ERC suspends electricity trading as prices set to surge
THE ENERGY Regulatory Commission (ERC) has temporarily halted the trading in the country’s electricity spot market to curb the impact of rising prices, which is seen hitting P9 per kilowatt-hour (kWh) amid the ongoing energy crisis.
BSP holds rates in off-cycle meeting
THE BANGKO SENTRAL ng Pilipinas (BSP) kept its policy rate unchanged at 4.25% during a surprise off-cycle meeting on Thursday, as it sought to calm markets amid growing concerns over the impact of the Middle East war on the economy.
Malampaya operator aims to deliver gas by fourth quarter
Razon-led Prime Energy Resources Development B.V., the operator of the Malampaya deep water gas-to-power project, said it is on track to start producing gas...
ASEAN summit to go ahead in May, but shortened to ‘bare bones’ program due...
MANILA — Philippine President Ferdinand R. Marcos Jr. said on Friday that the ASEAN Leaders' summit will go ahead in May, but will be...
Trade gap widens to $3.68B in February
THE Philippines’ trade-in-goods deficit widened year on year in February as imports rose by double-digits while exports eased, the Philippine Statistics Authority (PSA) reported...
Manila, Beijing resume talks on South China Sea, energy security
MANILA/HANOI — The Philippines and China have resumed high-level talks this week over the disputed South China Sea, exploring preliminary steps toward oil and...
Peso may extend its slide on war-driven uncertainty
THE PESO could sink further against the dollar this week as uncertainty around energy supply persists due to the Middle East war.
On Friday, the...
Stocks may drop further as market stays cautious
PHILIPPINE SHARES may continue to move lower in the coming days as investors cautiously stay on the sidelines due to the Middle East conflict...
High fuel costs, weak peso force many Filipinos to trim Holy Week travel plans
DANA D. CASTILLO had planned to shop for clothes and accessories when she travels to China over the Holy Week break. Instead, the 27‑year‑old government employee is now budgeting only for food, sightseeing and a few souvenirs.
Prolonged Mideast war could dampen banana, pineapple exports
DESPITE a strong year-to-date growth in Philippine banana and pineapple exports, the Department of Agriculture (DA) said a prolonged Middle East war threatens to disrupt the country’s outbound shipments.
Gov’t eyes offshore issuance in Q2
THE GOVERNMENT is looking at tapping the offshore bond market in the second quarter, the Bureau of the Treasury (BTr) said.
“We still have $2.5...
Business confidence improves in February before Middle East conflict — BSP survey
By Aaron Michael C. Sy Reporter
BUSINESSES were more optimistic in February as they expected strong consumer demand and better economic conditions, results of...