Business

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

Amazon reclaims title of most valuable brand

ISTANBUL – The US-based e-commerce giant Amazon has reclaimed the title of the most valuable brand, according to a new report.According to the report released by Brand Finance, a leading valuation and strategy consultancy group, Amazon regained the title despite a 15% drop in its brand value... Read More

PH stocks index, peso up anew

MANILA – Optimism on the United States' retail sales as well as domestic output this year lifted sentiments in the local bourse, which also benefited the local currency on Wednesday.The Philippine Stock Exchange index (PSEi) sustained its climbed and rose by 1.15 percent, or 80.82 points, to... Read More

OPEC keeps world oil demand growth unchanged for 2023

ANKARA–The Organization of Petroleum Exporting Countries (OPEC) kept global oil demand growth unchanged for 2023.According to OPEC's most recent monthly oil market report published Tuesday, oil demand will grow by 2.2 million barrels per day (bpd) in 2023 to reach 101.8 million bpd with some... Read More

TDF rates down anew

MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) declined on Wednesday, with demand favoring the shorter tenor facility.Data released by the central bank show that the average rate of the seven-day TDF slipped to 6.2973 percent from 6.3553 percent... Read More

Sustainability reporting in PEZA zones eyed

MANILA – The Philippine Economic Zone Authority (PEZA) will launch sustainability reporting among registered business enterprises (RBEs) in economic zones this year.In a statement Wednesday, PEZA said integrating sustainability reporting in the reporting requirements for the RBEs is part of... Read More

PAL announces system 'slowdown' Jan. 21-22 due to upgrade

MANILA – Flag carrier Philippine Airlines (PAL) on Wednesday announced a "system slowdown" that passengers may experience this weekend due to the airline's scheduled website upgrade.In an advisory, PAL said that from 11 p.m. of Jan. 21 until 7 a.m. of Jan. 22, its website may respond "very... Read More

DTI chief presents PH as investment hub in Asia at WEF

MANILA–Department of Trade and Industry (DTI) Secretary Alfredo Pascual has presented the Philippines as an investment destination in Asia at the World Economic Forum (WEF) Annual Meeting 2023 in Davos, Switzerland.In a statement Tuesday, Pascual said he met with senior executives of companies... Read More

BTr hikes award for 20-year T-bond

MANILA –The Bureau of the Treasury (BTr) upsized on Tuesday the awarded 20-year Treasury bond (T-bond) after its rate declined.It offered the debt paper for PHP35 billion but after bids reached nearly four times, at PHP133.947 billion, the auction committee accepted PHP49 billion.Rate of the... Read More

PH stocks index slips, peso finishes sideways

MANILA – Profit-taking took over the local bourse’s main index on Tuesday resulting in its slip while the peso ended the day sideways against the US dollar.The Philippine Stock Exchange index (PSEi) shed 0.45 percent, or 31.44 points, to 7,014.04 points.All Shares also ended in the red... Read More

AMRO revises PH growth outlook for 2022, 2023

MANILA –The ASEAN+3 Macroeconomic Research Office (AMRO) has revised its economic growth outlook for the Philippines for the full year of 2022 and 2023.In a press conference Tuesday, AMRO chief economist Hoe Ee Khor said the Philippines recorded strong gross domestic product (GDP) growth in... Read More