Business
DA records P1.33-B agri damage due to El Niño
March 21, 2019, 7:30 pm
MANILA -- The Department of Agriculture (DA) on Thursday reported that the "weak" El Niño currently affecting the country has already brought about some PHP1.33 billion in damages to crops. DA Undersecretary for Operations Ariel Cayanan, in an interview with the Philippine News Agency, said an… Read More
BSP keeps policy rates steady, cuts 2019 inflation forecast
March 21, 2019, 6:58 pm
MANILA -- Expectations of more moderate inflation, as well as firm domestic growth, caused the Bangko Sentral ng Pilipinas' (BSP) policy-making Monetary Board (MB) to keep key rates steady Thursday. Thus, the rate of the overnight reverse repurchase (RRP) facility is still at 4.75 percent, the… Read More
6.4% GDP growth in 2019 still possible
March 21, 2019, 4:29 pm
MANILA -- A 6 percent level growth can still be achieved by the Philippine economy this year despite the anticipated impact of the budget impasse in Congress, an official of Security Bank Corporation (Security Bank) said. In a briefing before the bank’s economic forum in Mandaluyong City… Read More
URC inaugurates Davao flour mill to meet growing demand
March 21, 2019, 4:11 pm
MANILA -- The Gokongwei-led Universal Robina Corporation (URC) has inaugurated a new mill in Davao to meet the country’s growing demand for high-grade flour. “We are bullish because we are buoyed by the prospects of the continued forecast of growth for wheat demand in the Philippines in the… Read More
Subic shoe factory to hire 1,500 more workers
March 20, 2019, 8:58 pm
SUBIC BAY FREEPORT -- Datian Subic Shoes, Inc., the manufacturer of popular shoe brands like Vans and Keds, has committed some USD6 million to expand its operations in this Freeport. Subic Bay Metropolitan Authority (SBMA) chairman and administrator Wilma T. Eisma welcomed the development, noting… Read More
Peso ends sideways; local shares recover
March 20, 2019, 8:55 pm
MANILA -- Expectations that the US Federal Reserve will take a dovish stance, at least for now, allowed the Philippine peso to close sideways against the greenback Wednesday and the Philippine Stock Exchange index (PSEi) to recover. The local currency ended the day's session at 52.81 from 52.83 a… Read More
Gov’t to save P4.2-B on Kaliwa Dam project due to China ODA
March 20, 2019, 8:12 pm
MANILA -- The Philippine government will save as much as PHP4.2 billion in the construction of Kaliwa Dam with the help of an official development assistance (ODA) loan from China compared to a private sector financing. This was pointed out by Department of Finance (DOF) Assistant Secretary and… Read More
Megaworld hikes capital spending for Cavite township to P15-B
March 20, 2019, 8:10 pm
MANILA -- Property developer Megaworld Corp. is increasing its capital spending to PHP15 billion to fast track completion of its Maple Grove township in General Trias, Cavite, and meet the growing demand from both residential and office markets in the area. “From PHP10 billion, we are increasing… Read More
Traders blamed for high sugar prices
March 20, 2019, 6:59 pm
MANILA -- It is the middlemen, traders and repackers who are jacking up the retail prices of sugar. This was the outcry of farmers and producers as they face the proposed liberalization of sugar. “As far as farm-gate price is concerned, it’s already down. We are selling at PHP1,400 per 50-kilo… Read More
PAL postpones New Delhi flights
March 20, 2019, 6:50 pm
MANILA -- Flag carrier Philippine Airlines (PAL) has announced the postponement of its New Delhi route until further notice. PAL is supposed to re-launch the New Delhi route this summer. However, the carrier announced that news about India-Pakistan border tensions prompted travelers to cancel… Read More
TDF rates mixed this week
March 20, 2019, 4:15 pm
MANILA -- The rates of Bangko Sentral ng Pilipinas' (BSP) term facilities registered mix results Wednesday ahead of the Monetary Board's (MB) much anticipated rate-setting meeting on Thursday. The average accepted yield of the 14-day Term Deposit Facility (TDF) improved to 5.1079 percent from… Read More
SSS must level-up services with contribution hike
March 20, 2019, 2:28 pm
MANILA -- With the increase in monthly contributions now inevitable following the enactment of the new SSS Law, the TUCP is expecting the SSS Board and management to provide a level-up, fast, efficient and quality service in exchange for members' increase monthly payment, TUCP President Raymond… Read More
Stakeholders' collaboration needed to add value to mining sector
March 20, 2019, 2:00 pm
MANILA -- The Philippine Nickel Industry Association (PNIA) said there is a need for collaborative efforts between stakeholders in government and the private sector to be able to explore global trends and opportunities in nickel consuming sectors. "There is so much potential for nickel, how… Read More
Nickel industry stakeholders push for investment roadmap
March 19, 2019, 9:15 pm
MANILA -- The Philippine Nickel Industry Association (PNIA) is pushing for the creation of a roadmap for the local nickel mining industry to promote investments and enhance its competitiveness in the world market. This, as the business group urges the government to create policies that will result… Read More
Dominguez cites reason for better terms of Chinese loans
March 19, 2019, 9:14 pm
MANILA -- Officials of the Philippines and China agree that amid the countries’ differences there remains a scope to strengthen tie-ups on trade and tourism. Finance Secretary Carlos Dominguez III said this is the reason for the increase in the number of infrastructure projects that China is… Read More
Local markets slip ahead of BSP, Fed meetings
March 19, 2019, 8:55 pm
MANILA -- A wait-and-see stance took over local markets on Tuesday as investors hold their breaths while waiting for the outcome of rate-setting meetings of the Bangko Sentral ng Pilipinas and the US Federal Reserve this week, resulting in a decline in both the peso and the Philippine Stock… Read More
Stricter anti-trafficking measures soon at NAIA, other airports
March 19, 2019, 7:32 pm
MANILA -- A more stringent and expanded mechanism to prevent human trafficking will be implemented very soon at the Ninoy Aquino International Airport (NAIA) and other airports, Immigration Port Operations Division chief, Grifton Medina, told the Philippine News Agency (PNA) on Tuesday. Medina… Read More
PAL announces terminal transfer of Int'l flights
March 19, 2019, 7:29 pm
MANILA -- Flag carrier Philippine Airlines (PAL) announced Tuesday it will transfer some of its international flights from Ninoy Aquino International Airport (NAIA) Terminal 2 to Terminal 1. "We want to distribute flights among the (NAIA) terminals where we operate to help minimize passenger… Read More
PH to push agenda on inclusive access to electricity
March 19, 2019, 7:29 pm
MANILA -- Electric power supply remains an issue in the Philippines but officials from the public and private sectors said this may all change for the better when the country hosts two global power-related events within the next two years. These events are the Association of Electricity Supply… Read More
BPI Family Bank eyes 15% housing loan growth in 2019
March 19, 2019, 6:53 pm
MANILA -- The continued robustness of the Philippine economy has made BPI Family Bank (BFSB) officials bullish, targeting a 15-percent growth in the bank’s housing loans in 2019. Citing a BPI study, BFSB President Ginbee Go said the top three goals of Filipino consumers is to have their own… Read More
