The Philippine Stock Exchange index (PSEi) dropped on Monday, Aug. 11, as investors sold off stocks due to a lack of fresh market-moving developments. The main index fell by 85.02 points, or 1.34 percent, to close at 6,254.36. Banks led the retreat, with only the Services counter managing to hold...
Lopez-led Energy Development Corp. (EDC) is planning to invest ₱13 billion to expand its geothermal energy portfolio as part of its ongoing efforts to scale up renewable energy capacity. In an interview with EDC President and Chief Operating Officer Jerome Cainglet, he explained that the company...
Tempered household consumption, still reeling from the pandemic-induced recession, is weighing on the Philippine growth outlook, according to the Economist Intelligence Unit (EIU). With private consumption—which accounts for more than 70 percent of the local economy—showing “weak momentum,”...
The Siargao Airport expansion, launched on Friday, Aug. 8, marks a key step in transforming the island into a world-class gateway, the Department of Tourism (DOT) said. Tourism growth, according to DOT Secretary Christina Garcia-Frasco, requires not only natural attractions but also strong...
Filinvest Development Corp., one of the Philippines’ leading diversified conglomerates, successfully raised ₱8 billion from its oversubscribed maiden preferred shares offering. “The Series A Preferred Shares and the Series B Preferred Shares were publicly offered from July 21 to July 31,...
The Philippine Stock Exchange index (PSEi) dipped despite the slightly higher gross domestic product for the second quarter, as sentiment was affected after Trump said tariffs would be slapped on semiconductor imports. The main index shed 5.96 points or 0.09 percent to close at 6,364.69 on...
As air travel continues to soar in Southeast Asia, public-private partnerships (PPPs) are expected to bolster the region’s aviation sector to meet the growing demand sustainably, according to the Tokyo-based think tank Asian Development Bank Institute (ADBI). In a policy brief, ADBI said that the...
The Philippine Stock Exchange index (PSEi) registered an increase on Wednesday, Aug. 6, fueled by optimism that the Bangko Sentral ng Pilipinas (BSP) will cut key interest rates and support the peso. The main index gained 17.02 points, or 0.27 percent, to close at 6,370.65. Sectoral indices were...
Coupled with an increase in unpaid workers, the number of jobless Filipinos swelled by more than 300,000 to 1.95 million in June from 1.62 million a year ago, with the online gambling sector partly contributing to the pool of unemployed. Preliminary data from the Philippine Statistics Authority...
The local stock market posted a marginal gain on Tuesday, Aug. 5, following the government 's report that inflation eased in July. The Philippine Stock Exchange index (PSEi) rose by 4.98 points, or 0.08 percent, to close at 6,353.63. The Property sector led the advance, while only the Banks...
Rice prices dropped at their fastest pace since 1995, bringing consumer price increases to below one percent in July, partly supported by the current administration’s ₱20-per-kilo rice program. Philippine Statistics Authority (PSA) Undersecretary and National Statistician Claire Dennis Mapa...
The PSEi continued to rise on bargain hunting as investors anticipate a benign inflation rate for July while the peso also firmed up. The main index added 42.52 points, or 0.67 percent, to close at 6,348.65. Sectoral indices were equally divided, with the property counter leading advancers. A total...
