Business

Central Luzon inflation rate rises to 6.7% in May

CITY OF SAN FERNANDO, Pampanga – The inflation in Central Luzon climbed to 6.7 percent in May 2022, the highest annual rate recorded in the region since January 2019, the Philippine Statistics Authority-Regional Statistical Services Office (PSA-RSSO) reported on Thursday.The latest figure was... Read More

SEC expands online payment options

MANILA – The Securities and Exchange Commission (SEC) continues to add new options for its online payment system, making payment for registration and transaction fees faster and more convenient for the public. Clients can now use their GCash payment wallets to settle registration and other... Read More

Mezzanine investor raising P1.5-B for PH medium firms

MANILA – ARQCapital Partners, a pioneer mezzanine investor in the Philippines, is raising PHP1.5 billion to fund the capital of 50 high-growth medium enterprises over the next two years.In a virtual press conference Wednesday, ARQ founding partner and chief executive officer Edmund Solilapsi... Read More

BSP’s term deposit facility rates rise anew

MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose on Wednesday, but both the seven and 14-day tenors registered oversubscription.Central bank data showed that the average rate of the one-week facility, which is among the central bank’s... Read More

Stocks index rises anew; peso still on sideways close

MANILA – The main equities gauge posted another uptick on Wednesday even with global growth concerns while the peso finished the day sideways against the US dollar.The Philippine Stock Exchange index (PSEi) rose by 0.23 percent, or 15.61 points, to 6,769.62 points.All Shares followed with a... Read More

Fiscal consolidation needed vs. hikes in debt-to-GDP ratio

MANILA – The increase of the Philippines’ debt-to-gross domestic product (GDP) ratio above the 60 percent international acceptable threshold during the pandemic remains acceptable as long as fiscal consolidation will be pursued.According to the study titled “Fiscal effects of the... Read More

PH, Israel sign investment promotion, protection deal

MANILA – The Philippines and Israel have vowed to strengthen bilateral economic relations by signing the Investment Promotion and Protection Agreement (IPPA).On Wednesday, the Department of Trade and Industry (DTI) said Secretary Ramon Lopez and Israel Finance Minister Avigdor Lieberman signed... Read More

World economy in 'danger of stagflation,' warns World Bank

ANKARA – The global economy now faces a danger of stagflation not seen since the 1970s, the World Bank warned on Tuesday."This time it is facing high inflation and slow growth at the same time," said David Malpass, the bank’s president.The global body on Monday sharply lowered its 2022... Read More

IT-BPM industry revenues surpass recalibrated target

MANILA – The Philippine information technology and business process management (IT-BPM) sector has reached its 2022 target ahead of schedule as it ended 2021 with revenues amounting to USD29.49 billion.The IT and Business Process Association of the Philippines (IBPAP) reported Wednesday that... Read More

Stocks recover on risk-on sentiments; peso ends sideways

MANILA – Risk-on sentiments reigned in the local bourse on Tuesday but the peso finished sideways against the US dollar.After sliding for several days due to global growth concerns, among others, the Philippine Stock Exchange index (PSEi) rose by 0.55 percent, or 37.13 points, to 6,754.01... Read More

DOE bats for oil deregulation law review

MANILA – The Department of Energy (DOE) will ask the 19th Congress to prioritize the review of the oil deregulation law as the agency aims to ease petroleum prices.During the Laging Handa public briefing Tuesday, DOE Undersecretary Gerardo Erguiza Jr. said the agency wants to regain its... Read More

Climate change mitigation crucial to socioeconomic planning: NEDA

MANILA – Climate change adaptation and mitigation need to be placed at the heart of socioeconomic planning for the country to achieve its 2040 vision of eradicating extreme poverty, the National Economic and Development Authority (NEDA) said Tuesday.“Addressing the triple planetary... Read More

Firm, transport groups roll out 450 modern PUVs in Bicol

MANILA – Supporting the government’s Public Utility Vehicle Modernization Program (PUVMP), Hyundai Asia Resources Inc. (HARI) and 30 local transport cooperative groups have signed a memorandum of understanding (MOU) for the rollout of more modern PUVs in Bicol.Under the MOU, Hyundai... Read More

BTr partially awards 5-year T-bond as rate rises

MANILA – The continued acceleration of the domestic inflation rate made investors demand a higher yield, which resulted in the partial award by the Bureau of the Treasury (BTr) of the five-year Treasury bond (T-bond) on Tuesday.The average rate of the debt paper rose to 5.514 percent from... Read More

Cebu developer ramps up investments as VisMin economy perks up

CEBU CITY – Seeing post-pandemic full business potentials, a Cebu-based real estate developer is looking to deepen its investments in the Visayas and Mindanao to support the continued economic recovery in these regions.Jose Soberano III, Cebu Landmasters Inc. (CLI) chairman and chief executive... Read More

May inflation uptick still within forecast: Diokno

MANILA – Further acceleration of the inflation rate, which rose to 5.4 percent last May, the highest since December 2018, remains within forecast, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said.The BSP projected the May 2022 inflation to stay between 5 to 5.8... Read More

EO 171, fuel subsidies help ease global inflationary pressures

MANILA – The National Economic and Development Authority (NEDA) has highlighted the issuance of Executive Order (EO) No. 171 and the government’s fuel subsidy program in helping ease the impact of global inflationary pressures.The Philippine Statistics Authority (PSA) on Tuesday reported... Read More

PSEi slips on Fed rate hike expectations; peso nearly unchanged

MANILA – Expectations for continued hikes in the Federal Reserve’s key rates hurt the local stock barometer but the peso finished unchanged against the US dollar.The Philippine Stock Exchange index (PSEi) shed 0.36 percent, or 24.52 points, to 6,716.88 points.All Shares followed with a... Read More

BTr fully awards 3, 6-month T-bills

MANILA – The Bureau of the Treasury (BTr) fully awarded the 91-day and 182-day Treasury bills (T-bills) but partially awarded the 364-day tenor during an auction on Monday after investors asked for high yields.It offered all tenors for PHP5 billion each. The auction committee awarded PHP3.924... Read More

Oil jumps as Saudi price hike decision fuels supply concerns

ANKARA – Oil prices climbed on Monday as Saudi Arabia's decision to raise crude prices for its sales in July increased supply concerns although the OPEC+ group pledged a limited output boost.International benchmark Brent crude was trading at USD120.38 per barrel at 0640GMT for a 0.55 percent... Read More