ANKARA – Oil prices were mixed on Tuesday as negative global economic growth forecasts raised demand concerns, while a buyout deal of the defunct Silicon Valley Bank (SVB) allayed investor concerns about the United States banking system.International benchmark Brent crude traded at $77.65 per... Read More
MANILA – News about an investor buying deposits and loans of collapsed Silicon Valley Bank (SVB) lifted sentiments, resulting in the recovery of the local bourse’s main index on Tuesday, but the peso ended weaker.The Philippine Stock Exchange index (PSEi) rose by 0.12 percent, or 8.12... Read More
MANILA – The proposed merger of the state-owned Land Bank of the Philippines (Landbank) and the Development Bank of the Philippines (DBP) is expected to result in savings of about PHP5 billion annually for the government. “For the projected operating cost savings due to the merger, (it)... Read More
MANILA – The average rate of the seven-year Treasury bond (T-bond) fell on Tuesday, resulting in the full award of the debt paper at PHP25 billion. The rate of the securities slipped to 6.162 percent from 6.796 percent when it was last auctioned in January this year. Bids reached PHP46.9... Read More
MANILA – Manny V. Pangilinan’s Metro Pacific Investments Corp. (MPIC) is investing in the Leviste family’s renewable energy (RE) firm SP New Energy Corp. (SPNEC), which aims to be the largest RE company in the country.In a disclosure to the Philippine Stock Exchange Tuesday, MPIC... Read More
MANILA – The Bureau of the Treasury (BTr) partially awarded both the 91- and 182-day Treasury bills (T-bills) on Monday but fully awarded the 364-day tenor following the upticks of the debt papers’ rates.It offered all tenors PHP5 billion each but awarded PHP1.428 billion worth of... Read More
MANILA – With inflation expected to remain elevated in most of 2023, Fitch Solutions Country Risk and Industry Research forecasts another 25 basis points hike in the central bank’s key rates in May, seen as the last for the year. Last week, the Bangko Sentral ng Pilipinas’ (BSP)... Read More
MANILA – The local bourse’s main index started the week in the negative territory ahead of the release of several major economic data releases both here and in the United States, while the peso finished the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi)... Read More
LAOAG CITY – Officials of leading business companies in India visited the province of Ilocos Norte on Monday to establish linkages with the local government and business partners here.Dileep Tiwari, the managing director of Biocare Life Sciences Inc., said in an interview that they are looking... Read More
MANILA – Oil companies will implement another price rollback on March 28, bringing fuel prices down for three straight weeks.Starting 12:01 a.m. Tuesday, Caltex, Cleanfuel, Jetti, Phoenix Petroleum, Petro Gazz, Seaoil, Shell and Unioil will reduce gasoline prices by PHP0.85 per liter and... Read More
ANKARA–China is projected to give a significant boost to the world economy, accounting for about a third of global growth in 2023, the managing director of the International Monetary Fund said on Sunday.“The robust rebound means China is set to account for around one third of global... Read More
MANILA – The Australian government, through the Partnerships for Infrastructure (P4I) program, will help the Philippines to attract investments in key infrastructure projects. At the launching of the P4I in Pasay City Friday, Australian Ambassador to the Philippines Hae Kyong Yu PSM said the... Read More
MANILA – Any adjustment in banks’ reserve requirement ratio (RRR) will be done once domestic inflation rate is on sustainable downward path, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said. In an interview with journalists on Friday, Medalla said cutting the RRR now will... Read More
MANILA – With the peso now stabilizing against the United States dollar, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said Friday they can now focus in further addressing the elevated inflation rate, which is expected to return to within-target levels by October 2023. In his... Read More
ISTANBUL -- The United States Federal Reserve raising interest rates once again despite the banking crisis is "disappointing," according to the chief economist at Moody's Analytics."The quarter percentage point rate hike won't be what breaks things, but it shows the Fed's willingness to take that... Read More
MANILA – Several business groups said Friday the government can shift the budget for the proposed constitutional convention (con-con) to priority projects and measures that will address the current challenges of Filipinos. In a joint statement, the Filipina CEO Circle, the Financial Executive... Read More
MANILA – Local shares mostly rallied on Friday after the 25 basis points increase in the Federal Reserve’s key rates on Thursday while the peso ended the week sideways against the United States dollar.The Philippine Stock Exchange index (PSEi) rose by 1.01 percent, or 65.81 points, to... Read More
MANILA – Speaker Ferdinand Martin G. Romualdez on Friday urged the Filipino-Chinese business community to help the government and Congress in creating more jobs so Filipinos would not have to go abroad for employment opportunities.“We hope we can count on the support of the federation in... Read More
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) 28-day bills registered undersubscription on Friday and its rate rose a day after the central bank again hiked its key rates. Data released by the central bank showed that the average rate of the debt paper rose to 6.7650 percent from... Read More
MANILA – Local food producers are proposing innovative ways to improve the overall system of transporting produce from the farm to the consumer to reduce the retail prices of agricultural goods.Speaking at the Philippine Chamber of Agriculture and Food, Inc. (PCAFI) press briefing Wednesday,... Read More
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