Business
Shares decline after release of inflation data, peso ends sideways
March 5, 2024, 6:34 pm
MANILA – Local shares declined on Tuesday following the inflation report for February 2024, while the peso closed sideways. The Philippine Stock Exchange index (PSEi) ended the day down by 0.67 percent at 6,905.46, with All Shares also declining by 0.41 percent to 3,604.27 level. Philstocks… Read More
BTr fully awards reissued Treasury bonds
March 5, 2024, 5:59 pm
MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued seven-year Treasury bonds (T-bonds) during Tuesday's auction. With a remaining term of six years and 10 months, the reissued bond fetched an average rate of 6.27 percent. "The 7-year Treasury bond average auction yield at 6.27%… Read More
Decathlon sees PH as emerging market
March 5, 2024, 3:55 pm
MANILA – Global sports brand Decathlon has seen the Philippines as an emerging market for sports wearable and equipment. France-based Decathlon is expanding in the Philippines with the opening of its newest store in Cebu last March 1. This is the retail sports brand’s first store opening in… Read More
Inflation settles at 3.4% in February
March 5, 2024, 11:39 am Updated on March 5, 2024, 7:25 pm
MANILA – The government is intensifying its efforts to mitigate the effects of the El Niño phenomenon and help keep the inflation rate within target. The National Economic and Development Authority (NEDA) made the statement on Tuesday after the Philippine Statistics Authority (PSA) reported… Read More
PSEi gains ahead of inflation report, peso ends sideways
March 4, 2024, 8:07 pm
MANILA – The local bourse improved on Monday, a day before the government will report the February 2024 inflation rate, while the peso ended the day sideways against the US dollar. The benchmark Philippine Stock Exchange index (PSEi) closed Monday up by 0.46 percent, or 32.08 points, to… Read More
Transmission upgrade to stabilize power situation in Panay grid
March 4, 2024, 8:01 pm
MANILA – The Department of Energy (DOE) on Monday assured that the power situation in Western Visayas will become more stable with the completion of the Cebu-Negros-Panay (CNP) line upgrade. A partial blackout of the Panay sub-grid occurred on Friday due to the shutdown of the three coal-fired… Read More
Leading power firms heed call to invest in clean energy
March 4, 2024, 6:55 pm
MANILA – Magnates Sabin Aboitiz, Ramon Ang, and Manuel Pangilinan sealed a USD 3.3-billion energy deal that will augment the country’s power supply with over 2,500 megawatts (MW) of generation capacity. In a disclosure to the Philippine Stock Exchange Monday, Aboitiz Power Corp., Meralco… Read More
Pump price adjustments set Mar. 5
March 4, 2024, 6:49 pm
MANILA – Oil firms will adjust fuel prices starting 12:01 a.m. on March 5. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, Shell, and Petron said they will increase gasoline prices by PHP0.50 per liter but will be slashing diesel prices by PHP0.40 per liter. Caltex, Seaoil,… Read More
BIR-Ilocos Norte hits 2023 collection target
March 4, 2024, 6:01 pm
LAOAG CITY – The Bureau of Internal Revenue (BIR) in Ilocos Norte has reached its PHP3.2 billion collection target for 2023 due partly to compliance among taxpayers. In a media interview on Monday, Revenue district officer Aldrin Camba said he is thankful for the taxpayers for making the Ilocos… Read More
BIR wins 'ghost receipts' case vs. Buildforce Trading Inc.
March 4, 2024, 6:00 pm
MANILA – Bureau of Internal Revenue Commissioner Romeo Lumagui Jr. said the BIR won the criminal case against the corporate officers and accountant of Buildforce Trading Inc. "Just this February 2024, we won criminal cases before the DOJ against the ghost receipts syndicate. The first day of… Read More
BTr fully awards Treasury bills
March 4, 2024, 3:29 pm
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills). The 91-, 182-, and 364-day T-bills fetched average rates of 5.778 percent, 5.995 percent and 6.100 percent, respectively. Last week, the average auction yield of the 91-, 182-, and 364-day… Read More
MIC eyes membership in global network of sovereign wealth funds
March 1, 2024, 6:57 pm
MANILA – The Maharlika Investment Corp. (MIC) is set to apply for Associate Membership in the International Forum of Sovereign Wealth Funds (IFSWF) to strengthen transparency and good governance. In a statement on Friday, the Department of Finance (DOF) said the proposal to apply to the IFSWF… Read More
Stocks slip on profit-taking, peso ends sideways
March 1, 2024, 6:50 pm
MANILA – The Philippine Stock Exchange index (PSEi) on Friday closed in the negative territory on profit-taking after it traded above 7,000-level, while the peso ended sideways against the greenback. “The local bourse dropped 25.12 points (0.36 percent) to 6,919.59 as investors took some gains… Read More
SMC opens NAIAx Tramo access ramp to improve traffic headed to airport
March 1, 2024, 6:19 pm
MANILA – San Miguel Corporation’s (SMC) infrastructure arm officially opened the new access ramp of the NAIA Expressway (NAIAx) at Tramo in Pasay City which is expected to ease traffic in the area and provide seamless access to the country’s main international gateway and other areas.… Read More
DOF leads G-24 technical meetings to tackle global challenges
March 1, 2024, 4:10 pm
MANILA – The Department of Finance (DOF), which currently sits as chair of the Intergovernmental Group of Twenty-Four (G-24) Board of Governors, recently led the G-24 Technical Group Meetings (TGMs). In a statement on Friday, the DOF said the technical meetings on Feb. 21 and 22, 2024 in Manila… Read More
PH manufacturing PMI continues to rise in February 2024
March 1, 2024, 2:32 pm
MANILA – The Philippines manufacturing purchasing managers index (PMI) for February 2024 continued to post improvement, the S&P Global reported Friday. S&P Global said the country's manufacturing score in February was at 51, better than January 2024's index of 50.9. The country's manufacturing… Read More
LPG prices sustain price hike in March
March 1, 2024, 1:51 pm
MANILA – Companies announced that prices of liquefied petroleum gas (LPG) continued to increase for three consecutive months of the year. In separate advisories, Petron Corporation said its LPG price increased by PHP0.30 per kilogram effective March 1. "This reflects the international contract… Read More
Hot money outflows hit $76 million in January
March 1, 2024, 1:16 pm
MANILA – Foreign portfolio investments or hot money registered with the Bangko Sentral ng Pilipinas (BSP) through authorized banks recorded net outflows of USD76 million in January this year. Data released by the BSP late Thursday showed that this resulted from the USD1.3-billion gross outflows… Read More
PXP remains on the lookout for energy exploration in PH
February 29, 2024, 11:01 pm
MANILA – Listed upstream oil and gas company PXP Energy Corp. remains interested in exploration activities for new sources of energy in the country. “PXP will assess and study other projects in the Philippines,” it disclosed to the Philippine Stocks Exchange on Thursday. It said the company… Read More
37% of consumers see PH going cashless by 2030
February 29, 2024, 9:07 pm
MANILA – One in three consumers, or 37 percent of the surveyed respondents, believes that the majority of Filipinos could be using cashless payment by 2030 as consumers become more comfortable in using mobile wallets and cards. The Annual Visa Consumer Payment Attitudes Study reported on… Read More
