Business
T-bills fetch higher rates for 3 straight auctions
October 9, 2023, 9:17 pm
MANILA – All tenors of Treasury bills (T-bills) on Monday fetched higher yields for three straight auctions. The PHP15-billion T-bills offering was oversubscribed at PHP22.6 billion, the Bureau of the Treasury (BTr) said. Despite the higher tenders, the auction committee only awarded PHP12.5… Read More
Aussie firms offer to build 40-MW thorium reactor in PH
October 9, 2023, 8:53 pm
MANILA – Australia-based Southern Infrastructure Pty. Ltd. and Kaizen ANZ Pty. Ltd. want to invest in a 40-megawatt (MW) thorium reactor in the Philippines, the Department of Trade and Industry (DTI) said. DTI Secretary Alfredo Pascual met with representatives of the two firms in Adelaide on… Read More
PH markets shrug off Israel crisis, for now – analysts
October 9, 2023, 8:43 pm
MANILA – The sudden outbreak of hostilities between the state of Israel and Hamas militants does not pose an immediate economic threat to the Philippines, but financial market analysts warned that a protracted conflict will eventually affect oil prices, bilateral trade and overseas Filipino… Read More
Stocks, peso slip on Middle East armed conflict
October 9, 2023, 8:29 pm
MANILA – The local bourse’s main index ended Monday in the negative territory while the peso shed against the United States dollar as investors stayed on the sidelines given the ongoing armed conflict between Israel and the Palestinian Sunni-Islamic militant Hamas. The Philippine Stock… Read More
Big-time oil price rollback set Oct. 10
October 9, 2023, 6:52 pm
MANILA – Oil companies will implement big-time rollbacks in the pump prices of petroleum products starting 12:01 a.m. Tuesday. In separate announcements, Caltex, Cleanfuel, Flying V, Jetti, Petro Gazz, Petron, Phoenix Petroleum, PTT, Seaoil, Shell and Unioil said they will slash gasoline prices… Read More
New Clark City eyes 50% lower carbon emission
October 9, 2023, 3:13 pm
MANILA – The Bases Conversion and Development Authority (BCDA) is eyeing lower carbon emissions in New Clark City in Tarlac by implementing district cooling technology in partnership with Qatar- and Japan-based companies. In a statement Monday, BCDA said it has signed a memorandum of… Read More
Gov't raises $1.26B from retail dollar bonds 2
October 9, 2023, 12:05 am
MANILA – The Philippine government has raised USD1.26 billion from the issuance of the second tranche of the Retail Dollar Bond (RDB 2). Launched on Sept. 27 and offered until Oct. 6, the RDB 2 has a tenor of 5.5 years and a gross interest rate of 5.750 percent per annum, payable every quarter… Read More
Finance execs see higher economic growth by 2H 2023
October 9, 2023, 12:00 am
MANILA – The Philippine economy’s growth will be faster in the second half of the year, according to the projections of Department of Finance (DOF) Secretary Benjamin Diokno. The Philippine economy grew by 4.2 percent in the second quarter of the year, bringing the year-to-date growth at 5.3… Read More
Australian ‘deal teams’ to bring investments to Southeast Asia
October 7, 2023, 2:23 pm
MANILA – The Australian government's plan to establish investment deal teams in Southeast Asia is a "revolutionary" move. Senior Trade and Investment Commissioner Christopher Lim of the Australian Embassy in Manila said their government generally encourages overseas companies to invest in… Read More
Equities up as investors shrug off inflation data, peso on sideways
October 6, 2023, 8:10 pm
MANILA – Investors were optimistic on this week’s closing, brushing aside the higher inflation for September, while the Philippine peso closed sideways. The Philippine Stock Exchange index (PSEi) ended the day gaining 81.35 points but still failed to reach the 6,300-mark, as it closed at… Read More
Alternergy reallocates IPO proceeds to wind farms
October 6, 2023, 7:47 pm
MANILA – Listed renewable energy firm Alternergy Holdings Corp. reallocated PHP143 million from its initial public offering (IPO) proceeds to two wind projects to ensure their timely start. Based on a document shared by Alternergy on Friday, its Tanay Wind Project is getting an additional… Read More
Balisacan: Further rate hike to hurt economy
October 6, 2023, 7:43 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said further raising interest rates will hurt the Philippine economy. "If I were in the Monetary Board, I would say no [to policy rate hike]. Because we have been the most aggressive in our region in raising… Read More
Plant-based meat substitutes seen to boost food security
October 6, 2023, 6:20 pm
MANILA – The Marcos administration may want to consider cultivating the plant-based meat substitute industry as part of its broader food security strategy, according to an agricultural economist in the academe. In an interview on Friday, Roberto Galang, dean at Ateneo de Manila’s John… Read More
PSA: Manufacturing growth accelerates in August
October 6, 2023, 2:58 pm
MANILA -- Growth of the country's manufacturing sector accelerated in August, the Philippine Statistics Authority (PSA) reported on Friday. Results of the Monthly Integrated Survey of Industries (MISSI) showed that the value of production index (VaPI) for manufacturing grew by 9.1 percent in… Read More
Unemployed Filipinos down anew in August
October 6, 2023, 12:44 pm
MANILA – The number of unemployed Filipinos fell to 2.21 million in August this year from 2.68 million in the same month in 2022 and 2.27 million in July this year, National Statistician Dennis Mapa said. In a briefing on Friday, Mapa said preliminary results of the Philippine Statistics… Read More
PH seafarers can fill 9.8K workforce demand in offshore wind projects
October 6, 2023, 12:00 pm
MANILA – With the growing interest in building offshore wind farms in the country, an industry expert said Filipino seafarers could fill the demand for skilled workers in these projects as they are the "natural fit" for the job. Filipino seafarers could explore opportunities in the upcoming… Read More
Poultry growers bat for infra investments to raise production
October 6, 2023, 10:37 am
MANILA – Local poultry growers welcomed the Marcos administration’s vision to significantly raise meat production within the next five years, but also urged the government to immediately invest in agriculture infrastructure to support the targeted production expansion. This came after the… Read More
Economist unfazed by Sept. inflation tick, calls for remedies
October 5, 2023, 8:12 pm
MANILA – An economist in the academe said the country’s 6.1 percent inflation figure in September should not elicit overreaction but rather should serve as an impetus for policymakers to search for ways to counter inflationary forces. In an interview, Carlos Manapat, chairman of the economics… Read More
Market down on higher inflation data; peso moves sideways Thursday
October 5, 2023, 5:36 pm
MANILA – The stock market ended the day in negative territory after the release of the September headline inflation data, while the peso moved sideways on Thursday. The Philippine Stock Exchange (PSEi) lost 119.60 points to close at 6,178.60, while the broader All Shares also dropped 49.81… Read More
BSP: Within-target inflation by end-23 still possible despite upticks
October 5, 2023, 5:04 pm
MANILA – Monetary authorities remain optimistic of within-target inflation rate by the end of 2023 despite the second consecutive month of uptick in the rate of price increases last September due to higher food and oil prices. The Philippine Statistics Authority (PSA) on Thursday reported that… Read More
