Business
Inflation, Fed statements boost T-bill rates
February 11, 2019, 6:31 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday as investors continue to expect a sustained deceleration in domestic inflation while drawing added confidence from the US Fed's statement that there is no rush to hike rates again. Average rate of the benchmark… Read More
SM Prime nets P32.2-B in 2018
February 11, 2019, 5:42 pm
MANILA -- SM Prime Holdings Inc. (SM Prime), one of the largest integrated property developers in Southeast Asia, booked a 17-percent increase in profit last year, driven largely by the strong performance of its shopping malls and residential businesses. SM Prime told the local bourse on Monday… Read More
AirAsia urges early bookings ahead of system enhancements
February 11, 2019, 5:20 pm
MANILA -- AirAsia on Monday advised its passengers to manage their flight bookings ahead of system enhancements scheduled this weekend. The budget carrier will upgrade its Navitaire New Skies reservation system from Feb.16, 2 p.m., until 3.a.m. of February 17. "This (system upgrade) will apply… Read More
BOI-approved investments jump 91% in January
February 11, 2019, 4:48 pm
MANILA -- The Board of Investments (BOI) began the year with a 91-percent increase in investment approvals for the month of January, the country’s top investment promotion agency reported Monday. BOI said project registration for the first month of the year jumped to PHP97.9 billion from only… Read More
Dominguez cites Japan's strong support for infra program
February 11, 2019, 2:26 pm
DAVAO CITY — Finance Secretary Carlos Dominguez III has underscored the "generous support" extended by Japan in helping jumpstart the Philippines’ ambitious “Build, Build, Build” infrastructure program, which is crucial to the fulfillment of President Rodrigo Duterte's high and inclusive… Read More
PH bans pork from Japan due to swine fever
February 10, 2019, 2:35 pm
MANILA -- The Department of Agriculture (DA) on Sunday imposed a ban on the entry of pork and other pork products from Japan due to African Swine Fever (ASF). “At 12 noon today, I have alerted the Bureau of Animal Industry (BAI) through (DA) Undersecretary for Policy and Planning Segfredo… Read More
PAL, ANA to explore mutual cooperation
February 9, 2019, 10:47 am
MANILA -- Flag carrier Philippine Airlines (PAL) and All Nippon Airways (ANA) are set to explore a mutual cooperation. Celebrating their partnership, PAL officials went to ANA's headquarters in Tokyo on Friday. Both carriers pledged their commitment to work together and lift each other up. Michael… Read More
PH, US urged to boost collaboration in technology, innovation
February 8, 2019, 9:45 pm
MANILA -- Stakeholders in the Philippines and United States are being urged to be more aggressive in looking for areas of possible collaboration in the technology and innovation sector. In a forum in Makati City on Friday, QBO Innovation Hub Executive Director Katrina Chan said the Philippines can… Read More
Diokno calls bribe allegations 'absolutely false'
February 8, 2019, 9:24 pm
MANILA -- Budget Secretary Benjamin Diokno said Friday the allegation that he bribed lawmakers with PHP40 billion in government savings is “absolutely false.” “It is again one of his wild and baseless accusations,” Diokno said in a statement in reaction to the latest claims by House of… Read More
Peso gains; PSEi pulls back as trading week closes
February 8, 2019, 7:20 pm
MANILA -- The Philippine peso ended Friday's session better against the US dollar amid external volatilities but the Philippine Stock Exchange index (PSEi) surrendered to bearishness. The local unit finished the trading week at 52.07 from Thursday’s 52.24 close. It opened the day at 52.175 from… Read More
Source code for May 2019 polls in 'very safe place': Tolentino
February 8, 2019, 6:54 pm
MANILA -- Commission on Elections (Comelec) Executive Director Jose Tolentino Jr. on Friday assured the electorate that the source code for this year’s mid-term elections is out of the grasp of cheaters. In a briefing at the Bangko Sentral ng Pilipinas (BSP), he explained that one has to… Read More
ADB debuts in offshore PH peso bond market
February 8, 2019, 5:10 pm
MANILA -- The Asian Development Bank (ADB) has raised PHP5.2204 billion (USD100 million) from a new issue of local currency bonds in the international market. In a statement Friday, the ADB issued bonds in the Philippine domestic capital market in 2005 and 2007 but the day’s issue is the first… Read More
Cut in BSP key rates by midyear becoming more likely
February 7, 2019, 9:14 pm
MANILA -- Expectations of a cut in Bangko Sentral ng Pilipinas’ (BSP) key policy rates by May this year received further credence following the reduction in inflation forecasts for 2019 and 2020. In a report Thursday, ING Bank Manila senior economist Nicholas Mapa projects the central bank’s… Read More
Local shares recover; peso little changed on Thursday
February 7, 2019, 8:43 pm
MANILA -- As the market digests news of stabilizing inflation, the main equities index came back to life on Thursday while the peso was almost unchanged. After a two-day slide, the Philippine Stock Exchange index (PSEi) recovered and gained 0.52 percent, or 41.85 points, to 8,100.30 points. BPI… Read More
BSP keeps rates steady; cuts inflation forecasts
February 7, 2019, 8:29 pm
MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Thursday decided to keep key policy rates steady, in apparent expectation of a more manageable inflation environment. Thus, the overnight reverse repurchase (RRP) rate remains at 4.75 percent and rates of… Read More
DICT signs MOU with Aboitiz for rollout of cell towers
February 7, 2019, 8:23 pm
MANILA -- The Department of Information and Communications Technology (DICT) has signed Thursday a Memorandum of Understanding (MOU) with Aboitiz Infracapital to build common towers that may be leased to any telco firm that needs additional facilities. DICT Acting Secretary Eliseo Rio Jr. said the… Read More
Piñol leads turnover of solar powered irrigation system
February 7, 2019, 7:32 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol on Thursday led the ceremonial turnover of a Solar-Powered Irrigation System (SPIS) to the Caridad Norte and Sur Irrigators’ Association in Llanera, Nueva Ecija. “This is the fulfillment of a promise we made last April 2017,” Piñol… Read More
PH economy at its best shape since mid-‘70s: Pernia
February 7, 2019, 7:07 pm
BAGUIO CITY -- Socioeconomic Planning Secretary Ernesto Pernia said Thursday the Philippine economy has been growing by at least 6 percent for more than three consecutive yearslready, which is the strongest economic growth since the mid-1970s. “The Philippine economy became stronger and even… Read More
TUCP asks PRRD to push passage of Security of Tenure Bill
February 7, 2019, 4:51 pm
MANILA -- Trade Union Congress President (TUCP) Raymond Mendoza appealed to President Rodrigo Duterte to "lead from the front", on behalf of the estimated 20 million contractual workers who are awaiting passage of the Security of Tenure bill, by calling upon Senators to immediately pass the… Read More
Senate move to block sugar import liberalization hailed
February 7, 2019, 3:01 pm
MANILA -- Stakeholders on Thursday welcomed the Senate resolution urging the Executive Department "not to pursue the planned liberalization of the sugar industry." "We are very thankful that our senators closed ranks with us. This just shows they understand the plight of the sugar industry and its… Read More
