.254 billion.The average rate of the T-bond... Read More

PSEi up on positive earnings data as peso weakens vs. dollar

MANILA – The local bourse’s main index recovered on Tuesday after a three-day decline, boosted by positive earnings reports by local listed firms, but the peso weakened against the United States dollar.The Philippine Stock Exchange index (PSEi) gained 0.84 percent, or 56.84 points, to... Read More

MBC backs creation of water office, RCEP concurrence

MANILA – The Makati Business Club (MBC) supports the Marcos administration’s establishment of a Water Resources Management Office (WRMO) and the concurrence of the Regional Comprehensive Economic Partnership (RCEP).In statements released on Tuesday, the MBC said the creation of the WRMO... Read More

Small biz can secure financing from banks via CSF cooperative

MANILA – Small businesses now have greater chances to securing funding from banks once they become part of a cooperative accredited by the Credit Surety Fund (CSF).Cooperative Development Authority (CDA) senior cooperative development specialist and head of CSF Section of CDA National Capital... Read More