Business
Local markets bounce back Tuesday
March 26, 2019, 8:25 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the peso recovered on Tuesday after starting the week with losses. PSEi recovered 0.56 percent, 44.01 points, to 7,907.03 points, which Regina Capital Managing Director Luis Limlingan traced to bargain hunting. “This happened while… Read More
BTr fully awards 7-year T-bond
March 26, 2019, 8:23 pm
MANILA -- The Bureau of the Treasury’s (BTr) auction committee on Tuesday made a full award of the seven-year Treasury bond on the back of high demand and drop in rates. It offered the debt paper for PHP20 billion but tenders reached more than three times that amount at PHP73.69 billion. Rate of… Read More
DOTr sets April 30 deadline in talks with NAIA Consortium
March 26, 2019, 8:02 pm
MANILA -- The Department of Transportation (DOTr) is eyeing to drop its negotiations with a consortium that is planning to rehabilitate the Ninoy Aquino Aquino International Airport (NAIA) if no deal is reached by April 30. DOTr Secretary Arthur Tugade said the talks with the NAIA Consortium have… Read More
Public's need for more access to financial system stressed
March 26, 2019, 7:37 pm
MANILA -- Strong tie-ups between the public and private sectors and better infrastructure would ensure the inclusion of more people into the formal banking system, increasing their access to finance, especially with the help of technology. This idea was stressed by regulators and market players… Read More
Korean Air to launch new routes this summer
March 26, 2019, 5:51 pm
MANILA -- South Korean flag carrier, Korean Air (KE), on Tuesday announced new routes and additional flight frequencies beginning summer. Increasing flight frequencies are also due to the resumption of flights that do not operate during winter, it added. Starting March 31, KE's flights… Read More
Review PH credit history before ranting, China loan critics told
March 26, 2019, 5:09 pm
MANILA -- Government critics must first look at the Philippines’ credit history and fiscal position before ranting about the perils of securing infrastructure loans from China. Department of Finance (DOF) Assistant Secretary Antonio Joselito Lambino II on Monday insisted that worst-case… Read More
Manila Water to implement bill waiver scheme
March 26, 2019, 1:58 pm
MANILA -- In a move to placate customers, who recently experienced water shortages, the Manila Water Company, Inc. (MWCI) on Tuesday announced a "voluntary and one-time waiver scheme" that would be reflected in the April bill. "We understand the profound frustration that our customers in the East… Read More
Hospital group, DAR partner to acquire farmers' produce
March 26, 2019, 12:17 pm
MANILA -- A health care cooperative foundation signed a deal with the Department of Agrarian Reform (DAR) on Saturday to directly source food products for their partner-hospitals nationwide, and increase the income of agrarian reform farmers. The Medical Mission Group Hospitals and Health Services… Read More
Expanded maternity leave to cut SSS actuarial life by 1 year
March 25, 2019, 9:12 pm
MANILA -- The Expanded Maternity Leave law is estimated to shorten the Social Security System’s (SSS) fund life by one year if a contribution hike is not imposed to correct this situation. The law, which took effect this month, is projected to increase SSS’ maternity benefit disbursements from… Read More
Supermarkets to ensure availability of NFA rice
March 25, 2019, 8:40 pm
MANILA -- The Philippine Amalgamated Supermarkets Association (PAGASA) vowed that it will ensure that subsidized rice from the National Food Authority (NFA) will be made more available in supermarkets across the country. This as PAGASA expressed confidence that the rice tariffication policy of the… Read More
Bottled water, juices to get more expensive this summer
March 25, 2019, 7:30 pm
MANILA -- Prices of bottled water drinks and fruit juices are expected to go up during the summer, according to the Philippine Amalgamated Supermarkets Association Inc. (PAGASA). PAGASA President Steven Cua explained that demand for liquid drinks is likely to increase as consumers buy these… Read More
Local markets sink on US growth jitters
March 25, 2019, 7:19 pm
MANILA -- Risk-off sentiments were high in the Philippines’ foreign exchange and equities markets Monday due to lingering concerns about the US economy. The peso ended the day at 52.52 from 52.32 Friday last week, which a trader said was in keeping with the trend in the region. This, as concerns… Read More
BTr partially awards 91-day T-bill
March 25, 2019, 7:05 pm
MANILA -- Demand for higher tenor Treasury bills (T-bills) resulted in the full award of both the 182-day and 364-day papers Monday but only a partial award of the 91- day securities. The Bureau of the Treasury’s (BTr) auction committee awarded PHP6 billion worth of 182-day T-bill and PHP8… Read More
SMC breaks ground on Quezon toll road
March 25, 2019, 6:02 pm
MANILA -- San Miguel Corporation (SMC), through its South Luzon Tollway Corporation (SLTC), is breaking ground on the 66.74-kilometer South Luzon Expressway Toll Road 4 (TR-4) that will significantly reduce travel time to and from the provinces of Laguna and Quezon. “Cavite and Laguna were… Read More
Another hike in pump prices set Tuesday
March 25, 2019, 6:01 pm
MANILA -- Local pump prices are set to rise again on Tuesday (March 26) as oil supply in the global market dips due to more production cuts. At least three oil companies have already announced that their gasoline products will increase by 65 centavos per liter and diesel by 10 centavos per liter… Read More
Smart cited for offering fastest download speed in PH
March 25, 2019, 5:32 pm
MANILA -- PLDT wireless subsidiary, Smart Communications, has been recognized by a German technology consultancy firm to have the fastest download speed in the country today. In a statement on Monday, Smart said it was awarded by P3 Communications GmbH for gaining the highest download speed score… Read More
Inter-agency task force fast-tracks list of foreign POGO workers
March 25, 2019, 2:28 pm
MANILA -- An inter-agency task force formed to monitor the number of foreign nationals employed in Philippine offshore gaming operations (POGOs) is fast-tracking measures to finalize a complete list of these workers with the goal of collecting an estimated PHP22 billion or more yearly in income… Read More
SteelAsia exports to Canada
March 24, 2019, 8:00 pm
MANILA — Philippine-made steel products have penetrated the Canadian market, with the country’s largest steelmaker SteelAsia Manufacturing Corp. shipping reinforcing bars or rebars to the North American country. In a statement on Sunday, SteelAsia said this is the first export of the company… Read More
PAL system upgrade successful
March 24, 2019, 7:29 pm
MANILA -- Flag carrier Philippine Airlines (PAL) said its system upgrade was successful as of 3 p.m. Sunday. “We are very pleased with the successful transition to (PAL's) new passenger services system, Amadeus Althea Suite. All direct channels -- internet booking engine, ticketing offices,… Read More
PAL announces system upgrade this weekend
March 23, 2019, 4:39 pm
MANILA -- Flag carrier Philippine Airlines (PAL) announced Saturday that it will undergo a system upgrade until Sunday. Online check-in, booking, re-booking and redemption of "Mabuhay Miles" will be temporarily unavailable during this period. Passengers are advised to bring an e-copy of their… Read More
