British Chamber lauds PBBM for sustaining economic reforms

MANILA – British Chamber of Commerce in the Philippines (BCCP) executive director Chris Nelson on Wednesday praised the Marcos administration for being able to sustain the economic reforms of the previous leadership.In an interview with ABS-CBN News Channel, Nelson said businesses from the... Read More

PH, Australia partner for technical cooperation for PPP

MANILA – As the Marcos administration becomes bullish in utilizing a public-private partnership (PPP) model in infrastructure projects, the Australian government will be providing its technical expertise in rolling out infrastructure projects under the PPP.Australian Ambassador to the... Read More

PH stocks index, peso gain on Credit Suisse dev’t

MANILA – The local stock barometer rebounded on Tuesday as investors took a breather following the Swiss-government engineered take-over by UBS of Credit Suisse, a development which also benefited the local currency. After starting the week on the negative territory, the Philippine Stock... Read More

BTr fully awards 20-year T-bond

MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday the 20-year Treasury bond (T-bond) despite the rate uptick due to high demand.It offered the debt paper for PHP25 billion and tenders reached PHP34.412 billion.The average rate of the T-bond rose to 6.631 percent from 6.525... Read More

Economist sees improvement in BOP position amid deficit

MANILA – An economist is optimistic about improvement in the country’s balance of payment (BOP) position, citing strong structural inflows like remittances and revenues of the business process outsourcing (BPO) sector.In a report Tuesday, Rizal Commercial Banking Corporation (RCBC) chief... Read More

German firms explore energy efficiency opportunities in PH

MANILA – A German business delegation is now exploring opportunities in the Philippines in energy efficiency business.The five German companies involved in energy efficiency technology and solutions include SolarNext AG, MIG mbH, Hörmann KG, eeaser GmbH and Ecoligo GmbH.“These... Read More

Top exporters urge resolution on VAT zero-rating

MANILA – The country’s major exporting industries -- semiconductors and electronics, information technology and business process management (ITBPM) and garments and wearables -- appealed to the government Tuesday to immediately issue the resolution on value-added tax (VAT) zero-rating... Read More

DTI sets up 111 OTOP stores to boost MSMEs

MANILA – The Department of Trade and Industry (DTI) said it has opened a total of 111 One Town, One Product (OTOP) stores nationwide as of Tuesday.The DTI told reporters in a message that 22 of these stores were established from January 2022 to February this year.“These were established... Read More

US insurer extends bidding process for SVB entities

ISTANBUL – United States insurer Federal Deposit Insurance Corporation (FDIC) announced Monday it has extended the bidding process for the troubled Silicon Valley Bank's (SVB) entities.The extended bidding process includes Silicon Valley Bridge Bank, which was established to temporarily take... Read More

Partial award for T-bills after rates rise

MANILA – The Bureau of the Treasury (BTr) partially awarded on Monday Treasury bills (T-bills) across-the-board due to rate upticks. It offered each tenor for PHP5 billion but only awarded PHP2.531 billion worth of 91-day paper, PHP3.7 billion for the 182-day T-bill and PHP4.405 billion for... Read More

PSEi slips, peso almost flat on concerns over US banking sector

MANILA – The local stock barometer declined in this week’s first trading day as collapse of two United States banks and concerns on the world’s largest economy’s banking sector continued, but the peso managed to finish the day sideways against the greenback. The Philippine... Read More

BSP: PH banks way stronger than US counterparts

MANILA – The Bangko Sentral ng Pilipinas (BSP) on Monday said domestic banks remain strong amidst the increased challenges brought by the collapse of two United States-based banks, citing their lower market risk exposure and diversified lending base. In its Notes for the President regarding... Read More

BSP seen to raise rates by 25 basis points

MANILA – The Bangko Sentral ng PIlipinas (BSP) is expected to raise its key rates by 25 basis points this week as domestic inflation remains elevated and both the supply and demand side risks still high. In its economic preview for the week covering March 20-24, Moody’s Analytics said... Read More

New check format implementation deferred to May 2024

MANILA – The implementation of the issuance of a new check format and specifications has been postponed to May 1, 2024 instead of May 2, 2023.In its operating memorandum (OM) issued on Jan. 25, the Philippine Clearing House Corporation (PCHC) said the change in the implementation date was... Read More

Public Service Act IRR takes effect April 4

MANILA – The implementing rules and regulations (IRR) of Republic Act No. 11659 or the Amendments to the Public Service Act (PSA) will take effect this April 4 following the approval of an inter-agency group, including the National Economic and Development Authority (NEDA).The NEDA on Monday... Read More

Another big-time oil price rollback set March 21

MANILA – Oil companies have announced another price rollback effective Tuesday.In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil and Shell said they will slash gasoline prices by PHP1.20 per liter and PHP1.85 per liter for diesel.Caltex, Seaoil and Shell will also... Read More

DOE eyes 11,160 MW green energy auction by 2026

MANILA – The Department of Energy (DOE) is eyeing 11,160 megawatts (MW) of renewable energy (RE) under the Green Energy Auction Program (GEAP) from 2024 to 2026, Undersecretary Rowena Cristina Guevara said Monday.During the opening of the Philippine electric power industry forum organized by... Read More

Marcos admin focuses on infra for economic growth

MANILA – Finance Secretary Benjamin Diokno shared with the American Chamber of Commerce of the Philippines (AmCham) the Marcos Jr. administration’s infrastructure development agenda through the National Economic and Development Authority (NEDA) Board’s recent approved list of... Read More

PH financial sector unscathed by US banking crisis: analysts

MANILA – Private sector economists and markets analysts on Friday agreed that the Philippine financial sector has been relatively unscathed by the series of bank collapses in the United States, which has sent ripples across bourses worldwide.The reactions came after three American banks with... Read More

PH stocks index, peso end week with gains amid volatile trading

MANILA –The local bourse’s main index rebounded on Friday after investors noted efforts to address the collapse of two US-based financial institution and the financial issues of Credit Suisse and this also benefited the peso.After a negative close on Thursday, the Philippine Stock... Read More