Facebook Instagram Linkedin X Youtube
Home Blog Page 4726

Kia Philippines opens 45th dealership with Kia Batangas City  

KIA Philippines has recently opened its 45th dealership in the country after opening Kia Batangas City in line with plans to expand its local presence.

The car brand said in a recent statement that Kia Batangas City, located in Batangas Grand Terminal Diversion Road, Brgy. Alangilan, is its third dealership in Batangas province.

The new dealership will be led by Prime Legacy Motors, Inc., a member of the ALC Group of Companies that is engaged in industries such as transportation, insurance, banking and finance, pre-need, memorial care, hotels, and media.

“With our very strong business background in a diverse field of industries, having Kia as our partner will further strengthen our portfolio. And with a trusted brand such as Kia, we are confident of mutual success in the years to come,” Kia Batangas City President Joey Rivera said.

According to Kia Philippines, the recently opened Kia Batangas City features a lounge for customers while exploring the showroom or waiting for their vehicles from the service center.

“This new dealership — which showcases Kia’s new and dynamic look — is strategically located within the largest transportation terminal in the province of Batangas. This transport gateway is a convenient location for Kia’s valued customers located near the coast of Batangas Bay,” Kia Philippines said.

“It is also easily accessible via roll-on, roll-off for those coming from the massive island of Mindoro. Because of its location, there is no need to travel further inland to receive quality Kia service and care,” the car brand added. 

Kia Philippines’ Manny A. Aligada said that customers can expect “enhanced customer care” with the recently launched Kia Batangas City.

“We don’t just make Kia cars available through our growing network — we also deliver Kia experiences,” Mr. Aligada said.

“This is why we are eager for our loyal customers to visit Kia Batangas City to see our fresh vehicle lineup, which is also geared toward sustainability thanks to the recently launched Kia EV6, as well as enjoy the modern facilities and professionalism of sales staff and service technicians. After all, the customer experience is of utmost priority to us,” he added. — Revin Mikhael D. Ochave

Peugeot Easy Own Financing Program rolls out

Peugeot 2008 — PHOTO FROM PEUGEOT PHILIPPINES

PEUGEOT PHILIPPINES makes owning any of its vehicles easier through the Peugeot Easy Own Financing Program, which offers special rates, low down payments, and low monthly installments on the brand’s full range of global vehicles: the Peugeot 5008 SUV (Allure and Active), Peugeot 3008 SUV (Allure and Active), Peugeot 2008 SUV, and the Peugeot Traveller Premium (seven-seater and eight-seater).

Under the program, customers can enjoy savings of as much as P200,000 on a brand-new Peugeot vehicle and avail of a low down payment of 20% or a monthly installment that starts at P16,852.

“We want to give our customers the opportunity to experience the elegance and sophistication that Peugeot vehicles offer, without compromising their financial plans. With this promotion, we hope to welcome more customers into the Peugeot family,” said Peugeot Philippines Brand Head Maricar Parco.

She added, “Peugeot vehicles are renowned for their distinctive French design, advanced technology, and exceptional performance. There is a Peugeot model to suit every lifestyle and preference.”

The Peugeot 5008 SUV breaks ground as a premium seven-seater SUV. Inside, the new generation i-Cockpit offers a unique and immersive driving experience. Driver confidence has been brought to new levels with a multitude of Advanced Driver Assistance Systems (ADAS), including active blind spot detection, lane keeping assistance, and driver attention alert — making driving safer and more enjoyable.

Elegant, stylish, and inspiring, the Peugeot 3008 SUV “embodies the best that Peugeot has to offer in a five-seater SUV.” Its new design has all the style characteristics that give it more status and distinction, while keeping a strong identity on the road.

Both the Peugeot 5008 and 3008 SUVs now come in two variants: Allure and Active.

The Peugeot 2008 SUV is a five-seater compact, next-generation SUV and is an “ultra-modern interpretation of an instinctive and versatile driving experience.” Powerful and distinctive in style, it is positioned as a sculptural and desirable vehicle that creates a breath-taking impression on the road. The balanced lines and overall proportions are those of an SUV, with a recessed windshield that makes the bonnet more horizontal, creating a strong body. The compact five-seater SUV sits well on its wheels, perfectly shouldered, strong and reassuring.

Imported directly from France, the Peugeot Traveller Premium leads the way in its segment with comfort, elegance and style. It offers a spacious cabin, an enhanced driving experience, comfortable passenger amenities, and a host of safety and security features. Its elegant design is characterized by modern touches on the exterior that give the vehicle status and presence on the road.

