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BSP sees ‘modest’ dollar surplus in 2021
4:37 pm on 18 September 2021, Saturday
The Bangko Sentral ng Pilipinas is seeing a smaller dollar surplus for the economy than it previously projected, taking on a “more guarded view” as pandemic uncertainties linger. For this year, the BSP is forecasting a balance of payments (BOP) surplus of $4.1 billion, markedly low...
Car importers post sales slump in August
5:37 pm on 17 September 2021, Friday
Car importers posted a double-digit sales decline in August, no thanks to fresh lockdowns that hit demand anew. Imported cars sold in August stood at 3,919 units, down 18% year-on-year, the Association of Vehicle Importers and Distributors Inc. (AVID), an industry group, reported Friday....
SEC approves Jollibee’s preferred share sale
5:11 pm on 17 September 2021, Friday
The Securities and Exchange Commission (SEC) said Friday it approved the plan of Jollibee Foods Corp. to sell P20 billion worth of preferred shares. In its meeting on September 16, the Commission En Banc rendered effective the registration statement of JFC covering up to 20 million...
Remittances growth slows down in July
5:30 pm on 15 September 2021, Wednesday
Remittances from Filipino migrants grew in July, but at a slower rate than the preceding month, the Bangko Sentral ng Pilipinas reported Wednesday. In a statement, the BSP said cash remittances coursed through banks amounted to $2.85 billion in July, up 2.5% year-on-year. ...
SEC launches 1-day online processing registration system
1:14 pm on 15 September 2021, Wednesday
Corporate regulators announced Wednesday it held the soft launch for a new feature in its online company registration system that will allow applicants to complete the process in one day. In a statement, the Securities and Exchange Commission (SEC) said the revamp aims to make starting a busin...
DOF: Gov’t financed, ordered enough COVID-19 vaccines for 100-M Filipinos
5:10 pm on 14 September 2021, Tuesday
The Philippines has already secured the financing for, and ordered, enough doses of COVID-19 vaccines to inoculate 100 million Filipinos by the end of the year, the Department of Finance said Monday. In a statement, the DOF said the vaccines financed and ordered by the national government tota...
NEDA: Agri, human capital key to strong post-covid economy
5:04 pm on 14 September 2021, Tuesday
The government’s socioeconomic planning agency said Tuesday that reforms that enable structural transformation and strengthen human capital development are the foundations of a more resilient economy in a post-pandemic world. In a statement, Socioeconomic Planning Secretary K...
PSALM turns over P4.31-B for backpay of laid-off NPC employees
5:43 pm on 13 September 2021, Monday
The Power Sector Assets and Liabilities Management Corp. (PSALM) has so far turned over to the National Power Corp. (NPC) a total of P4.31 billion to cover the payment of back wages and other benefits due to nearly 2,000 former employees. In a statement on Monday, the Department of Finance sai...
CEOs say lockdowns have heavy costs on businesses
5:39 pm on 13 September 2021, Monday
Nearly half of Philippine CEOs said profitability takes a big hit whenever lockdowns are imposed, a new survey released Monday found. Forty-two percent of the CEOs say that their average daily sales/revenues decline by at least 20 percent each time the country is placed under lockdowns....
Dominguez sees bright PHL economic prospects amid pandemic recovery
5:04 pm on 11 September 2021, Saturday
Finance Secretary Carlos Dominguez III believes there is much to be optimistic about the country’s economic outlook despite the pandemic, saying the government has been “doing its utmost” to help pandemic-hit businesses. In a statement, Dominguez said the state has been helpi...
FDIs rise 60.4% in June — BSP
4:44 pm on 11 September 2021, Saturday
Foreign direct investments to the Philippines posted a sharp increase in June, as easing coronavirus lockdowns soothe investor's nerves. FDIs posted a net inflow of $833 million in June, up 60.4% year-on-year, the Bangko Sentral ng Pilipinas reported. Tha...
Meralco rates up in September
6:07 pm on 10 September 2021, Friday
Manila Electric Co. (Meralco) announced Friday a “slight” increase to electricity rates in September due to higher generation charge. In a statement, Meralco said the overall rate for a typical household inched up by P0.1055 per kWh to P9.1091 per kWh from last...