Business

PH factories start 2024 on a 'positive note'

PH factories start 2024 on a 'positive note'

February 1, 2024, 12:52 pm

MANILA – The local manufacturing sector kicked off the year on a positive note, the S&P Global Manufacturing Purchasing Managers’ Index (PMI) reported Thursday. The Philippines’ manufacturing PMI has remained above the neutral score of 50 at 50.9 in January this year, easing from a 51.5… Read More

BSP cuts TDF volume

BSP cuts TDF volume

January 31, 2024, 7:40 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) slashed the term deposit facility (TDF) volume on Wednesday as it continued to observe low demand for the facility. BSP Deputy Governor Francisco Dakila Jr. said in a statement that the central bank cut the TDF volume from PHP340 billion to PHP310… Read More

Shares, peso up on Q4 2023 GDP performance

Shares, peso up on Q4 2023 GDP performance

January 31, 2024, 7:35 pm

MANILA – Investors took positively the country’s gross domestic product (GDP) growth in the fourth quarter of 2023 as both shares and peso strengthened on Wednesday. The Philippine Stock Exchange index (PSEi) improved by 24.43 points, closing at 6,646.44, with All Shares also increasing by… Read More

Business name registration in C. Luzon rises in 2023

Business name registration in C. Luzon rises in 2023

January 31, 2024, 6:14 pm

CITY OF MALOLOS, Bulacan – The Department of Trade and Industry (DTI) in Region 3 (Central Luzon) reported a significant increase in business name registrations last year. The total number of Business Names (BN) registered with DTI-3 reached 128,498 in 2023. This is 8.17 percent higher than the… Read More

Microsoft's revenue jumps 18% in Q4 of 2023 with drive in AI

Microsoft's revenue jumps 18% in Q4 of 2023 with drive in AI

January 31, 2024, 6:05 pm

ISTANBUL – US-based global tech major Microsoft saw its revenue jump 18 percent in the final quarter of 2023, according to its financial results statement released Tuesday. The tech giant posted a USD62 billion revenue in the last three months of 2023. Net income was more than USD21.8 billion,… Read More

EU envoy lauds PH’s ease of doing biz efforts

EU envoy lauds PH’s ease of doing biz efforts

January 31, 2024, 4:50 pm

MANILA – European Union (EU) Ambassador to the Philippines Luc Veron said businesses will be more encouraged to invest in the Philippines with the improvement of permitting and licensing processes here. Speaking at the Doing Business in the Philippines 2024 press launch in Makati City Wednesday,… Read More

BSP sees January 2024 inflation between 2.8% to 3.6%

BSP sees January 2024 inflation between 2.8% to 3.6%

January 31, 2024, 4:24 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) projects headline inflation to settle within the government's 2 to 4 percent target in January. In a statement on Wednesday, the BSP said inflation rate this month is projected to settle within the range of 2.8 to 3.6 percent. "Higher prices of some… Read More

US keen to work with PH on mineral processing, renewables

US keen to work with PH on mineral processing, renewables

January 31, 2024, 3:16 pm

MANILA – The United States (US) government has offered its support to the Philippines in developing the country’s mineral processing and renewable energy (RE) sectors. US Under Secretary for Economic Growth, Energy, and the Environment Jose Fernandez said in an interview here Tuesday that the… Read More

PH debt-to-GDP improves in 2023

PH debt-to-GDP improves in 2023

January 31, 2024, 3:01 pm

MANILA – The share of the country's total liabilities to the gross domestic product (GDP) improved last year. "With the 2023 full-year Gross Domestic Product (GDP) growth of 5.6 percent, the debt-to-GDP ratio improved to 60.2 percent from 60.9 percent at the end of 2022," the Bureau of the… Read More

PH economy grows by 5.6% in 2023

PH economy grows by 5.6% in 2023

January 31, 2024, 1:55 pm

MANILA – The Philippine economy grew by 5.6 percent in the fourth quarter of last year, bringing the full-year 2023 growth to 5.6 percent. While the growth did not settle within the government's 6 to 7 percent target and was lower than the 7.6 percent expansion in 2022, National Economic and… Read More

