Renewed Houthi attacks in the Red Sea are seen aggravating oil price- and supply-driven inflation pressures in the Philippines stemming from the ongoing war in the Middle East. “While the direct effect of renewed strikes on shipping in the Red Sea on aggregate world trade is likely to be limited,...
The Philippine Stock Exchange index (PSEi) surged on Tuesday, March 31, as investors pounced on undervalued stocks following signs of easing geopolitical tensions in the Middle East and fortification of the nation’s fuel reserves. The benchmark PSEi jumped 79.45 points, or 1.35 percent, to finish...
The Philippine Stock Exchange (PSE) is getting smaller. In just three years, a “Great Exit” of major companies, from Metro Pacific Investments Corp. (MPIC) to Eagle Cement Corp., has pulled more than ₱580 billion out of the public market. This exodus is moving faster than the exchange can...
GT Capital Holdings Inc., the Ty family’s flagship investment firm, has infused ₱9.16 billion into its wholly owned property subsidiary Federal Land Inc. through the acquisition of a 20-percent stake in the unit’s joint venture (JV) with Nomura Real Estate Development Co. Ltd. (NRE). In a...
Central banks in emerging markets (EMs), including the Philippines, are seen hiking interest rates to temper weakening currencies and higher capital outflows, according to think tank Capital Economics. Shilan Shah, deputy chief EM economist at Capital Economics, said in a March 30 report that they...
The Philippine Stock Exchange index (PSEi) fell on Monday, March 30, as the conflict in the Middle East worsens despite efforts by the United States (US) to pursue a more diplomatic tack to break Iran’s blockade of the Strait of Hormuz. The main index plunged by 103.34 points, or 1.73 percent, to...
The China-led Asian Infrastructure Investment Bank (AIIB) has greenlit a $300-million loan supporting capital expenditures (capex) for the improvement and expansion of three local ports operated by tycoon Enrique K. Razon Jr. ’s International Container Terminal Services Inc. (ICTSI). The latest...
The Philippine Stock Exchange index (PSEi) was slightly lower on Friday, March 27, after the peso slid to a new low amid high oil prices fueled by the conflict in the Middle East. The main index shed 11.37 points, or 0.19 percent, to close at 5,972.83. Miners led the correction, while conglomerates...
The global oil shock triggered by escalating conflict in the Middle East is hitting the Philippines’ poorest households the hardest, as surging fuel costs spill over into food prices and erode purchasing power. A March 26 position paper by state-run policy think tank Philippine Institute for...
Benchmark stock index retreated on Thursday, March 26, slipping back below the 6,000 level as investors locked in gains from a two-day rally amid heightening geopolitical friction in the Middle East and domestic inflation concerns. The Philippine Stock Exchange index (PSEi) fell 59.97 points, or...
GT Capital Holdings Inc., the investment arm of the Ty family, is confident of weathering the current crisis spawned by the conflict in the Middle East. “With a strong balance sheet and a diversified portfolio, we are confident in our ability not only to withstand near-term headwinds but also to...
Local stocks surged back above the 6,000 threshold on Wednesday, March 25, as investor sentiment shifted toward optimism following reports that the United States (US) has entered formal negotiations with Iran. The prospect of a diplomatic resolution to Middle East tensions sparked a broad-based...
