Business
Local markets weaken over uncertainties overseas
January 8, 2019, 7:33 pm
MANILA -- Investors' wait-and-see stance pending the outcome of US-China trade talks ended the Philippine Stock Exchange index (PSEi) rally Tuesday and the peso followed suit. PSEi shed 1.10 percent, or 85.54 points, to 7, 702.12 points. Citing reports, Regina Capital Managing Director Luis… Read More
PAL launches 3 new routes in Q1 2019
January 8, 2019, 7:15 pm
MANILA -- Flag carrier Philippine Airlines (PAL) on Tuesday launched three new international routes -- Hanoi, Phnom Penh and New Delhi -- that would commence in summer of 2019. During the launch, PAL president and chief executive officer Jaime Bautista said that by summer, PAL will have a total… Read More
PH 10-year T-bond rate declines, demand exceeds offering
January 8, 2019, 6:36 pm
MANILA -- Investors swamped Tuesday’s auction of the Philippines’ 10-year Treasury bond (T-bond) but the paper’s interest rate slipped on expectations that domestic inflation rate will continue to decelerate. Average rate of the T-bond fell to 6.829 percent from 7 percent during the auction… Read More
NPC speaks up on PNP’s 'teachers list'
January 8, 2019, 6:35 pm
MANILA -- The National Privacy Commission (NPC) advised the Philippine National Police (PNP) to respect the individual’s right to privacy following reports that it has been spying on members of the left-leaning Alliance of Concerned Teachers (ACT). In a text message to reporters, Privacy… Read More
Shortage of chicken looms
January 8, 2019, 6:19 pm
MANILA -- There is a looming shortage of chicken in the country due to an apparent disagreement among stakeholders on the price of the commodity. "The stakeholders could not seem to agree on what to do, but I hope they will," said Agriculture Secretary Manny Piñol, in an interview with the media… Read More
Laban Konsyumer sees inflation above 4% in 2019
January 8, 2019, 5:21 pm
MANILA -- Consumer group Laban Konsyumer, Inc. (LKI) expects this year’s inflation rate to surpass the government’s 2 percent to 4 percent inflation target. In a statement Tuesday, LKI president Victorio Mario Dimagiba said the consumer price index (CPI) will likely shoot above the 4 percent… Read More
Globe strengthens network coverage in Cebu’s rural areas
January 8, 2019, 2:58 pm
MANILA -- Globe Telecom's management announced that the company has installed cell sites in the mountainous areas of Cebu City as part of its initiative to improve network coverage across the country. In a statement on Tuesday, Globe said it has put up cell towers in barangays Bonbon and Guba to… Read More
End-december 2018 GIR level rises to USD78.46-B
January 8, 2019, 1:35 pm
MANILA -- Preliminary data showed that the country's gross international reserves (GIR) rose to USD78.46 billion as of end-December 2018, Bangko Sentral ng Pilipinas (BSP) Officer-in-Charge Diwa C. Guinigundo announced in a statement on Monday. This level was higher than the USD75.68 billion level… Read More
Aboitiz optimistic of airport projects in 2019
January 8, 2019, 1:34 pm
MANILA -- Aboitiz InfraCapital Inc (AIC) is confident that it will be able to start breaking ground for its various regional airport projects across the country this year. The company said it expects the government to approve its unsolicited proposals for the operations, maintenance and expansion… Read More
World Bank's Kim to step down Feb. 1
January 8, 2019, 9:02 am
WASHINGTON -- World Bank Group President Jim Yong Kim announced on Monday that he will be stepping down from his position after more than six years at the international lending institution. World Bank CEO Kristalina Georgieva will assume the role of interim president effective Feb. 1, the World… Read More
S&P gives PH’s proposed ROP issuance ‘BBB’ rating
January 7, 2019, 8:19 pm
MANILA -- Credit rater S&P Global Ratings on Monday gave the Philippines’ proposed benchmark US dollar-denominated bond issuance a ‘BBB’ rating, the same rating it bestowed upon the country. “The notes represent direct, general, unconditional, unsecured, and unsubordinated obligations of… Read More
Astoria completes P1.5-B Boracay resort
January 7, 2019, 7:54 pm
MANILA -- Astoria Hotels & Resorts (AHR) has inaugurated its newly-completed PHP1.5-billion Astoria Current in Boracay Island after getting clearance from the government. Astoria Current is among the first resorts that were allowed by the Department of Tourism (DOT) to return to its operation in… Read More
Risk-on sentiment energize local markets Monday
January 7, 2019, 7:42 pm
MANILA -- Investors' expectations that the US-China trade talks this week will go a long way towards ending the trade war helped boost the Philippine Stock Exchange index (PSEi) rally Monday and the risk-on sentiment also benefited the peso. PSEi ended the trade at 7,787.66 points, up 0.34 percent… Read More
AboitizPower to provide energy for Batangas ecozone
January 7, 2019, 6:48 pm
MANILA -- AboitizPower Corp. will provide energy services for Light Industry & Science Park (LISP) IV in Malvar, Batangas, one of the latest economic zone projects of Science Park of the Philippines, Inc. (SPPI). In the 25-year service agreement between AboitizPower and SPPI, the former’s… Read More
PH T-bill rates rise on year's 1st auction
January 7, 2019, 6:46 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday, with strong demand being behind the rise in longer tenors, which National Treasurer Rosalia De Leon attributed to expectations that domestic inflation will continue to decelerate. Average interest rate of the… Read More
Tax increase not yet reflected in Tuesday’s oil price hike
January 7, 2019, 3:29 pm
MANILA -- Oil companies announced a hike in fuel prices on Tuesday, January 8, but clarified that this increase is not yet due to the Tax Reform for Acceleration and Inclusion (TRAIN) law's second tranche. In separate messages, oil firms said they will increase diesel prices by PHP0.70 per liter,… Read More
Bacolod ICT council eyes alliance with Canadian chamber
January 7, 2019, 2:13 pm
BACOLOD CITY -- The Bacolod-Negros Occidental Federation for Information and Communications Technology (BNEFIT) is eyeing a possible collaboration with the Canadian Chamber of Commerce in the Philippines. BNEFIT president John Dave Dueñas said a representative of the Canadian chamber will meet… Read More
Business confidence in Bacolod City restored: mayor
January 7, 2019, 1:33 pm
BACOLOD CITY -- An all-time high of 23,187 permits registration in 2018 is an indication that business confidence has been restored in this city, Mayor Evelio Leonardia said. “This is a solid indicator that we have restored business confidence. Even the business world has taken notice of the… Read More
Road Board abolition in original tax reform proposal: DOF
January 7, 2019, 1:12 pm
MANILA -- The abolition of the alleged corruption-plagued Road Board and the transfer of its funds sourced from the collection of the Motor Vehicle User Charge (MVUC) to the state’s General Fund, to ensure accountability and transparency in their use, is already covered by the original proposal… Read More
Newly-rehabilitated Tubigon Port starts operations
January 5, 2019, 2:54 pm
MANILA -- The port in Tubigon, Bohol resumed operations on Saturday after the damages it sustained during the magnitude 7.2 earthquake five years ago had been repaired, the Philippine Ports Authority (PPA) said. The repair and renovation of the port was fast-tracked following an inspection… Read More
