Business

PH infra program gets boost from bilateral deals with China

MANILA – The infrastructure program of the administration of President Ferdinand R. Marcos Jr. got a boost following the signing of six bilateral agreements and one project implementation between the Philippines and China on Wednesday.Finance Secretary Benjamin Diokno, who signed the... Read More

PH stocks index sustains rise as peso slips

MANILA – Rising rates and fears for a possible recession in the US were brushed aside in the local bourse of Wednesday, resulting in an uptick of the main index as the peso slipped against the greenback.The Philippine Stock Exchange index (PSEi) rose by 2.01 percent or 132.49 points, to... Read More

TDF registers strong demand, rates up

MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) was strong during the first auction for 2023 amid the continued spike in yield.BSP hiked the offer volume for the seven-day facility to PHP230 billion from PHP200 billion during the last auction for... Read More

BPI told to update BSP on erroneous transactions

MANILA – The Ayala-led Bank of the Philippine Island (BPI) has been tasked to report to the Bangko Sentral ng Plipinas (BSP) updates on the reversal of erroneous transactions experienced by several BPI account holders over the weekend.In a statement on Wednesday, the central bank said it was... Read More

PEZA welcomes inclusion of ecozone development in PDP 2023-2028

MANILA –The Philippine Economic Zone Development Authority (PEZA) has welcomed the inclusion of economic zone development in the Philippine Development Plan (PDP) 2023-2028 as a catalyst for job creation and poverty alleviation.“We in PEZA have lobbied through NEDA (National Economic and... Read More

PH stocks index finishes ‘23 first trading day up, peso sideways

MANILA–The Philippines’ main equities index finished the year’s first trading day up ahead of the release of several major economic reports in the US, and the peso ended sideways against the US dollar.The Philippine Stock Exchange index (PSEi) rose by 0.30 percent, or 19.62 points,... Read More

BTr partially awards 1-year T-bill

MANILA–Bureau of the Treasury (BTr) partially awarded on Tuesday the one-year Treasury bill (T-bill) due to under subscription.It offered all tenors for PHP5 billion but tenders for the 364-day paper only amounted to PHP4.655 billion. The auction committee awarded PHP3.65 billion.Both the... Read More

Dumaguete BOC subport exceeds tax target by P2B

DUMAGUETE CITY – The Bureau of Customs (BOC) Subport of Dumaguete has surpassed its 2022 target revenue collection by more than PHP2 billion, an official said on Tuesday.Gina Fatima Lasola, acting Dumaguete Customs Collector, told the Philippine News Agency that their office’s target for... Read More

30 PH brands to join Germany trade fair

MANILA –Thirty local brands will be joining the Ambiente 2023 trade show in Frankfurt, Germany from February 3 to 7, Department of Trade and Industry’s (DTI) export promotions arm Center for International Trade Expositions and Missions (CITEM) said.In a statement Tuesday, CITEM said the... Read More

PH factories’ performance in Dec. '22 highest in 6 months

MANILA –The country’s manufacturing performance in December 2022 recorded its best score in six months, according to the latest S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI).S&P Global reported Tuesday that the Philippines PMI in December 2022... Read More

Recession to hit 1/3rd of world economy this year, says IMF chief

ANKARA – One-third of the world's economies are expected to go into recession this year, according to the IMF's managing director."Even countries that are not in recession, it would feel like recession for hundreds of millions of people," Kristalina Georgieva told CBS news on Sunday.The year... Read More

Butuan opens one-stop-shop business registration process

BUTUAN CITY – On the second day of the new year, the city government of Butuan formally opened its Business One-Stop-Shop (BOSS), marking the formal start of the renewal of business registrations for this year.The 2023 BOSS, which was established at the Robinsons Place here, is in line with... Read More

PH eyed as one of leading economies in Asia Pacific region

MANILA – Following the domestic economy’s contraction due to the pandemic, the Philippine economy started this year’s first quarter with a bang after sustaining its expansion following the glitch in the third quarter of the previous year.Growth, as measured by gross domestic... Read More

FCDU loans slip at end-September

MANILA –Foreign currency development unit (FCDU) loans in end-September this year slipped by 0.3 percent to USD15.67 billion from USD15.71 billion in end-June 2022, the central bank reported Thursday.“The decrease in FCDU loans may be attributed to: gradual move in easing credit... Read More

PSEi ends flat, peso finishes strong on 2022 last trading

MANILA –The local bourse closed flat while currency finished strong on the last trading day for this year.The Philippine Stock Exchange index (PSEi) closed at 6,566.39 shedding 0.15 points on Thursday.All shares were up by 12.71 points to 3,462.04.“Philippine shares were able to remain... Read More

Residential property prices up in Q3 '22

MANILA –Prices of residential real estate in July to September 2022 period increased by 6.5 percent year-on-year and by 4.6 percent quarter-on-quarter, the Bangko Sentral ng Pilipinas (BSP) reported Thursday.Year-on-year, both residential property prices in the National Capital Region (NCR)... Read More

IPOPHL registers more intellectual property filings

MANILA –The Intellectual Property of the Philippines (IPOPHL) reported on Thursday that it registered more intellectual property (IP) filings for the first nine months of the year.IPOPHL said applications for IP protection from January to September this year increased by 4.4 percent to 36,709... Read More

BSP sees December inflation to settle between 7.8 to 8.6%

MANILA –The Bangko Sentral ng Pilipinas (BSP) is expecting an upward trend in inflation for December.In a statement Thursday, the central bank said the rate of increase in prices of goods and services for this month is projected to settle between 7.8 and 8.6 percent.“Upward price... Read More

C. Luzon’s economy moves toward steady recovery in 2022

CITY OF SAN FERNANDO, Pampanga – The year 2022 saw the economy of Central Luzon steadily moving forward and leaving behind the crippling effect of the Covid-19 pandemic.Amid the domestic and external challenges that the Philippines experienced in the past months, primarily brought by the high... Read More

Chinese firm helps PH’s economic dev’t with 70 built projects

MANILA – Energy China has so far built and operated nearly 70 projects, including power stations, power networks, hydraulic engineering and communications in the Philippines, making active contributions to the country’s economic and social development.In its recently released report... Read More