Business
Gov't ready with cash-based appropriation system: Diokno
February 20, 2019, 7:30 pm
MANILA -- The Duterte government is bent on implementing the cash-based budgeting system beginning this year, in an effort to modernize the country’s budget system. In his weekly “Breakfast with Ben” briefing Wednesday, Budget and Management Secretary Benjamin Diokno said they are ready to… Read More
PAL's 1st new aircraft this year arrives
February 20, 2019, 7:07 pm
MANILA -- Flag carrier Philippine Airlines' (PAL) first new aircraft for this year has arrived in Manila on Wednesday. The said aircraft carries a Love Bus logo, apparently to signify PAL's 40th year partnership with the aircraft maker, Airbus. "The Love Bus is a commemorative logo for the A350… Read More
DICT tells NTC to seek House' OK on Mislatel franchise
February 20, 2019, 6:23 pm
MANILA -- The Department of Information and Communications Technology (DICT) has taken the cautious route by directing the National Telecommunications Commission (NTC) to ensure it has the blessing of Congress before allowing Mislatel Consortium to go ahead with its operations. DICT Acting… Read More
DBP chief transferred to Landbank
February 20, 2019, 5:24 pm
MANILA -- Development Bank of the Philippines (DBP) President and Chief Executive Officer (CEO) Cecilia Borromeo has been transferred back to the Land Bank of the Philippines (Landbank), wherein she served in different capacities for 28 years until 2017. In an appointment paper dated February 15,… Read More
Comelec asked to exclude priority infra projects from ban
February 20, 2019, 4:41 pm
MANILA – Economic managers of the administration have formally asked the Commission on Elections (Comelec) to exclude at least 145 priority infrastructure projects nationwide from the ban imposed on such projects during election season. In a letter dated February 18, 2019, obtained by… Read More
PH execs Japan-bound for 7th high-level infra meeting
February 20, 2019, 4:17 pm
MANILA -- Philippine and Japanese officials are set to meet in Osaka, Japan on Thursday to discuss ways of further expanding economic cooperation between their two countries, particularly on infrastructure development and on peace-building initiatives for Mindanao. Finance Secretary Carlos… Read More
Rice prices seen to drop by at least P7 due to tariffication law
February 19, 2019, 9:49 pm
MANILA - The prices of rice are expected to decrease by P2 to P7 per kilo following the signing of the tariffication law by President Rodrigo R. Duterte, the Department of Finance (DOF) said on Tuesday. "The implementation of the rice tariffication law is vital to the national interest and it… Read More
BSP exec cites advantage of issuing debt paper
February 19, 2019, 8:43 pm
MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) ability to address any issues on domestic liquidity has been further bolstered by the amendment of the Central Bank Act. Last February 14, President Rodrigo R. Duterte signed into law the measure now called Republic Act (RA) No. 11211, which among… Read More
Peso up ahead of BOP report, PSEi slips anew
February 19, 2019, 8:41 pm
MANILA -- The Philippine peso closed higher against the greenback Tuesday but the Philippine Stock Exchange index (PSEi) went the other way as investors remained on wait-and-see mode regarding trade issues overseas. The local currency finished the day at 52.21 from 52.33 Monday, which a trader… Read More
NEDA leads crafting of rice tariffication law IRR
February 19, 2019, 7:38 pm
MANILA -- The National Economic and Development Authority (NEDA) is taking the lead in crafting the implementing rules and regulations (IRR) of the recently signed Rice Tariffication Act or Republic Act 11203, ensuring the country’s smooth and timely transition to a new rice regime. “We laud… Read More
Web, mobile app launches to hasten support services to farmers
February 19, 2019, 7:03 pm
MANILA -- The government has launched a web and mobile-based (Android) application meant to fast track interventions needed for farmers to be more productive. Director John Pagaduan, officer-in-charge of Department of Agriculture Information and Communications Technology Service (DA-ICTS), said… Read More
Rice tariffication a go by March 5 pending IRR issuance
February 19, 2019, 6:52 pm
MANILA -- Rice tariffication will be implemented by March 5 this year sans the issuance of its Implementing Rules and Regulations (IRR). Finance Secretary Carlos Dominguez III told reporters that “there are parts of the law that are clear upfront and can be implemented earlier than the parts of… Read More
Clark Airport hits record P1-B in revenues
February 19, 2019, 12:31 pm
CLARK FREEPORT ZONE, Pampanga — The gross revenues of the Clark International Airport Corporation (CIAC) reached an unprecedented PHP1.07 billion in 2018, an official of the government-run corporation said Tuesday. Jaime Alberto Melo, CIAC president, said this is the first time that CIAC was… Read More
Megaworld projects P1.5-B sales from 2nd condo tower in Bacolod
February 19, 2019, 9:29 am
BACOLOD CITY – Megaworld Corp. is projecting about PHP1.5 billion in sales from its second residential tower, Two Regis, which will rise inside The Upper East township here by 2023. The property giant launched the 14-story condominium project on Monday afternoon, six months after introducing the… Read More
D.M. Wenceslao sets P21-B capex for next 5 yrs
February 18, 2019, 8:46 pm
MANILA -- Construction and infrastructure group D.M. Wenceslao & Associates Inc. has earmarked PHP21 billion for its capital expenditure over the next five years, as it sees continued growth in demand for residential, retail and commercial spaces especially in up-and-coming business district,… Read More
DICT eyes finalizing common tower policy by Q2
February 18, 2019, 8:42 pm
MANILA -- The Department of Information and Communications Technology (DICT) announced that it is targeting to finalize its common tower policy within the second quarter of this year. The policy will enable cell tower companies to build communication infrastructures that may be leased by telcos to… Read More
Local markets begin trading week higher
February 18, 2019, 7:55 pm
MANILA -- Risk-on sentiment following the enactment of several economic measures such as the rice tariffication and Bangko Sentral ng Pilipinas (BSP) Charter amendments boosted both the peso and the Philippine Stock Exchange index (PSEi). The local currency ended the day at 52.33 from 52.43 Friday… Read More
Stronger growth for PH in 2019: AMRO
February 18, 2019, 7:22 pm
MANILA – The Philippine economy is expected to grow even stronger this year, the ASEAN+3 Macroeconomic Research Office (AMRO) indicated in its report on Monday. In its 2018 Annual Consultation Report on the Philippines, it projected that the country’s gross domestic product (GDP) will rise to… Read More
Bids for 6-month T-bills surge, rates rise across-the-board
February 18, 2019, 7:21 pm
MANILA -- The Philippines’ one-year Treasury bill (T-bill) registered undersubscription Monday, which according to a ranking Bureau of the Treasury (BTr) official was due to expectations of the retail treasury bond (RTB) issuance. BTr offered the one-year paper for PHP8 billion but bids only… Read More
ICC-CabCom approves PCC capacity building project
February 18, 2019, 7:16 pm
MANILA – The Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved last Thursday the Philippine Competition Commission’s (PCC) “Capacity Building to Foster Competition Project.” The PCC project has a total project cost of PhP1.322 billion, of which PhP1.217 billion will… Read More
