Business

Chemical, food maker sees another record profit in 2023

MANILA – Food ingredients and plastics manufacturer D&L Industries is optimistic about surpassing this year’s record earnings in 2023 as the economy further reopens.In a media interview Monday after the marking of the firm’s 10th listing anniversary, D&L president and chief... Read More

Oil up with closure of Keystone pipeline in US

ANKARA – Oil prices rose on Monday due to supply concerns as the Keystone pipeline in the United States was shut down due to the largest crude oil spills in roughly 10 years, while tensions in the Russia-Ukraine war rose as Russia threatened to cut production in response to the price cap on... Read More

PH stocks end sideways, peso slips ahead of Fed, BSP meetings

MANILA – The local bourse’s main index ended the week’s first trading day sideways but the peso weakened to a United States dollar ahead of the policy meetings of the Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). The Philippine Stock Exchange index (PSEi) gained 0.08... Read More

C. Luzon’s inflation rate climbs to 8.8% in November

CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon has continued to rise to 8.8 percent in November from 8.4 percent in October 2022, based on the latest report of the Philippine Statistics Authority-Regional Statistical Services Office (PSA-RSSO) III.This is the highest... Read More

Big-time oil price rollback set this week

MANILA – Motorists and consumers will be greeted with big-time price rollbacks on petroleum products starting 12:01 a.m. Tuesday.In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil and Shell said they will cut gasoline prices by PHP1.70 per liter and diesel prices by... Read More

PH stocks index recovers, peso ends sideways

MANILA -- The Philippine Stock Exchange index (PSEi) recovered on Friday ahead of the release of the US Producer Price Index (PPI) for November and this optimism benefited the peso. The Philippine Stock Exchange index (PSEi) gained 0.84 percent, or 54.96 points, to 6,580.12 points. All Shares... Read More

BSP 28-day bill rate up anew amid hawkish sentiment

MANILA – Expectations for the sustained rise of interest rates resulted in another increase in the Bangko Sentral ng Pilipinas’ (BSP) 28-day bill yield on Friday.Data released by the central bank showed that the average rate of the debt securities rose to 6.2647 percent from 6.1740... Read More

Economic managers back bill creating Maharlika Wealth Fund

MANILA – The country’s economic managers on Friday expressed their full support behind the creation of the Maharlika Wealth Fund (MWF), saying it would serve “as a vehicle to move forward the agency for prosperity and achieve the economic goals of the... Read More

Economic data point to strong Q4 growth: Diokno

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

BSP term deposit facility rates rise anew

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

PSEi slips, peso improves to nearly 4-month high

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

National Treasurer backs establishment of gov’t wealth fund

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

Manufacturing output, value rise in October 2022

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

PH unemployment slows down to 4.5% in October

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

NEDA confident of sustained growth with new PH dev’t plan

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

PH stocks index recovers, peso ends sideways

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

PPP in management of sovereign wealth fund pushed

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

Oil up as traders cash in on low prices over recession fears

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

PBBM wants more ecozones in BARMM: PEZA

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

DTI vows continued support to MSMEs in Zambales

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