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 […]
Tag: higher
RFM net income down 18.5% last year due to costlier commodities
HIGHER input costs pulled down RFM Corp.’s net income in 2022 by 18.5% to P1.06 billion, the listed food and beverage company disclosed on Thursday citing preliminary unaudited figures. In a press release, RFM Chief Executive Officer Jose Ma. A. Concepcion III said the lower income resulted from higher costs of wheat, milk and sugar […]
China New Higher Education Group Won Three Awards, Recognized for Outstanding Performance and Comprehensive Strength
EQS Newswire / 30/12/2022 / 15:00 UTC+8 China New Higher Education Group Won Three Awards, Recognized for Outstanding Performance and Comprehensive Strength (30 December 2022 – Hong Kong) China New Higher Education Group Limited (“China New Higher Education Group”, together with its subsidiaries, collectively referred to as the “Group”, stock code: 2001.HK) is […]
Nickel Asia posts 12% profit rise to nearly P7B
LISTED mining firm Nickel Asia Corp. posted a 12% increase in its nine-month attributable net income to P6.90 billion on the back of higher ore prices. In a stock exchange disclosure on Thursday, the mining firm said revenues increased by 2% to P21.51 billion from P21.03 billion due to favorable exchange rates and higher nickel […]
Stocks rise on remittance data, bargain hunting
LOCAL STOCKS closed higher on Monday following the release of data showing remittances rose in August and on continued bargain hunting. The benchmark Philippine Stock Exchange index (PSEi) went up by 65.58 points or 1.11% to close at 5,970.33 on Monday, while the broader all shares gained 20.89 points or 0.65% to end at 3,198.63. […]
Stocks inch up despite higher inflation in Sept.
PHILIPPINE STOCKS eked out gains on Wednesday despite the release of data showing inflation reached a new peak last month. The Philippine Stock Exchange index (PSEi) inched up by 0.87 point or 0.01% to close at 5,988.59 on Wednesday, while the broader all shares gained 9.50 points or 0.29% to end at 3,219.98. Philstocks Financial, […]
Party-list files petition for higher pay for teachers, non-teaching personnel
A PARTY-LIST group representing the education sector on Tuesday filed a petition at the House of Representatives seeking to upgrade the salary rate of teachers and non-teaching personnel. The petition, which was signed by around 57,000 teachers, was submitted to the House committee on Appropriations. ACT-Teachers Party-list Rep. France L. Castro said the petition is […]
Senate eyes higher budget for DoJ
SEVERAL senators on Tuesday backed a higher budget for the Department of Justice (DoJ) and its attached agencies, citing the need for more government prosecutors and better facilities. “I am in support of a higher budget for the Department of Justice since the agency serves an important purpose,” Senator Raffy T. Tulfo said in mixed […]
SWS: 2.9M Filipinos went hungry in Q2
FILIPINO families that went hungry in the last three months of the Duterte administration fell to 11.6% from 12.2% a year earlier, according to a poll by the Social Weather Stations (SWS). This was equivalent to 2.9 million people, the pollster said in a statement on Sunday. The hunger rate in June was 0.6 point […]
Shares up on bargain hunting, Wall Street’s rise
PHILIPPINE STOCKS closed higher on Thursday on bargain hunting as well as improved labor data, also tracking Wall Street’s rise overnight. The benchmark Philippine Stock Exchange index (PSEi) rose by 39.66 points or 0.6% to close at 6,593.74 on Thursday, while the broader all shares index went up by 15.13 points or 0.43% to 3,505.20. […]
T-bill bids rejected as market asks for higher rates
THE BUREAU of the Treasury (BTr) rejected all bids for its offer of Treasury bills (T-bills) as investors asked for higher yields as the US Federal Reserve chief said US rates could remain elevated for longer. The BTr did not award any T-bills on Tuesday even as tenders reached P17.289 billion, higher than the BTr’s […]
TDF yields climb on tepid demand, rate hike bets
YIELDS on term deposit climbed on Wednesday as the longer tenor on offer was undersubscribed, with the market awaiting the Bangko Sentral ng Pilipinas’ (BSP) policy meeting, where it is expected to raise rates anew. Total bids for the central bank’s term deposit facility (TDF) reached P290.814 billion, barely filling the P290-billion offer but below […]
Phinma income declines to P407M
Phinma Corp. registered an attributable net income of P406.83 million in the first half, lower by 7.8% than a year ago, amid higher costs caused by supply chain difficulties. The company’s topline grew by 10.4% to P8.63 billion while its costs rose by 18.2% to P1.04 billion. In a disclosure on Thursday, the company said […]
Revenue bills like digital services VAT lead House priorities
THE House of Representatives will prioritize revenue measures like a 12% value-added tax (VAT) on digital transactions as well as ease of paying taxes programs, a senior legislator said on Thursday. Albay Rep. Jose Ma. Clemente S. Salceda, who heads the House Ways and Means Committee, told BusinessWorld via Viber in reply to a query […]
BDO’s income climbs in Q2
BDO UNIBANK, Inc. posted a higher net profit in the second quarter on better net interest earnings and service charges, fees and commissions, as well as foreign exchange gains. The bank booked an attributable net income of P12.205 billion in the second quarter, up 10.64% from the P11.031 billion in the same period in 2021, […]
Thousands of educators, policymakers & technology leaders assemble to discuss the future of education in Indonesia
JAKARTA, July 26, 2022 – (ACN Newswire via SEAPRWire.com) – On 3-4 August 2022, EDUtech Indonesia will once again bring together the entire Indonesian education ecosystem to discuss new strategies, pedagogies, and innovations to bring inspiration in education to all. Over the two days, over 100 expert speakers from K-12 Schools and higher education institutions […]
US carriers’ cost struggle overshadows travel demand surge
CHICAGO — US carriers are struggling to offset higher costs even as booming travel demand has given them strong pricing power, raising questions about their ability to shield profit once consumer demand softens. Those worries are battering airline shares, taking the focus away from what is shaping up to be the industry’s strongest earnings season […]
Unemployment rate jumps to three-month high in May
By Ana Olivia A. Tirona, Researcher THE UNEMPLOYMENT RATE in the Philippines jumped to a three-month high in May while job quality deteriorated despite increased economic activity, data from the Philippine Statistics Authority (PSA) showed. Preliminary data from the statistics agency showed the jobless rate in May reached 6%, higher than 5.7% in April. However, […]
TDF yields rise on faster June inflation, hawkish BSP signals
YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposits climbed further on Wednesday following hawkish signals from the central bank chief and after June inflation hit a near four-year high in June. Demand for the term deposit facility (TDF) of the central bank totaled P479.514 billion on Wednesday, above the P300-billion offering as well […]
BTr fully awards reissued bonds at higher rates
THE GOVERNMENT fully awarded its offer of reissued seven-year Treasury bonds (T-bonds) on Tuesday at higher rates on expectations of a hawkish move from the Bangko Sentral ng Pilipinas (BSP) as June headline inflation was at a near four-year high. The Bureau of the Treasury (BTr) raised P35 billion as planned from its auction of […]