Average rates on treasury bills drifted lower at the auction Monday as demand continued to increase after the central bank confirmed its commitment to further monetary policy easing this year.
The country's balance of payments (BOP) posted a surplus of USD609 million in 2024, a decline from the USD3.7 billion surplus in 2023, according to the Bangko Sentral ng Pilipinas (BSP). This, the BSP said, was driven by a widened current account deficit, which grew by 41.4 percent to USD17.5 billion for the year. The deficit stemmed from a larger trade deficit and reduced receipts in services, partially offset by increased income transfers.
Gold, as an asset, isn’t considered a favorable investment by the Bangko Sentral ng Pilipinas (BSP), as it typically leads to a negative carry due to custodial costs and price volatility.
Foreign direct investments (FDI) flowed inward on a net basis in December 2024, totaling USD110 million, representing a stark 85.2 percent decline from USD743 million from a year earlier. The Bangko Sentral ng Pilipinas (BSP) traced the drop primarily to increased debt repayments by resident corporations to foreign investors, which caused a shift in FDI composition.
The Department of Agriculture (DA) announced that the P500-million cold storage facility in Camarines Sur is on schedule for completion by December 2025.
Motorists and businesses should brace for another round of fuel price increases this Tuesday, with Jetti Petroleum Inc. projecting hikes of P0.60 to P0.80 per liter for gasoline and P0.30 to P0.50 per liter for diesel. Kerosene is also expected to rise by around P0.10 per liter, according to the Department of Energy (DOE).
The consortium behind the proposed breakthrough national logistics integrated backbone project has reaffirmed its commitment to complete the infrastructure program within the remaining years of President Ferdinand R. Marcos Jr.'s administration — provided swift government action is taken.
Globe Telecom Inc., together with its subsidiary Fiber Infrastructure and Network Services Inc. (FINSI), has successfully completed a landmark field trial of Google's TAARA Free Space Optics (FSO) technology, achieving a 10Gbps wireless optical connection over 11 kilometers.