SHARES dropped on profit taking after the release of full-year 2022 Philippine gross domestic product (GDP) and trade data. The benchmark Philippine Stock Exchange index (PSEi) went down by 38.66 points or 0.54% to close at 7,042.70 on Thursday, while the broader all shares index lost 9.87 points or 0.26% to end at 3,692.89. “The […]
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PHL shares rise on oil’s drop ahead of key data
STOCKS closed higher on Wednesday as global crude oil prices eased and ahead of the release of Philippine gross domestic product (GDP) data. The Philippine Stock Exchange index (PSEi) went up by 39.86 points or 0.56% to close at 7,081.36 on Wednesday, while the broader all shares index added 16.28 points or 0.44% to end […]
PH foreign borrowings plunge to $10.3B in 2022
FOREIGN borrowings approved by the Bangko Sentral ng Pilipinas (BSP) dropped for the second straight year in 2022. The central bank disclosed that approved foreign borrowings plunged 21.4 percent to $10.32 billion last year from $13.14 billion in 2021. The decline was attributed to lower bond issuances, as well as the significant drop in program […]
PHL shares climb ahead of key economic reports
PHILIPPINE STOCKS finished higher on Monday despite being in the red for most of the session due to profit taking ahead of the release of key economic data. The bellwether Philippine Stock Exchange index (PSEi) went up by 13.06 points or 0.18% to close at 7,069.68 on Monday, while the broader all shares index added […]
Shares decline on recession fears, profit taking
SHARES dropped on Thursday on profit taking as sentiment was dampened by recession fears and Wall Street’s decline. The benchmark Philippine Stock Exchange index (PSEi) went down by 32.85 points or 0.46% to close at 7,062.01 on Thursday, while the broader all shares index inched down by 5.83 points or 0.15% to end at 3,686.68. […]
Philippine stocks climb on upbeat economic view
PHILIPPINE STOCKS posted gains on Wednesday on positive market sentiment after the Finance chief said economic growth is expected to remain robust this year. The bellwether Philippine Stock Exchange index (PSEi) went up by 80.82 points or 1.15% to close at 7,094.86 on Wednesday, while the broader all shares index added 34.59 points or 0.94% […]
Bureau of Customs seizures down 14% in 2022
THE BUREAU of Customs (BoC) confiscated smuggled goods worth P24.28 billion in 2022, down 14.6% year on year. Last year’s total amount is lower than the P28.43 billion worth of goods seized in 2021. In a statement on Wednesday, the agency reported that it had a total of 709 seizures last year. These included illegal […]
PSEi surges to 7,000 level on Fed policy hopes
PHILIPPINE SHARES climbed on Monday amid Wall Street’s rise last week and a stronger peso amid expectations of smaller rate hikes from the US Federal Reserve. The 30-member Philippine Stock Exchange index (PSEi) went up by 93.94 points or 1.35% to 7,045.48 on Monday, while the broader all shares index rose by 37.53 points or […]
NPL ratio continues to decline in November
BAD DEBTS held by Philippine banks continued to drop in November, bringing the industry’s nonperforming loan (NPL) ratio to 3.35%, with the Bangko Sentral ng Pilipinas (BSP) governor saying he does not expect a further rise this year. Based on data from the central bank, soured loans slipped by 0.9% to P408.097 billion in November […]
PSEi climbs on rate hike bets ahead of US CPI
STOCKS climbed on Thursday ahead of the release of the December US consumer price index (CPI) report overnight, which investors expect to be a key consideration at the US Federal Reserve’s policy meeting later this month, and following comments from the Bangko Sentral ng Pilipinas (BSP) chief. The bellwether Philippine Stock Exchange index (PSEi) rose […]
Local shares decline on inflation, rate hike bets
SHARES dropped on Wednesday ahead of release of December US consumer inflation data and expectations of rate hikes from both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) in their first meetings of the year. The bellwether Philippine Stock Exchange index (PSEi) went down by 47.35 points or 0.7% to close at […]
PSE targets 14 IPOs for 2023
THE Philippine Stock Exchange (PSE) is targeting 14 initial public offerings (IPOs) for the year, expressing its optimism for the year of the Water Rabbit. The potential listing applicants include 11 companies and real estate investment trust that will list on the main board and the remaining three are firms that are expected to debut […]
Peso surges on GIR data, hopes of slower Fed hikes
THE PESO surged against the dollar on Monday on bets of slower rate hikes from the US Federal Reserve and as the Philippines’ gross international reserves (GIR) rose at end-2022. The local currency closed at P55.11 versus the greenback, up by 53 centavos from Friday’s finish of P55.64, data from the Bankers Association of the […]
Local shares climb ahead of key economic data
PHILIPPINE SHARES climbed on the first trading day of 2023 as investors remained bullish ahead of the release of key economic reports at home and in the United States. The benchmark Philippine Stock Exchange index (PSEi) went up by 19.62 points or 0.29% to close at 6,586.01 on Tuesday, while the broader all shares index […]
Top 10 trade and investment stories of 2022
Here is this column’s assessment of the important trade and investment stories of the past year, five global and five national. 1. Big recovery in global merchandise trade by nearly $4 trillion in 2021 over 2020 The World Trade Organization (WTO) in November released its flagship annual publication, the World Trade Statistical Review 2022. Global […]
PSE projects market rebound after decline in 2022
BOURSE operator Philippine Stock Exchange, Inc. (PSE) expects local shares to bounce back in 2023 as it banks on the further reopening of the economy after 2022 saw the main index drop by 7.8%. “We are optimistic that the stock market can bounce back next year as the global economy continues to open up and […]
FCDU loans inch down as of Sept. due to tighter lending standards
OUTSTANDING LOANS granted by the foreign currency deposit units (FCDU) of banks inched down at end-September from the quarter prior amid eased credit parameters and tightening of lending standards, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. Loans granted by the FCDU of banks went down by 0.29% to $15.665 billion as of September […]
Cebu City okays historic P51.4B budget for 2023
THE Cebu City Council has approved the P51.4 billion proposed budget of the City Government for 2023, which is expected to fuel the Singapore-like Cebu City vision of Mayor Michael Rama. With an affirmative vote from 10 councilors, three negative votes, and one abstention, the ordinance enacting City Hall’s P51,457,715,685.30 annual budget for next year […]
Shares inch up on window dressing, lack of leads
LOCAL SHARES inched up on Tuesday on window dressing ahead of the year’s close and amid lack of fresh leads. The benchmark Philippine Stock Exchange index (PSEi) climbed by 23.87 points or 0.36% to close at 6,564.90 on Monday, while the broader all shares index rose by 8.95 points or 0.26% to 3,441.42. “Local shares […]
Customs raises P268M from auctions of seized goods
THE BUREAU of Customs (BoC) said it generated P268.483 million from auctions of seized goods as between July 25 and Nov. 1. The bureau said it auctioned a total of 137 containers of various goods including luxury vehicles, general merchandise, and other products. The BoC said it also collected P24.942 million following audits P391.289 million […]