STOCKS started the week in the red as investors took profits amid the increase in coronavirus disease 2019 (COVID-19) cases and as the shift in the US Federal Reserve’s rate hike expectations continued to affect sentiment. The Philippine Stock Exchange index (PSEi) went down by 24.21 points or 0.35% to close at 6,827.17 on Monday, […]
Tag: billion
Palace says over P18 billion in Bayanihan II funds available
THE PALACE confirmed Monday that over P18 billion from the second stimulus package, known as Bayanihan II, remains unused, following calls by senators to spend the hundreds of billions of pesos allotted for the pandemic response measure before it expires this month. “Mayroon pa tayong P18.4 billion or 13% na hindi pa nao-obligate (We have […]
BSP fully awards 28-day bills
The Philippine central bank raised P100 billion from its auction of short-term securities on Friday even as rates rose on hints by the US central bank of a looming interest rate increase in 2023. The Bangko Sentral ng Pilipinas (BSP) fully awarded the 28-day bills from total bids worth P140.525 billion. The auction was 1.4 […]
Q1 external debt declines
The country’s outstanding foreign debt fell by 1.5% or $1.4 billion to $97 billion at the end of March from end-December, after the National Government redeemed maturing bonds and local banks settled their obligations, according to the Philippine central bank. Year-on-year, the country’s debt stock rose by $15.6 billion after borrowings worth $13.5 billion by […]
Local shares inch higher on last-minute buying
SHARES started the week in the green on last-minute buying ahead of the announcement of new quarantine restrictions, which was scheduled to happen after the market’s close on Monday. The Philippine Stock Exchange index (PSEi) inched up by 9.70 points or 0.14% to close at 6,917.49 on Monday, while the all shares index went up […]
BSP dollar reserves dip in May
The central bank’s dollar reserves dipped in May, as the government withdrew foreign currency to use for debt repayments. Data from the Bangko Sentral ng Pilipinas (BSP) showed the gross international reserves (GIR) declined by 0.67% to $106.978 billion as of end-May, from the $107.705 billion logged as of end-April. However, this was 14.7% higher than the $93.288 […]
Yields on term deposits climb on concerns over US inflation
YIELDS ON THE central bank’s term deposits increased on Wednesday due to concerns over US inflation, which could affect the US central bank’s future policy path, and as the market priced in a possible easing in restriction measures due to the decline in the daily tally of local coronavirus cases. Demand for the term deposit […]
Yields on gov’t debt drop on steady May inflation
YIELDS ON government securities (GS) mostly declined last week following the release of May inflation data, which showed that the average rise in prices was steady for a third straight month. Bond yields, which move opposite to prices, edged down by an average of 3.08 basis points (bps) week on week, based on data from […]
Labella seeks additional P4.4 billion budget
THE Cebu City Council has started deliberations on Mayor Edgardo Labella’s proposed P4.4 billion first supplemental budget (SB1) for 2021. Councilor Raymond Alvin Garcia, budget and finance committee chairman, said the deliberations began on Thursday, June 3, 2021. The proposed budget will be presented to the City Council on June 9, Wednesday after changes suggested […]
GSIS loans hit P208-B, including P108-B for financial assistance
THE Government Service Insurance System (GSIS) said its loan disbursements have amounted to P208 billion since 2019, including P108 billion for loans to assist members who have run into difficulty during the public health crisis. In a statement Friday, the GSIS, the pension fund for current and retired civil servants, said the P108 billion was disbursed […]
Stocks drop as market corrects after sharp jump
PHILIPPINE shares went down on Thursday on as investors pocketed their gains from the recent rally and as the market corrected after its sharp increase on Wednesday. The Philippine Stock Exchange index (PSEi) declined by 49.82 points or 0.72% to close at 6,791.87 on Thursday, while the all shares index lost 13.96 points or 0.33% […]
Shares rise as House approves 3rd stimulus bill
PHILIPPINE shares closed higher on Wednesday on the House of Representatives’ approval of a third stimulus package amounting to more than P400 billion to help boost the economy amid the coronavirus pandemic. The bellwether Philippine Stock Exchange index (PSEi) improved 214.26 points or 3.23% to end at 6,841.69 on Wednesday, while broader all shares index […]
Philippine stocks drop as investors pocket gains
STOCKS fell on Monday as investors pocketed their gains following a four-day rally in the market last week. The Philippine Stock Exchange index (PSEi) declined by 46.02 points or 0.68% to close at 6,628.49 on Monday, while the all shares index went down by 24.65 points or 0.6% to end at 4,022.83. “Philippine shares closed […]
Stocks rally on stimulus hopes, MSCI rebalancing
PHILIPPINE shares rallied for a third straight day on Thursday as the possibility of the government approving another round of stimulus and the MSCI rebalancing boosted market sentiment. The 30-member Philippine Stock Exchange index (PSEi) gained 323.90 points or 5.1% to close at 6,665.14 on Thursday, while the all shares index also went up by […]
PSEi climbs on expected easing of restrictions
THE Philippine Stock Exchange index (PSEi) closed in the green on Wednesday on hopes of a further easing in current restrictions amid cases of coronavirus disease 2019 (COVID-19) in the country, with the country’s vaccination program also progressing. The benchmark PSEi went up by 144.53 points or 2.33% to close at 6,341.24 on Wednesday. The […]
Global recovery signs, lower US virus cases lift stocks
PHILIPPINE shares inched up on Tuesday despite cautious market sentiment as investors turned optimistic about global recovery after the United States reported lower cases of coronavirus disease 2019 (COVID-19). The benchmark Philippine Stock Exchange index (PSEi) climbed 31.82 points or 0.51% to close at 6,196.71 on Tuesday, while the all shares index gained 13.51 points […]
Stocks drop on lack of leads, fears of Fed tapering
THE MAIN INDEX declined on Monday due to a lack of catalysts and amid inflation concerns in the United States, which raised fears of a sooner-than-expected tapering by the US Federal Reserve. The Philippine Stock Exchange index (PSEi) declined by 34.36 points or 0.55% to close at 6,164.89 on Monday, while the all shares index […]
LANDBANK OK’s P20 billion in loans for firms affected by crisis
LAND BANK of the Philippines (LANDBANK) has approved P20.07 billion in loans for firms, micro, small and medium enterprises (MSMEs) and cooperatives affected by the coronavirus disease (COVID-19) pandemic as of April. The bank said in a statement that loans released through its I-RESCUE (Interim Rehabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19) lending […]
Rates of Treasury bills to move sideways on lack of fresh leads
RATES of the Treasury bills (T-bills) on offer on Monday will likely move sideways and track US yields amid the lack of fresh leads. The Bureau of the Treasury (BTr) is looking to raise P25 billion via its offer of Treasury bills (T-bills) on Monday, broken down into P5 billion from the 91-day securities, P8 […]
Alliance Global posts 13% income drop with pandemic restrictions
TAN-LED Alliance Global Group, Inc. (AGI) finished the first quarter with P2.6 billion in net income to owners, a 13% decline from P3 billion in the same period last year after renewed pandemic restrictions hit its businesses. “During the first two months of the year, most of our businesses have already rebounded, sustaining the momentum […]