Business

DA allocates P100-M for mechanization in W. Visayas

ILOILO CITY -- The Department of Agriculture (DA) in Region 6 has earmarked PHP100 million for the implementation of the rice mechanization program in Western Visayas this year.The fund is intended to acquire farm mechanical tools aimed at reducing labor cost, prevent post-harvest losses and improve... Read More

Peso strengthens anew, PSEi down slightly on profit-taking

MANILA - - The Philippine peso improved anew Friday on lower US Treasury yields while the main stocks gauge shed slightly on profit-taking. The local currency finished the week at 50.87 from the previous session's 50.93.A trader pointed out that concerns on US President Donald Trump's ability to... Read More

Gov't wants to uplift PH's capital market

MANILA - - The Bureau of the Treasury (BTr) is now working with the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) in uplifting the domestic capital market.This as the government now relies more on onshore fund sources rather than foreign creditors, with the... Read More

Private sector support vital to implementation of infra projects

MANILA --Private sector support is vital to the implementation of infrastructure projects that will improve the worsening traffic situation in the country's major cities.Public Private Partnership (PPP) Center of the Philippines Legal Services Director Frances Yani Domingo said the investment of the... Read More

DOF exec confirms roll-out of single platform for traders

MANILA -- After a successful pilot-testing last July, the Philippines is ready to link with trade facilitation platforms of other countries in the Association of Southeast Asian (ASEAN) by December.Finance Undersecretary Gil Beltran told reporters recently that the pilot-testing last July of... Read More

Peso improves to 50-level vs. USD, PSEi recovers

MANILA -- The Philippine peso closed better at 50-level against the greenback on Thursday while the main stocks gauge recovered as risk-on sentiment rose anew. The peso finished the trade at 50.93 from 51.095 a day ago, which BDO chief market strategist Jonathan Ravelas traced to weakness of the US... Read More

BMI Research sees steady growth for PH construction sector

MANILA -- The research arm of the Fitch Group has forecast the Philippine construction industry will steadily expand over the next 10 years, with Chinese and Japanese firms largely benefitting from greater investments and project opportunities.BMI Research sees positive outlook for the construction... Read More

Chinabank Board okays appointment of new prexy

MANILA -- China Banking Corp. on Thursday announced the approval by its Board of Directors the election of William C. Whang as the bank’s president in lieu of Ricardo R. Chua, who will retire on October 31, 2017.In a disclosure with the Philippine Stock Exchange (PSE), the bank said Whang, who... Read More

PH posts USD4-M net hot money inflow in August

PH posts USD4-M net hot money inflow in AugustMANILA - - Philippines posted USD 3.95 million net inflow of foreign portfolio investments during the shortened trading days in the week covering August 21-25, 2017, a turn-around from the previous week.August 21, 2017 is a holiday due to the... Read More

Gov't to ease restrictions on foreign contractors: Pernia

MANILA -- Economic managers are working towards relaxing restrictions on foreign contractors in line with the government’s plan to fast-track the implementation of infrastructure and development projects deemed vital to sustaining economic growth.Socioeconomic Planning Secretary Ernesto Pernia... Read More

Make NorMin's livestock at par with Asean

CAGAYAN DE ORO CITY—The Board of Investments (BOI) is looking for ways to transform Northern Mindanao's livestock industry at par with Association of Southeast Asian Nations (Asean) standards.This was disclosed by BOI Investment Assistance Service director Raul Angeles, who pointed out that as... Read More

Mindanao products find niche in PH market

DAVAO CITY - After several years of promoting Mindanao products from hand woven cloths to handcrafted products, they finally found niche in the Philippine market.These products made by different tribes are getting popular and recognized by entrepreneurs for their intricate and indigenous... Read More

ASEAN MSMEs need more financial, technical support: study

MANILA -- While the Association of Southeast Asian Nations (ASEAN) has available programs and pushing for policies that will boost micro, small, and medium enterprises (MSMEs), the region needs to introduce more financial and technical support to MSMEs, an ASEAN study said.The report “Towards... Read More

49th ASEAN Economic Ministers’ meet opens in PH

MANILA -- The 49th Association of Southeast Asian Nations (ASEAN) Economic Ministers’ Meeting (AEM) formally opened in Pasay City Thursday.Trade ministers of the regional bloc's 10 member states have convened here to move forward action plans for the ASEAN Economic Community (AEC).In his... Read More

Gov't wants mining industry more globally competitive

MANILA --The government is committed to make the mining industry contribute more to the country’s economic growth, without sacrificing the environment and the well-being of the local people.This was stressed by Environment and Natural Resources Secretary Roy Cimatu in his speech read by DENR... Read More

PH bags 9 trophies at ASEAN Business Awards

MANILA --Nine Filipino enterprises were recognized by the Association of Southeast Asian Nations Business Advisory Council (ASEAN BAC) at the ASEAN Business Awards 2017 for their outstanding contribution to the advancement of business environment in the region.JG Summit Holdings, Inc. Founder John... Read More

Duterte urges ASEAN firms to help small businesses

MANILA --President Rodrigo Duterte has challenged large companies in the Association of Southeast Asian Nations (ASEAN) to make the region’s business environment more inclusive.

In his speech during the ASEAN Business Awards 2017 here Wednesday evening, President Duterte has urged ASEAN... Read More

Miners invite Duterte to visit rehabilitated mines

MANILA -- The Chamber of Mines of the Philippines (COMP) formally invited President Rodrigo Duterte to visit one of the rehabilitated mines in the country in the wake of his recent pronouncements about open-pit mines."We like to invite the President to come and see some of the older mines that have... Read More

ASEAN urged to widen dev't through inclusive business

MANILA -- The 10-member states of the Association of Southeast Asian Nations (ASEAN) are enjoined to promote inclusive business model in the region in order to achieve greater impact of development and reach the bottom of the pyramid.In a press conference Wednesday on the sidelines of the ASEAN... Read More

Insurance exec optimistic on insurance growth in PH

MANILA - An official of an insurance company is optimistic on the continued rise of insurance penetration in the Philippines as industry players vie to open more access points for the masses to avail insurance products.Pioneer Life Inc. President and CEO Lorenzo Chan Jr. told reporters Wednesday... Read More