Business
BSP: Peso not performing poorly
April 17, 2024, 3:01 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the peso's performance lately could not be categorized as poor, adding that the local currency is only adjusting to recent developments in the Middle East and announcements on Federal Reserve's possible delayed interest… Read More
2 firms eye Islamic banking operations in PH
April 17, 2024, 2:30 pm
MANILA – Maybank Philippines and a foreign company plan to establish Islamic banking operations in the country, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday. In a briefing at the BSP Office in Manila, BSP Assistant Governor for Financial Supervision Sub-sector 3 Arifa Ala said Maybank… Read More
Filinvest REIT rides on strong PH tourism sector
April 17, 2024, 2:06 pm
MANILA – Filinvest REIT Corp. (FILRT), a real estate investment trust (REIT) backed by Filinvest Land, Inc., is riding on the Philippines’ strong tourism sector as it aims to diversify its properties from office buildings to hospitality and leisure spaces after it acquired a property in… Read More
PSEi shedding longest in 8 years; peso closes at 57
April 16, 2024, 6:56 pm
MANILA – Investors were concerned about the increasing tension in the Middle East and the upside risks to inflation, bringing the local bourse to its longest losing streak in eight years. Meanwhile, the Philippine peso finished at the 57-level on Tuesday. The Philippine Stock Exchange index… Read More
BTr rejects bids for T-bonds
April 16, 2024, 5:05 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully rejected bids for the re-issued 20-year Treasury bonds (T-bonds). With a remaining term of 14 years and nine months, the average rate for the re-issued T-bonds reached 6.987 percent had it been awarded. The comparable 15-year PHP… Read More
DOE on red, yellow alerts: Extreme heat affected power plant ops
April 16, 2024, 5:02 pm
MANILA – The Department of Energy (DOE) said the “extremely high temperatures” this day affected the operations of power plants, with 31 power generation facilities going down as of Tuesday, prompting red and yellow alerts in the Luzon grid and a yellow alert in the Visayas grid. In a… Read More
Gold bar auction to resume after 11 years of suspension
April 16, 2024, 3:17 pm
HÀ NỘI – The State Bank of Việt Nam will resume gold bar auctions in an effort to improve supply to the market after 11 years of suspension. A representative of the SBV said on Monday that preparations for gold bar auctioning are being completed. The SBV will send notice about detailed… Read More
Beauty, personal care forms huge market for cross-border traders
April 16, 2024, 3:00 pm
HCM CITY – Cross-border beauty and personal care is a huge market for Vietnamese companies thanks to the growing realization of gender equality in which more women are immersing themselves in the workforce globally. Currently, with a growing awareness of gender equality, economic pressure, and… Read More
Rotating brownouts possible in NCR, nearby provinces on April 16
April 16, 2024, 2:51 pm
MANILA – Rotational brownouts could be expected in some areas in Metro Manila and nearby provinces following the issuance of red and yellow alert status in the Luzon grid Monday, the Manila Electric Company (Meralco) said. “Following NGCP's (National Grid Corporation of the Philippines)… Read More
BPI services temporarily unavailable
April 16, 2024, 2:02 pm Updated on April 16, 2024, 5:03 pm
MANILA – Bank of the Philippine Islands (BPI) said some of its services were temporarily unavailable on Tuesday. In a Facebook post, the bank said automated teller machine withdrawals, cash accept machine deposits, debit card purchases, BPI app, BPI online, and use of BPI online credentials for… Read More
Luzon grid on red, yellow alerts on Tuesday
April 16, 2024, 11:23 am Updated on April 16, 2024, 5:01 pm
MANILA – The National Grid Corp. of the Philippines (NGCP) declared red and yellow alerts in the Luzon grid on Tuesday after 19 power plants went on forced outage. The NGCP said there would be a red alert over the Luzon grid from 2 p.m. to 4 p.m., and 6 p.m. to 9 p.m. Rotational brownouts are… Read More
February OF remittances up 3% to $2.95-B
April 15, 2024, 7:50 pm
MANILA – Overseas Filipinos’ (OFs) personal remittances in February 2024 grew 3 percent year-on-year to USD2.95 billion from USD2.86 billion, the Bangko Sentral ng Pilipinas (BSP) said Monday. “The increase in personal remittances in February 2024 was due to remittances from land-based… Read More
Geopolitical tension pulls down index, peso
April 15, 2024, 6:43 pm
MANILA – Philippine shares sustained its shedding on Monday, with the index falling below the 6,600 level, even as the peso depreciated by 0.28 amid the geopolitical tensions in the Middle East. The Philippine Stock Exchange index (PSEi) closed 1.46 percent lower, or down by 96.96 points, to… Read More
BTr fully awards T-bills at higher rates
April 15, 2024, 6:22 pm
MANILA – The Bureau of the Treasury (BTr) raised PHP15 billion in Monday’s auction after awarding the Treasury bills (T-bills) in full. The Auction Committee fully awarded the 91-, 182-, and 364-day T-bills after the debt papers were 2.7 times oversubscribed, with total tenders amounting to… Read More
Oil firms to raise prices anew on Tuesday
April 15, 2024, 3:36 pm
MANILA – After a hefty price hike last week, oil companies will implement price increases anew on April 16 (Tuesday). In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they would raise gasoline prices by PHP0.40 per liter and diesel prices by PHP0.95 per liter.… Read More
Monetary Board OKs lower govt’s foreign loan for Q1 ’24
April 15, 2024, 3:34 pm
MANILA – The central bank’s Monetary Board has approved lower government borrowings from foreign sources from January to March this year. In a statement Monday, Bangko Sentral ng Pilipinas (BSP) said its Monetary Board has green lighted a total of USD2.87 billion foreign borrowings in the… Read More
S. Korea to extend fuel tax cut through June amid Middle East tensions
April 15, 2024, 2:53 pm
SEOUL – The government will extend the tax cut on fuel consumption by an additional two months amid growing tensions in the Middle East, Finance Minister Choi Sang-mok said Monday. South Korea has applied a 25 percent discount on the consumption of gasoline and a 37 percent discount on the… Read More
US-based BPO firm expands in PH; inaugurates Laguna site
April 14, 2024, 11:55 am
MANILA – United States-based business process outsourcing (BPO) firm Afni formally launched its new Philippine site in the city of Santa Rosa, Laguna province on Saturday, expanding its presence outside Metro Manila. The new Afni office, located right next to SM City Santa Rosa, commenced hiring… Read More
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
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
