Business

PH on its way towards inflation target path: Medalla

MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla on Monday told foreign investors the Philippines’ inflation rate is on its way back within target in the second half of 2023.During the Philippine economic briefing held in Frankfurt, Germany that was streamed live... Read More

Diokno: PH economy resilient to face post-pandemic world

MANILA – Finance Secretary Benjamin Diokno on Monday told foreign investors and business leaders that the Philippine economy is resilient enough and that the government is doing its best to address post-pandemic challenges.Diokno made the remarks during the Philippine economic briefing... Read More

Commodity prices seen to ease by mid-2023

MANILA –Go Negosyo founder Joey Concepcion, also Private Sector Advisory Council (PSAC) jobs group lead, said commodity prices are seen to ease by middle of this year and inflation rate will slow down towards the end of 2023.During the Laging Handa public briefing Monday, Concepcion said... Read More

PH stocks index up, peso ends flat vs. US dollar

MANILA – The local bourse managed to end higher in the week’s first trading day amidst the suspension of trading in Asia due to the Chinese New Year, while the peso kept its footing against the US dollar.The Philippine Stock Exchange index (PSEi) rose by 0.19 percent, or 13.06 points, to... Read More

Oil prices retreat on US recession fears, slow growth in China

ANKARA–Oil prices slightly dropped on Monday underpinned by tentative economic growth in China and potential recession in the US.International benchmark Brent crude traded at USD87.51 per barrel at 9.54 a.m. local time (0654GMT), down 0.14 percent from the closing price of USD87.63 a barrel in... Read More

CCAP backs hike in credit cards' monthly interest rate cap

MANILA – The Credit Card Association of the Philippines (CCAP) on Monday said the latest decision of the Bangko Sentral ng Pilipinas (BSP) to hike the maximum finance charge on cardholder’s unpaid outstanding balance from 2 percent to 3 percent is a win-win situation for the industry and... Read More

Upskilling necessary to avoid job shedding from automation: DTI

MANILA – Trade and Industry Secretary Alfredo Pascual on Monday reminded business executives to continue reskilling and upskilling their workforce to avoid job shedding as businesses adopt technology and embrace automation.During the inaugural meeting of the Finance Executives Institute of the... Read More

Oil prices up for second straight week

MANILA – Motorists would have to brace for another week of higher pump prices, with the latest increment exceeding PHP2 per liter.Effective Tuesday, Caltex, Cleanfuel, Seaoil, and Shell will hike gasoline prices by PHP2.80 per liter and diesel by PHP2.25 per liter.Caltex, Seaoil, and Shell... Read More

Chinese e-vehicle firm investing P25-B in PH

MANILA – A Chinese electric vehicle company is registering with the Fiscal Incentives Review Board for three projects worth PHP25 billion, Trade Undersecretary Ceferino Rodolfo said Saturday.Rodolfo declined to name the firm but said the projects of the Chinese company will involve leasing of... Read More

IPAs vow to realize investment pledges from PBBM trips

MANILA – The Board of Investments (BOI) and Philippine Economic Zone Authority (PEZA) vowed to follow through on the investment pledges that President Ferdinand R. Marcos Jr. bagged from his recent foreign trips.At the Saturday News Forum at Dapo Restaurant in Quezon City, PEZA deputy director... Read More

PH stocks index, peso finish week sideways

MANILA –Both the local bourse’s main index and the peso ended the week sideways as their US counterparts weaken on signs of recession, among others, in the world’s largest economy.The Philippine Stock Exchange index (PSEi) shed 0.08 percent, or 5.39 points, to 7,056.62 points.All... Read More

BSP 28-day securities’ rate declines anew

MANILA –Rate of the Bangko Sentral ng Pilpinas’ (BSP) 28-day bills slipped anew on Friday amidst strong demand for the debt paper on the back of the high liquidity environment in the country.Data released by the central bank on Friday showed that average rate of the debt paper slipped to... Read More

PH ranks 5th in BPO inquiries: outsourcing report

MANILA – The Philippines received one of the highest numbers of inquiries on outsourcing, according to the 2022 Outsourcing Performance Report of Outsource Accelerator (OA), a marketplace for the business process outsourcing (BPO) industry.The country ranked fifth with the most number of... Read More

Netflix’s revenue rises in 4Q 2022, membership up 4% annually

ISTANBUL – Netflix saw its revenue and membership increase in the fourth quarter of last year, according to financial figures released Thursday.The online streaming platform saw its revenue rise to $7.85 billion in the October-December period, up 1.8% from $7.71 billion in the same period of... Read More

Economist eyes further improvement in PH balance of payments

MANILA –The Philippines’ balance of payment (BOP) position reversed to a surplus in December 2022 to USD612 million and an economist forecasts further improvement in the coming months as structural US dollar inflows continue to increase.Data released by the Bangko Sentral ng Pilipinas... Read More

PH stocks index, peso post correction

MANILA –The local bourse’s main index posted a correction on Thursday, partly on profit-taking, while the peso ended the day sideways, backed partly by expectations for lower hikes in the Federal Reserve's key rates.The Philippine Stock Exchange index (PSEi) shed 0.46 percent, or 32.85... Read More

PBBM has accomplished a lot in Davos: economic managers

MANILA –Economic managers said President Ferdinand R. Marcos Jr. has done a lot to explain to top leaders and businessmen attending the World Economic Forum (WEF) in Davos, Switzerland the Philippines’ success stories amid the pandemicQuoting Finance Secretary Benjamin Diokno during a... Read More

Investment leads in PBBM foreign trips to benefit PH beyond 2028

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the investment pledges that President Ferdinand R. Marcos Jr. were able to secure during his foreign trips would benefit Filipinos even beyond his term.These investment pledges, when realized, will... Read More

RE-powered e-vehicle charging hubs eyed

MANILA – The Department of Energy (DOE) has forged a tripartite memorandum of agreement (MOA) with Pilipinas Shell Petroleum Corp. (PSPC) and Shell Energy Philippines, Inc. (SEPH) Thursday to conduct a pilot study on the use of renewable energy like solar power in electric vehicle charging... Read More

PH to gain from biz, cooperation opportunities from WEF meeting

MANILA – The attendance of the Philippine delegation to the World Economic Forum (WEF) annual meeting in Davos, Switzerland will likely attract foreign direct investments (FDIs) and portfolio investments to the country, an economist said Wednesday.Aside from business-related opportunities,... Read More