THE PESO fell to an over one-month low against the dollar on Wednesday as latest US consumer inflation data supported worries over further rate increases by the Federal Reserve. The local currency closed at P55.17 versus the greenback on Wednesday, declining by 34 centavos from Tuesday’s P54.83 finish, Bankers Association of the Philippines data showed. […]
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Peso weakens as US inflation, rate hike bets fuel dollar’s rise
THE PESO weakened on Monday due to broad dollar strength ahead of the release of the January US consumer price index (CPI) report on Tuesday. The local currency closed at P54.76 versus the greenback on Monday, declining by 34 centavos from Friday’s P54.42 finish, Bankers Association of the Philippines data showed. The peso opened Monday’s […]
Peso climbs further as dollar weakens amid slowdown fears
THE PESO strengthened on Thursday amid broad dollar weakness due to concerns over the health of the world’s largest economy. The local currency closed at P54.45 versus the greenback on Thursday, appreciating by 35 centavos from Wednesday’s P54.80 finish, data from the Bankers Association of the Philippines showed. The peso opened Thursday’s trading session slightly […]
Ex-Ronda treasurer found guilty of graft, malversation
THE former municipal treasurer of Ronda town, southwest Cebu has been found guilty by the Sandiganbayan of graft and malversation of public funds involving P2.06 million in 2009. In a 124-page decision, the Sandiganbayan Sixth Division sentenced former Ronda town treasurer Esperato del Socorro to two jail terms, each having sentences ranging from six years […]
Peso up on profit taking, Fed chair’s comments
THE PESO rebounded against the dollar on Wednesday on profit taking and remarks from the US Federal Reserve chief. The local currency closed at P54.80 versus the greenback on Wednesday, strengthening by 28.5 centavos from Tuesday’s P55.085 finish, data from the Bankers Association of the Philippines showed. The peso opened Wednesday’s trading session at P55 […]
Go, accused of estafa, asks court to lift arrest warrant
THE camp of Michelle Lim Go has sought the lifting of the arrest warrant issued against her last month, saying she was deprived of due process in relation to the multimillion-peso estafa complaint filed by a Cebuano businessman against her and two others back in 2022. Ruben Capahi, legal counsel of Go, told Judge Judilyn […]
DENR issues cease-and-desist order against miner Altai
THE Department of Environment and Natural Resources (DENR) has issued a cease-and-desist order against the Altai Philippines Mining Corp. (APMC) following an alleged breach of environmental regulations at its nickel exploration site in Romblon. The joint order issued by the DENR office in the Mimaropa (Mindoro, Marinduque, Romblon, Palawan) region on Monday also suspends the […]
PHL deports 2 of 4 Japanese fugitives charged with robbery, fraud
THE PHILIPPINES deported on Tuesday two of four high-profile Japanese fugitives allegedly involved in a robbery scheme in Tokyo, following the dismissal of their cases in Manila, according to a statement released by the Department of Justice. “Today, we deport Imamura Kiyoto and Fujita Toshiya as they have been cleared of any legal impediment,” Justice […]
Peso down vs dollar on strong job data
THE PESO slumped against the dollar on Monday following the release of stronger-than-expected US labor data. The local currency closed at P54.39 versus the greenback on Monday, declining by 71 centavos from Friday’s P53.68 finish, data from the Bankers Association of the Philippines showed. The peso opened Monday’s trading session at P54.15 per dollar. Its […]
Peso returns to P53-a-dollar level on dovish Fed statement
THE PESO surged to a seven-month high against the dollar on Thursday, returning to the P53 level, as a smaller rate hike and dovish statements from the US Federal Reserve caused the greenback to tumble. The local currency closed at P53.845 versus the greenback on Thursday, appreciating by 63 centavos from Wednesday’s P54.475 finish, data […]
IBP denounces an attack on Abra lawyer
THE PHILIPPINES’ official organization of lawyers has condemned an armed attack on its chapter president in Abra, calling it another indication of the culture of impunity against legal professionals in the country. In a statement on Wednesday, the Integrated Bar of the Philippines (IBP) urged law enforcement agencies to probe the incident in the northern […]
Peso down on inflation bets
THE PESO dropped further against the dollar on Tuesday after the Bangko Sentral ng Pilipinas (BSP) said inflation likely remained elevated in January. The local currency closed at P54.64 versus the greenback on Tuesday, declining by 9.5 centavos from Monday’s P54.545 finish, data from the Bankers Association of the Philippines’ website showed. The peso opened […]
PHL Justice dept to expedite local cases vs 4 Japanese sought for deportation by Japan
THE PHILIPPINE Justice department has promised the Japanese government that it will expedite the deportation of four detained Japanese nationals who are suspected of masterminding a series of robberies in their home country. Justice Secretary Jesus Crispin C. Remulla, at a press briefing streamed live on Facebook on Tuesday, said three of the suspects cannot […]
Peso weakens vs dollar
THE PESO weakened against the dollar on Monday after China’s cabinet pledged support for the economy’s recovery. The local currency closed at P54.545 versus the greenback on Monday, declining by 7.5 centavos from Friday’s P54.47 finish, data from the Bankers Association of the Philippines showed. The peso opened Monday’s trading session at P54.55 per dollar. […]
SEC warns against six investment-taking entities
THE Securities and Exchange Commission (SEC) in separate advisories warned the public against the investment-taking activities of six entities that are not registered as a corporation or a partnership. The commission identified them as PPG Investment Group, Livewell Multi-Ventures, BlackRock, Perfx Solution Corp., Trading Basket, and Flipkart. All are not authorized to solicit investments from […]
US lawsuit against Google could benefit Apple and others
A landmark lawsuit by the US Justice Department against Alphabet’s Google over its dominance of advertising technology could help rivals and websites that sell ad space, but leaves an uncertain future for the advertisers themselves, experts told Reuters. The Justice Department’s complaint against Google on Tuesday called for the company to divest Google Ad Manager, […]
Peso rises to new 7-month high on GDP
THE PESO climbed to a new seven-month high against the dollar on Thursday as the Philippine gross domestic product (GDP) growth was above target in 2022. The local currency closed at P54.40 versus the greenback on Thursday, rising by 23 centavos from Wednesday’s P54.63 finish, data from the Bankers Association of the Philippines showed. This […]
Peso weakens vs the dollar as UK, euro zone data spark recession fears
THE PESO weakened against the dollar on Wednesday amid weaker manufacturing data in Europe that roused fears of a global recession. The local currency closed at P54.63 versus the greenback on Wednesday, dropping by 19.5 centavos from Tuesday’s P54.435 finish, data from the Bankers Association of the Philippines showed. The peso opened Wednesday’s trading session […]
Peso rises to seven-month high as market awaits Fed meeting
THE PESO climbed to a seven-month high against the dollar on Tuesday on expectations of discussions of a pause in tightening at the US Federal Reserve’s review next week. The local currency closed at P54.435 versus the greenback on Tuesday, climbing by 10.5 centavos from Monday’s P54.54 finish, data from the Bankers Association of the […]
Peso may rise vs dollar on US CPI data
THE PESO is expected to continue rising against the dollar this week as investors price in US consumer inflation data that bolstered hopes of smaller rate hikes from the US Federal Reserve. The local unit closed at P54.89 per dollar on Friday, strengthening by 40 centavos from its P55.29 finish on Thursday, Bankers Association of […]