Business
Peso, PSEi dragged down by Turkey's financial woes
August 13, 2018, 8:48 pm
MANILA -- The Philippine peso and the Philippine Stock Exchange index (PSEi) shed Monday as investors troop to safer grounds on jitters generated by the financial crisis in Turkey. The peso ended the week’s first trading day at 53.37 from 53.09 Friday last week. A trader said the US dollar… Read More
Gov't eyeing another ROP issuance before yearend
August 13, 2018, 8:45 pm
MANILA -- The Philippine government is considering the issuance of as much as USD1.5 billion-worth of US dollar-denominated bond possibly before end-2018. National Treasurer Rosalia De Leon on Monday said they have yet to submit documents about the planned issuance to the Monetary Board (MB), but… Read More
Lamudi sees boost in property demand in Cebu
August 13, 2018, 7:00 pm
MANILA -- Lamudi, an online marketplace for properties, has reported strong demand in Cebu with its booming tourism industry and growing business operations. Lamudi Chief Executive Officer and Managing Director Bhavna Suresh said Monday developers are busy developing projects -- condominiums,… Read More
FDI climb proves sustained investor confidence in PH
August 13, 2018, 6:35 pm
MANILA -- The Philippines' robust economy continues to attract investors as evidenced by the growth in foreign direct investments (FDIs) and this trend is likely to continue, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said. In the first five months this year, FDIs grew 49… Read More
PH T-bill rates down after BSP rate hike
August 13, 2018, 6:02 pm
MANILA -- The rate of government-issued Treasury bills (T-bills) fell across the board Monday, which National Treasurer Rosalia De Leon quickly attributed to lesser uncertainties following another hike in central bank's key rates last week. On August 9, 2018, the Bangko Sentral ng Pilipinas’… Read More
PH still enjoys cushions from external shocks: Espenilla
August 13, 2018, 5:27 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said the domestic economy's proven resiliency shelters it from the full brunt of external problems, such as Turkey's ongoing financial crisis. In an interview Monday, the central bank chief said the country’s… Read More
PEZA okays expansion projects of Japanese firms
August 13, 2018, 2:20 pm
MANILA -- The Philippine Economic Zone Authority (PEZA) has registered the expansion projects of two Japanese manufacturing firms in special economic zones in Laguna and Cavite, effectively giving them the go signal. PEZA announced Monday that its director general, Charito Plaza, awarded the… Read More
PH to stage 1st garments, leather goods expo
August 12, 2018, 2:37 pm
MANILA -- The country will be hosting the first Philippine Garment, Leather Goods Industries, and Fabrics Expo on Aug. 23-26 at the SMX Convention Center in Pasay City to showcase the opportunities in this sector in the domestic market. Trade Undersecretary and Board of Investment Managing… Read More
No need for SRP hike moratorium: DTI
August 10, 2018, 8:59 pm
MANILA -- A moratorium on increasing suggested retail prices (SRPs) on basic goods may be unnecessary at this time despite rising inflation, the top trade official said. According to Trade and Industry Secretary Ramon Lopez, rising price pressures are not driven by manufactured goods, but by… Read More
Peso stays firm, local shares down on selling pressures
August 10, 2018, 8:41 pm
MANILA -- The Philippine peso showed its resiliency Friday after ending little changed against the greenback but the Philippine Stock Exchange index (PSEi) succumbed to bearishness. The local unit finished the week’s trading at 53.135 against the US dollar from Thursday’s 53.09. Land Bank of… Read More
Economist says BSP rate hikes favor Peso
August 10, 2018, 7:34 pm
MANILA -- An economist of ING Bank Manila believes the additional hike in Bangko Sentral ng Pilipinas’ (BSP) key rates effective August 10, would help buoy the Peso and address the impact of its weakness on domestic inflation. On Thursday, the BSP’s policy-making Monetary Board (MB) hiked the… Read More
Fitch Solutions sees one more rate hike, cuts GDP growth forecast
August 10, 2018, 6:35 pm
MANILA -- Citing sustained rise of inflation and credit growth, Fitch Solutions forecasts an additional 25 basis points increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates before yearend. In a research note, the Fitch Group unit contends that while the implementation of tax reforms… Read More
PCC gives nod to Grab-Uber deal
August 10, 2018, 6:30 pm
MANILA -- Philippine Competition Commission (PCC) Chairman Arsenio Balisacan announced Friday the antitrust body has given the green light to go ahead with the acquisition deal between transport network companies (TNCs) Grab and Uber. This is after the PCC has finally approved the voluntary… Read More
DTI chief: PH economy ‘still doing good’
August 10, 2018, 6:27 pm
MANILA -- Despite the economy's slowdown as reflected by the modest 6 percent gross domestic product (GDP) growth posted in the second quarter this year, Trade and Industry Secretary Ramon Lopez believes the Philippines is "still doing good." Lopez told reporters that GDP growth in Q2 2018 took a… Read More
PH economy to get back on track after Q2 'breather': DOF
August 10, 2018, 4:20 pm
MANILA -- The Department of Finance (DOF) is still optimistic that the Philippine economy's momentum will get back on track after it “took a breather” in the second quarter of 2018. From April to June this year, the economy registered a 6 percent expansion, as measured by gross domestic… Read More
Landbank eyes lower offer price for PDSHC share holders
August 10, 2018, 3:02 pm
MANILA -- The top management of Land Bank of the Philippines (Landbank) is considering a lower purchase offer to shareholders of Philippine Dealing System Holdings Corp. (PDSHC) after it declared a PHP600 million dividend last June. In an interview, Landbank President Alex Buenaventura said they… Read More
Dominguez wants dialogue to clear ambiguities of federalism
August 10, 2018, 2:59 pm
MANILA -- Finance Secretary Carlos Dominguez III has maintained that the draft federal constitution contains ambiguous provisions on the allocation of expenditures for the would-be federated government and its federated regions, which underscores the urgency of opening more discussions on the… Read More
Peso unmoved, local stocks downed by lackluster GDP
August 9, 2018, 9:42 pm
MANILA -- The lower-than-expected growth of the Philippine economy in the second quarter of 2018, which was at a lackluster six percent, resulted in the negative close of the Philippine Stock Exchange index (PSEi) but the peso managed to stay firm. The peso ended the day at 53.09 from 53.07 a day… Read More
BSP raises inflation projection
August 9, 2018, 9:22 pm
MANILA -- The central bank’s policy-making Monetary Board (MB) on Thursday revised upwards the Bangko Sentral ng Pilipinas’ (BSP) inflation projection for 2018-19 amid rising inflation. In a briefing, BSP Deputy Governor Diwa Guinigundo said this year’s projection was raised to 4.9 percent… Read More
Rice tariffication to temper inflation
August 9, 2018, 9:18 pm
MANILA -- Liberalizing rice trade in the country can significantly temper inflation, the country’s chief economist said. “If the Senate and Congress can pass the bill on rice tariffication, for example tomorrow, that would have already an impact, very noticeable impact on food inflation… Read More
