Business

PSEi down on last-minute selling, peso nearly flat

PSEi down on last-minute selling, peso nearly flat

April 12, 2024, 7:37 pm

MANILA – The local stock barometer dropped on Friday due to last-minute selling while the peso closed flat. The Philippine Stock Exchange index (PSEi) shed 18.26 points to 6,659.39 while the broader All Shares declined by 8.47 points to 3,517.40. Philstock Financials, Inc. assistant research… Read More

Consumers' sentiment improves, business less upbeat in Q1

Consumers' sentiment improves, business less upbeat in Q1

April 12, 2024, 6:44 pm

MANILA – The additional income and availability of more jobs helped improve consumer sentiment in the first quarter of the year but business confidence turned less upbeat due to persistent inflationary pressures, results of a Bangko Sentral ng Pilipinas (BSP) survey showed. In a virtual… Read More

US, Japanese firms invited to participate in Luzon projects

US, Japanese firms invited to participate in Luzon projects

April 12, 2024, 4:08 pm

MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual presented three key projects designed to spur growth in the Luzon Economic Corridor at a meeting in Washington, D.C., and urged United States and Japan companies to participate. The meeting on Thursday was also attended… Read More

IMF chief warns against weak global economic growth

IMF chief warns against weak global economic growth

April 12, 2024, 2:54 pm

ISTANBUL – International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday warned against weak global economic growth. "The sobering reality is global economic activity is weak by historical standards," she said during her speech at the Atlantic Council. "Prospects for… Read More

Factory output growth picks up in February

Factory output growth picks up in February

April 12, 2024, 2:33 pm

MANILA – Manufacturing output grew at a faster pace in February this year, the Philippine Statistics Authority (PSA) said on Friday.  The PSA's Monthly Integrated Survey of Selected Industries showed that the Value of Production Index (VaPI) grew by 7.5 percent in February, up from the 5… Read More

Bank lending up, domestic liquidity slows in Feb

Bank lending up, domestic liquidity slows in Feb

April 12, 2024, 10:48 am

MANILA – Bank lending of universal and commercial banks (U/KBs) grew at a faster pace in February this year while domestic liquidity growth slowed. Data released by the Bangko Sentral ng Pilipinas (BSP) released late Thursday showed that banks' outstanding loans, excluding those placed in the… Read More

DTI: Marketing stunts need to secure permit

DTI: Marketing stunts need to secure permit

April 11, 2024, 7:28 pm

MANILA – Following the recent online uproar over takoyaki store’s marketing stunt on April Fool’s Day, the Department of Trade and Industry (DTI) reminded businesses to secure permits from the agency first before conducting such activity. In an interview with Bagong Pilipinas Ngayon on… Read More

Local shares fall to 6,600 mark, peso closes sideways

Local shares fall to 6,600 mark, peso closes sideways

April 11, 2024, 6:45 pm

MANILA – The local bourse returned from the holiday weak on Thursday, falling to the 6,600 mark even as the peso closed sideways. The Philippine Stock Exchange index (PSEi) ended the day lower by 0.94 percent, or 63.42 points, at 6,677.65 after a two-day trading break amid the holidays, with All… Read More

Trade deficit down in February

Trade deficit down in February

April 11, 2024, 5:05 pm

MANILA – The country's trade deficit went down by 6 percent in February this year, the Philippine Statistics Authority (PSA) said. Preliminary data released on Thursday showed that the balance of trade in goods or the difference between the value of exports and imports posted a deficit of… Read More

ADB: PH to post higher growth in 2024 and 2025

ADB: PH to post higher growth in 2024 and 2025

April 11, 2024, 4:02 pm

MANILA – The Philippines will continue to be among the fastest-growing economies in Southeast Asia this year and in 2025, Manila-based lender Asian Development Bank (ADB) said on Thursday. In its Asian Development Outlook (ADO) April 2024 report, the ADB projected the Philippine economy to grow… Read More

