DTI chief, biz group pay tribute to SyCip

MANILA — Trade Secretary Ramon Lopez paid homage on Monday to the late business leader Washington SyCip, who passed away on Saturday. Lopez recognized the contribution of SyCip in pursuing social development initiatives that benefitted many Filipinos. “We are saddened to hear of the passing of an inspiring Filipino icon, who has transcended beyond the business … Read More

Tenders for TDF rise on Wednesday

MANILA — Tenders for the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) rose substantially during Wednesday’s auction. Data released by the central bank showed tenders for seven-day TDF reached PHP53.545 billion, higher than the PHP40 billion offering and last week’s PHP27.785 billion. Bid coverage ratio of the shorter-dated TDF also rose to 1.3386 … Read More

PH, Japan affirm to fast-track implementation of infra projects

TOKYO — In line with their mutually approved “Fast and Sure” principle, top Philippine and Japanese officials agreed here Monday to further streamline their respective approval processes and introduce new measures to put in the fast lane the implementation of big-ticket infrastructure projects presented by Manila to Tokyo for possible financing. Finance Secretary Carlos Dominguez … Read More

PSEi, peso weaken Tuesday

MANILA — Risk aversion due to geopolitical concerns overseas, among others, continue to negatively affect Philippines’ equities market and the peso Tuesday. The Philippine Stock Exchange index (PSEi) shed anew and lost 0.91 percent, or 74.59 points, to 8,170.14 points. Most of the other indices tracked the main index, with the broader All Shares down … Read More

Peso keeps ground vs USD, PSEi down

MANILA — The Philippine peso closed Monday firm against the greenback but the main equities gauge finished in the red. The local currency ended the week’s first trading day at 50.71 from 50.725 Friday last week. It started the day better at 50.58 from 50.97 in the previous session. It traded between its closing level and … Read More

Chinese leader seeks wider BRICS coverage

XIAMEN CITY – Chinese President Xi Jinping has called for broader coverage of BRICS cooperation to increase its global influence and deliver more tangible benefits to the people of other emerging market and developing countries. Speaking at the opening of the BRICS Business Forum in Xiamen on Sunday, Xi said the BRICS will usher another golden … Read More