Brent futures add 1.6% on London’s ICE, above $45/barrel
MOSCOW – Brent oil futures with delivery in October 2020 gained 1.6 percent to USD45.14 a barrel on the London-based ICE on Wednesday.
Category: Business
Indonesia’s economy shrinks after over 20 years
JAKARTA – Indonesia’s economy contracted for the first time in more than two decades due to the impact of the coronavirus disease (Covid-19) pandemic, the country’s Central Bureau of Statistics (BPS) announced on Wednesday.
PH stocks index regains footing, peso ends flat vs. USD
MANILA – The Philippine Stock Exchange index (PSEi) ended Tuesday up after a two-day slide while the peso finished flat against the US dollar. PSEi gained 1.04 percent, or 59.58 points, to 5,775.50 points. All Shares rose by 0.84 percent, or 28.51 points, to 3,426.97 points. Mining and Oil led the sectoral indices with a jump … Read More
Peso sustains rally; stocks slip anew
MANILA – The peso sustained its rally against the US dollar Thursday but the main equities index declined anew as investors remain anxious on trade issues overseas amid the rise in coronavirus disease 2019 (Covid-19) cases. After posting its more than three-year high a day ago, the local currency finished the day’s trade stronger at … Read More
Oil prices to go up anew
MANILA – Oil companies will implement another price hike Today (Tuesday).
Stocks, peso start week down on Covid-19 second wave worries
MANILA – Both the local main stocks index and the peso ended weaker on Monday, partially on news of a spike in the number of coronavirus disease 2019 (Covid-19) in several countries.
May auto sales recover as quarantine measures eased
MANILA – The Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association (TMA) reported Monday that vehicle sales in May 2020 recovered as the enhanced community quarantine (ECQ) was lifted in some parts of the country.
Pangasinan BIR district offices open June 13 for tax filing
CALASIAO, Pangasinan – The Bureau of Internal Revenue (BIR) district office here and in other towns and cities in the province, will be open on Saturday to allow taxpayers to settle their income tax returns (ITR) and other levies before the June 15 deadline.
SM assures safety, sanitation in Pangasinan malls
DAGUPAN CITY – The management of SM has assured compliance with safety and sanitation protocols as it started operations of essential and non-leisure services in its malls in Pangasinan since the province was placed under general community quarantine on May 16
Lawmakers urged to pass stimulus proposals to boost PH economy
MANILA – The Bangko Sentral ng Pilipinas (BSP) said the sooner the proposed stimulus measures are approved, the better to further cushion the economic impact of the global pandemic. In an interview over ANC Monday, BSP Governor Benjamin Diokno said fiscal stimulus “works with a lag” just like monetary policy. “So the sooner those measures … Read More
Aviation giant Rolls-Royce to cut 9K jobs due to Covid-19
ISTANBUL – The UK-based aircraft engines producer Rolls-Royce plans to cut 9,000 jobs due to the fallout from the coronavirus disease 2019 (Covid-19) pandemic, it was announced Wednesday
SMC buys 69M kilos of corn to support farmers; boost food supply
MANILA – San Miguel Corporation (SMC) made good on an earlier commitment to protect farmers’ income and ensure the country’s stable food supply in the coming months with its purchase of 69 million kilos of corn to date from farmers nationwide, in coordination with the Department of Agriculture (DA). SMC president and chief operating officer Ramon … Read More
Experts warn of economic recession amid Covid-19, oil price dive
ANKARA – With the ever-growing impact of coronavirus on countries’ economic output and the latest duel between Saudi Arabia and Russia on oil production, experts are worried about global economic recession. The world economy seems to have stepped into a very cloudy March mostly because of the rapid spread of coronavirus in Europe and the United … Read More
PEZA partners with BLISTT for economic zone expansion
BAGUIO CITY – The Philippine Economic Zone Authority (PEZA) is asking the mayors of the municipalities adjacent here to help look for areas for possible economic zone expansions and the city to help provide the necessary manpower. “Lahat ng mga may lupa public or private iniimbitahan naming i apply nila to become an economic zone para ma-utilize at ma-spread natin ang mga industries (We are … Read More
PH T-bill rates down anew
MANILA — Rates of the Philippines treasury bills (T-bills) slid across-the-board Monday still on expectations of another cut in the Bangko Sentral ng Pilipinas’ (BSP) policy rates. Average rate of the 91-day paper declined to 3.003 percent from 3.072 percent during the auction last February 17. The Bureau of the Treasury (BTr) offered it for PHP6 … Read More
Covid-19 outbreak, China slowdown to hit Asean+3 economies
MANILA – The Asean+3 Macroeconomic Research Office (AMRO) expects the coronavirus outbreak that has slowed down the Chinese economy to also impact the gross domestic product (GDP) of the 10 member states of the Association of Southeast Asian Nations (Asean) and China, including Hong Kong, Japan, and South Korea, or the Asean+3. In its analytical … Read More