PHILIPPINE shares opened the week in the red on cautious trading due to the lack of positive catalysts and ahead of central bank meetings here and abroad. The Philippine Stock Exchange index (PSEi) lost 54.95 points or 0.79% to close at 6,857.90 on Monday, while the all shares index shed 29.51 points or 0.68% to […]
Tag: billion
BSP lowers balance of payments projections
The Bangko Sentral ng Pilipinas (BSP) lowered the country’s balance of payments (BoP) surplus projection for this year, reflecting the lower current account surplus and the risks arising from the spread of the more infectious coronavirus variant and delays in the vaccine rollout. The Monetary Board on Thursday approved the revised BoP projections for 2021 and 2022. The BoP is now projected […]
Shares drop on concerns over new restrictions
PHILIPPINE SHARES declined on Wednesday on concerns over the implementation of new coronavirus disease 2019 (COVID-19) restrictions in Metro Manila. The Philippine Stock Exchange index (PSEi) declined by 40.16 points or 0.58% to close at 6,880.20 on Wednesday, while the broader all shares index went down by 17.37 points or 0.40% to finish at 4,277.63. […]
Customs collects nearly P11.7 billion in rice tariffs
THE BUREAU of Customs (BoC) has collected P11.69 billion worth of tariffs from 1.74 million metric tons (MT) of rice imports in the eight months to August, exceeding its fund-raising target for the rice modernization fund, though collections have fallen year on year due to lower import volumes. The Finance department said Sunday that collections […]
Stocks climb as metro kept under strict lockdown
PHILIPPINE shares closed in the green on Tuesday after the government decided to keep Metro Manila under strict lockdown measures due to the continued rise in coronavirus disease 2019 (COVID-19) infections. The Philippine Stock Exchange index (PSEi) went up by 36.68 points or 0.53% on Wednesday to close at 6,949.39, while the broader all shares […]
PSEi drops as PAL files for bankruptcy in the US
SHARES declined on Monday on profit taking and as Philippine Airlines, Inc. (PAL) filed for bankruptcy protection in the United States. The Philippine Stock Exchange index (PSEi) went down by 20.03 points or 0.29% to close at 6,877.10 on Monday, while the all shares index shed 5.96 points or 0.14% to 4,255.73. “Market went on […]
Stocks fall as manufacturing PMI drops in Aug.
SHARES declined on last-minute profit taking after manufacturing activity in the country dropped last month as strict lockdown restrictions were reimposed amid a surge in coronavirus disease 2019 (COVID-19) cases. The benchmark Philippine Stock Exchange index (PSEi) dropped 69.50 points or 1.01% to close at 6,785.94 on Wednesday, while the all shares index lost 10.32 […]
Shares rise after last-minute bargain hunting
PHILIPPINE shares closed higher on Tuesday on last-minute bargain hunting after trading in negative territory for most of the session as the country logged record coronavirus disease 2019 (COVID-19) infections on Monday. The Philippine Stock Exchange index (PSEi) gained 68.82 points or 1.01% on Tuesday to close at 6,855.44, while the all shares index climbed […]
‘Anomaly’ flagged in supply deals
Senator Franklin M. Drilon cited several warning signs of potential anomaly, corruption or fraud in the procurement of several medical supplies by the Budget department. “I am worried there are so many red flags in the procurement of several medical items,” the senator said in a statement on Friday. “These warning signs indicate possible anomaly, corruption or fraud.” “Red […]
P9.1-B cash aid in Metro Manila released
ABOUT 81% or P9.1 billion out of the P11.2-billion financial assistance for Metro Manila residents affected by the recent two-week strict lockdown has already been released as of Aug. 24, the Presidential Palace said on Thursday. This means more than nine million beneficiaries have received cash assistance, Palace Spokesman Herminio L. Roque, Jr. told a televised news briefing. He added that the national […]
PSEi up as investors shrug off record COVID cases
PHILIPPINE shares closed in the green on Tuesday as investor sentiment got a boost from improvements in the country’s vaccination rate and fresh data showing a narrower budget deficit in July. The Philippine Stock Exchange index (PSEi) gained 87.15 points or 1.32% on Tuesday to close at 6,678.82, while the broader all shares index added […]
Gov’t trading company returns P5.2B to Treasury
THE PHILIPPINE International Trading Corp. (PITC) returned P5.2 billion worth of idle funds with interest to the Bureau of the Treasury (BTr) in the first half, the Department of Finance (DoF) said. The DoF said in a statement Tuesday that it asked the trading arm of the Department of Trade and Industry (DTI) to return […]
Shares decline on profit taking as infections rise
SHARES declined on Monday due to profit taking as rising coronavirus disease 2019 (COVID-19) infections in the country soured market sentiment. The benchmark Philippine Stock Exchange index (PSEi) declined by 41.55 points or 0.62% to close at 6,591.67 on Monday, while the broader all shares index went down by 12.76 points or 0.3% to end […]
PHL receives last tranche of P23-B standby loan from Japan
THE PHILIPPINES has received the fourth and last tranche worth ¥10 billion (P4.6 billion) from Japan’s standby loan facility for the government’s pandemic response, the Japan International Cooperation Agency (JICA) said on Friday. JICA, the lending arm of the Japanese government, has now fully disbursed the ¥50-billion (P23 billion) post-disaster standby loan package it extended […]
BSP raises P100 billion via 28-day bills
THE CENTRAL BANK made a full award of the short-term securities it offered on Friday as rates declined as the government kept Metro Manila under strict quarantine measures. The Bangko Sentral ng Pilipinas raised P100 billion via the 28-day bills it auctioned off on Friday out of bids worth P153.98 billion, nearly twice as much as the offer […]
Vulcan board approves corporate changes
VULCAN Industrial & Mining Corp. announced that its board of directors approved certain amendments to the company’s articles of incorporation. Vulcan said in a regulatory filing on Thursday that its board, during a special meeting on Aug. 18, approved proposed amendments to the company’s first, third, sixth, and seventh articles of incorporation. “[The] said amendments […]
PSEi extends rally on firms’ positive Q2 results
PHILIPPINE shares climbed on Wednesday, along with other markets in the region, as earnings of most companies rebounded in the second quarter. The Philippine Stock Exchange index (PSEi) went up by 118.77 points or 1.81% to close at 6,680.18 on Wednesday, while the all shares index gained 45.94 points or 1.12% to end at 4,118.41. […]
Shares rise on remittances data, firms’ earnings
PHILIPPINE shares rose on Tuesday after remittances recorded a six-month high in June and as the corporate earnings season ends on a “high note.” The Philippine Stock Exchange index (PSEi) went up by 47.73 points or 0.73% to close at 6,561.41 on Tuesday, while the all shares index climbed 19.31 points or 0.47% to 4,072.47. […]
Local stocks rally as investors pick up bargains
STOCKS rose on Monday on the back of bargain hunting following the sell-off seen on Friday and as more companies released their second quarter earnings results. The Philippine Stock Exchange index (PSEi) climbed 193.49 points or 3.06% to close at 6,513.68 on Monday, while the broader all shares index went up by 76.22 points or […]
PSE index sinks on lockdown fears, rebalancing
PHILIPPINE shares sank on Thursday as the country’s coronavirus disease 2019 (COVID-19) situation affected sentiment and as investors adjusted their portfolios to prepare for the index’s rebalancing. The Philippine Stock Exchange index (PSEi) shed 110.29 points or 1.65% to close at 6,556.57 on Thursday, while the broader all shares index went down by 51.68 points […]