Business
BDO systems upgrade to affect e-banking services next weekend
March 17, 2019, 12:04 pm
MANILA -- Electronic banking channels of the Sy-led BDO Unibank Inc. (BDO) will be inaccessible from 10 p.m. Saturday, March 23, until 12 noon the following day due to scheduled system upgrade. In an advisory, the bank said the key systems enhancements is targeted to “deliver better electronic… Read More
Gov’t agencies urged to hold info campaigns vs. piracy
March 16, 2019, 3:25 pm
MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) is appealing to government agencies to hold seminars that will discourage their personnel from patronizing pirated goods and services, such as clothing, computer software and programs. The IPOPHL reiterated that creating… Read More
Stocks recover, peso ends week sideways
March 15, 2019, 9:56 pm
MANILA -- Philippines’ main equities gauge ended the week on a positive note but the peso finished the trade sideways as investors remain jittery as they await the eventual outcome of the US-China trade talks and developments on the British exit (Brexit). A day after another fall, the Philippine… Read More
Current account deficit not detrimental to PH: BSP official
March 15, 2019, 9:46 pm
MANILA – The country’s current account (CA) deficit rose to record-high USD7.9 billion in 2018 after imports continue to surpass exports given the strong domestic demand. However, Director Redentor Paolo Alegre Jr., of the Bangko Sentral ng Pilipinas (BSP) Department of Economic Statistics… Read More
China loan terms for PH infra projects better under Duterte admin
March 15, 2019, 9:28 pm
MANILA -- Finance Secretary Carlos Dominguez III on Friday said terms of loans extended by the Chinese government for Philippine infrastructure projects are at least 30 percent better in the current administration than in the past. Dominguez stressed this as he continued to decry claims that the… Read More
Megaworld, BCDA team up to manage Fort Bonifacio district
March 15, 2019, 6:27 am
MANILA -- Property developer Megaworld Corp. and the Bases Conversion and Development Authority (BCDA) are teaming up to jointly manage a new 160-hectare district within Fort Bonifacio that will soon house some of the major government institutions. The Bonifacio Capital District (BCD) covers… Read More
Franchise sector seen to grow 25% this year
March 14, 2019, 8:37 pm
MANILA -- The country’s franchising industry is expected to increase a whopping 25 percent to USD 31 billion this year on the back of increased consumer spending brought about by strong economic growth. “Generally, the Philippine franchise sector is thriving and actually is not only thriving… Read More
DTI opens fair for food entrepreneurs
March 14, 2019, 8:34 pm
MANILA -- The Department of Trade and Industry (DTI) - Bureau of Domestic Trade Promotion in partnership with the Department of Tourism launched on Thursday the 2019 National Food Fair (NFF) which aims to present the best Philippine food products at the SM Megatrade Hall in SM Megamall,… Read More
Brownouts to hit parts of Bulacan, Rizal, Iloilo
March 14, 2019, 8:06 pm
MANILA -- Several areas in the provinces of Bulacan, Rizal, and Iloilo will experience power interruptions on Friday and Saturday due to scheduled maintenance work on some power facilities. The Manila Electric Company (Meralco) in a tweet said portions of New Delhi, from Jerusalem to East Gate… Read More
Peso sideways, PSEi down in Thursday session
March 14, 2019, 6:59 pm
MANILA -- Analysts again cited profit-taking as one of the reasons for the sideways close of the Philippine peso Thursday, as well as the slide of the Philippine Stock Exchange index (PSEi). The local unit finished the day at 52.6 from 52.55 a day ago. A trader said there were reports that the… Read More
Tariffication to cushion dry spell's impact on rice prices
March 14, 2019, 6:30 pm
MANILA -- Agricultural production is seen to take a hit from the "mild" El Niño currently being felt in the country but its impact on rice inflation is seen to be mitigated by the Rice Tariffication Law. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA)… Read More
DA launches Summer Coco Festival
March 14, 2019, 5:34 pm
MANILA -- The Department of Agriculture (DA) on Thursday launched the Summer Coco Festival to promote the drinking of coconut water as a cool and healthy drink during the hot summer months. Agriculture Secretary Emmanuel “Manny” Piñol said the Summer Coco Festival would also boost the… Read More
CAAP probes incident involving aircraft stalled at Kalibo Airport
March 14, 2019, 5:13 pm
MANILA -- The Civil Aviation Authority of the Philippines (CAAP) is now investigating the incident involving an aircraft that got stalled at the end of runway 05/23 of the Kalibo International Airport (KIA) Wednesday night. "AIIB (Aircraft Accident Investigation Inquiry Board) officers are now… Read More
Diokno leads discussion on systemic risks to financial market
March 14, 2019, 12:58 pm
MANILA -- The Financial Stability Coordination Council (FSCC), in its quarterly meeting, welcomed its new chairman, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno, who replace the late BSP Governor and FSCC Chairman Nestor A. Espenilla Jr., who passed away last month. The new BSP… Read More
TDF bids remain high, rates decline
March 14, 2019, 12:56 pm
MANILA -- Bids for the Bangko Sentral ng Pilipinas’ (BSP) seven-day and 14-day Term Deposit Facility (TDF) declined week-on-week Wednesday but a ranking monetary official noted that bids remained higher than the offer. Data released by the central bank showed that tenders for the seven-day… Read More
Dominguez cites fast-tracking of Kaliwa Dam construction
March 14, 2019, 8:13 am
MANILA -- The construction of the New Centennial Water Source - Kaliwa Dam project is expected to be fast-tracked now that the eastern part of Metro Manila is experiencing a water crisis. “Absolutely. In fact, had this been done before, the water crisis will be much less serious or much less of… Read More
DOF exec cites need for reforms to attract more FDIs
March 13, 2019, 9:10 pm
MANILA – A ranking official of the Department of Finance (DOF) says reforms should be implemented to encourage more foreign direct investments (FDIs) and improve the country’s investment environment. In an economic bulletin dated March 13, 2019, Finance Undersecretary Gil Beltran said 2018… Read More
Osaka firms aim to make PH benchmark for economic growth
March 13, 2019, 9:08 pm
MANILA -- A Japanese business federation has invited Filipino companies to participate in the Association of Southeast Asian Nations (ASEAN) meeting slated on April 5 in Osaka, Japan, as it intends to benchmark with Philippine economic growth. This was bared by Philippine Chamber of Commerce and… Read More
DA to probe high prices of GMO corn
March 13, 2019, 9:07 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol has ordered an investigation in the reportedly high prices of hybrid corn seeds in the country. "I have ordered to investigate on the prices of hybrid corn seeds in other countries because the multi-national companies handling hybrid corn… Read More
Local markets up in midweek trading
March 13, 2019, 8:54 pm
MANILA -- Profit-taking lifted the peso against the US dollar Wednesday and the Philippine Stock Exchange index (PSEi) was buoyed by expectations of cuts in banks’ reserve requirement ratio (RRR). The local currency ended the day at 52.55 from 52.7 Tuesday, which BPI Research pointed to… Read More