Fed wants to see more 'confidence' to begin lowering rates

Fed wants to see more 'confidence' to begin lowering rates

April 11, 2024, 3:35 pm

ISTANBUL – The US Federal Reserve wants to see more "confidence" that inflation is moving closer to its 2 percent target before cutting interest rates, minutes of the recent Federal Open Market Committee (FOMC) meeting showed. "Participants noted indicators pointing to strong economic momentum… Read More

Unemployment rate falls to 3.5% in February

Unemployment rate falls to 3.5% in February

April 11, 2024, 1:39 pm

MANILA – Unemployment rate fell to 3.5 percent in February this year from 4.5 percent in January, the Philippine Statistics Authority (PSA) reported on Thursday. In a briefing, National Statistician Dennis Mapa said based on the time series, the unemployment rate during the month was the second… Read More

ECB interest rate decision to focus on wage developments

ECB interest rate decision to focus on wage developments

April 11, 2024, 1:25 pm

ISTANBUL – Wage developments will be the key factor for whether or not the European Central Bank (ECB) decides to cut interest rates, economists told Anadolu ahead of the bank's meeting next Thursday. Pointing to lower-than-expected March inflation figures, Peter Vanden Houte, chief economist at… Read More

Global trade expected to return to growth in 2024

Global trade expected to return to growth in 2024

April 11, 2024, 12:39 pm

ANKARA – Global merchandise trade is expected to return to growth this year following a steeper than expected contraction due to high energy prices and inflation in 2023, according to a World Trade Organization (WTO) report released on Wednesday. World merchandise trade volume will grow 2.6… Read More

GoNegosyo taps mentors to teach Bataan youth business

GoNegosyo taps mentors to teach Bataan youth business

April 10, 2024, 5:02 pm

MANILA – GoNegosyo is bringing its mentorship program for students and youth in Bataan after a successful leg in Pasig on April 8, its founder Joey Concepcion said Wednesday. Concepcion, who also serves as the country’s Private Sector Lead for Jobs, said GoNegosyo is committed to helping the… Read More

FDI net inflows up in Feb 2024

FDI net inflows up in Feb 2024

April 10, 2024, 2:14 pm

MANILA – Foreign direct investments (FDI) net inflow went up by 89.9 percent in February this year. Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that FDI net inflows during the month amounted to USD907 million, up from the USD478 million recorded in January 2023.… Read More

Oil prices rise with Middle East tensions

Oil prices rise with Middle East tensions

April 9, 2024, 7:04 pm

ANKARA – Oil prices rose on Tuesday after hopes fell that negotiations between Israel and Hamas would lead to a ceasefire in Gaza amid concerns the lingering conflict could disrupt supplies from the Middle East, a key oil-producing region. International benchmark Brent crude traded at USD90.93… Read More

BMI: PH budget deficit projected to narrow in 2024

BMI: PH budget deficit projected to narrow in 2024

April 9, 2024, 3:07 pm

MANILA – The country's budget deficit is projected to decline this year as revenue collection will likely exceed target, a unit of Fitch Solutions said on Tuesday. In a report released on Tuesday, BMI Research said the Philippine budget deficit will likely narrow to 5.5 percent of gross domestic… Read More

BSP: Banks’ reserve requirement ratio cut still possible

BSP: Banks’ reserve requirement ratio cut still possible

April 9, 2024, 2:09 pm

MANILA – A further cut in banks' reserve requirement ratio (RRR) is still possible, the Bangko Sentral ng Pilipinas (BSP) said. "We want to eventually reduce the reserve requirement, but we're trying to figure out the right timing. We will raise it at the Monetary Board meeting at some point… Read More

Looking for business? Rice retailing offers ROI in 8-10 months

Looking for business? Rice retailing offers ROI in 8-10 months

April 9, 2024, 1:48 pm

MANILA – A local franchisor is urging Filipinos to go into the business of rice retailing as payback could be seen within eight to 10 months. Goldmine Farm to Market president and founder Orlando Manuntag said rice retailing is a viable business in the country that offers early… Read More