Business

Risk-on sentiments lift PH equities index, peso

MANILA – Positive earnings reports of some large United States-based firms boosted investors’ appetite in the local bourse on Wednesday, benefiting the peso as well.The Philippine Stock Exchange index (PSEi) rose by 0.97 percent, or 62.68 points, to 6,520.80 points.All Shares followed... Read More

TDF yields track uptrend in central bank's policy rates

MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) remained strong although yields again rose on Wednesday.The average rate of the seven-day facility rose to 6.2466 percent from 6.1395 percent during the auction last Dec. 14.The average rate of the... Read More

Oil prices rise on estimated fall in US crude stocks

ANKARA–Oil prices rose on Wednesday due to an uptick in demand after statistics revealed that US crude stockpiles fell more than anticipated.International benchmark Brent crude traded at USD80.32 per barrel as of 09.46 a.m. local time (0646GMT), up 0.41 percent from the closing price of... Read More

SEC to shift payments online, off-site next year

MANILA – The Securities and Exchange Commission (SEC) is moving its payment channels online and off-site by Feb. 1, 2023 as it continues to implement a zero face-to-face transaction policy.In a notice, the commission announced that all payments will be accepted only through the Electronic... Read More

Oil up over US strategic petroleum reserve plan, weaker dollar

ANKARA – Oil prices rose Tuesday over bullish demand outlook following a United States decision to kick off replenishment of its emergency stockpiles and over the falling value of the US dollar, which makes dollar-indexed oil cheaper to buyers.International benchmark Brent crude traded at... Read More

PSEi up on bargain-hunting, peso strengthens

MANILA – Recession concerns in the United States resulted in bargain hunting in the local bourse on Tuesday that boosted the main index which also benefited the peso. After a slide in recent days, the Philippine Stock Exchange index (PSEi) rose by 0.68 percent, or 43.85 points, to 6,458.12... Read More

Cebu City bullish of dev't via tax reform measure

CEBU CITY – The city government here is confident of achieving further development similar to that of Singapore through its long-term investment programs and effort to overhaul the 20-year-old real property tax ordinance, an official said on Tuesday.Vice Mayor Raymond Alvin Garcia said the... Read More

Medalla discounts extreme rate hikes in Q1 2023

MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla on Tuesday said hikes in the central bank’s key policy rates are still possible given that inflation remains elevated but discounts extreme increases, citing easing oil prices and the weakening of the United States... Read More

PEZA investment pledges back to pre-pandemic level

MANILA – The Philippine Economic Zone Authority (PEZA) reported Tuesday that investment pledges for 2022 are back to pre-pandemic level.In a statement, PEZA said it approved a total of PHP140.7 billion investment pledges this year, more than double from the PHP69.3 billion approvals in... Read More

Robust domestic demand to thwart recession in PH

MANILA – Elevated inflation and the expected global economic slowdown are seen to hurt economies in 2023 but an economist said domestic demand is seen to buoy the domestic economy and cushion the impact of external risks.In a virtual briefing on Monday, Manulife Investment Management Global... Read More

EO on dividend relief for DBP not linked to Maharlika fund: DOF

MANILA – Finance Secretary Benjamin Diokno discounted any link between the dividend relief for state-owned Development Bank of the Philippines (DBP) and the financial institution's possible placements in the proposed Maharlika Investment Fund (MIF).This, after House Deputy Minority Leader... Read More

PH seen to exceed GDP target for 2022: NEDA

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the country’s gross domestic product (GDP) for 2022 is expected to surpass the government target, supported by a robust fourth quarter economic performance.“The first three quarters, we are... Read More

Recession worries trigger another PH equities index sli

MANILA – Recession concerns continue to dampen investors' sentiment resulting to another negative close for the local bourse’s main index Monday, but the peso strengthened against the US dollar.The Philippine Stock Exchange index (PSEi) shed 1.27 percent, or 82.23 points, to 6,414.27... Read More

‘Big-time’ price hikes on diesel, kerosene before Christmas

MANILA – Less than a week before Christmas Day, oil companies will implement big-time price hikes on diesel and kerosene products and will also increase gasoline prices starting 12:01 a.m. Tuesday.In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix Petroleum, PTT Philippines,... Read More

PH dev’t plan 2023-2028 to focus on ‘transformation agenda’

MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the medium-term Philippine Development Plan (PDP) 2023-2028 that President Ferdinand R. Marcos Jr. has approved will focus on "transformation agenda."In a briefing Monday, Balisacan said the new PDP... Read More

BSP's 28-day securities rate tracks path of policy rate

MANILA –Rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose anew on Friday, a day after the central bank’s key policy rates have been hiked by 50 basis points as inflation is seen to remain elevated.Average rate of the debt paper rose to 6.4234 percent from last... Read More

PH equities index slip, peso gains vs. US dollar

MANILA –Weaker retail sales report from the US sustained the decline of the local bourse’s main index on Friday but the peso appreciated against the US dollar.The Philippine Stock Exchange index (PSEi) shed 1.07 percent, or 70.3 points, to 6,496.50 points.All Shares followed with a drop... Read More

Biz, consumer sentiments weaken further in Q4 '22

MANILA –Elevated inflation and peso depreciation, among others, dampened sentiments of both the consumers and businesses in the last quarter of 2022.In a briefing on Friday, Senior Director Redentor Paolo Alegre Jr., of the Bangko Sentral ng Pilipinas (BSP) Department of Economic Statistics... Read More

PH to lure RE technology, investments from Europe

MANILA –Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said the country targets to attract investments from Europe for technology transfer and development of the renewable energy sector here.In a virtual press briefing Friday, Rodolfo said European companies have... Read More

Unilever eyes PH as global hub for sustainability: DTI

MANILA –With the fresh commitment of Unilever to invest PHP4.7 billion in the Philippines during the visit of President Ferdinand R. Marcos Jr. to Brussels, the multinational consumer goods manufacturer aims to make the country its global hub for sustainability.In a virtual press briefing... Read More