Business
PH urged to boost innovation capabilities amid Industry 4.0
January 18, 2019, 8:22 pm
MANILA -- Filipinos need to upgrade their innovation capabilities, especially those in the corporate sector, to ready themselves in harnessing the potential of the Fourth Industrial Revolution (FIRe). Dr. William Maloney, chief economist for Equitable Growth, Finance and Institutions of the World… Read More
PSEi retakes 8,000-pt level, peso loses at trading week's end
January 18, 2019, 7:30 pm
MANILA -- The local stock market once again hit the 8,000-point level, reportedly inspired by a healthy United States market, which gained for three straight days. The Philippine Stock Exchange index (PSEi) closed the week at 8,047.12 points, up by 119.92 points or 1.51 percent. All shares also… Read More
DOF destroys seized cigarette-making machines
January 18, 2019, 7:15 pm
PORAC, Pampanga -- Finance Secretary Carlos Dominguez III underscored the need for heightened government vigilance against the illicit manufacture and sale of tobacco products, given that the increase in “sin” taxes has incentivized illegal traders to increasingly resort to smuggling and tax… Read More
Inflation averages 5.2% in 2018: BSP
January 18, 2019, 2:02 pm
MANILA -- The Philippines' average inflation last year settled above the 2018 inflation target range, even as price pressures eased during the fourth quarter, the Bangko Sentral ng Pilipinas (BSP) revealed in its latest quarterly report released Friday. Year-on-year headline inflation moderated to… Read More
D&L Industries renews ISO accreditation
January 17, 2019, 8:52 pm
MANILA -- Chemical and food ingredient manufacturer D&L Industries has renewed its International Organization for Standardization (ISO) accreditation, as it looks to expand its export capability. “With the accreditation, analyses performed by D&L’s analytical laboratory comply with… Read More
Peso weaker, local shares move up Thursday
January 17, 2019, 7:59 pm
MANILA -- Local markets went their own direction as the Philippine peso weakened while the Philippine Stock Exchange index (PSEi) gained strength on Thursday’s trading. Tracking the movements in regional markets, the peso ended the day at 52.41 to the US dollar, weaker by PHP0.28 from… Read More
DTI slaps P8.40 per bag provisional duty on imported cement
January 17, 2019, 6:46 pm
MANILA -- The Department of Trade and Industry (DTI) has taken a firm step to protect local cement manufacturers in the wake of reports that imported cement has been flooding the local market in recent months. DTI Secretary Ramon Lopez on Thursday said his agency will impose a provisional… Read More
CEZA revenues surge to P706-M in 2018
January 17, 2019, 6:00 pm
MANILA -- The Cagayan Economic Zone Authority (CEZA) reported that it closed 2018 with a total of PHP706.5 million in revenues, representing an upward surge of 203 percent from only PHP233.1 million in 2017. CEZA's revenues were greatly boosted by its services income, which ballooned to PHP682.3… Read More
USD10-B investment possible with political, economic stability
January 17, 2019, 5:37 pm
MANILA -- With political and economic stability, the Philippines is projected to generate foreign direct investments (FDI) amounting to more than USD10 billion this year, the Joint Foreign Chambers of the Philippines (JFC) said. In a statement Thursday, JFC said foreign multinational and small… Read More
50K additional cell sites needed to improve services: DICT
January 17, 2019, 5:09 pm
MANILA -- The Philippines needs at least 50,000 more cell towers in operation to truly improve the delivery of telecommunication services, according to the Department of Information and Communications Technology (DICT). DICT Acting Secretary Eliseo Rio Jr. said his office has taken the initiative… Read More
ERC seeking ISO accreditation for meter testing lab
January 17, 2019, 3:00 pm
MANILA -- The Energy Regulatory Commission (ERC) announced that it is seeking to secure an International Organization for Standardization (ISO) accreditation for its meter testing laboratory in order to gain international acceptance and recognition of its testing and calibration results. “The… Read More
Budget hotel chain RedDoorz expanding to PH
January 17, 2019, 2:40 pm
MANILA -- Singapore-based budget hotel chain RedDoorz is set on an aggressive expansion in the Philippine market, eyeing to be located in 250 properties in major cities in the country this year. RedDoorz Chief Operating Officer Rishabh Singhi said in an interview Thursday that the company sees… Read More
Importers no threat to local cement manufacturers
January 16, 2019, 8:10 pm
MANILA -- Cement importers insisted that they do not pose sufficient threat to the market position of local cement manufacturers, saying calls for additional safeguard duties against them are not warranted. In a briefing Wednesday, Philcement Corp. president and chief executive officer Eduardo… Read More
Spain offers 300-M euro funding for PH infra, tourism projects
January 16, 2019, 7:33 pm
MANILA -- Finance Secretary Carlos Dominguez III on Wednesday welcomed Spain’s offer of a financing facility of up to 300 million euros to support government projects in the areas of infrastructure, agro-food and tourism. Spanish Ambassador-Designate Jorge Moragas informed Dominguez during their… Read More
Duterte economic program gains early momentum: Diokno
January 16, 2019, 5:40 pm
MANILA -- President Rodrigo Duterte gained his momentum early as far as driving the economy forward in the first two years of his term, Department of Budget and Management (DBM) Secretary Benjamin Diokno said in a briefing Wednesday. Diokno said the first two years of an administration is usually… Read More
Local markets lose in midweek trading
January 16, 2019, 5:39 pm
MANILA -- News concerning two major listed firms' current woes hurt the Philippine Stock Exchange index (PSEi) Wednesday while the Philippine peso was not spared from investors' risk-aversion either. The Philippine Stock Exchange index (PSEi) slipped for the second consecutive day and ended at… Read More
TDF rates, bid coverage ratio decline
January 16, 2019, 4:08 pm
MANILA -- Both the rates and bid coverage ratio of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) fell across-the-board Wednesday as investors became more cautious over fresh volatilities in the financial market. The rate of the seven-day facility dropped to 5.0638 percent from… Read More
Diokno confident Congress will pass 2019 budget before recess
January 16, 2019, 3:06 pm
MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno is confident that the proposed 2019 national budget will be passed by Congress before it goes into recess next month. Diokno said in a briefing Wednesday that Congress is likely to pass the 2019 budget ahead of the… Read More
AboitizPower remains keen on offshore biz
January 15, 2019, 9:01 pm
MANILA -- AboitizPower remains keen on investment opportunities outside the Philippines, its Chief Operating Officer Emmanuel Rubio said Tuesday. Rubio told reporters that the company is still looking for investment opportunities in the power generation business in Southeast Asian countries such… Read More
Economy to grow 6.8%-7.2% in 2019: FMIC, UA&P
January 15, 2019, 8:49 pm
MANILA -- The Philippine economic growth trajectory is expected to pick up this year, growing between 6.8 percent and 7.2 percent on an upturn in consumption spending amid improving inflation outlook, the First Metro Investments Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said… Read More
