PSEi falls 1.73% as foreign selling continues
The local stock barometer dropped below the 6,200 mark yesterday as foreign funds dumped a number of local blue chip companies. The Philippine Stock Exchange index (PSEi) slid by 108.95…
SMIC sets ‘hybrid’ strategy to emerge stronger from crisis
The country’s largest conglomerate, SM Investments Corp. (SMIC), has vowed to emerged stronger from the current coronavirus pandemic using a “hybrid” strategy of using both physical and digital infrastructure to…
Gov’t presses registration of all online sellers
The Philippines is crafting a mechanism to collect the 12-percent value-added tax (VAT) from goods and services being provided by multinational digital platforms such as Amazon and Netflix, Department of…
Loans for COVID-19 response continue to rise
MANILA, Philippines — The head of the Duterte administration’s economic team on Wednesday said they expected President Rodrigo Duterte to decide in the next couple of days if he would…
Amid layoffs, Aboitiz vows to pursue infra, airport ambitions
Aboitiz Equity Ventures Inc. will continue infrastructure investments despite the new coronavirus disease (COVID-19) pandemic forcing a shift in its business strategy and prompting layoffs in one of the country’s…
IMF downgrades outlook for global economy in face of virus
In this Feb. 14, 2020, file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich,…
IMF projection: PH economy to shrink by 3.6 percent
The International Monetary Fund (IMF) has further downgraded its economic outlook for the Philippines, with the Washington-based multilateral lender projecting gross domestic product (GDP) to shrink by 3.6 percent this…
PH commits to signing RCEP trade pact by November
MANILA, Philippines — The Philippines has committed to sign an Asia-wide trade deal involving 15 countries by November. In a statement Wednesday, the Department of Trade and Industry (DTI) said…
DOJ says NBI, AMLC, BI to probe Wirecard controversy
MANILA, Philippines — Justice Secretary Menardo Guevarra on Wednesday ordered the National Bureau of Investigation (NBI) to identify certain individuals involved in alleged accounting irregularities in Wirecard AG, which reportedly…
Gov’t loans push PH dollar reserves to historic high in May
The Philippines’ dollar reserves hit a historic high in May —at the peak of the COVID-19 lockdown—thanks to inflows from the government’s foreign borrowings, as well as foreign exchange earnings…