The promo is exclusively offered in partnership with Security Bank until June 30 at all Peugeot showrooms and satellite dealerships nationwide. For more information, check out https://www.peugeot.ph/buy/buy-online/offers.html.

The path to #DigitalBangsamoro

PHILIPPINE STAR/WALTER BOLLOZO

AS WE MOVE ON and recover from the years impacted by the pandemic, we recognize the need for governments to deliver digitalized services, enable access to information and social protection, and function in transparent, accountable and effective ways.

The world is faced with the era of hyper-digitalization and it is imperative that we find ways to ensure that those at the fringes of society, those most vulnerable, those in far-flung and hard-to-reach areas, are able to keep up with the times. Now more than ever, we need to use the digital tools that we have at our fingertips to better the lives of the people we serve. And we need to make these digital tools inclusive and accessible to all. Digital for Development. Digital that leaves no one behind.

In the southern part of the Philippines, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Government, through its Ministry of the Interior and Local Government (MILG), has taken major steps in realizing its vision for a #DigitalBangsamoro — an aspiration that Interior and Local Government Minister Naguib Sinarimbo considers as a major step for the region to “bridge the current gap in development.”

The MILG forged a partnership with the United Nations Development Programme (UNDP) for the Localizing e-Governance for Accelerated Provision of Services (LeAPS) Program — a flagship program of the MILG, which will support the Office of the Chief Minister, all BARMM ministries, and local government units in using ICT solutions to simplify business processes, improving the quality and speed of local public services, and making these more accessible to the Bangsamoro people.

LeAPS is informed by experiential learning and insights from the Government of Bangladesh’s Access to Information (a2i) program, but adapted to the specific socio-cultural and economic context of BARMM.

Bangladesh’s a2i had similar starting challenges like BARMM’s poor connectivity and local governance in remote, rural locations. A2i has already achieved a recognized status as a leading global program that has dramatically improved citizens’ access to services and information, and expanded opportunities for community participation at the local level. It is with the inspirational example of Bangladesh that we designed the initiative here in BARMM.

Recently, MILG and UNDP jointly launched the very first strategically-located #DigitalBangsamoro Center in Piagapo — a municipality which boasts of its strong record in good local governance and citizen-centric public services. This pilot digital center features an interactive call center and a web portal, which will serve as the lighthouse for the service-seekers and for the BARMM citizens to have access to e-services efficiently, reliably, and securely.

The Digital Center, which will be launched gradually across the region, is a one-stop shops where people can easily access public information or transact through provision of various frontline services — such as passport application, birth certificate registration, labor registration, mobile banking, utility service, bus/airline ticketing, school admission application, job application, among others. This will not only bring the government closer to the communities, but it will hopefully identify the gaps in the delivery of public services and build an equitable society.

While the #DigitalBangsamoro Center in Piagapo is the first in the region, it certainly will not be the last. Most recently, a second one was opened in Butig — another small municipality in Lanao del Sur. The long-term plan is to improve local service delivery for all the 116 municipal LGUs and two city local government units in BARMM.

The mission of LeAPS is an ambitious one. And at the core of the initiative, the goal is clear: to improve citizens’ access to services and information and to expand opportunities for community participation at the local level in the whole of the Bangsamoro so that no one is left behind.

 

Dr. Selva Ramachandran is the resident representative of UNDP Philippines. UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with a broad network of experts and partners in 170 countries, it helps nations to build integrated, lasting solutions for people and the planet. In the Philippines, UNDP fosters human development for peace and prosperity. Working with central and local governments as well as civil society, and building on global best practices, UNDP strengthens capacities of women, men ,and institutions to empower them to achieve the Sustainable Development Goals (SDG) and the objectives of the Philippine Development Plan. Learn more at ph.undp.org or follow at @UNDPPH.

LVMH joins with Epic Games to offer virtual experiences

LVMH.COM

French luxury goods group LVMH Moet Hennessy Louis Vuitton SE has paired up with Epic Games Inc., creator of Fortnite, to draw in customers with fitting rooms and fashion shows in virtual worlds.

LVMH will use Epic’s 3D creation tools to create immersive products and experiences, as well as new collections and ad campaigns, according to a statement on Wednesday last week. Epic’s graphics platform Unreal Engine, for example, can be used for creating “digital twins,” which let clients see how a physical product will look and behave before it’s been manufactured.

