PHILIPPINE STAR/ MICHAEL VARCAS THE year-on-year growth in wholesale prices of general goods slowed in April compared to the rate recorded in March, the Philippine Statistics Authority (PSA) said Wednesday. The general wholesale price index (GWPI) rose 2.7% year on year in April, against the 2.8% pickup in March, according to preliminary data. Driving the […]
NEW DELHI — India, the world’s top importer of vegetable oil, will have to spend billions of extra dollars this year to buy more costly cooking oil from overseas and is mulling cutting taxes on those imports to soften the blow to the economy, industry officials have said. The government is considering reducing taxes on […]
THE PESO declined versus the dollar on Wednesday due to higher oil prices and as the market waited for the US central bank’s policy decision. — BW FILE PHOTO THE PESO retreated versus the greenback for the third straight day due to higher oil prices and as the market was waiting for the policy decision […]
LEPANTO Consolidated Mining Co. reduced its attributable net loss to P63.11 million in the first quarter after metal prices improved during the period, the listed mining company told the stock exchange on Wednesday. Its losses during the January-to-March period were 70.6% lower than the P214.35-million attributable net loss it had last year. Consolidated revenues fell […]
THE PESO declined against the dollar on Wednesday as oil prices edged higher even as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) said it would hike output. The local unit closed at P47.82 versus the dollar on Wednesday, down by six centavos from Tuesday’s finish of P47.76, data from the Bankers […]
SHAH ALAM, Malaysia, May 28, 2021 – (ACN Newswire via SEAPRWire.com) – Leon Fuat Berhad (“Leon Fuat”), a manufacturer and trader of steel products, specialising in rolled long and flat products, today announced that the Group recorded a 3,297.0% rise in profit after tax (“PAT”) to RM36.11 million for the quarter ended 31 March 2021 […]
Manila Electric Co. (Meralco) customers are likely to see a rise in their electric power bills in June, following a surge in spot market prices, an official from the firm said on Friday. “Based on early, initial projections, there may be an upward pressure on the generation charge for the month of June 2021 due to observed […]
THE Bangko Sentral ng Pilipinas (BSP) said it is monitoring the markets for any possible second-round effects resulting from rising oil prices, particularly their impact on inflation, though it called such an eventuality unlikely in the near term. The Monetary Board of the central bank has taken into account the effect of higher oil prices […]
THE PESO continued to weaken for a fifth straight trading day against the greenback on Tuesday amid rising global crude oil prices. The local unit closed at P48.135 versus the dollar on Tuesday, dropping by 7 centavos from Monday’s finish of P48.065, data from the Bankers Association of the Philippines’ website showed. This was the […]
The Bangko Sentral ng Pilipinas (BSP) said inflation likely breached the upper-end of its annual target for a fourth straight month in April due to higher electricity rates and food prices. Inflation during the month likely reached between 4.2% to 5%, BSP Governor Benjamin E. Diokno told reporters in a Viber message. This is above […]
THE PESO weakened against the dollar on Wednesday as oil prices went up. — BW FILE PHOTO THE PESO retreated against the greenback on Wednesday as oil prices edged higher and as the market was waiting for the US Federal Reserve’s policy decision. The local unit closed at P48.477 per dollar, depreciating by 9.6 centavos […]
THE SUPPLY and prices of fish sold in the so-called “NCR plus” quarantine area, consisting of the National Capital Region and Cavite, Laguna, Rizal, and Bulacan provinces, have stabilized, the Department of Agriculture (DA) said. Agriculture Secretary William D. Dar said in a statement Tuesday that the normalization of the fish market coincides with the […]
THE prices of chicken and pork in Carbon Public Market are now back to their regular prices, according to the Cebu City Market Operations Division. Cebu City Market Administrator Irvin Cabales said prices of different cuts of pork now range from P160 to P200 per kilo. As of April 14, 2021, a kilo of pork […]
THE central bank continues to see inflation breaching the target range in March, as oil prices rose and the peso weakened against the US dollar. Headline inflation during the month likely settled within 4.2% to 5%, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said in a Viber message to reporters. This is still […]
A view of residential condominium buildings in Mandaluyong, Metro Manila, Aug. 22, 2016. — REUTERS By Luz Wendy T. Noble, Reporter PHILIPPINE BANKS are still facing risks from a prolonged weakness in the property market, Fitch Ratings said. “Fitch remains watchful of any signs of an undue rise in banks’ risk appetite when the economy recovers, […]
Home prices rebounded in the past quarter, driven by faster increases in residential real estate outside Metro Manila as more families considered building houses outside the city during a coronavirus lockdown, according to the central bank. In a report released on Friday, the Bangko Sentral ng Pilipinas (BSP) said the Residential Real Estate Price Index […]
A LEGISLATOR called on the Philippine Competition Commission (PCC) on Wednesday to investigate possible market manipulation in pork imports, resulting in high prices. In a briefing Wednesday, Marikina City Representative Stella Luz A. Quimbo said rising pork prices may not be solely due to supply disruptions as a result of African Swine Fever but also […]
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday said policy makers are not inclined to tighten monetary policy yet as they see the uptick in inflation as “temporary,” with pressures coming from the supply side. “Notwithstanding the impact of supply-side factors on the inflation path, we are not inclined to tighten monetary […]
AN INCREASE of more than P1 per liter in gasoline pump prices will greet motorists on Tuesday, Feb. 23, 2021, to “reflect movements in the international oil market.” Described by business leaders in Cebu as a setback to economic recovery from the effects of the coronavirus disease 2019 (Covid-19) pandemic, this latest increase is the […]
DEMAND FOR Philippine nickel ore will remain high in China if Indonesia maintains its nickel export ban, industry officials said Monday. “As long as Indonesia keeps its nickel export ban, demand for Philippine nickel ore from China’s NPI (nickel pig iron) plants will remain strong,” Chamber of Mines of the Philippines (COMP) Vice-President for Communications […]