Landbank doubles daily amount limit of fund transfers

MANILA – State-owned Land Bank of the Philippines (Landbank) hiked the daily aggregate amount limit of fund transfers via InstaPay from PHP50,000 to PHP100,000.In a statement on Sunday, Landbank said the higher fund transfer limit took effect on July 14.The bank said clients can now transfer... Read More

Stakeholders rally support for bamboo bill's Senate passage

RODRIGUEZ, Rizal – The Philippine Bamboo Industry Development Council (PBIDC) has sent a letter to Senate President Juan Miguel Zubiri, asking that more stakeholders be allowed to physically attend hearings on the “Bamboo Bill” as a means of rallying support for its approval.In an... Read More

Last-minute bargain hunting lifts PSEi; peso gains further

MANILA – Last-minute bargain hunters have saved shares from losses as the local bourse ended in the green while the peso continued to strengthen against the greenback on Friday.The benchmark Philippine Stock Exchange index (PSEi) closed this week’s trading with an increase of 46.30... Read More

BSP bills rates down, 28-day posts undersubscription

MANILA – The average rates of the Bangko Sentral ng Pilipinas’ (BSP) bills fell on Friday and the 28-day facility attracted lower bids unlike that of the 56-day tenor.Data released by the central bank showed that the rate of the shorter-dated facility declined to 6.6554 percent from... Read More

Wind, solar dominate indicative power projects until 2028

MANILA – Data from the Department of Energy (DOE) shows that wind and solar energy projects are dominating the indicative power projects from 2023 to 2028, reflecting the impacts of the government measures to shift to clean energy.Of the 21,127 megawatts (MW) of indicative power projects until... Read More

Economic team woos Canadian investors to explore PH market

MANILA – The administration's economic managers have urged Canadian companies to look into opportunities in the Philippines during an investor roadshow in Toronto on July 13.DOF Secretary Benjamin Diokno underscored that the two countries have a wide range of opportunities and cooperation to... Read More

WB: PH gov’t response to Covid-19 saves 1.8M Pinoys from poverty

MANILA –A World Bank (WB) study shows that the emergency assistance of the Philippine government during the height of the coronavirus disease 2019 (Covid-19) pandemic has prevented 1.8 million Filipinos to fall into poverty.World Bank’s report, “Crisis and Recovery: Learning from... Read More

Stocks, peso end strong as US posts 2-yr low inflation

MANILA –The easing of inflation in the United States has fueled optimism in the local stock market as well as the Philippine peso during Thursday’s trading.The Philippine Stock Exchange index (PSEi) ended the day stronger by 111.64 points to 6,578.49 percent, with all shares and all... Read More

DTI: CARS program buoys auto industry

MANILA–The Comprehensive Automotive Resurgence Strategy (CARS) program has helped the domestic automotive industry to survive, especially local parts makers, according to a senior trade official.Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo told reporters early this... Read More

BIR hits end-May '23 collection goal

MANILA –Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. is confident that the agency will hit its 2023 collection goal through intensified enforcement activities.In a statement on Thursday, the agency reported the nearly 10 percent year-on-year rise of its end-May 2023... Read More

UN report: Global public debt increases to $92 trillion

UNITED NATIONS – Global public debt increased to US$92 trillion in 2022, according to a new United Nations (UN) report.Cascading crises in recent years triggered a sharp acceleration of this trend, said the UN Conference on Trade and Development in its report launched on Wednesday.Global... Read More

Gov’t rolls out green lanes for strategic investments

MANILA –The green lanes for strategic investments are now running in national government agencies (NGAs) and local government units (LGUs) where securing of licenses and permits for critical investment projects will be expedited.President Ferdinand R. Marcos Jr. on Thursday led the launching... Read More

Covid-related claims down in second half of 2022

MANILA – The number of coronavirus disease 2019-related insurance claims paid by insurance companies and health maintenance organizations (HMOs) dropped in the second half of 2022 as the number of cases declined.In a statement on Wednesday, the Insurance Commission said results of its survey... Read More

Upscale property developer more bullish on PH market

MANILA – Upscale property developer Alveo Land Corp. is more bullish on the Philippine market, its president Mike Jugo said.In a press briefing in Makati City Wednesday, Jugo said the company’s growth this year hinges on the performance of the real estate industry as well as the... Read More

PH, France eye G2G financing deal for procurement activities

MANILA – One of the outcomes of the recent visit of the Philippine delegation to Europe is a possible financing agreement between the governments of the Philippines and France.In a chat early this week, Board of Investments (BOI) officials shared to trade reporters that the Department of... Read More

PH stocks, peso up ahead of US June inflation report

MANILA – The local bourse’s main index rose on Wednesday ahead of the release of US’ June 2023 inflation report while the peso gained against the US dollar after climbing to 54-level. The Philippine Stock Exchange index (PSEi) ended the day’s trade up by 1.07 percent, or... Read More

Slower inflation rate boosts imports, exports

MANILA – Sustained deceleration of inflation rate, which is seen as a factor for the cuts in central banks’ policy rates, is projected to support the continued improvement of the country’s exports and imports. The Philippine Statistics Authority (PSA) reported the 1.9 percent... Read More

Sound economic policies, better int'l ties mark PBBM's 1st year

MANILA — Further investing in infrastructure, providing relief to agrarian reform beneficiaries, enhancing international economic ties and further reopening the economy are some of the highlights of President Ferdinand Marcos Jr.'s first year in office, economists said."The PBBM administration... Read More

Landbank ensures success of new law writing off agrarian debt

MANILA – State-owned Land Bank of the Philippines (Landbank) on Wednesday vowed to work with government partners for the immediate implementation of a new law that frees agrarian reform beneficiaries (ARBs) from agrarian debts.Republic Act No. 11953, or the New Agrarian Emancipation Act which... Read More

Car sales grow 30.7% in H1

MANILA – Locally assembled automotive vehicles sold a total of 202,415 units in the first six months of the year, growing by 30.7 percent from the same period in 2022. The joint sales report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers... Read More