GROWTH in wholesale prices of general goods slowed in October, according to preliminary data from the Philippine Statistics Authority (PSA). The general wholesale price index (GWPI) rose 7.6% year on year, against 8.2% growth posted in September and 3.9% a year earlier. The October reading was the lowest since the 5.6% recorded in February 2022 […]
Tag: september
FCDU loans inch down as of Sept. due to tighter lending standards
OUTSTANDING LOANS granted by the foreign currency deposit units (FCDU) of banks inched down at end-September from the quarter prior amid eased credit parameters and tightening of lending standards, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. Loans granted by the FCDU of banks went down by 0.29% to $15.665 billion as of September […]
2023 bar exams set for September
THE SUPREME Court (SC) on Thursday confirmed that next year’s bar examinations will be held in September, earlier than the usual November schedule, which would allow for an earlier release of results. In a bulletin, the tribunal said the test for aspiring lawyers will be held on Sept. 17, 20 and 24. “The 2023 bar […]
Tat Hong Equipment Service Co., Ltd. Announces 2022/23 Interim Results
HONG KONG, Nov 25, 2022 – (ACN Newswire via SEAPRWire.com) – Tat Hong Equipment Service Co., Ltd. (“Tat Hong” or the “Company”, together with its subsidiaries, the “Group”) (Stock Code: 2153), the first foreign-owned tower crane service provider established in the PRC, has announced its interim results for the six months ended 30 September 2022 […]
Samaiden Posts 71.82% Revenue Increase in 1Q FY2023
PETALING JAYA, Malaysia, Nov 16, 2022 – (ACN Newswire via SEAPRWire.com) – Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants today announced that for the first quarter ended 30 September 2022 (1Q FY2023), revenue grew 71.82% to RM40.77 […]
Society Pass Inc (Nasdaq: SOPA) Reports Breakout 9 Month 2022 and 3Q 2022 Financial Results
SINGAPORE, Nov 15, 2022 – (ACN Newswire via SEAPRWire.com) – Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), SEA’s leading data-driven loyalty, fintech and e-commerce ecosystem, today announces a filing of its 3Q 2022 Form 10-Q with the Securities and Exchange Commission. Please see filing here. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001817511/000160706222000677/sopa093022form10q.htm Summary Points:– Nine months 2022 unaudited revenues grew 2,870% year […]
Marcos vows to boost quality of jobs as Filipinos seek more work
PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday vowed to boost the quality of jobs in the Philippines, after underemployment continued to worsen in September at 15.4%. The president vowed to improve job quality “to address underemployment while bolstering job opportunities in the country,” the presidential palace said in a statement. “Ever since we started with […]
PHL banks’ net earnings climb 43% at end-Sept.
THE NET EARNINGS of the banking industry climbed by 43% as of September, driven by higher trading gains and interest income, according to central bank data. Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed banks’ cumulative net income rose to P243.066 billion in the January to September period from P169.089 billion last year. […]
PBB posts higher net profit
PHILIPPINE Business Bank (PBB) saw a 15.2% increase in its net income in the first nine months on the back of a higher core income and an expansion in its loan portfolio. The lender’s net income climbed to P926.6 million in the nine months ended September from the P804.3 million posted in the same period […]
Unemployment rate drops to 5%; 2.5M jobless Filipinos in September
THE unemployment rate in the country has significantly declined to five percent in September this year from 8.9 percent in the same period last year. This translates to 2.5 million jobless Filipinos in September, the Philippine Statistics Authority reported on Tuesday, Nov. 8, 2022. Employment rate, on the other hand, was estimated at 95 percent […]
PSBank posts higher net income in first 9 months
PHILIPPINE Savings Bank (PSBank) saw its net profit climb by 126% in the first nine months of the year, driven by improved loan quality and higher revenues. The thrift banking arm of the Metrobank Group booked a net profit of P2.85 billion in the nine months ended September, surging from the P1.26 billion posted in […]
How much does each commodity group contribute to October inflation?
Headline inflation picked up to 7.7% in October from 6.9% in September and 4% in October 2021, reaching a 14-year high since the 7.8% reading in December 2008 during the global financial crisis. This is near the high end of the Bangko Sentral ng Pilipinas’ 7.1-7.9% forecast range for that month, and marked the seventh […]
Sept. trade deficit narrows to $4.8 billion
The country’s balance of trade deficit narrowed in September after imports growth slowed to a 19-month low while exports ended its two-month slump, the Philippine Statistics Authority (PSA) reported on Friday. The total import bill reached $11.978 billion in September, up 14.1% year on year, preliminary data from the PSA showed. However, this was lower […]
‘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 […]
PSE index declines on profit taking, BoP data
STOCKS dropped on Thursday on profit taking and fears that the country’s wider balance of payments (BoP) deficit may cause the peso to weaken further versus the dollar. The benchmark Philippine Stock Exchange index (PSEi) declined by 92.32 points or 1.5% to finish at 6,055.99 on Thursday, while the broader all shares index went down […]
Peso sinks vs dollar as country’s BoP deficit hits four-year high in Sept.
THE PESO ended weaker versus the dollar on Wednesday as the country posted a four-year high balance of payments (BoP) deficit in September and amid hawkish signals from a US Federal Reserve official. The local unit closed at P58.945 against the dollar on Wednesday, down by 19.5 centavos from P58.75 on Tuesday, data from the […]
Peso weakens to P59:$1 level on hawkish Fed meet minutes
THE PESO closed at its record low for the third time this month as the minutes of the US central bank’s September meeting showed policy makers want to continue raising rates. — BW FILE PHOTO THE PESO retreated versus the greenback on Thursday following the release of the minutes of the US Federal Reserve’s September […]
PHL stocks track Wall St.’s drop on recession fears
PHILIPPINE STOCKS closed lower on Monday to track Wall Street’s decline as latest US jobs data fanned expectations of another aggressive rate hike from the US Federal Reserve next month that could push the world’s largest economy into recession. The benchmark Philippine Stock Exchange index (PSEi) declined by 99.61 points or 1.67% to close at […]
PHL inflation still manageable — ECoP
THE 6.9% inflation rate in September remains “manageable” and is expected to normalize, the Employers Confederation of the Philippines (ECoP) said on Thursday. Sergio R. Ortiz-Luis, Jr., ECoP president, said on the BusinessWorld Live program on One News Channel that he considers 8% the threshold for manageable inflation. The Philippine Statistics Authority reported on Wednesday […]
Peso closes unchanged vs dollar
THE PESO was steady versus the greenback on Wednesday as the September inflation print remained in line with market expectations. The local unit closed at P58.65 per dollar on Wednesday, unchanged from its Tuesday finish, Bankers Association of the Philippines data showed. The peso opened Wednesday’s session stronger at P58.60 versus the dollar. Its weakest […]