Duterte to finish 29 flagship projects before term ends

DPWH The government expects to finish 29 flagship infrastructure projects worth P238.48 billion before President Rodrigo R. Duterte’s term ends in 2022. It has added 13 more projects for a total of 119 projects worth P4.73 trillion, presidential adviser for flagship infrastructure projects Vivencio B. Dizon told a televised news briefing on Friday. The National […]

BoP 2021 estimate raised on better economic landscape

JANNOON028/FREEPIK The Philippine central bank raised its balance of payment (BoP) projection for this year on expectations of an improved economic landscape here and overseas. It now expects the payment position to post a $7.1 billion surplus by year-end, which is lower than the $16-billion surplus last year but higher than the $6.2-billion surplus projection […]

Q1 external debt declines

KSTUDIO-FREEPIK The country’s outstanding foreign debt fell by 1.5% or $1.4 billion to $97 billion at the end of March from end-December, after the National Government redeemed maturing bonds and local banks settled their obligations, according to the Philippine central bank. Year-on-year, the country’s debt stock rose by $15.6 billion after borrowings worth $13.5 billion […]

COVID-19 cases hit 1.35M

PHILIPPINE STAR/ MICHAEL VARCAS The Department of Health (DoH) reported 6,833 coronavirus infections on Friday, bringing the total to 1.35 million. The death toll rose by 110 to 23,385, while recoveries improved by 3,441 to 1.26 million, it said in a bulletin. There were 61,776 active cases, 1.2% of which were critical, 92.2% were mild, […]

PAL share trading halted on audit disclaimer

The Philippine Stock Exchange (PSE) suspended the trading of PAL Holdings, Inc. shares beginning Friday after the exchange noted a disclaimer of opinion of the company’s independent auditor on the listed company’s annual report. “We do not express an opinion on the accompanying consolidated financial statements,” SyCip, Gorres, Velayo & Co. said in the company’s […]

Peso sinks as US central bank hints at higher rates by 2023

THE PESO sank further versus the greenback on Thursday after the US Federal Reserve signaled it could hike rates earlier than previously hinted. The local unit closed at P48.38 per dollar yesterday, losing 29 centavos from its P48.09 finish on Wednesday, data from the Bankers Association of the Philippines showed. The peso opened Thursday’s session […]

PSEi sinks on profit taking after Fed statement

PHILIPPINE STAR/ KRIZ JOHN ROSALES PHILIPPINE shares declined on Thursday due to profit taking amid the lack of upward price movement and after the US central bank signaled an end to its easy policy stance. The Philippine Stock Exchange index (PSEi) lost 85.43 points or 1.22% to close at 6,887.92 on Thursday, while the broader […]