Category: Business

  • Only P5 billion raised from T-bill auction; rates rise

    Only P5 billion raised from T-bill auction; rates rise

    The government only made a partial award of P5 billion in short-dated Treasury bills (T-bills) as investors continue to demand higher yields. Results were mixed during yesterday’s T-bills auction as the Bureau of the Treasury made a partial award of P5 billion out of the P15 billion on offer. This week’s auction results were a…

  • Marcos bags $8.5 B in business deals during visit to Indonesia

    Marcos bags $8.5 B in business deals during visit to Indonesia

    About $8.5 billion-worth of investment deals have been sealed by President Ferdinand “Bongbong” Marcos Jr. during his first state visit here. This was according to Press Secretary Trixie Cruz-Angeles, who said Tuesday night that the amount could translate to at least 7,000 new jobs. During the Jakarta Business Roundtable Meeting on Sept. 5, the President…

  • Peso drops to all-time low: P56.77 vs US dollar

    Peso drops to all-time low: P56.77 vs US dollar

    The Philippine peso sank on Friday to its lowest level in history at P56.77 against the US dollar as the greenback’s rally ravaged currencies across the globe. The local currency also posted its new record intraday low of P56.90:$1 on the local spot market as investors worldwide anticipate further interest rate hikes by the US…

  • Marcos admin bares plan to improve salt industry

    Marcos admin bares plan to improve salt industry

    The Marcos administration on Monday bared its plan to enhance the salt production in the country. In a statement, the Office of the Press Secretary (OPS) said the Department of Agriculture, which is being headed by President Ferdinand “Bongbong” Marcos Jr., will lead the efforts together with other government agencies. The plan includes the following: …

  • Diesel prices up by P6.10/liter; gasoline by P1.40|liter

    Diesel prices up by P6.10/liter; gasoline by P1.40|liter

    Due to renewed swell of prices in the international market, Filipino consumers have to take the pain of higher expenses anew when they fill up their vehicles at the petroleum pumps. As announced by the oil companies, the price of diesel will substantially rise by P6.10 per liter; while gasoline prices will increase by P1.40…

  • Globe’s retail innovation, ‘EasyHub,’ now in Calbayog City

    Globe’s retail innovation, ‘EasyHub,’ now in Calbayog City

    GLOBE continues to expand the reach of EasyHub, its retail innovation, in the Visayas region since it opened the interactive one-stop shop in Calbayog City, Samar on August 5, 2022. With the opening of the EasyHub booth at Super Metro Calbayog, customers from the city and nearby areas may now easily connect, explore, and fulfill…

  • BSP approves rules on sustainable investments

    BSP approves rules on sustainable investments

    BSP Governor Felipe M. Medalla, who signed Circular No. 1149 or the “Guidelines on the Integration of Sustainability Principles in Investment Activities of Banks” on Aug. 23, said the new rules address the essentials in sustainable finance: its safety and soundness. This is also the third phase of sustainable finance regulations. Medalla said the BSP…

  • Hann and Accor to build two more hotels in Clark

    Hann and Accor to build two more hotels in Clark

    Hann and Accor groups have agreed to expand their partnership for the construction of two more luxury hotels as part of its $2 billion integrated lifestyle resort development in Clark. According to a company statement, the deal was signed recently in Singapore by Garth Simmons, CEO Accor – Southeast Asia, Japan and South Korea and…

  • Satellite internet for banks launched

    Satellite internet for banks launched

    The Bangko Sentral ng Pilipinas (BSP), the Philippine Space Agency (PhilSA) and Department of Science and Technology-Advanced Science and Technology Institute (DOST-ASTI) have started to deploy satellite internet services to improve banks’ internet connectivity in community areas especially in remote locations. The BSP, PhilSA and DOST-ASTI are testing the satellite technology initially on two rural…

  • More, yet smaller, BSP rate hikes expected

    More, yet smaller, BSP rate hikes expected

    Most economic think tanks see additional—but smaller—increases in the policy rate of the Bangko Sentral ng Pilipinas (BSP) in the coming months. But many expect the tightening cycle to pause after December, mainly as inflation is projected to peak in the fourth quarter. Gareth Leather, senior economist on Asia at the United Kingdom-based Capital Economics,…