OFW remittances up by more than 5% in March

Credit to Author: Anna Leah E. Gonzales| Date: Mon, 17 May 2021 16:33:13 +0000

Money sent home by overseas Filipino workers (OFWs) went up by 5.6 percent in March, boosting the year-to-date tally, the Bangko Sentral ng Pilipinas (BSP) said. BSP data released on Monday showed that personal remittances — personal transfers in cash or kind and capital transfers between households — amounted to $2.8 billion in March up […]

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Rice harvest up 8.6% in January-March

Credit to Author: Jordeene B. Lagare| Date: Mon, 17 May 2021 16:30:16 +0000

Farmers in the Philippines harvested a total of 4.626 million metric tons (MMT) of palay (unmilled rice) in the first quarter of 2021, which is a new record, the Department of Agriculture (DA) reported on Monday. This was 8.6-percent higher than the same period a year ago and exceeded the record palay yield logged in […]

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Last minute buying extends PSEi’s climb

Credit to Author: Faye Almazan| Date: Mon, 17 May 2021 16:23:22 +0000

Last minute buying enabled the local bourse to record another round of marginal gains on Monday. The benchmark Philippine Stock Exchange index (PSEi) gained 0.23 percent or 14.22 points to its day high of 6,283.58, while the wider All Shares rose 0.27 percent or 10.43 points to end at 3,861.41. Philstocks Financial inc. senior research […]

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PhilSys registration adds 2.4M LandBank accounts

Credit to Author: Anna Leah E. Gonzales| Date: Mon, 17 May 2021 16:22:03 +0000

State-run Land Bank of the Philippines (LandBank) said more than 2.4 million unbanked Philippine Identification System (PhilSys) registrants have already signed up for LandBank transaction accounts as of April 30, 2021. In a statement on Monday, LandBank said that of the total 2.4 million registrants, the bank has already issued LandBank Agent Banking Cards (ABCs) […]

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Pork tariff adjustment to boost supply

Credit to Author: Jordeene B. Lagare| Date: Mon, 17 May 2021 16:20:08 +0000

The government’s recent move to adjust tariff rates on imported pork products will bolster local supply, the Philippine Association of Meat Processors Inc. (Pampi) said on Monday. In a statement, Pampi said President Rodrigo Duterte’s recent directive “will effectively reduce landed cost of pork and help augment local supply.” “We are confident that it will cause […]

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Five power co-ops borrow P123M

Credit to Author: Jordeene B. Lagare| Date: Mon, 17 May 2021 16:17:53 +0000

Five electric cooperatives (ECs) took out P123.118 million in loans to improve their respective electrification infrastructure, the National Electrification Administration (NEA) said on Monday. These ECs are Bantayan Island Electric Cooperative, Inc. (Banelco); La Union Electric Cooperative, Inc. (Luelco); Quezon I Electric Cooperative, Inc. (Quezelco I); Bohol II Electric Cooperative, Inc. (Boheco II); and Bukidnon […]

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Govt debt servicing soars in March

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Sun, 16 May 2021 16:20:27 +0000

Total paid hits P268B or 444% compared to 2020 level Increased interest payments and amortization costs accelerated the national government’s debt servicing in March by more than 400 percent relative to payments made a year earlier, data released by the Bureau of the Treasury showed over the weekend. Debt payments in March totaled P268.41 billion, […]

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PSEi to track vaccination progress

Credit to Author: Faye Almazan| Date: Sun, 16 May 2021 16:19:30 +0000

The Philippine index is seen trading sideways as investors will continue to track the country’s vaccination program, the local pandemic situation, and inflation concerns abroad, analysts said. Last week, the benchmark Philippine Stock Exchange index (PSEi) improved by 0.53 percent or 32.96 points to close at its intraday high of 6,269.36 despite trading mostly in […]

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LandBank backs changes to agri law

Credit to Author: Jordeene B. Lagare| Date: Sun, 16 May 2021 16:18:24 +0000

The Land Bank of the Philippines (LandBank) on Sunday expressed its full support to amend a law that will provide farmers and fishers nationwide expanded and easier access to lending. Likewise, the state-run lender welcomed recommendations from legislators to revisit its loan application requirements, specifically for small farmers and fishers, during a public hearing on the proposed […]

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Budget utilization quicker in Jan-Apr

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Sun, 16 May 2021 16:17:44 +0000

The budget use of government agencies accelerated in the first four months of the year, data from the Department of Budget and Management (DBM) showed over the weekend. From January to April, agencies used P699.96 billion of the P822.41 billion issued under the Notice of Cash Allocation (NCA), resulting in an 85-percent utilization rate, up […]

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