BTr partially awards 91-day, 182-day T-bills

MANILA – The Bureau of the Treasury (BTr) partially awarded on Monday the three- and six-month Treasury bills (T-bills) after rates increased following last week’s rate hike decision by the Bangko Sentral ng Pilipinas (BSP).It offered all tenors for PHP5 billion each but only accepted... Read More

PH stocks slip, peso up ahead of Fed meeting

MANILA – Risk-off sentiments reigned in the local bourse on Monday ahead of the Federal Reserve meeting later in the week, resulting in the negative close of the main index but the peso gained against the United States dollar.The Philippine Stock Exchange index (PSEi) shed 0.51 percent, or... Read More

NEDA: Surge in agricultural imports unlikely under RCEP

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan refutes claims that the Regional Comprehensive Economic Partnership (RCEP) will allow the influx of agricultural imports in the country.“Several consultations with concerned stakeholders and studies... Read More

Oil up on expectations of improved Chinese demand

ANKARA – Oil prices rose on Monday due to strong demand in China, but further gains were limited by the United States decision to sell oil from emergency stockpiles and an unexpected build in the country's crude oil inventories.International benchmark Brent crude traded at $83.67 per barrel at... Read More

Bulacan to house largest veggie greenhouse complex

SAN RAFAEL, Bulacan – Manny V. Pangilinan’s Metro Pacific Investments Corp. (MPIC) has partnered with Israeli firm LR Group in building the largest vegetable greenhouse facility in the Philippines to be located in this town of Bulacan province.Jovy Hernandez, Metro Pacific Agro Ventures,... Read More

Fitch Solutions sees 50 bps hike in BSP key rates in May

MANILA – Fitch Solutions sees another 50 basis points increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates this May, noting projection for continued acceleration of domestic inflation and forecasts rate adjustments pause until end-2023.Last week, the BSP policy-making Monetary... Read More

Gasoline, diesel prices up; kerosene down

MANILA – Oil companies will adjust fuel prices on Tuesday.In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil and Shell said they will increase gasoline prices by PHP0.90 per liter and PHP1.05 per liter on diesel prices.On the other hand, Caltex, Seaoil and Shell will... Read More

PBBM bats for ‘innovative, sustainable’ manufacturing sector

MANILA – The Marcos administration is making the manufacturing sector innovative and sustainable in an effort to entice more foreign investors and make the Philippines a prime investment destination, a Trade official said on Saturday.During the Saturday News Forum in Quezon City, Lanie... Read More

P344-B investment leads in the pipeline: BOI

MANILA – Trade Secretary Alfredo Pascual said Saturday the Board of Investments (BOI) has investment leads of PHP344 billion, which would allow the agency to hit its target before the year ends.“So far, the agency has potential investment leads of around PHP344 billion that will still be... Read More

Diokno urges digital transformation to boost insurance sector

MANILA – Digital transformation and ensuring fairness of insurance premiums are among the keys to increase insurance penetration in the country, Finance Secretary Benjamin Diokno said.In his speech during the Insurance Commission's (IC) 74th anniversary celebration at the Philippine... Read More

Oil prices fall over weak demand signs in US

ANKARA – Oil prices fell further on Friday, as investors fear the Federal Reserve will not stop raising interest rates anytime soon, despite signs of stronger demand in China.International benchmark Brent crude traded at USD84.17 per barrel at 09:46 a.m. local time (0646 GMT), down 1.14... Read More

PSEi, peso end week down on inflation, central bank rate concerns

MANILA – The local stock barometer ended the week lower on inflation concerns and central banks’ rate hiking path and this was mirrored by the local currency. The Philippine Stock Exchange index (PSEi) shed 0.54 percent, or 36.89 points, to 6,779.02 points.All Shares followed with a... Read More

HSBC eyes add'l 50 bps hike in BSP key rates until May

MANILA – Expectations for sustained acceleration of domestic inflation rate make HSBC forecasts two 25 basis points increase in the Bangko Sentral ng Pilipinas’ key rates until May this year before monetary authorities pause the rate increases.In a report dated Feb. 16, HSBC Global... Read More

BSP fully awards 28-day bill amid rate uptick

MANILA – The Bangko Sentral ng Pilipinas’ (BSP) 28-day bill auction was oversubscribed on Friday but rate of the debt paper posted an uptick tracking the path of the central bank’s key rates.Data released by the central bank showed that the average rate of the bill rose to 6.4707... Read More

Envoy urges PH to boost exports to Qatar

By Ashraf SiddiquiDOHA – Exportation of more products could enhance bilateral trade between the Philippines and Qatar.During the two-day business matching session in Doha, Qatar that concluded on Thursday, Philippine ambassador to Qatar Lillibeth Pono said 2021 annual bilateral trade between... Read More

Oil prices up with positive China demand outlook

ANKARA – Oil prices increased on Thursday on expectations of a surge in oil demand in China, the world's largest oil importer.International benchmark Brent crude traded at $85.85 per barrel at 09:46 a.m. local time (0646 GMT), up 0.55 percent from the closing price of $85.38 a barrel in the... Read More

Investment approvals hit P478 billion in Q4 2022

MANILA – The Philippine Statistics Authority (PSA) on Thursday reported that registered investments both from local and foreign sources in investment promotion agencies (IPAs) improved by 17 percent to PHP478.16 billion in the fourth quarter of 2022 from PHP408.54 billion in the same quarter... Read More

Economists see further increases in BSP rates

MANILA – The path of the Federal Reserve’s key rates, the domestic inflation and the peso’s performance are expected factors on the future adjustments in the Bangko Sentral ng Pilipinas’ (BSP) key rates.On Thursday, the central bank’s policy-making Monetary Board (MB)... Read More

DTI urges Mitsubishi to bring Xpander production to PH

MANILA – The Department of Trade and Industry (DTI) is luring Japanese carmaker Mitsubishi Motors Corp. to assemble its multipurpose vehicle Xpander in the Philippines, according to a trade official.This, as Mitsubishi committed to infuse investments in its manufacturing operation here during... Read More

PSEi, peso end sideways on US retail sales report

MANILA – Both the local bourse’s main index and the peso ended Thursday sideways amidst the higher-than-expected January retail sales report in the United States.The Philippine Stock Exchange index (PSEi) shed by 0.09 percent, or 6.18 points, to 6,815.91 points.All Shares rose by 0.08... Read More