LVMH Group managing director Toni Belloni said Epic’s tools will also help the company “engage more effectively with young generations who are very much at ease with these codes and uses.”

Epic Chief Executive Officer Tim Sweeney has been one of the most enthusiastic supporters of the metaverse, envisioned as an immersive version of the internet, where people interact, play games or complete tasks as a digital avatar. Epic’s Fortnite has rapidly evolved from a popular multiplayer video game into an online space where people socialize and big-name musicians host virtual concerts. The company’s metaverse strategy also includes software tools, which provide the building blocks for virtual design and digital advertisements.

As Epic and rival Roblox Corp. build out their versions of the metaverse, brands have been staking their turf in these virtual worlds, where younger audiences congregate. Epic joined with Ferrari two years ago to bring a highly realistic version of a Ferrari 296 GTB to Fortnite, allowing players to zip around their cartoonish world in style.

Meanwhile, Roblox has become a magnet for high-end fashion brands, including Ralph Lauren Corp., which debuted its first digital fashion line on the site in 2021. Tommy Hilfiger and Gucci also have a presence there, and supermodel Karlie Kloss launched a virtual runway on Roblox in 2022 along with five digital pop-up stores to promote her virtual apparel. — Bloomberg

Cacao processing center set to rise in Davao’s Paquibato district

DA-11/SJABASTILLAS

THE Department of Science and Technology (DoST) will launch several projects in the upland Paquibato district in Davao City, including a cacao processing center that will benefit 20 farmers’ cooperatives.

Arnel M. Rodriguez, director of the DoST’s Davao City office, said the processing center will allow cacao growers in the area to move up the value chain.

“We saw through evaluation that there are plenty of cacao trees grown in the area but the farmers primarily produce wet or unfermented beans, the most raw product, which on the value chain fetches the lowest price,” he said during last week’s Habi at Kape forum.

Mr. Rodriguez said the DoST has acquired the processing equipment and finalized a partnership with a cooperative that will host the processing facility, whose production will be aligned with halal standards to service the Muslim market.

The department will train community members in the operation of the plant’s equipment.

“The processing system that we are adopting is aligned with halal. There is a big market for halal… If Davao can supply cacao certified beans or chocolate products, the farmers there can tap a much bigger market and thereby have a much higher income,” he said.

Another DoST project that will be launched in the district is a ramp pump potable water system, which does not require electricity.

These projects are being conducted under the Community Empowerment through Science and Technology Program that focuses on geographically isolated and disadvantaged areas (GIDA).

“In Davao City, GIDA areas are Paquibato and Marilog districts. In Paquibato, we also have a project in Barangay Lumiad, which was previously an insurgency hotspot,” Mr. Rodriguez said.

The DoST is also developing a packaging system for vegetables and fruit brought to the Davao Food Terminal Complex (DFTC) in partnership with the City Agriculturist’s Office.

Mr. Rodriguez said the project is intended to extend the shelf life of produce and minimize losses, especially for high-value vegetables and fruit.

“Hopefully, by next year we will start seeing these products as a result of that project,” he said.

The DFTC, a P70-million project funded by the Department of Agriculture’s Davao Region office, serves as a wholesale trading facility for fruit and vegetables. It has a cold storage facility with eight refrigerated containers and operates 24 hours a day, seven days a week. — Maya M. Padillo

Weak market sentiment drags down shares in Globe Telecom

GLOBE Telecom, Inc.’s share price inched down last week amid weak market sentiment, with news about its popular e-wallet unit GCash’s planned public debut by year-end failing to lift the stock.

Data from the Philippine Stock Exchange (PSE) show P1.02 billion worth of 580,600 Globe shares were traded from June 13 to 16. Local financial markets were closed on June 12 for the Independence Day holiday.

The Ayala-led telecommunication company closed at P1,710 apiece on Friday, 4.2% lower than its P1,785 per share finish on June 9. Since the start of the year, the stock has declined by 21.6%.

“Over the past few days, we observed foreign investors selling off the stock, potentially due to fund managers adjusting their portfolios,” Mark Crismon V. Santarina, head of Electronic Trading at Globalinks Securities and Stocks, Inc., said in a Viber message.

He also noted that the Philippine stock market, including Globe’s stock, is currently undervalued.

Last week, Globe has announced plans for GCash to go public via an initial public offering (IPO) of its shares. G-XChange, Inc., the operator of the e-wallet, is owned by Globe subsidiary Globe Fintech Innovations, Inc., or Mynt.

