Economic team lauds RCEP ratification
Economic managers welcomed the ratification of the Regional Comprehensive Economic Partnership (RCEP), saying the mega-trade deal would strengthen the Philippines’ position as an ideal investment hub
NEDA finalizes P15-T projects for Marcos approval
The National Economic and Development Authority (NEDA) said the government is finalizing a list of flagship projects worth P15 trillion that will be up for President Marcos’ approval next month. Duri
PhilID onboards unbanked Filipinos, provides identification
The Philippine Statistics Authority (PSA) said the implementation of the national identification system has achieved its goals of onboarding unbanked Filipinos while providing a valid proof of identi
BSP, banks, to study cuts in costly e-payments
The Bangko Sentral ng Pilipinas (BSP) said on Thursday, March 2, that it has began the review of e-payment transactions and to study how soon it can work with both banks and non-banks in reducing e-p
BSP poised for more rate hikes — Medalla
Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said there will be more policy rate increases this year to bring down inflation to below four percent in November or December, or at the v
SEC warns of 3 more Ponzi scams
The Securities and Exchange Commission is warning the public not to invest three firms offering investment schemes online that appear to be Ponzi scams.In separate advisorites, the Commission warned
Gov’t defers retail dollar bond sale to Q2
The Department of Finance (DOF) said the Marcos administration is now looking at selling retail dollar bonds in the second-quarter of the year as the government sees strong interest from overseas Fil
LPG leaders unite to strengthen industry’s role
The local LPG (liquefied petroleum gas) industry is staging its largest summit as they seek to strengthen their role in the changing energy landscape. Former LPGMA Party-list Representative and Republ
Megaworld profit inches up 7% to P15.4 B
Township developer Megaworld Corporation reported a 7 percent improvement in net income to P15.4 billion last year from P14.4 billion in 2021, boosted by double‐digit revenue growth across all of its
Megawide, EDC to build P16.5 B data center
Megawide Construction Corporation is teaming up Singapore-based Evolution Data Centres (EDC) to design, build and operate a P16.5 billion carrier-neutral data center in the Philippines. In a dis
Stocks stop slide on good earnings reports
The local stock market took a breather from its downward trend as investor sentiment was buoyed by positive corporate earnings reports. The main index rose 50.93 percent or 0.78 percent to close at
PSBank profits rise to record high
Philippine Savings Bank (PSBank), the thrift-banking arm of the Metrobank Group, reported that its net income shot up 139 percent to a record-high P3.68 billion in 2022 from the P1.54 billion earned
AyalaLand Logistics posts P1-B net income
AyalaLand Logistics Holdings Corporation (ALLHC), a subsidiary of Ayala Land, Inc. (ALI), registered a 29 percent growth in net income to P1.01 billion last year on account of resilient operations an
2GO Group to delist from PSE
The Philippine Stock Exchange has granted the request of 2GO Group Inc. for a voluntary suspension of the trading of its shares after it announced a plan to voluntary delist its shares from the bours
Stocks lose most of the day’s gains
Local share prices were higher but much lower than the day’s peak as investors wait for cues from economic data due in coming days. The main index inched up 15.32 points or 0.23 percent to close at
MacroAsia partners with Chinese firm for expansion
MacroAsia Corporation, the airline logistics unit of the Lucio Tan Group, has signed a Strategic Cooperation Agreement with Weihai Guangtai Airport Equipment Co. Ltd. which includes the supply of P12
Hot money nets $292M in January
The Bangko Sentral ng Pilipinas (BSP) registered $292.12 million “hot money” net investments for the month of January, higher than December’s $92.95 million and from same period in 2022 of $14.6 mill
BSP relaxes rule on PERA administrators’ required security
The Bangko Sentral ng Pilipinas (BSP) said it has reduced the 0.5 percent security for all administrators of the Personal Equity and Retirement Account (PERA) to a zero rate, effectively removing thi
AIA PH sets up P155-B wealth management unit
AlA Philippines has launched on Thursday, Feb. 23, the company’s investment management arm in the country. In a briefing, Kelvin Ang, AlA Philippines chief executive officer introduced AlA Investment
BSP’s Paleng-QR Ph in Metro Manila cities soon
After implementing the Paleng-QR Ph Plus program in several key areas outside of the National Capital Region, the central bank is launching the digital payments ecosystem in Pasig this week, the firs