PHL posts ​1,101 COVID cases in the past week 

THE PHILIPPINES posted ​1,101 coronavirus infections in the past week, with the daily average 9% lower than a week earlier, according to the Department of Health (DoH). Of the new cases, ​two were severe and critical, it said in a bulletin on Monday.   The DoH said it had verified 98 more deaths from Feb ​6 […]

PHL ends 2022 with P13.42-T debt

By Luisa Maria Jacinta C. Jocson, Reporter THE NATIONAL Government’s outstanding debt stood at P13.42 trillion at the end of 2022, easing from the previous month’s record high and helped in part by the peso appreciation against the US dollar, the Bureau of the Treasury (BTr) said on Thursday. In a statement, the BTr said […]

Stocks decline on profit taking ahead of Q4 GDP

SHARES closed lower on Tuesday due to profit taking as investors await the release of the full-year 2022 gross domestic product (GDP) data this week. The benchmark Philippine Stock Exchange index (PSEi) went down by 28.18 points or 0.39% to close at 7,041.50 on Tuesday, while the broader all shares index lost 4.77 points or […]

PSE index declines ahead of US inflation report

STOCKS closed lower on Tuesday, mirroring Wall Street’s decline, ahead of the release of December US consumer inflation data, which could give clues on the US Federal Reserve’s next policy move. The benchmark Philippine Stock Exchange index (PSEi) lost 33.55 points or 0.49% to close at 6,756.69 on Tuesday, while the broader all shares index […]

November jobless rate falls to lowest since 2005

The Philippines’ unemployment rate dropped to its lowest level in over 17 years in November, as firms hired more workers ahead of the holiday season. Preliminary data from the Philippine Statistics Authority’s Labor Force Survey (LFS) released on Friday showed the unemployment rate further eased to 4.2% in November. This was lower than the 4.5% […]

Stocks inch lower ahead of key economic data

PHILIPPINE SHARES inched lower on Tuesday as investors await the results of the US midterm elections and the release of key local and foreign economic data this week. The benchmark Philippine Stock Exchange index (PSEi) declined by 6.48 points or 0.1% to finish at 6,289.10 on Tuesday, while the broader all shares index went down […]

Shares end lower on profit taking ahead of break

LOCAL SHARES ended in negative territory last week as investors booked gains ahead of the long weekend and on data showing more “hot money” left the country in September. The 30-member Philippine Stock Exchange index (PSEi) declined by 77.15 points or 1.23% to finish at 6,153.43 on Friday, while the broader all shares index went […]

Lower pork tariffs to be extended

THE MARCOS administration is planning to extend lower tariff rates on key commodities such as pork, corn, rice, and coal to next year, Finance Secretary Benjamin E. Diokno said, as the government seeks to curb rising food inflation. “[The] economic managers have repeatedly raised the needed measures to address food inflation. In the last Cabinet […]

Peso returns to P59:$1 level on weak data, Fed hike concerns

THE PESO retreated on Monday, returning to the P59-per-dollar level, as the Philippines’ reserves and foreign direct investments continued to decline and on expectations of continued monetary tightening by the US Federal Reserve following a strong US jobs report. The local unit closed at P59 versus the dollar on Monday, losing eight centavos from its […]

PSEi down to near 2-year low on Wall Street fall

STOCKS closed lower on Wednesday following Wall Street’s decline and the weak peso amid fears of a potential global recession. The benchmark Philippine Stock Exchange index (PSEi) lost 140.39 points or 2.33% to close at 5,879.68 on Wednesday, while the broader all shares index dropped by 68.59 points or 2.12% to 3,165.64. This is the […]

PSEi slips ahead of US consumer inflation report

STOCKS closed lower on Tuesday in thin trade ahead of the release of latest US consumer inflation data overnight that could affect the US Federal Reserve’s policy decision next week. The benchmark Philippine Stock Exchange index (PSEi) inched down by 13.94 points or 0.2% to close at 6,701.81 on Tuesday, while the broader all shares […]

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 […]

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 […]

D&L Industries’ income jumps 22% to P891M

D&L Industries, Inc. recorded a 22% increase in its net income to P851 million in the second quarter after booking higher sales due to eased mobility restrictions. “We are on track to at least hit if not exceed [our] pre-Covid high, which was in 2018,” D&L Industries President and Chief Executive Officer Alvin D. Lao […]

Chemical Industries’ net loss narrows to P2M

CHEMICAL Industries of the Philippines, Inc. registered a net loss of P2 million in the second quarter, seven times lower than the P14.71-million loss posted a year ago, on lower operating expenses. The company’s topline for the three months ending in June was at P633,113, almost three times lower than the last year’s P1.87 million […]

PH total debt slightly declines to P12.50 trillion in May

THE Philippine government’s total outstanding debt settled at P12.50 trillion as of the end of May, 2.1 percent lower compared to the previous month, the Bureau of Treasury (BTr) reported Friday.BTr said the decrease was due to the repayment of provisional advances from the central bank.Out of the total debt stock, 30.7 percent was sourced […]

Jobless rate eases in April

By Bernadette Therese M. Gadon, Researcher The unemployment rate in April slowed to its lowest since the start of the pandemic as the size of the workforce shrank amid the disruptions caused by the ongoing Russia-Ukraine conflict. Preliminary results of the Philippine Statistics Authority’s (PSA) April round of the Labor Force Survey (LFS) on Friday […]