News: Peso caught up in US election frenzy

Monday, November 4, 2024

Peso caught up in US election frenzy

November 5, 2024

FOREX

Uncertainties over the US presidential elections would unlikely sink the peso to the record-low 59 level, regardless of the winner of the tight race to the White House, analysts said, although the local currency is still bound to feel some weakness this week.

By Ian Nicolas P. Cigaral

MANUFACTURING

PH factory output grew for 14th straight month in October

The country's manufacturing sector remained on the growth path, with output rising for the 14th straight month in October, and outperforming the region, according to S&P Global. The S&P Global Philippines Manufacturing Purchasing Managers' Index (PMI) came in at 52.9 in October, the 14th straight month that the index settled above the 50 mark that separates growth from decline.

By Mariedel Irish U. Catilogo

ENERGY

ERC chief returns to a Meralco rate hike dilemma

Energy Regulatory Commission (ERC) chair Monalisa Dimalanta has returned to the grind after a two-month suspension, with her focus set on mounting cases, including addressing concerns over a possible rate hike in the Manila Electric Co. (Meralco) franchise area.

By Lisbet K. Esmael

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BIZ BUZZ

Why is Facebook allowing scam promos?

Cyberscammers using deepfake videos of Elon Musk have defrauded Americans of billions of dollars, according to US media reports. Here in the PH, among the cyberscammers' favorite big-time "endorsers," especially those targeting stock market newbies, is business tycoon Teresita Sy-Coson of the SM group.

By Doris Dumlao-Abadilla

INQUIRER PLUS-EXCLUSIVE

Bulk prices growth picked up in September

The growth in wholesale prices of general goods revved up to a two-month high in September, driven by an uptick in prices of chemicals, including animal and vegetable oils and fats, according to the Philippine Statistics Authority (PSA).

By Mariedel Irish U. Catilogo

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