Business
PSEi tracks Wall Street, peso down ahead of inflation report
December 4, 2018, 6:33 pm
MANILA -- The Philippine Stock Exchange index (PSEi) rose anew Tuesday but the peso weakened against the US dollar ahead of the November 2018 inflation report's release. The main stocks gauge rose 2.27 percent, or 171.02 points, to 7,703.92 points. A trader said the truce in the US and China trade… Read More
10-year T-bond rate falls
December 4, 2018, 5:43 pm
MANILA -- The rate of the Philippines’ re-issued 10-year Treasury bond (T-bond) fell to 6.975 percent Tuesday from 8.035 percent during the auction last November 6. The Bureau of the Treasury (BTr) offered it for PHP15 billion and received bids more than three times over, amounting to PHP49.389… Read More
Coop insurance firm sees record-high growth in 2018
December 4, 2018, 5:42 pm
MANILA -- 1Cooperative Insurance System of the Philippines (1CISP), touted as the country’s largest cooperative insurance firm, projects to end this year with a record-high growth in assets, its president and chief executive officer Roy Miclat said. In a press briefing Tuesday, Miclat said… Read More
Cusi highlights investment opportunities in energy sector
December 4, 2018, 4:51 pm
MANILA -- Department of Energy (DOE) Secretary Alfonso Cusi called on energy sector stakeholders to look for new investment opportunities that will come as a result of increasing power demand in the near future. During the 2018 Energy Investment Forum in Taguig City on Tuesday, Cusi stressed that… Read More
Economy to grow faster in Q4: FMIC-UA&P
December 3, 2018, 9:16 pm
MANILA -- The Philippine economy is expected to expand 6.6 percent in the fourth quarter of 2018, bringing full-year growth to 6.38 percent, buoyed mainly by higher investment spending and a modest rebound in exports. “Infrastructure and capital outlays and capital goods imports remained… Read More
Trading week off to good start
December 3, 2018, 7:37 pm
MANILA -- Reports that the US and China have decided to hold a 90-day truce in their bitter trade war as they attempt to address festering issues more politely boosted both the Philippine peso and the main stocks gauge Monday. The local currency finished the day at 52.32 to a greenback from 52.45… Read More
3, 6-month T-bill rates rise, 1-year declines
December 3, 2018, 7:37 pm
MANILA -- Philippine Treasury bills (T-bills) continued to reflect rising interest rates, which according to National Treasurer Rosalia De Leon, also shows that investors are locking in on rates. Bureau of the Treasury’s (BTr) auction committee fully awarded all three tenors this week,… Read More
PH output rises despite falling exports
December 3, 2018, 5:35 pm
MANILA -- Output of the country’s manufacturing sector managed to hit a near two-year high despite a sharp drop in new export orders in November, the IHS Markit manufacturing purchasing managers’ index (PMI) reported Monday. IHS Markit data show that the Philippines’ PMI in November rose to… Read More
Sun Life Financial eyes PH Q4 GDP at 6.3%
December 3, 2018, 4:56 pm
MANILA -- An official of Sun Life Financial - Philippines forecasts healthy expansion for the domestic economy in the last quarter of 2018 at 6.3 percent and sees even higher growth next year because of government spending and election-related spending. In a briefing Monday, Sun Life Asset… Read More
PHINMA prexy gets global biz award
December 3, 2018, 4:46 pm
MANILA -- PHINMA Corp. President and Chief Executive Officer Ramon del Rosario received the "Business as a Noble Vocation Award" at the UNIAPAC World Congress 2018 in Lisbon, Portugal last Nov. 24. UNIAPAC International launched the Business as a Noble Vacation Award to recognize the dedication of… Read More
PLDT to increase 2019 capex
December 3, 2018, 1:46 pm
MANILA -- Local telecommunications giant PLDT Inc. is set to increase its capital expenditures next year for the deployment of its wireless services and rollout of 5th generation technology (5G) cell sites across the country. The capex for 2019 will be higher than the PHP58 billion this year which… Read More
Oil firms to cut pump prices by at least P2/liter Tuesday
December 3, 2018, 10:12 am
MANILA -- Oil companies are set to implement a fresh price roll back of at least PHP2 per liter this week. In separate messages, oil companies announced to cut prices of diesel by PHP2.10 per liter; gasoline by PHP2 per liter; and kerosene by PHP2 per liter. The oil price rollbacks will be… Read More
D&L Industries building P8-B expansion facility in Batangas
December 3, 2018, 9:56 am
MANILA -- Chemical and food ingredient manufacturer D&L Industries Inc. has started the construction of its PHP8-billion expansion facility in Tanauan, Batangas, a project that will generate 700 new jobs over the next two years until 2020. D&L president Alvin Lao said the expansion project, which… Read More
DOF economist eyes November inflation at 6.3%
December 2, 2018, 5:08 pm
MANILA -- A Department of Finance (DOF) official forecasts November 2018 inflation to decelerate to 6.3 percent from hitting its multi-year high of 6.7 percent last September and October. Finance Undersecretary Gil Beltran attributed his forecast to the decline in the prices of several food items… Read More
Cathay Land invests P1-B in Calabarzon condo projects
December 2, 2018, 11:04 am
MANILA -- Cathay Land is building two condominium projects in its largest township project in south of Metro Manila worth PHP1 billion. Cathay Land president Jeffrey Ng said the company is launching Stanford Suites 3 and Fullerton Suites in its 500-hectare South Forbes Golf City in Cavite-Laguna… Read More
Petron cuts LPG prices anew
November 30, 2018, 6:40 pm
MANILA -- Another big time rollback on prices of liquefied petroleum gas (LPG) will welcome consumers in December. On Friday, Petron Corp. announced that it will cut the prices of Gasul and Fiesta Gas by PHP6.50 per kilogram starting this weekend. “This is equivalent to a rollback of PHP70 per… Read More
Domestic liquidity growth eases in October: BSP
November 30, 2018, 5:12 pm
MANILA -- Preliminary data show that domestic liquidity (M3) grew by 8.2 percent year-on-year to about P11.1 trillion in October 2018, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement on Thursday. This was slower than the 9.8-percent (revised) expansion in the previous month. On a… Read More
'Sulong' fora underscore private sector's role in growth
November 30, 2018, 5:10 pm
DAVAO CITY -- Finance Secretary Carlos Dominguez III said spinning off the annual “Sulong Pilipinas” consultative conference into regional forums across the country underscores the importance given by the Duterte administration to the business sector in its pursuit of high and inclusive… Read More
BSP eyes 5.8-6.6% November inflation
November 29, 2018, 8:00 pm
MANILA -- The abrupt decline in world oil prices and the normalization in supplies of rice and other agricultural goods caused Philippine monetary officials to forecast a November 2018 inflation of between 5.8 percent and 6.6 percent, lower than the 6.7 percent last September and October. In a… Read More
Peso gains ground, local stock retreat
November 29, 2018, 7:41 pm
MANILA -- The Philippine peso ended the shortened week’s trading a little stronger against the US dollar but the Philippine Stock Exchange index (PSEi) declined after economic managers announced their recommendation to go ahead with the oil excise tax hike in 2019. The local currency finished… Read More
