Business
PH is KIA's next market for Soluto
January 31, 2019, 12:15 pm
MANILA -- KIA Motors Corp. has chosen the Philippines as its next market for its sub-compact sedan, Soluto, showing its confidence in the country's automotive industry. KIA Philippines launched Wednesday evening the Soluto, aiming to compete in the small cars segment - which holds the largest… Read More
Lowering gov’t retirement age to deplete GSIS fund
January 30, 2019, 8:07 pm
MANILA -- Lowering the retirement age of government workers from 60 to 56 would deplete the state-owned pension fund 12 years earlier, top officials of Government Service Insurance System (GSIS) said Tuesday. “The effect on the GSIS fund would be that the actuarial or the fund life will be… Read More
Go vows to help expand lending programs for MSMEs
January 30, 2019, 7:32 pm
MANILA – Former Special Assistant to the President (SAP) Christopher Lawrence “Bong” Go on Tuesday vowed to help the government expand its lending program for micro, small, and medium enterprises (MSMEs). “Isusulong ko ang pagpapalawig ng kasalukuyang Pondo sa Pagbabago at Pag-asenso o P3… Read More
Gov’t to hold jobs fair for displaced Hanjin workers
January 30, 2019, 6:40 pm
MANILA -- The ‘Build, Build, Build’ team, composed of several government agencies involved in the infrastructure program, is set to hold a job fair on February 9 at the Subic Bay Freeport Zone to provide employment to displaced workers of Hanjin Heavy Industries and Construction Philippines… Read More
30-40% tariff on sugar imports eyed
January 30, 2019, 6:06 pm
MANILA -- Budget Secretary Benjamin Diokno said on Wednesday a 30 percent to 40 percent tariff rate is being eyed on sugar importation, to serve as protection for local producers while still liberalizing the industry. At the sidelines of Breakfast with Ben, Diokno said local farmers can still… Read More
Temporary fishing ban in Taal Lake pushed
January 30, 2019, 6:02 pm
MANILA -- In order to allow the "tawilis" (Sardinella tawilis) to repoplulate, an international environmental group on Wednesday proposed a temporary fishing ban for this popular delicacy, whose numbers reportedly have significantly diminished. Tawilis is the only freshwater sardine in the world… Read More
Local markets go sideways, hounded by Brexit, security issues
January 30, 2019, 5:48 pm
MANILA -- Local markets closed sideways during midweek trading, the peso managing an upward bias while the local bourse showed a more downward bias. The peso ended the day at 52.34 to the dollar, little changed from Tuesday's closing of 52.43. The local currency opened Wednesday stronger at 52.43… Read More
Social services spending peaked during PRRD admin
January 30, 2019, 3:36 pm
MANILA -- Budget Secretary Benjamin Diokno said the Duterte administration has put a premium on social services as government spending for this sector peaked under the current leadership. In a media briefing Wednesday, Diokno said the share of social services' spending in the national budget made… Read More
Transpacific Broadband seeks to be common tower provider
January 30, 2019, 1:46 pm
MANILA -- Transpacific Broadband Group International (TBGI) is eyeing to create a subsidiary that will build cell site towers to be offered to telcos for common use under lease. The subsidiary, which will be named Transpacific One Network Inc. (TONI), will be submitting a proposal to the… Read More
Economic managers to endorse infra exemption from election ban
January 30, 2019, 12:45 pm
MANILA -- Economic managers will formally endorse to President Rodrigo R. Duterte next week the exemption of infrastructure projects from the election spending ban, Budget Secretary Benjamin Diokno said Wednesday. During the weekly press event Breakfast with Ben, Diokno said economic managers will… Read More
Economic fundamentals to boost stock market: COL Financial
January 29, 2019, 9:08 pm
MANILA -- Leading online stock broker COL Financial is looking forward to the local stock market's recovery this year, as economic fundamentals and continued inflow of foreign funds are expected to fuel earnings growth. “It’s really fund flows and fundamentally-driven. In a way, earnings… Read More
Megaworld sets P65-B capital spending for 2019
January 29, 2019, 8:29 pm
MANILA – Megaworld, a leading developer of integrated urban townships, announced that it has allocated PHP65 billion in capital spending this year, mainly for residential, office and mall projects across its township developments, as well as for land acquisition and investment properties. Some… Read More
Privacy watchdog probes Globe data breach
January 29, 2019, 7:51 pm
MANILA -- The National Privacy Commission (NPC) is conducting its investigation on the data breach involving Globe Telecom, which may have put at risk the personal information of 8,851 subscribers. The incident occurred a few days ago after Globe customers were asked to register on its ‘On the… Read More
Standard Chartered Bank economist eyes 6.4% GDP growth
January 29, 2019, 7:49 pm
MANILA -- A Standard Chartered Bank economist expects more mileage from the Philippine economy in 2019, with a print of 6.4 percent from last year’s 6.2 percent, through the help of consumption and infrastructure investments. In a briefing Tuesday, Standard Chartered Bank economist for Asia… Read More
Sugar import liberalization seen to benefit consumers
January 29, 2019, 7:45 pm
MANILA -- Budget Secretary Benjamin Diokno on Monday said that while the planned liberalization of sugar imports would negatively affect local producers, this would benefit a greater number of consumers. “There are more consumers than sugar producers,” Diokno said in an SMS message to the… Read More
Peso recovers; local shares move sideways
January 29, 2019, 6:05 pm
MANILA -- The Philippine peso regained its footing against the greenback Tuesday, while the Philippine Stock Exchange index (PSEi) moved sideways with a downward bias, reportedly weighed down by negative news overseas. The local currency ended the day at 52.43 from 52.57 a day ago. It opened… Read More
Faster economic growth seen in 2nd semester
January 29, 2019, 6:02 pm
MANILA -- The country’s gross domestic product (GDP) is expected to accelerate in the second half of the year, ING Bank Country Head Hans Sicat said. In a briefing by the European Chamber of Commerce of the Philippines Tuesday, the former president and chief executive of the Philippine Stock… Read More
ASEAN urged to boost integration
January 29, 2019, 5:59 pm
MANILA -- Policymakers in the 10-member states of the Association of Southeast Asian Nations (ASEAN) are being urged by their counterparts from the European Union (EU) to boost regional integration to counter the decline in intra-ASEAN trade, as well as global economic pressures. In a briefing… Read More
CIMB eyes at least 100K clients thru mobile app
January 29, 2019, 4:34 pm
MANILA -- An official of CIMB Bank Philippines, Inc. (CIMB Philippines) is optimistic about having at least 100,000 clients by July, with plenty of help from the bank’s mobile application, as it vies to be the country’s first all-digital and mobile-first financial institution. In an interview… Read More
Office lease rate in NCR gets more expensive
January 29, 2019, 3:29 pm
MANILA -- Office spaces in Metro Manila are getting more expensive as shown by the latest report of property consultancy services company Santos Knight Frank, which revealed that the weighted average for leasing such facilities has now breached the PHP1,000 per square meter (sq.m.) mark. In a… Read More