In a chance interview with reporters on Wednesday, G-XChange President and Chief Executive Officer Oscar A. Reyes, Jr. said the company has “a lot of things that we need to do, especially from a regulatory standpoint.”

Earlier this month, Bloomberg reported that Globe’s top official expects GCash to be IPO-ready by the end of the year.

Despite the news of a potential GCash IPO, Globe’s stock performance last week was dragged by overall market sentiment, said Ryan Vincent L. Parlade, an equity analyst at The First Resources Management and Securities Corp., in an e-mail.

Currently, GCash is available in France, Germany, Japan, Australia, Italy, the United States, the United Kingdom, and Canada, with plans to expand in the Middle East. Users overseas can access the e-wallet using an international subscriber identity module or SIM card.

Mr. Santarina believes that a GCash IPO “is likely to occur when market conditions improve.”  

In the first quarter, Globe’s gross service revenues inched up by 2.1% to P39.98 billion from P39.11 billion in the previous year.

Its attributable net income was nearly halved to P7.25 billion from P13.65 billion. Its consolidated bottom was likewise trimmed by almost half to P7.27 billion in the first three months from P13.66 billion a year ago.

Mr. Parlade expects Globe’s revenue to grow and hit P188.90 billion this year, “considering its upbeat performance during the first quarter and solid contributions from its business units despite the global economic headwinds.”

“We think that the stock may find its support in the P1,700.00 level followed by the P1,600.00 level. On the other hand, we are placing our resistance levels at P1,800.00 to P1,900.00 levels,” Mr. Parlade said.

Meanwhile, Mr. Santarina said Globe’s stock price might continue its downward trend in the short term. “However, with the overall improvement in market sentiments globally, we can anticipate foreign inflows into the local market,” he said.

“This influx of foreign investment may attract buyers for Globe stock, potentially reversing its downward trajectory,” he added.

Mr. Santarina pegged the support and resistance levels at P1,707.00 per share and P1838.00 per share, respectively. — T. C. S. Migriño

Coming this Thursday: The Toyota Zenix

PHOTO FROM TOYOTA MOTOR PHILIPPINES

TOYOTA MOTOR Philippines Corp. (TMP) advocates for a multiple pathway approach to carbon neutrality, and says that part of this strategy is continuously expanding its range of electrified vehicles that are appropriate for current market and infrastructure conditions, and are suitable for the customers’ needs.

“We are very excited to finally bring in the all-new Toyota Zenix, further boosting Toyota’s wide range of electrified vehicle choices for Filipino families,” said TMP First Vice-President for Vehicle Sales Operations Danny Cruz. “We acknowledge the growing demand for electrified vehicles in the country and we appreciate our customers’ conscious efforts to opt for sustainable mobility. Widespread adoption of electrified vehicles is one of our goals and we would like to support this by providing practical and suitable choices.”

Retail sales of the all-new Toyota Zenix will begin on June 22 in all Toyota dealerships nationwide. Full features will be released soon via TMP’s official website, toyota.com.ph. Interested customers can also follow Toyota Motor Philippines on Facebook and Instagram, ToyotaMotorPH on Twitter or join the Viber community, Toyota PH, for updates on the start of reservation period. Price for the all-new Toyota Zenix will start at P1.67 million for its gas variant and P1.953 million for the hybrid variant.

Health and Mayon

SOME VILLAGERS affected by the current eruption of Mayon Volcano have left their homes for the safety of a temporary evacuation site set up inside the Anislag Elementary School in Daraga, Albay. — PHILIPPINE STAR/EDD GUMBAN

Mayon Volcano started spewing lava during an eruption in Albay on July 11, forcing the evacuation of more than 15,000 residents nearby. The Philippine Institute of Volcanology and Seismology (Phivolcs) has recommended that everyone within a six-kilometer radius — the “danger zone” — of Mayon Volcano be evacuated due to the danger of rockfalls, landslides, and ballistic fragments.

Phivolcs also warned that a “hazardous eruption is possible within weeks or even days” after detecting “a relatively high level of unrest.” There are even indications that the eruptions could last for months. Under such circumstances, evacuated families may have to look for temporary shelter until it is safe to go home.

During these trying times, it is also important for everyone living in the vicinity of Mayon to stay healthy and safe. To do so, residents will have to stay clear of volcanic ash, which is composed of fine particles of fragmented volcanic rock. It is often hot very close to the volcano but is cool when it falls at greater distances.

