Category: TopNews

Forex reserves rise to nearly P110B in 2020

The country’s gross international reserves (GIR) reached a record $109.79 billion at the end of 2020 on inflows from the central bank’s operations and state borrowings. Preliminary Bangko Sentral ng Pilipinas (BSP) data showed on Friday that the amount was a 4.75-percent and 24.99-percent increase from figures a month and a year earlier, respectively. It […]

Private sector groups push for Create enactment

Fifty-one private sector groups are calling for the swift passage of the proposed Corporate Recovery and Tax Incentives for Enterprises (Create) Act this year. In a statement on Friday, members of some of the largest and most widely-represented private sector groups in the country, reiterated “their strongest and unequivocal support” for the immediate enactment of […]

PSEi slips on poor economic data

Bleak economic data dampened investors sentiment, which sent the local bourse back in the negative territory on Friday. The bellwether Philippine Stock Exchange index (PSEi) slipped 0.48 percent or 34.69 points to its intraday low of 7,238.46, while the broader All Shares dipped 0.19 percent or 8.46 points to close at 4,342.48. Philstocks Financial Inc. […]

BSP ready to lend govt P280B for Covid response

The Bangko Sentral ng Pilipinas (BSP) is ready to lend more money to the government that can be used for its coronavirus pandemic response. Bangko Sentral ng Pilipinas Gov. Benjamin Diokno. PHOTO BY J. GERARD SEGUIA In a virtual briefing on Thursday, BSP Governor Benjamin Diokno announced that the government can borrow as much as […]

Stock index seen to hit 7,800-8,100 in 2021

The Philippine Stock Exchange index (PSEi) is projected to reach the 7,800-to-8,100 territory by the end of 2021, according to First Metro Investment Corp. (FMIC). In a virtual briefing on Thursday, FMIC First Vice President and Research Department Head Cristina Ulang said her company made the “very bullish and constructive” forecast on the back of […]

Subsidies not key to econ rebound

Reopening the economy further as safely as possible, not providing subsidies, is needed to help the Philippines recover from the Covid-19 pandemic, according to the National Economic and Development Authority (NEDA). Karl Kendrick Chua In a forum organized by the Financial Executives Institute of the Philippines on Thursday, Acting NEDA Director General Karl Kendrick Chua […]

JPMorgan sees 42% jump in profits

CHARLOTTE, North Carolina: JPMorgan Chase & Co., the nation’s largest bank by assets, said its fourth quarter profits jumped by 42 percent from a year earlier, as the firm’s investment banking division had a stellar quarter and its balance sheet improved despite the pandemic. The New York-based bank said it earned a profit of $12.14 […]

Galvez: No favorites in choosing vaccines

The man in charge of the country’s Covid-19 vaccination program on Friday said only the vaccines approved by a panel of experts will be procured by the government. Presidential peace adviser Carlito Galvez Jr. File Photo Appearing at the Senate hearing that is assessing the government’s immunization strategy, Secretary Carlito Galvez Jr., the chief implementer […]

DA sets P400M to aid local hog industry

The Department of Agriculture (DA) will roll out P400 million for the repopulation of hogs as a response to the impact of the African swine fever (ASF). In a virtual briefing on Thursday, Reildrin Morales, executive director of the DA’s National Meat Inspection Service, said under the program dubbed as the Integrated National Swine Production […]

Travel ban for Covid variant extended, expanded

The government has extended until January 31 the ban on travelers from more than 30 countries with cases of new variants of the coronavirus disease 2019 (Covid-19). The extension was approved by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID), Palace spokesman Harry Roque Jr. said in a statement on Friday. […]

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