Business
Hyundai Q4 net up 29%, eyes 4%-5% sales growth this 2024
January 25, 2024, 5:04 pm
SEOUL – South Korea's Hyundai Motor Co. on Thursday set a 4 percent to 5 percent sales growth target for this year, after it posted a 29 percent on-year jump in the fourth quarter on high-end models. Net profit for the three months ending Dec. 31 rose to 2.2 trillion won (USD1.6 billion) from… Read More
LandBank backs Iloilo market vendors with QR payments
January 25, 2024, 3:45 pm
MANILA – State-owned Land Bank of the Philippines (LandBank) recently equipped Iloilo City’s public market store owners with the capacity to accept digital payments as part of the government's commitment to make cashless transactions more accessible. In a statement on Thursday, LandBank said… Read More
PH auto sales possible to hit 500K in 2024
January 25, 2024, 2:30 pm
MANILA – The Philippine automotive vehicle sector may cross the 500,000-unit sales in 2024, a target set back in 2017. Chamber of Automotive Manufacturer of the Philippines, Inc. (CAMPI) president Rommel Gutierrez said in a recent interview that reaching the 500,000 units sales this year is… Read More
Foreign investors lift PH shares, peso weak
January 24, 2024, 7:57 pm
MANILA – Foreign investors helped the local shares rally on the third day of the week, while the Philippine peso depreciated on mid-week's trading. On Wednesday, the Philippine Stock Exchange index (PSEi) continued to gain for three straight trading days, up by 58.08 points to 6,679.96, with All… Read More
DICT partners with healthcare platform to bring services to Tawi-Tawi
January 24, 2024, 7:51 pm
MANILA – The Department of Information and Communications Technology (DICT) has partnered with mWell, the healthcare technology platform developed by Metro Pacific Investments Corporation (MPIC), and Huawei to provide telemedicine services to residents of Turtle Islands in Tawi-Tawi. In a… Read More
PBBM’s economic czar wants more firms to go listed
January 24, 2024, 7:51 pm
MANILA – Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) Secretary Frederick Go eyes to simplify requirements and reduce the cost of going publicly listed to boost the country’s capital market. During the Economic and Ease of Doing Business… Read More
Recto backs Senate bill for MUP pension reform
January 24, 2024, 7:49 pm
MANILA – Finance Secretary Ralph Recto on Wednesday expressed support to a Senate bill which seeks to reform the military and uniformed personnel's (MUP) pension system. "My personal stand is the same as the position now in the Senate," Recto said in a briefing at the Bureau of Customs office in… Read More
Toyota targets to complete P5.5-B investments by Q3
January 24, 2024, 7:00 pm
MANILA – The local business unit of Japanese carmaker Toyota targets to complete its PHP5.5 billion investments in the Philippines by the third quarter of 2024. Toyota Motor Philippines (TMP) chairman Alfred Ty told reporters in a media event Tuesday evening that the company will fulfill its… Read More
Local production, importation keep pork supply ample despite ASF
January 24, 2024, 6:23 pm
MANILA – Local hog raisers have assured consumers of steady supply of pork despite a notable decline in the country’s swine inventory after almost five years of battling African swine fever (ASF). In an interview with the Philippine News Agency on Wednesday, Rolando Tambago, president of the… Read More
DOF chief: No new taxes this year
January 24, 2024, 5:02 pm Updated on January 25, 2024, 7:36 pm
MANILA – The government will not rely on the imposition of new taxes to meet its revenue target for this year and will instead focus on improving the collection efficiency of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC), Department of Finance (DOF) Secretary Ralph Recto… Read More
Restoring IPAs’ power, longer sunset provision eyed
January 24, 2024, 4:52 pm
MANILA – President Ferdinand R. Marcos Jr.’s economic czar is taking major steps to further improve the investment climate in the country by addressing the concerns of both local and foreign investors. Office of the Special Assistant to the President for Investment and Economic Affairs… Read More
Local shares mirror upbeat US markets, rosy BPO outlook; strong peso
January 23, 2024, 8:00 pm
MANILA – Both local shares and currency improved on Tuesday's trading mirroring upbeat United States markets and supported by the rosy outlook of the Philippine business process outsourcing (BPO) industry. The benchmark Philippine Stock Exchange index (PSEi) reverted to 6,600 level, gaining by… Read More
Bank of Japan continues to implement ultra-loose monetary policy
January 23, 2024, 7:50 pm
ISTANBUL – Bank of Japan (BoJ) on Tuesday decided to continue its ultra-loose monetary policy by keeping interest rate at minus 0.1 percent. It will purchase "a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero… Read More
BSP: PH banking system remains sound
January 23, 2024, 7:41 pm
TAGAYTAY – The Bangko Sentral ng Pilipinas (BSP) said banks remain optimistic with growth projections in assets, loans, and deposits. In a media information session over the weekend, BSP deputy governor Chuchi Fonacier said that based on the latest banking sector outlook survey, respondent banks… Read More
Trend Micro calls for adoption of modern security controls
January 23, 2024, 7:08 pm
MANILA – Global cybersecurity firm Trend Micro Inc. on Tuesday urged enterprises and the government to use modern security controls amid the anticipated proliferation of more cyberattacks. At a press briefing at the New World Hotel in Makati City, Trend Micro Philippines senior security… Read More
PEZA partners with banks to lure more Japanese investors
January 23, 2024, 6:18 pm
MANILA – The Philippine Economic Zone Authority (PEZA) aims to continue attracting Japanese investors into ecozones by partnering with Sumitomo Mitsui Banking Corp. (SMBC) and the Rizal Commercial Banking Corp. (RCBC). PEZA Director General Tereso Panga, SMBC managing executive officer and… Read More
BTr fully awards Treasury bonds
January 23, 2024, 5:44 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the new 10-year Treasury bonds (T-bonds). The coupon rate was set at 6.25 percent, which is broadly in line with prevailing secondary market levels. The auction received strong demand, as total submitted bids amounted to PHP102.2… Read More
PH halal blueprint targets to double output by 2028
January 23, 2024, 4:30 pm
MANILA – The Department of Trade and Industry (DTI) launched Tuesday the Philippine Halal Industry Development Strategic Plan, which aims to turn the Philippines into a premier halal hub in the Asia Pacific region by 2028. At the launching of the halal industry development blueprint in Pasay… Read More
NEDA urges Congress to pass crucial bills
January 23, 2024, 3:42 pm
MANILA – The National Economic and Development Authority (NEDA) on Tuesday urged Congress to pass crucial bills as the 19th Congress resumed its second regular session on Monday. In a statement, the NEDA said these measures include the bills on the Department of Water Resources, Open Access in… Read More
BSP’s Monetary Board OKs $3.32-B foreign borrowings in Q4 2023
January 22, 2024, 7:59 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said Monday the Monetary Board has approved USD3.32 billion worth of medium- to long-term (MLT) foreign borrowings in the fourth quarter of 2023. The public sector’s foreign borrowings from October to December 2023 jumped by 65.8 percent from the… Read More