The effects of ash on health may be divided into several categories: respiratory effects, eye symptoms, skin irritation, and indirect effects. On its respiratory effects, ash can cause nasal irritation and discharge (runny nose), throat irritation and sore throat. Those with pre-existing chest complaints may develop severe bronchitis symptoms.

Eye irritation, on the other hand, is a common health effect as pieces of grit can cause painful scratches in the front of the eye and conjunctivitis, said the International Volcanic Health Hazard Network. As much as possible, one should refrain from wearing contact lenses to prevent corneal abrasion from occurring.

If the ash is acidic, the ash can cause skin irritation and reddening of the skin, and secondary infections due to scratching may arise. Indirect health impact includes ashfall effects on road conditions, power and water supply, sanitation, risk of roof collapse, and animal health.

Here are some things that one can do to stay healthy during a volcanic eruption, according to the Centers for Disease Control and Prevention (CDC):

• If a person happens to be outdoors at the time of an eruption, seek shelter in a car or a building. If caught in a volcanic ashfall, wear a dust mask, or use a handkerchief or piece of cloth to cover the nose and mouth.

• Wear long-sleeved shirts and long pants.

• Stay indoors as volcanic ash is a health hazard, especially if one has respiratory difficulties such as asthma or bronchitis.

• When staying indoors, close all windows and doors to limit the entry of volcanic ash. Place damp towels at thresholds.

• After a light ashfall, it is advisable to filter off the ash in the drinking water supply. If a volcanic eruption is imminent, stock up on potable water good for one week.

• Turn off all fans and air conditioning systems.

• If there is need to go outside, use protective gear such as masks and goggles and keep as much of the skin covered as possible.

• If the eyes, nose, and throat become irritated from volcanic gas and fumes, move away from the area immediately. These symptoms should go away when a person is no longer in contact with the gases or fumes. If the symptoms continue, consult your doctor.

• When preparing food, make sure that all vegetables are thoroughly washed to ensure that they are ash free before they are cooked.

The CDC added that health concerns due to volcanoes include infectious diseases, respiratory illnesses, burns, injuries from falls, and even vehicular accidents. In this time of the pandemic, temporary shelters must also follow health standards to contain the spread of COVID-19 among evacuees.

There is no knowing when there will be a hazardous eruption. With this, residents in the area will have to remain vigilant and prepare to take care of their health and safety if the situation worsens. It will be important to keep updated on the situation in and around Mayon Volcano and heed local government announcements should there be a need to move to safer grounds.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines (PHAP). PHAP represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

Vogue’s Anna Wintour, author Ian McEwan honored by King Charles

LONDON — Vogue editor-in-chief Anna Wintour, author Ian McEwan, and immunologist and geneticist John Bell were named Companions of Honor, an order limited to 65 people at any time, in King Charles’ first birthday honors list on Friday.

Ms. Wintour, who has been editor of Vogue US since 1988, is one of the most powerful people in the fashion world and a philanthropist who has raised more than $300 million for the US Metropolitan Museum of Art’s Costume Institute.

Mr. McEwan, who was appointed to the order for services to literature, is the author of acclaimed novels including Amsterdam, Atonement, and Enduring Love.

Mr. Bell’s three-decade-long mission to build vaccines research capability at the University of Oxford, where he is Regius Professor of Medicine, was vital to the development of the Oxford/AstraZeneca COVID-19 vaccine, the government said.

More than 1,000 people were rewarded in the king’s birthday honors for service in education, healthcare, philanthropy and other areas.

King Charles, who was crowned in May, celebrated his official birthday on Saturday with the “Trooping of the Color” military parade. The 74-year-old monarch’s real birthday is on Nov. 14. — Reuters

Coffee research group progresses on naturally decaffeinated varieties

REUTERS

SÃO PAULO — A Brazilian coffee research institute has started a decisive stage in a two-decade project to develop arabica coffee varieties that are naturally decaffeinated, a development the researchers think could have significant commercial potential.

The program is being developed at the Instituto Agronomico de Campinas (IAC), a leading coffee research center that has provided many of the high-yield coffee plants that have helped Brazil become a powerhouse in the global coffee market, supplying more than a third of the trade.

Researchers at the IAC said they are starting regional field trials of some of the varieties they have been developing for several years by crossing different coffee plants that naturally have very low caffeine content, using the germplasm bank at their facilities.

If successful, the resulting varieties could find a market niche in large consuming regions such as Europe and the US among consumers that would prefer them instead of current decaffeinated brands that are the result of chemical or industrial processes.

