MANILA — Finance Secretary Benjamin Diokno expects the continued expansion of the domestic economy, citing improvement in the labor and manufacturing sectors.“The recent economic numbers all point to a sustained, strong fourth quarter economic performance,” he told journalists in a... Read More
MANILA – The rate of the Bangko Sentral ng Pililipinas’ (BSP) term deposit facility rose anew on Wednesday and appetite was for the shorter-dated tenor.Data released by the central bank showed that the average rate of the seven-day facility rose to 5.9346 percent from 5.7514 percent... Read More
MANILA – The local bourse’s main index ended Wednesday in the negative territory on worries whether the Federal Reserve’s measures are working but the peso improved to its nearly four-month high against the United States dollar.The Philippine Stock Exchange index (PSEi) shed 2.24... Read More
MANILA — National Treasurer Rosalia de Leon backs measures to study the proposed Maharlika Wealth Fund (MWF), citing the eight safety measures included in the bill that are expected to protect public funds.“We support the calls to study the bill to ensure that risks management is in... Read More
MANILA – The Philippine manufacturing sector logged faster growth rates in volume and value indices in October 2022, the Philippine Statistics Authority’s (PSA) Monthly Integrated Survey of Selected Industries (MISSI) reported Wednesday.Volume of production index (VoPi) in October this... Read More
MANILA – The country’s unemployment rate slowed down to 4.5 percent in October 2022 from 5 percent in September this year, the Philippine Statistics Authority (PSA) reported Wednesday.In a press conference, PSA chief and national statistician Undersecretary Dennis Mapa said the... Read More
MANILA – The Philippine economy remains robust and will be able to sustain its growth momentum, the National Economic and Development Authority (NEDA) said.In his presentation during the House Committee on Economic Affairs briefing on Monday, NEDA Secretary Arsenio Balisacan highlighted the... Read More
MANILA – The Philippine Stock Exchange index (PSEi) recovered on Tuesday while the peso ended the day sideways against the United States dollar after improving to 55-level. After starting the week down, the main equities index rose by 36.1 percent, or 232.25 points, to 6,674.38 points. All... Read More
MANILA – Go Negosyo founder Joey Concepcion, also Private Sector Advisory Council (PSAC) jobs group lead, said the government may partner with the big names in the business community to manage the proposed Maharlika Wealth Fund, a sovereign wealth fund.During the Laging Handa public briefing... Read More
ANKARA – Oil prices edged higher on Tuesday after traders took advantage of profit-taking from Monday’s low prices, although gains were limited by supply fears after the European Union and G7 states banned Russian oil and capped prices at $60 a barrel.International benchmark Brent crude... Read More
MANILA – President Ferdinand R. Marcos Jr. wants to develop more economic zones in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), a Philippine Economic Zone Authority (PEZA) official said.PEZA deputy director general Aleem Siddiqui Guiapal told the Philippine News Agency that... Read More
SUBIC BAY FREEPORT – The provincial office of the Department of Trade and Industry (DTI) in Zambales province has vowed to continue supporting local entrepreneurs in line with the government’s active involvement in regional development.DTI officer-in-charge, provincial director Enrique... Read More
MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday the 12-year Treasury bond (T-bond) due to strong demand and the decline in the debt paper’s key rate. The average rate of the securities slipped to 7.189 percent from 8.168 percent previously. The BTr offered the debt... Read More
MANILA – The hike of domestic inflation rate last November to 8 percent from 7.7 percent in the previous month is within the Bangko Sentral ng Pilipinas’ (BSP) expectations, and it sees risks to be balanced only by 2024 after decelerating in the coming months.“Inflation is... Read More
MANILA – Faster increase in prices of goods and services was reported anew in November this year, as the inflation rate rose to 8 percent from 7.7 percent in October 2022.Philippine Statistics Authority (PSA) deputy national statistician Divina Gracia del Prado reported in a press briefing... Read More
DUMAGUETE CITY – The head of the Negros Oriental Chamber of Commerce and Industry (NOCCI) on Monday urged creative content artists to formally organize themselves and register their businesses or groups for better mileage and other opportunities.Edward Du, NOCCI president, said many of these... Read More
MANILA – Economic managers on Monday slashed the government’s 2023 growth assumption from 6.5-8 percent to 6-7 percent after considering the impact of external developments on the domestic economy.At a briefing, Budget and Management Secretary and chair of the inter-agency Development... Read More
MANILA – Finance Secretary Benjamin Diokno is looking at the approval of the proposed sovereign wealth fund (SWF) by mid-2023, and cited long term gains that will benefit the economy.In an interview by journalists after the economic managers’ meeting on Monday, Diokno discounted the... Read More
MANILA – Oil firms will implement another big-time price rollback on Dec. 6, bringing domestic fuel prices down for three consecutive weeks.Starting 12:01 a.m. Tuesday, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell will slash gasoline prices by PHP1.95 per liter and PHP1.90... Read More
MANILA – Homebuilder and integrated property developer Vista Land & Lifescapes Inc. will ramp up the launch of residential projects in 2023 to help curb the rising housing backlog as the situation improves with the reopening of the economy.Vista Land chairman Manuel Villar Jr. told... Read More
The Philippine News Agency is a web-based newswire service of the Philippine government under the supervision of the News and Information Bureau (NIB) of the Presidential Communications Office (PCO).