Stocks may trade sideways amid lack of drivers

LOCAL EQUITIES may trade sideways this week due to bargain hunting and a lack of fresh leads. The Philippine Stock Exchange index (PSEi) declined by 95.23 points or 1.47% to 6,379.03 on Friday, while the broader all shares index went down by 33.65 points or 0.97% to close at 3,422.28. Week on week, the PSEi […]

Peso may move sideways ahead of key US data

THE PESO is expected to trade sideways against the dollar this week ahead of the release of US economic data that could affect the US Federal Reserve’s next move. The local currency closed at P55.62 versus the dollar on Friday, weakening by 12 centavos from Thursday’s P55.50 finish, data from the Bankers Association of the […]

Congressmen seek probe of ‘Love the Philippines’ fiasco

A GROUP of congressmen is seeking to investigate the gaffe involving the Philippines’ latest global tourism campaign in which the ad agency used stock footage from other countries. “It is imperative that we shed light on this ‘Frasco fiasco’ to ensure that public funds are being utilized appropriately and that there is no undue influence […]

MWSS told to act vs Maynilad

SENATOR Grace Poe-Llamanzares on Sunday asked the Metropolitan Waterworks and Sewerage System (MWSS) to take action against Maynilad Water Services, Inc. with its planned water service interruption affecting almost 600,000 customers starting July 12. “MWSS should not take this matter sitting down as these recurring service cuts will affect over half a million consumers,” the […]

DoJ rules on Nayong Pilipino

THE NAYONG Pilipino Foundation (NPF) need not hold a bidding to lease part of its park to Westside City, Inc., according to the Department of Justice (DoJ). In a legal opinion dated July 6, Justice Undersecretary Nicholas Felix L. Ty. said there is no law that requires public bidding for the lease of government property. […]

Few Filipinas get cancer tests

ONLY 1% OF FILIPINO women are screened for breast and cervical cancer, according to a government think tank, the Philippine Institute for Development Studies (PIDS) said in a statement on Sunday. “Screening for breast and cervical cancer among Filipino women could be the lowest in the world with just 1% of eligible women getting themselves […]

Carmona now a city of Cavite 

THE TOWN of Carmona in Cavite province is now a city after residents on Saturday voted in favor of a law on the conversion, the Commission on Elections (Comelec) said on Sunday, paving the way for a bigger share in national taxes for the city. More than 30,000 residents voted yes for the town’s conversion […]

Poor mental health tack cited

THE PHILIPPINES lags in mental health care due to poor enforcement of its laws, as well as the lack of psychologists in the country, experts said at the weekend. “We have fewer than 3,000 psychologists in the country,” Arsenio S. Alianan, Jr., associate director of the Ateneo Bulatao Center, said in a video interview. He […]

Three provincial airports could undergo Swiss challenge this year

THE Department of Transportation (DoTr) said it hopes to kick off the public procurement process for three provincial airports within the year, starting with Swiss challenges on three projects. “There are three pending proposals with the National Economic and Development Authority (NEDA) right now. Then we will have the other provincial airports which we expect […]

Water interruptions seen likely as Angat Dam levels dwindle

DECLINING water levels at Angat Dam will likely result in water interruptions and power generation, water and energy regulators said. On Saturday, the National Water Resources Board (NWRB) reduced the water allocation for Metropolitan Waterworks and Sewerage System (MWSS) to 48 cubic meters per second (CMS) from 50 CMS, according to Patrick James B. Dizon, […]

Providing value for the tech-reliant consumer

(First of two parts) The emergence of disruptive technologies along with ongoing global crises are impacting the consumer product and retail (CPR) sector, and the consumer value proposition working today may not be successful tomorrow. With this in mind, regional and local business strategy, Climate Change and Sustainability Services, and CPR leaders from SGV and […]

Rate cuts eyed if inflation falls below 4%

By Keisha B. Ta-asan, Reporter INTEREST RATE CUTS may be on the table this year if inflation falls below 4% by October, the new Bangko Sentral ng Pilipinas (BSP) governor said. BSP Governor Eli M. Remolona told reporters on Wednesday evening the slower-than-expected inflation in June “somewhat” supports an extended pause in interest rate hikes. […]

EO streamlines permits for digital infrastructure

PRESIDENT Ferdinand R. Marcos, Jr. has ordered government agencies to simplify the permitting process for telecommunications and internet infrastructure projects. However, an analyst warned that Executive Order (EO) No. 32 may be challenged at the local level because it may impede the autonomy of local government units (LGU) to implement policies they deem important. “To […]

Gov’t agencies ordered to strengthen efforts vs money laundering

MALACAÑANG ordered all relevant government agencies to implement plans and programs in the fight against money laundering, terrorism financing and proliferation financing, as the Philippines seeks to exit the Financial Action Task Force’s (FATF) “gray list” by January 2024. President Ferdinand R. Marcos, Jr. signed Executive Order No. 33, which updated the National Anti-Money Laundering, […]

Central bank launches overnight reference rate

THE BANGKO SENTRAL ng Pilipinas (BSP) launched on Thursday an overnight reference rate that will serve as the market’s reference amid the phaseout of the London Interbank Offered Rate (LIBOR).    Now published on the BSP’s website, the overnight rate (ON) uses the secondary market rate on the 28-day BSP bill as a reference to […]