THE free trade agreement (FTA) between the Philippines and European Free Trade Association (Efta) member states—Switzerland, Norway, Liechtenstein and Iceland has been working well with no critical implementation issues since the FTA’s implementation five years ago. Both are currently enjoying preferential utilization rates of 31 percent for the Philippines and 30 percent for Efta member […]
Tag: market
Mindanao-Visayas grid linked by March
THE PHILIPPINES seeks to finish a project connecting the electricity grids in the central and southern parts of the country by March, President Ferdinand R. Marcos, Jr. said on Monday. He made the statement at the launch of the Wholesale Electricity Spot Market (WESM) in Mindanao that the government expects to spur investments especially in […]
Asian stocks pull back, dollar regains footing ahead of US payrolls data
By Stella Qiu SYDNEY – Asian shares turned lower and the dollar regained some of its footing on Friday, as disappointing earnings from US tech giants undermined sentiment ahead of a key US non-farm payrolls report. Overnight, markets sensed the end of the massive global tightening cycle, after policymakers in Britain and Europe signaled their […]
Editorial: Don’t bring back Colon Night Market, close Chibogan sa B. Rod
Streets are for vehicles. Closing them to traffic for a certain period of time to allow merchants to ply their trade is a mind-boggling move because they are designed for vehicles. Engineers at the Department of Public Works and Highways do not construct roads and bridges because they love ambulant vendors. Colon Street in Cebu […]
PHL pet food demand seen rising to $434M
PET FOOD demand in the Philippines is expected to rise 9% in 2023 in line with growing pet ownership, the US Department of Agriculture (USDA) said. The USDA’s Foreign Agricultural Service (FAS) in Manila projected the Philippine pet food market at $434 million this year in its Global Agricultural Information Network report. “As pets became […]
Traffic in Colon Street to improve as night market ‘takes a break’
MOTORISTS can now experience an improved traffic flow in Cebu City’s downtown area after the Colon Night Market has ceased its operations. But this might not last long as organizers of the night market have assured the public that the country’s oldest street will once again bustle with food and people in the coming months. […]
Stocks may drop ahead of US central bank meet
PHILIPPINE SHARES may go down ahead of the US Federal Reserve’s policy review and due to profit taking as investors wait for more leads. The bellwether Philippine Stock Exchange index (PSEi) went up by points or 0.13% to close at 7,052.16 on Friday, while the broader all shares index added 4.74 points or 0.12% to […]
Report cites overcrowded Philippine oil market
PHILIPPINE DEMAND for oil would probably grow at an average 3.4% between 2022 and 2031, according to Fitch Solutions Country Risk and Industry Research, citing the country’s overcrowded market. “Net imports are anticipated to grow at around 3.5%, more or less closely in line with demand growth,” it said in a report dated Jan. 25. […]
Councilor eyes ‘Singapore-like’ Cebu City public markets
“SINGAPORE-LIKE” public markets are being pushed by Councilor Renato “Junjun” Osmeña in Cebu City’s bid to revitalize trade and commerce. Osmeña inspected five public markets in the city Thursday, Jan. 26, 2023, and had a dialogue with the administrators and vendors to determine how the City Government can fast-track the development of public markets. Among […]
ADB approves PHL loan worth $500M to spur job recovery
THE Asian Development Bank (ADB) has approved a $500 million for the Philippines to aid in the government’s efforts to effect a recovery in employment. “With the economy slowly moving towards a sustainable growth path, it is important to ensure private enterprises are supported with policies that make it easier for them to do business […]
PSEi to stay at 7,000 level ahead of GDP report
THE MAIN INDEX may move sideways this week and remain at the 7,000 level as investors await the release of full-year 2022 gross domestic product (GDP) data and corporate earnings. The 30-member Philippine Stock Exchange index (PSEi) went down by 5.39 points or 0.07% to close at 7,056.52 on Friday, while the broader all shares […]
Government generates P681M in procurement savings
THE GOVERNMENT generated savings of P681.2 million from procurement efficiencies in 2022, up 21.8% from a year earlier, the Department of Budget and Management (DBM) said. “For the past three years, the government has attained significant cost savings through bulk procurement and market price monitoring and validation,” the DBM said in a statement on Tuesday. […]
ShineGlobal Social Networking Market Report 2022: ByteDance, Match Group, Newborn Town & More Lead Industry Trends
HONG KONG, Jan 17, 2023 – (ACN Newswire via SEAPRWire.com) – Social networking establishes the connection and interaction between people. Entering the Internet era, social networking products bring everyone closer to each other. For Internet companies, social networking products are closest to people and can build an infinite commercialization derivative space based on the relationship […]
Impro: Share price of U.S. peer up nearly 300% in three years. Impro issues positive profit alert with extremely low comparable valuation
HONG KONG, Jan 16, 2023 – (ACN Newswire via SEAPRWire.com) – The latest macro data published by the U.S. is not ideal. The market expects the Fed will continue to raise interest rates through to the end of 2023. By then, the federal funds rate may reach 4.9% and the higher interest rate level will […]
Asian beauty market benefits from post-pandemic recovery
ASIA’S beauty market started its recovery in 2022 with the reopening of the economy, benefitting from the desire of people to go out again and celebrate after a harrowing two years of pandemic-induced restrictions, according to Kantar. “In most markets, beauty benefits from the desire of consumers to treat themselves, even in hard times. Often […]
PHL data center prospects deemed promising due to digitalization push
THE PHILIPPINES is viewed as a promising market for data centers due to its digitalization efforts and surging use of e-commerce, according to firms providing real estate and legal services to potential locators. Monica Gonzales, lead data center officer for real estate consultancy Santos Knight Frank, said in a recent forum organized by the European […]
Qs7: What happens after Cebu City Council’s approval of Mayor Mike Rama’s increase of real estate taxes. Business taxes spared for now but will come next. Kons Noel Wenceslao, budget and finance head, defends move anew, conceding it’s ‘unpopular but necessary.’
BEFORE the year ended on December 30, 2022, the Cebu City Sanggunian approved an increase of real estate taxes, which Mayor Michael Rama’s administration plans to fund much of its P50 billion budget for 2023. Councilor Mary Ann de los Santos had pleaded for people who own small parcels of land and are barely surviving […]
PHL shares may move sideways ahead of US CPI
LOCAL SHARES are expected to move sideways this week ahead of the release of US consumer price index (CPI) data, which could solidify expectations of more US Federal Reserve rate hikes this year. The bellwether Philippine Stock Exchange index (PSEi) went down by 93.36 points to close at 6,667.97 on Friday, while the broader all […]
Unemployed Pinoys drop to 2.18M as employment grows to 49.7M
THE Philippines’ unemployment rate dropped to 4.2 percent or 2.18 million in November 2022, the lowest since April 2005, the government reported Friday. The rate was down from 6.5 percent in the same period in 2021. Accordingly, the employment rate increased to 95.8 percent or an additional 4.2 million employed persons. This brings the total […]
Stocks rise on slower-than-expected inflation
STOCKS continued to rally on Thursday as December inflation came in below market expectations despite picking up from the November level. The 30-member Philippine Stock Exchange index (PSEi) went up by 42.83 points or 0.63% to close at 6,761.33 on Thursday, while the broader all shares index added 13.38 points or 0.37% to end at […]