HONG KONG, Feb 14, 2023 – (ACN Newswire via SEAPRWire.com) – Earlier this month, Apple Inc. (AAPL) released earnings for first quarter that decreased from the same period last year and missed Wall Street expectations driven by a combination of a stronger US dollar, global economic malaise, and more strife at its China factories. The […]
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Apple reports 2023Q1 results, Cook says supply problems has resolved
HONG KONG, Feb 14, 2023 – (ACN Newswire via SEAPRWire.com) – Earlier this month, Apple Inc. (AAPL) released earnings for first quarter that decreased from the same period last year and missed Wall Street expectations driven by a combination of a stronger US dollar, global economic malaise, and more strife at its China factories. The […]
Honda: Production, Sales and Export Results for December, 2022
TOKYO, Jan 31, 2023 – (JCN Newswire via SEAPRWire.com) – Honda Motor Co., Ltd. today announced a summary of automobile production, Japan domestic sales, and export results for the month of December 2022. World Production Calendar Year of 2022– Production in Japan: 1st YOY increase in 4 years– Production outside Japan: 4th consecutive year of […]
DOLE 7 to employers: Submit 13th month pay compliance report
EMPLOYERS are reminded to submit their 13th month pay compliance report to the Department of Labor and Employment (DOLE) not later than Jan. 15. DOLE 7 OIC Director Lilia Estillore on Tuesday said every covered employer shall make a report of their compliance through the DOLE Establishment Report System that should conform substantially with the […]
BSP sees Dec. inflation up to 8.6%
HEADLINE INFLATION likely settled within the 7.8% to 8.6% range in December due to higher electricity rates and rising food prices, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. “Upward price pressures for the month are expected to emanate from higher electricity rates, uptick in the prices of agricultural commodities, elevated meat and fish […]
Senate bill granting 13th month pay to all government workers filed
A SENATOR has filed a bill that will grant 13th month pay to all government employees, including those under the contract-of-service scheme or job order arrangement. “Their work is as heavy as the work of the regulars,” Senator Ramon B. Revilla, Jr., who chairs the Senate Committee on Civil Service, Government Reorganization and Professional Regulation, […]
Manhattan apartment rents inch up after 3 months of decline
MANHATTAN apartment rents climbed slightly in November after three months of declines. But the market isn’t returning to the hypercompetitive heights of the summer. The median rent rose 2.1% from October to $4,095, the third-highest level ever recorded by appraiser Miller Samuel, Inc. and brokerage Douglas Elliman Real Estate. Yet there were also indications that […]
Spot market power prices decline in early November
THE Independent Electricity Market Operator of the Philippines (IEMOP) said electricity spot market prices in early November declined by P1.14 per kilowatt-hour (kWh) to an average of P8.08 per kWh, from P9.22 in October. Christian Karla A. Rica, IEMOP knowledge management specialist, said in a virtual briefing on Wednesday that supply levels trended upward in […]
Customs exceeds Oct. target
THE BUREAU of Customs (BoC) said Wednesday that it exceeded its collection target for a tenth straight month in October. In a statement, the BoC reported collections of P75.5 billion in October, exceeding its target for the month by 18.6%. Year on year, October collections were up 35%. In the 10 months to October, collections […]
PSEi rises in Oct. as month-end rally lifts market
PHILIPPINE SHARES rose month on month in October despite being in the 5,000 level in its first two weeks amid worries over the US central bank’s tightening path, rebounding from a decline in September. The Philippine Stock Exchange index (PSEi) closed at 6,153.43 on Oct. 28, the last trading day of October, up by 7.18% […]
‘Hot money’ outflows hit 17-month high
“Hot money” outflows hit a 17-month high in September, the central bank said. — REUTERS THE PHILIPPINES saw the biggest net outflow of short-term foreign investments in 17 months in September, reflecting the impact of the US Federal Reserve’s aggressive monetary tightening. Data from the Bangko Sentral ng Pilipinas (BSP) showed transactions on foreign investments […]
Peso may weaken on Fed hike bets
THE PESO may weaken further this week as faster-than-expected September US consumer inflation fueled market expectations of another big rate hike from the US Federal Reserve next month. The local unit closed at P58.935 per dollar on Friday, gaining 6.5 centavos from its P59 finish on Thursday, based on Bankers Association of the Philippines data. […]
Peso slips as OPEC cuts output
THE PESO inched down on Thursday as the Organization of the Petroleum Exporting Countries agreed to cut output to support oil prices. — BW FILE PHOTO THE PESO slipped versus the dollar on Thursday after oil exporting countries announced an output cut, fanning inflation concerns. The local unit closed at P58.653 against the greenback on […]
Senator asks Labor dep’t to partner with LGUs to penalize firms violating 13th month pay law
A SENATOR has asked the Department of Labor and Employment (DoLE) to partner with local governments to be able to penalize companies that fail to release the mandatory 13th month pay of workers. Under Senator Raffy T. Tulfo’s proposal, local government units (LGUs) will get authority to withhold the annual business permit renewal of a […]
Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, September 2022
THE PHILIPPINES’ manufacturing sector expanded for an eighth month in a row in September, as better demand led to growth in output and new orders, S&P Global said on Monday. Read the full story.
Peso ends at P57:$1 on oil output cut
THE PESO slipped to a new record low versus the dollar on Tuesday on renewed global inflation concerns after petroleum exporting countries said they would cut oil production. The local unit closed at a fresh all-time low of P57 per dollar on Tuesday, inching down by less than a centavo from its P56.999 finish on […]
PHL stocks rebound as inflation eases in August
STOCKS climbed on Tuesday as August inflation came in better than expected, which could indicate that prices are moderating. The bellwether Philippine Stock Exchange index (PSEi) went up by 33.56 points or 0.50% to close at 6,709.60 on Tuesday, while the broader all shares index rose by 9.24 points or 0.26% to 3,550.95. “Philippine shares […]
Manufacturing activity improves in August
By Diego Gabriel C. Robles THE PHILIPPINES’ manufacturing sector continued to expand for a seventh straight month in August, as production stabilized with a softer contraction in new orders, S&P Global said on Thursday. The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) reading stood at 51.2 in August, improving from the six-month low of […]
PSEi posts strong gains on improved sentiment
THE LOCAL BOURSE posted robust gains in August on improved sentiment amid increased certainty about the economic priorities of the current administration and as listed firms posted strong second-quarter results. The Philippine Stock Exchange index (PSEi) has gone up by 436.57 points or 6.9% so far this month to end at 6,752.50 on Aug. 26 […]
Food prices fell again in July, UN agency says
LONDON — The United Nations (UN) food agency’s world price index declined again in July, edging further away from record highs hit in March. The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded food commodities, averaged 140.9 points last month versus a revised 154.3 for June. The June figure […]