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FISHERIES remained the most affected sector of agriculture, sustaining P3 billion worth of damage due to Typhoon Odette (international name: Rai), the Department of Agriculture (DA) said. The overall agricultural damage was P10.8 billion, affecting 356,486 farmers and fishermen over 399,531 hectares of agricultural land in the Visayas and Mindanao. The volume of lost production […]
Companies raised a record P234.48 billion at the stock exchange in 2021 to beat the previous high of P228.33 billion set In 2012, the Philippine Stock Exchange (PSE) said on Friday. “We are pleased that more companies chose to raise funds through the PSE. Their confidence in the stock market made it possible for us […]
PAL Holdings, Inc. has filed an application with the Securities and Exchange Commission (SEC) for a capital increase to P30 billion and an amendment to its articles of incorporation. The holding company of Philippine Airlines said in a stock exchange disclosure on Friday that it filed an application with the SEC on Dec. 29 to […]
Crop damage from Typhoon Rai has reached P9 billion covering 12 regions and more than 350,000 hectares of farmland, the Agriculture department said on Friday. Production losses hit 194,671 metric tons (MT), affecting 132,658 farmers and fisherfolk, it said in a statement. Fishery damage reached P3 billion or a third of the total, followed by rice at […]
THE ESTIMATE of damage to agriculture done by Typhoon Odette (international name: Rai) has risen to P8.4 billion, the Department of Agriculture (DA) said. The DA estimated the lost production at 175,720 metric tons, with 125,161 farmers and fishermen affected across 347,072 hectares. Fisheries accounted for P2.8 billion of the estimated losses, affecting over 50,029 […]
THE Budget department on Wednesday said it has released P7.68 billion to local governments and national agencies for their Typhoon Odette response and recovery efforts. The Department of Budget and Management (DBM) said in a statement that it released P4.85 billion to local government units on Tuesday to distribute as aid to constituents affected by […]
HEALTH MAINTENANCE organization (HMO) profits declined in the third quarter after a surge in claims outweighed revenue growth, according to the Insurance Commission. The HMO industry posted a 40.87% decline in overall net profit to P4 billion in the third quarter. “This substantial decrease in the total net income is driven by the 11.95% increase […]
PILIPINAS SHELL Petroleum Corp. (PSPC) made a first payment to the Bureau of Customs (BoC) of P1.7 billion under protest to cover disputed alkylate import taxes levied against it, the Department of Finance said. “BoC received P1.7 billion from Shell Phils. Balance due on Jan. 10,” Finance Secretary Carlos G. Dominguez III said in a […]
By Jenina P. Ibañez, Senior Reporter The budget deficit widened in November as health and public works agencies continue to ramp up spending amid the coronavirus pandemic, the Bureau of the Treasury (BTr) reported. Preliminary data from the BTr on Friday showed the fiscal gap stood at P128.7 billion in November, inching up 0.33% from […]
THE PHILIPPINE Crop Insurance Corp. (PCIC) said it is setting aside around P828 million for potential payouts to farmers and fisherfolk in storm-hit provinces. In a statement Thursday, the PCIC estimated the number of insured farmers and fisherfolk at around 79,217 in the provinces hit by typhoon Odette (international name: Odette), most of them from […]
STOCKS dropped on Monday as investors assess the damage caused by Typhoon Odette, which may affect economic growth, and amid the spread of the Omicron variant. The 30-member Philippine Stock Exchange index (PSEi) fell 60.05 points or 0.82% to close at 7,237.61 on Monday, while the broader all shares index went down by 23.21 points or 0.60% […]
Philippine shares sustained their gains on Friday after the central bank decided to maintain record-lows interest rates and due to the stock exchange’s plan to require companies to have stabilization funds. The Philippine Stock Exchange index (PSEi) rose 64.4 points or 0.89% on Friday to close at 7,297.66, while the broader all shares index went […]
THE GOVERNMENT fully awarded the Treasury bills (T-bills) it offered on Monday as rates declined ahead of central banks’ meetings this week. The Bureau of the Treasury raised P10 billion as planned via its offer of T-bills on Monday, with demand amounting to P52.758 billion or more than five times the amount on the auction […]
THE COUNTRY’S trade-in-goods deficit widened in October as merchandise import growth outpaced the growth in exports, the Philippine Statistics Authority (PSA) reported on Friday. Preliminary PSA data showed the value of merchandise exports grew by 2% to $6.41 billion. The October reading was a turnaround from the 0.9% drop in the same month last year, […]
The Philippine central bank on Friday raised P100 billion from its auction of 28-day bills, with rates rising after hawkish signals from the US Federal Reserve. The Bangko Sentral ng Pilipinas (BSP) fully awarded the short-term bills, with demand reaching P102.042 billion, lower than in the previous auction. Banks sought yields of 1.76% to 2.09% […]
THE GOVERNMENT made a full award of the Treasury bills (T-bills) it auctioned off on Monday as rates moved sideways, with investors expecting the US Federal Reserve to reduce its asset purchases faster. The Bureau of the Treasury (BTr) raised P10 billion as planned via the T-bills it auctioned off on Monday as total tenders […]
More short-term foreign investments fled the Philippines for a second straight month in October amid uncertainty in global markets and lingering concerns over inflation. Foreign portfolio investments (FPI) — commonly referred to as “hot money” due to the ease by which these flows enter or leave an economy — posted a net outflow of $221.11 […]
THE Japanese government has committed it will keep injecting official development assistance (ODA) to the Philippines, as it remains as a top source of concessional financing for priority programs. In a statement on Friday, the Japan International Cooperation Agency (Jica) said it injected 145 billion yen or almost P64 billion into projects implemented in the […]
ASIA UNITED Bank Corp. (AUB) registered a lower net profit in the third quarter due to a decline in its interest earnings and trading gains. The lender’s net earnings dropped by 31% year on year to P998 million in the three months to September from P1.456 billion, based on its financial report released on Wednesday. […]