Business
TDFs post oversubscription, rates rise across-the-board
February 13, 2019, 4:15 pm
MANILA -- The rates of all the Term Deposit Facility (TDF) tenors increased Wednesday as all facilities received above-offered bids. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that rate of the seven-day TDF rose to 5.1565 percent from 5.1411 percent during the auction last… Read More
2019 nat'l budget ready by Q1: Diokno
February 13, 2019, 3:48 pm
MANILA -- The Department of Budget and Management (DBM) has assured that the 2019 national budget will be enacted before the end of the first quarter. In his weekly press event "Breakfast with Ben", Budget Secretary Benjamin Diokno said Congress has promised to submit the 2019 General… Read More
Local factors seen to drive growth in 2019
February 12, 2019, 8:41 pm
MANILA -- Local factors will contribute substantially to the Philippines' growth story this year and the expected growth slowdown in the first half of the year may prompt monetary officials to start cutting rates. In his presentation during the 2019 ING Financial Markets Annual Research roadshow… Read More
Cebu Pacific unveils 1st travelers lounge at Mall
February 12, 2019, 8:39 pm
MANILA -- Local carrier Cebu Pacific (CEB) on Tuesday unveiled its first travelers lounge at the Resorts World Manila (RWM), enabling passengers with flights at the Ninoy Aquino International Airport (NAIA) Terminal 3 to check in there."This is the first satellite check-in (lounge) of CEB. This… Read More
Rice tarrification a commitment to WTO: Piñol
February 12, 2019, 8:17 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol said the proposed rice tariffication measure, which is expected to be signed into law by President Rodrigo Duterte sometime soon, is a commitment of the country to the World Trade Organization (WTO). "The DA has very clear position to support… Read More
Stakeholders seek review of SIDA, PhilSuCor revival
February 12, 2019, 8:00 pm
MANILA -- Sugar stakeholders ended their two-day summit Tuesday amid calls for a review as to how the Sugar Industry Development Act (SIDA) funds were spent as well as for revival of the Philippine Sugar Corporation (PhilSuCor). Agriculture Secretary Emmanuel "Manny" Piñol, at the sidelines of… Read More
Capacity building, boosting output to improve exports: Lopez
February 12, 2019, 7:47 pm
MANILA -- Stakeholders need to focus on capacity building and revitalizing the local manufacturing sector in order to counter the foreseen slowdown in exports, the country’s top trade official said. Department of Trade and Industry (DTI) Secretary Ramon Lopez told reporters Tuesday that the… Read More
Peso stays firm but local stocks sunk by profit-taking
February 12, 2019, 7:45 pm
MANILA -- Foreign investment inflows continue to back the Philippine peso amid the risk-off sentiment triggered by the meeting between US and Chinese officials in Beijing this week, which in turn, disadvantaged the equities index. The local currency ended Tuesday at 52.075 from 52.11 Monday, which… Read More
Incentives menu in TRABAHO Bill better than status quo
February 12, 2019, 7:20 pm
MANILA -- The incentives offered under the Tax Reform for Attracting Better and High-Quality Opportunities (TRABAHO) Bill are better than perks offered currently by investment promotion agencies (IPAs), an official from the Department of Finance (DOF) said. During the forum of Italian Chamber of… Read More
Analyst eyes single digit imports growth for PH
February 12, 2019, 7:00 pm
MANILA -- An economist of ING Bank Manila has forecast a single-digit growth for Philippine imports in 2019, down from last year’s 13.4 percent expansion, factoring in the possible impact of the 175 basis points increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates last year. Citing… Read More
Singapore inspectors visit local hog, poultry, fruit farms
February 12, 2019, 5:50 pm
MANILA -- Two technical teams from Singapore's Agriculture and Veterinary Agency (AVA) are in town for a 10-day on-site inspection of local vegetable and fruit farms as well as hog, poultry and egg farms, as the Philippines prepares to export agricultural products to its rich ASEAN neighbor.… Read More
Globe’s net income up 22% in 2018
February 12, 2019, 5:35 pm
MANILA -- Net income of Globe Telecom reached PHP18.45 billion in 2018, which represents a 22 percent increase year-on-year over PHP15.08 billion the year before, due to strong demand for its data-related services. Its consolidated service revenues for last year amounted to PHP140.23 billion… Read More
External headwinds dampen trade performance in December
February 12, 2019, 5:27 pm
MANILA — As external challenges remain in the region, merchandise trade growth in the Philippines and in most Asian economies softened in December 2018, the National Economic and Development Authority said. “Merchandise trade in all the monitored Asian economies continued to weaken in the last… Read More
PH will always be an agri country: PRRD
February 12, 2019, 3:23 pm
MANILA -- President Rodrigo Duterte told farmers in Mindanao that the Philippines will always be an agricultural country and therefore his administration will go all out in supporting them. According to Agriculture Secretary Emmanuel “Manny” Piñol, the President made the statement Monday… Read More
AAA Equities to launch online stock trading platform
February 11, 2019, 8:50 pm
MANILA -- A stock brokerage will introduce in March a new online trading platform which will allow investors to automatically take profits and reduce losses amid the expected bullishness of the local bourse this year. “For example, traders will be able to automatically send a sell order for a… Read More
Peso touches 51-level vs. USD; local shares slip
February 11, 2019, 7:37 pm
MANILA -- Investors decided to stay at the sidelines Monday, resulting in the sideways closing of the Philippine peso and the decline of the Philippines' main stocks index. The local currency finished the week’s first trading day at 52.11 from 52.07-close Friday last week. A trader said all eyes… Read More
Consumer group seeks transparency in power rate adjustments
February 11, 2019, 7:33 pm
MANILA -- Consumer group Laban Konsyumer, Inc. (LKI) is asking the Energy Regulatory Commission (ERC) to be more transparent in its decision-making regarding power rate adjustments while at the same time ensuring that such price changes are in compliance with government guidelines. LKI President… Read More
Gov’t still studying RTB issuance
February 11, 2019, 7:10 pm
MANILA – Officials of the Bureau of the Treasury (BTr) have yet to firm up plans concerning the issuance of retail treasury bonds (RTBs) in the near-term as they continue to monitor the direction of interest rates, among other factors. National Treasurer Rosalia De Leon told journalists Monday… Read More
PH to send trade mission to Russia
February 11, 2019, 6:33 pm
MANILA -- The Department of Agriculture (DA) is organizing a trade mission in hopes of penetrating the huge and previously unexplored market of Russia as well as other member countries of the Russian Federation. Agriculture Secretary Emmanuel "Manny" Piñol said the trade mission will include… Read More
Oil prices to move up again Tuesday
February 11, 2019, 6:32 pm
MANILA -- Local oil companies announced that they will raise prices of their products on Tuesday, albeit by a relatively modest amount this time. In separate messages, the oil firms said they will increase diesel prices by PHP0.55 per liter, gasoline prices by PHP0.90 per liter, and kerosene by… Read More