Companies selling decaffeinated coffee as well could benefit with reduced costs, since they could skip the industrial processes to remove caffeine from regular coffee varieties.

“The results we had so far look promising, we are upbeat,” said Julio Cesar Mistro, a researcher overseeing the project at IAC.

Some of the clones developed in the center are being planted in different regions in Brazil.

Coffee trees usually take two to three years to produce the first fruits, so there are still some years ahead until the researchers can harvest that coffee and test it.

Consumption of decaffeinated coffee accounts for around 10% of the market in the US, according to data from the National Coffee Association (NCA).

Although many drink coffee specifically seeking the energy boost provided by caffeine, some people are intolerant to it, or prefer to have “decaf” when later in the day to avoid potential sleeping disruptions. — Reuters

Yields on government debt climb as US Fed keeps hawkish stance

By Abigail Marie P. Yraola, Researcher

YIELDS on government securities traded at the secondary market rose last week after the hawkish stance of the US Federal Reserve even as it kept interest rates unchanged.

Yields, which move opposite prices, rose by 9.17 basis points (bps) on average week on week, based on PHP Bloomberg Valuation Service Reference Rates as of June 16 posted on the Philippine Dealing System website.

Rates went up at the short end of the curve with the 91-, 182- and 364-day Treasury bills (T-bills) rising by 3.1 bps, 12.88 bps and 9.73 bps to 5.8941%, 6.0297% and 6.0455%, respectively.

The belly of the curve climbed as yields on the two-, three-, four-, five- and seven-year Treasury bonds (T-bonds) went up by 4.6 bps (5.9470%), 5.33 bps (5.8961%), 5.5 bps (5.8706%), 6.2 bps (5.8747%) and 10.85 bps (5.9604%), respectively.

At the long end of the curve, the rates of the 10-, 20- and 25-year debt also increased by 16.63 bps (6.0753%), 12.41 bps (6.0678%) and 13.66 bps (6.0691%). Volume fell to P5.3 billion from P8.07 billion a week earlier.

Noel S. Reyes, chief investment officer for Trust and Asset Management Group at Security Bank Corp., said the main factors for the week’s yield movements were externally driven, primarily by US Treasuries.

“The Philippine bond market chose to trade defensively throughout the week as direction was being dictated by US interest rate trading and Fed policy,” he said.

The US central bank’s decision to pause and signal future hikes kept peso bond buyers on hold because it puts pressure on the Bangko Sentral ng Pilipinas to raise rates as well to maintain its premium and protect the peso, Mr. Reyes said.

A bond trader said local yields had tilted to the upside amid initial expectations of policy rate hike by the Fed.

“While the US central bank kept its policy rates unchanged, the latest economic projections from Fed officials hinted at tighter monetary policy setting compared with prior market views,” the bond trader said in a Viber message.

Last week, the Federal Reserve kept interest rates unchanged but signaled that borrowing costs could rise by as much as half-a-percentage point by yearend amid a strong US economy and a slower decline in inflation, Reuters reported.

Traders’ expectations for peak rates moved higher after the announcement.

“We may see yields continue to move higher, especially with Finance Secretary Benjamin E. Diokno saying the BSP might cut rates in the first quarter of 2024, which is contrary to last month’s statement that they might be able to cut in August,” another bond trader said in a Viber message.

The first bond trader said a July rate hike by the Fed is possible. The trader said volume had been subdued as traders have chosen to remain on the sidelines before the Fed meeting.

Mr. Reyes said there could be renewed buying at this week’s trading session if yields move up.

“The downward trajectory of inflation will eventually lead to the attainment of the terminal rate sooner than later and peaking of rates is at hand,” he said.

The first bond trader expects yields to move higher due to hawkish statements by the Fed.

“The BSP is expected to track the Federal Reserve in potentially maintaining its policy rates while remaining relatively hawkish in order to give the domestic central bank some flexibility to allow for future rate hikes,” the trader said.

The Monetary Board will hold its policy meeting on June 22.

Philippines improves in 2023 Fragile States Index

The Philippines improved 11 places to rank 61st out of 179 countries with a score of 77.8 (out of 120) in the 2023 edition of the Fragile States Index (FSI) by American nonprofit institution Fund for Peace. A higher rank and index score indicate greater instability. It was the best ranking of the Philippines in 17 years or since it placed 68th out of 146 countries in 2006.

Philippines improves in 2023 Fragile States Index

1...4,7254,7264,727...14,251Page 4,726 of 14,251
ADVERTISEMENT
ADVERTISEMENT
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube