The Philippine Stock Exchange index (PSEi) plunged as investors sold down shares in panic due to fears of a global trade war as countries are taking retaliatory measures slapped harsh tariff rates by the US. The Philippine benchmark fell by 261.34 points or 4.3 percent to close at 5,822.85 on...
Amid declining casino revenues, Razon-led Bloomberry Resort Corp., owner and operator of the two Solaire and the Jeju Sun integrated resorts, is rolling its dice in the online gaming table. Sharing its online gaming plan with stock analysts, Bloomberry said it will fully launch its online gaming...
Zobel-led property giant Ayala Land Inc. (ALI) is raising ₱75 billion to partly fund its capital expenditures amounting to ₱95 billion in 2025, while infusing ₱20.99 billion worth of mall, office, and hotel assets into real estate investment trust unit AREIT Inc. ALI President Anna Ma....
The Ayala Group continues to dispose of non-core businesses with the sale of its telehealth provider KonsultaMD to Metro Pacific Health Tech Corporation (mWell) so it can better focus on more promising endeavors. The move comes after the sale of a portion of its stake in GCash to Mitsubishi and the...
The Philippine Stock Exchange index (PSEi) plunged to a two-year low on Friday, Jan. 31, entering bear market territory, as funds rebalanced portfolios ahead of index recomposition. Investor sentiment was also dampened by the Philippines' low economic growth rate for 2024. The main index dropped...
The peso appreciated against the US dollar for the second consecutive day on Wednesday, Dec. 4, closing at a one-month high of 58.23, primarily driven by the expected surge in overseas remittances leading up to the Christmas holidays. The peso's closing rate jumped from the previous day's close of...
Low-cost Asian manufacturers may benefit from Donald Trump's forthcoming return to White House, despite the likelihood of weaker Asian currencies, including the Philippine peso, according to the think tank Capital Economics. “Asian currencies have depreciated against the US dollar since the...
President Ferdinand R. Marcos Jr.’s decision to ban Philippine offshore gaming operations (POGOs) may have little impact on most publicly-listed property developers, but it will affect the jobs and sales of businesses supporting the industry. “POGO operations have been reduced since the...
The national government partially awarded its short-term debt papers as yields increased following the previous week's decline. The Bureau of the Treasury failed to meet its P11.2 billion target, managing to raise only P9.685 billion. The total bids received during the auction amounted to P34.372...
Short-term benchmark interest rates sharply dropped anew, now below the local policy rate of 6.50 percent. At the Bureau of the Treasury auction on Tuesday, Nov. 28, the national government fully awarded its P10 billion offering. Total demand reached P72.215 billion, more than seven times higher...
The national government has fully awarded the reissued 20-year Treasury bonds (T-bonds) amid higher demands. On Tuesday, Nov. 21, the Bureau of the Treasury raised P30 billion through an auction of reissued T-bonds with a remaining life of 15 years and two months. Total tenders received were...
Short-term benchmark interest rates significantly increased weeks after the policy rate hike. At the Bureau of the Treasury auction on Monday, Nov. 6, the national government raised a total of P13.220 billion, below the P15 billion program. Total demand reached P32.316 billion. The 91-day Treasury...
