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MANILA, Philippines — President Ferdinand Marcos Jr. has agreed to tag as urgent proposed changes to the controversial Rice Tarrification Law (RTL) that would allow the National Food Authority to sell cheap rice in the markets again.
Let’s take a look forward at a clean, holiday-free week for the PSE and the US market.PH: Today (Monday) is the last day of OceanaGold PH’s offer period. The listing comes on the 13th. Tomorrow (Tuesday), we will get the April inflation figure from the Philippine Statistics Authority (PSA), which should feed into the BSP’s decision-making process for its May 16 rates meeting. On Thursday we have the Q1 GDP info from the PSA, and the settlement of the Premium Leisure Corp [PLC 0.73 ?4.3%; 1% avgVol] tender offer.International: It’s a week of speeches from US economic managers, plus the Reserve Bank of Australia will have a rates decision on Tuesday, and the Bank of England will have a rates decision on Friday.MB BOTTOM-LINE: The calendar is starting to pick up. I don’t expect any rate-setting surprises from the BSP or any of the international central banks, but I will be reading the statements and the analysis pretty closely to see how they frame inflation’s stickiness and to note any changes in expectations. We should also hear soon from Citicore Renewable Energy about the offer period for its upcoming IPO if it still hopes to list on May 31, unless they’re planning to let the dates slip further into Q2 for a mid- or late-June listing. As for April’s inflation figure, lots of noise about it coming in above 4%, with yet more pain for families in the form of higher rice and meat prices.
MANILA, Philippines — The Land Transportation Franchising and Regulatory Board (LTFRB) has assured commuters that there is no impending fare hike even as the government implements its public utility vehicle modernization program (PUVMP).
THE stock market remained in the red amid inflation concerns, while the Philippine currency ended the week stronger against the greenback on Friday.
MOST Asian central banks are anticipated to delay reducing policy rates due to the region's sensitivity to capital flows and exchange rates relative to interest rates in the United States.
MANILA, Philippines — The soaring prices of basic commodities in the market despite the wide gap in farmgate and retail prices are brought by as much as 200 percent profit of middlemen and traders, according to administration lawmakers.
A legislated minimum wage hike is the best gift that the President can give to all our workers.
HONG KONG, China — Asian markets mostly rose Tuesday, with hopes for earnings this week from tech titans helping to offset worries about the Federal Reserve's interest rate plans ahead of the release of key US growth and inflation data.