Business
Subdued November inflation expected, but Christmas uptick possible
December 5, 2023, 8:36 pm
MANILA – The subdued 4.1 percent inflation figure in November did not come as a shock to economists and retailers alike, who noted the easing of price pressures in November. In an interview on Tuesday, Carlos Manapat, economics department chair at the University of Santo Tomas, said inflation… Read More
PCCI names new president
December 5, 2023, 7:14 pm
MANILA – The country’s largest business organization Philippine Chamber of Commerce and Industry (PCCI) has named SamgyeopMasarap chain of restaurants owner Enunina “Nina” Mangio as its new president. Mangio, along with the 20-member board of directors of PCCI, was elected last Dec. 1 and… Read More
Stocks up on lower inflation data; peso ends sideways
December 5, 2023, 6:44 pm
MANILA – Local shares continued to close strong on Tuesday on last-minute bargain hunting due to lower inflation data, while the peso moved sideways. The Philippine Stock Exchange index (PSEi) gained 24.58 points to close at 6,308.95. All Shares, likewise, went up 4.58 points to 3,352.02. "This… Read More
PH to leverage pact with UAE to lure investments
December 5, 2023, 6:36 pm
MANILA – Now that the Investment Promotion and Protection Agreement (IPPA) between Manila and Abu Dhabi is in full swing, the Board of Investments (BOI) aims to leverage the deal to lure investments from the United Arab Emirates (UAE). This, as Department of Trade and Industry (DTI) Secretary… Read More
PH to sustain strong economic growth: World Bank
December 5, 2023, 6:34 pm
MANILA – The World Bank on Tuesday said the Philippine economy is expected to continue to post strong growth but fully implementing key reforms to boost investments is crucial to sustain growth. "We anticipate that the Philippine economy will continue to exhibit strong performance in the next… Read More
BTr fully awards re-issued Treasury bonds
December 5, 2023, 5:37 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the re-issued 10-year Treasury bonds (T-bonds). With a remaining term of nine years and eight months, the re-issued bond fetched an average rate of 6.224 percent, lower than the 6.781 percent when it was last re-issued Nov. 14.… Read More
BSP to keep policy settings ‘sufficiently tight’ for now
December 5, 2023, 4:21 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Tuesday vowed to keep policy settings “sufficiently tight” despite another deceleration of inflation rate last month, noting that risks continue to lean on the upside. The rate of price increases slowed for the second consecutive month in… Read More
Inflation further eases to 4.1% in November
December 5, 2023, 12:35 pm
MANILA – The country's headline inflation further eased to 4.1 percent in November this year, the lowest recorded since the 4 percent in March 2022, the Philippine Statistics Authority (PSA) said. In a briefing on Tuesday, National Statistician Dennis Mapa said the headline inflation last month… Read More
PSEi strong, peso ends sideways ahead of inflation data
December 4, 2023, 8:02 pm
MANILA – Local shares closed strong ahead of the release of inflation data while the peso ended the day sideways. The Philippine Stock Exchange index (PSEi) finished the day 13.83 points higher to 6,259.01, with All Shares also ending in the green territory at the 3,337.25 level, up by 5.03… Read More
Fuel price adjustments set Dec. 5
December 4, 2023, 5:44 pm
MANILA – Oil companies will adjust pump prices of petroleum products starting Dec. 5. In separate announcements Monday, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil and Shell said they will increase gasoline prices by PHP0.30 per liter and will slash diesel prices by PHP0.30 per liter.… Read More
Mixed results mark auction of T-bills
December 4, 2023, 5:31 pm
MANILA – Results were mixed in Monday's Treasury bills (T-bills) auction as the Bureau of the Treasury (BTr) fully awarded bids for the 91-day T-bills while partially awarding the 182- and 364-day securities. The 91-day T-bills fetched an average rate of 4.996 percent, while the 182- and 364-day… Read More
PH aerospace exports to UAE seen to grow with CEPA
December 4, 2023, 3:15 pm
MANILA – Aerospace exports is one of the Philippine sectors that is expected to get a boost from the Comprehensive Economic Partnership Agreement (CEPA), a free trade deal between Manila and Abu Dhabi, a senior trade official said Monday. In a press briefing, Department of Trade and Industry… Read More
Diokno calls for New Collective Quantified Goal on climate finance
December 4, 2023, 2:30 pm
MANILA – Department of Finance (DOF) Secretary Benjamin Diokno cited the need to immediately set up the New Collective Quantified Goal (NCQG) on climate finance to strengthen countries’ climate action. Diokno made the statement during the 2023 High-level Ministerial Dialogue (HLMD) on the New… Read More
PH ranks 4 in power sector investments
December 4, 2023, 1:32 pm
MANILA – Department of Energy (DOE) Assistant Secretary Mylene Capongcol welcomed the BloombergNEF Climate 2023 report, which propelled the Philippines to the top 5 as one of the most attractive emerging markets for investments in the power sector. The Philippines moved up six places to number 4… Read More
Investment mgmt firm projects PH economic growth at 5.6% in 2023
December 3, 2023, 11:00 pm
MANILA – Sun Life Investment Management and Trust Corporation (SLIMTC) projects Philippine economic growth to accelerate next year, driven by consumption and ramped up government spending. In a recent interview, SLIMTC president and chief investment officer Michael Enriquez said economic… Read More
Manila’s luxury residences fastest growing prices globally - report
December 1, 2023, 6:42 pm
MANILA – The Philippine capital has logged the fastest growing price in luxury residential market across the world, real estate consultancy firm Santos Knight Frank (SKF) said. In a press conference in Makati City on Friday, the SKF said the price growth of Manila’s prime residences was… Read More
PH, UAE agree to construct 500-MW capacity data centers
December 1, 2023, 6:18 pm
MANILA – The Philippines and the United Arab Emirates (UAE) target to put up data centers here with around 500 megawatts of capacity as the two countries signed a memorandum of understanding (MOU) to boost the digital infrastructure. In a statement Friday, the Department of Trade and Industry… Read More
PSEi up as investors buy bargain stocks; peso moves sideways
December 1, 2023, 5:30 pm
MANILA – The local stock market ended the last trading day of the week on a positive note while the peso moved sideways on Friday. The Philippine Stock Exchange index (PSEi) gained 21.45 points to close at 6,245.18 while All Shares also went up by 4.39 points to 3,332.22. Almost all sectors… Read More
PEZA drafts guidelines for halal ecozones
December 1, 2023, 4:30 pm
MANILA – The Philippine Economic Zone Authority (PEZA) is currently drafting guidelines to incentivize activities related to the halal industry. PEZA Ecozone Development Department Manager Ludwig Daza recently told the Philippine News Agency that the investment promotion agency (IPA) aims to… Read More
OPEC+ countries announce daily voluntary output cuts by 2.2M barrels
December 1, 2023, 4:28 pm
ANKARA – Several OPEC+ countries announced Thursday that they have agreed to voluntarily cut oil production by a total of 2.2 million barrels per day (bpd) in the first quarter of 2024. The additional voluntary cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and… Read More