PSA revises upward 3Q PH economic growth to 6%

PSA revises upward 3Q PH economic growth to 6%

January 30, 2024, 9:37 pm

MANILA – The Philippine Statistics Authority (PSA) on Tuesday revised upward the third quarter Philippine economic growth to 6.0 percent from 5.9 percent. In a statement, the PSA said major contributors to the upward revision in the gross domestic product (GDP) growth were manufacturing which… Read More

BTr fully awards re-issued T-bond

BTr fully awards re-issued T-bond

January 30, 2024, 9:32 pm

MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday the re-issued three-year Treasury bonds (T-bonds). The debt paper fetched an average rate of 6.007 percent, broadly in line with the prevailing secondary market rate for the said tenor at 6.011 percent. BTr offered the paper for… Read More

US picks PH as one of partner countries under CHIPS Act

US picks PH as one of partner countries under CHIPS Act

January 30, 2024, 9:04 pm

MANILA – The Philippines is one of the seven countries that the US will be partnering with to diversify its semiconductor supply chain under the CHIPS and Science Act, according to visiting United States Under Secretary for Economic Growth, Energy, and the Environment Jose Fernandez. Fernandez… Read More

Port modernization to spur economic growth in Iloilo, W. Visayas

Port modernization to spur economic growth in Iloilo, W. Visayas

January 30, 2024, 8:33 pm

ILOILO CITY – The local government here is looking at the economic impact of the impending modernization of the Iloilo Commercial Port Complex (ICPC) in Lapuz district. “The improvement of our port facilities will pave the way for more international container ship arrivals. It will also have a… Read More

More demand for WFH jobs than firms offering remote work arrangement

More demand for WFH jobs than firms offering remote work arrangement

January 30, 2024, 7:35 pm

MANILA – Filipino jobseekers still prefer the work-from-home (WFH) arrangement despite many companies returning to normal operations after the coronavirus disease 2019 (Covid-19) lockdown. “Work from home” is the top most searched keyword on Jobstreet by SEEK platform in the Philippines,… Read More

PEZA, BuCor sign agreement for ecozone development

PEZA, BuCor sign agreement for ecozone development

January 30, 2024, 7:00 pm

MANILA – The Philippine Economic Zone Authority (PEZA) and the Bureau of Corrections (BuCor) signed on Tuesday an agreement to establish economic zones on portions of land under BuCor. The Memorandum of Understanding (MOU) signed by PEZA Director General Tereso Panga and BuCor Director General… Read More

PSEi down on profit-taking, peso weakens

PSEi down on profit-taking, peso weakens

January 30, 2024, 6:35 pm

MANILA – The local bourse recorded losses for two consecutive days, while the local currency finished weak on Tuesday. The Philippine Stock Exchange index (PSEi) slipped 8.67 points to 6,622.01 level. All Shares were flat closing at 3,487.71. Sectoral indices were mixed with Mining and Oil,… Read More

Recto meets with US officials to tackle strategic partnerships

Recto meets with US officials to tackle strategic partnerships

January 30, 2024, 5:35 pm

MANILA – Finance Secretary Ralph Recto engaged in a bilateral meeting with United States Department of State Undersecretary for Economic Growth, Energy, and Environment Jose W. Fernandez to discuss areas for strategic partnerships. In a statement late Monday, the Finance department said… Read More

Investors bullish on stock market; PSEi seen to hit 7,100 this year

Investors bullish on stock market; PSEi seen to hit 7,100 this year

January 29, 2024, 7:48 pm

MANILA – More retail investors are bullish on the stock market and are looking to add income-paying investments in the next three to six months as the Philippine Stock Exchange index (PSEi) is expected to hit the 7,100-point level this year, according to an online stockbroker. “Philippine… Read More

BDO raises P63.3B in 2nd ASEAN Sustainability Bond issue

BDO raises P63.3B in 2nd ASEAN Sustainability Bond issue

January 29, 2024, 7:46 pm

MANILA – BDO Unibank, Inc. on Monday said it raised PHP63.3 billion in its second ASEAN Sustainability Bond issue, exceeding the original offer of PHP5 billion by more than 12 times. In a statement, the bank said this is its largest single issuance, surpassing its first ASEAN Sustainability… Read More