Business

Economic managers vow more measures to ensure food security

Economic managers vow more measures to ensure food security

December 5, 2018, 3:48 pm

MANILA -- Economic managers on Wednesday cited the deceleration of domestic inflation last November and committed to implement more measures that would guarantee food security to help manage inflation. In a statement issued after the Philippine Statistics Authority (PSA) reported the decline of… Read More

PH inflation rate at 4-month low of 6% in November

PH inflation rate at 4-month low of 6% in November

December 5, 2018, 2:20 pm

MANILA -- The country’s inflation rate fell to a four-month low of 6 percent in November amid government efforts to tame rising prices, indicating a downward path. The Philippine Statistics Authority (PSA) on Wednesday reported that last month’s inflation was the lowest since the 5.7-percent… Read More

Drop in November inflation to 6% 'encouraging': Espenilla

Drop in November inflation to 6% 'encouraging': Espenilla

December 5, 2018, 1:24 pm

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. on Wednesday hailed the deceleration of November 2018 inflation to 6 percent from multi-year high of 6.7 percent in September and October. In a message to reporters, he said rate of price increases in the 11th month this… Read More

8990 Holdings eye P50-B sales from projects

8990 Holdings eye P50-B sales from projects

December 4, 2018, 8:47 pm

MANILA -- Mass housing developer 8990 Holdings Inc. expects to generate some PHP50 billion in sales next year from four current projects, including a condominium complex project in Ortigas Avenue Extension, as it beefs up its inventory to meet strong demand. “There is 6.1 million housing… Read More

Raise tobacco tax even higher, DOF urges Congress

Raise tobacco tax even higher, DOF urges Congress

December 4, 2018, 7:47 pm

MANILA -- The Department of Finance (DOF) will "try its best" until the last minute to convince Congress to impose new "sin" tax rates on tobacco products that will make cigarettes pricey enough to further discourage smoking, especially among teenagers. Finance Secretary Carlos Dominguez III said… Read More

Only quality cement used in NLEX Harbor Link

Only quality cement used in NLEX Harbor Link

December 4, 2018, 7:28 pm

MANILA -- Republic Cement assured that only the highest-quality cement goes into the construction of the North Luzon Expressway (NLEX) Harbor Link Segment 10, as the Department of Public Works and Highways (DPWH) works double-time to complete the crucial elevated expressway this month. In a… Read More

PSEi tracks Wall Street, peso down ahead of inflation report

PSEi tracks Wall Street, peso down ahead of inflation report

December 4, 2018, 6:33 pm

MANILA -- The Philippine Stock Exchange index (PSEi) rose anew Tuesday but the peso weakened against the US dollar ahead of the November 2018 inflation report's release. The main stocks gauge rose 2.27 percent, or 171.02 points, to 7,703.92 points. A trader said the truce in the US and China trade… Read More

10-year T-bond rate falls

10-year T-bond rate falls

December 4, 2018, 5:43 pm

MANILA -- The rate of the Philippines’ re-issued 10-year Treasury bond (T-bond) fell to 6.975 percent Tuesday from 8.035 percent during the auction last November 6. The Bureau of the Treasury (BTr) offered it for PHP15 billion and received bids more than three times over, amounting to PHP49.389… Read More

Coop insurance firm sees record-high growth in 2018

Coop insurance firm sees record-high growth in 2018

December 4, 2018, 5:42 pm

MANILA -- 1Cooperative Insurance System of the Philippines (1CISP), touted as the country’s largest cooperative insurance firm, projects to end this year with a record-high growth in assets, its president and chief executive officer Roy Miclat said. In a press briefing Tuesday, Miclat said… Read More

Cusi highlights investment opportunities in energy sector

Cusi highlights investment opportunities in energy sector

December 4, 2018, 4:51 pm

MANILA -- Department of Energy (DOE) Secretary Alfonso Cusi called on energy sector stakeholders to look for new investment opportunities that will come as a result of increasing power demand in the near future. During the 2018 Energy Investment Forum in Taguig City on Tuesday, Cusi stressed that… Read More

Economy to grow faster in Q4: FMIC-UA&P

Economy to grow faster in Q4: FMIC-UA&P

December 3, 2018, 9:16 pm

MANILA -- The Philippine economy is expected to expand 6.6 percent in the fourth quarter of 2018, bringing full-year growth to 6.38 percent, buoyed mainly by higher investment spending and a modest rebound in exports. “Infrastructure and capital outlays and capital goods imports remained… Read More

Trading week off to good start

Trading week off to good start

December 3, 2018, 7:37 pm

MANILA -- Reports that the US and China have decided to hold a 90-day truce in their bitter trade war as they attempt to address festering issues more politely boosted both the Philippine peso and the main stocks gauge Monday. The local currency finished the day at 52.32 to a greenback from 52.45… Read More

3, 6-month T-bill rates rise, 1-year declines

3, 6-month T-bill rates rise, 1-year declines

December 3, 2018, 7:37 pm

MANILA -- Philippine Treasury bills (T-bills) continued to reflect rising interest rates, which according to National Treasurer Rosalia De Leon, also shows that investors are locking in on rates. Bureau of the Treasury’s (BTr) auction committee fully awarded all three tenors this week,… Read More

PH output rises despite falling exports

PH output rises despite falling exports

December 3, 2018, 5:35 pm

MANILA -- Output of the country’s manufacturing sector managed to hit a near two-year high despite a sharp drop in new export orders in November, the IHS Markit manufacturing purchasing managers’ index (PMI) reported Monday. IHS Markit data show that the Philippines’ PMI in November rose to… Read More

Sun Life Financial eyes PH Q4 GDP at 6.3%

Sun Life Financial eyes PH Q4 GDP at 6.3%

December 3, 2018, 4:56 pm

MANILA -- An official of Sun Life Financial - Philippines forecasts healthy expansion for the domestic economy in the last quarter of 2018 at 6.3 percent and sees even higher growth next year because of government spending and election-related spending. In a briefing Monday, Sun Life Asset… Read More

PHINMA prexy gets global biz award

PHINMA prexy gets global biz award

December 3, 2018, 4:46 pm

MANILA -- PHINMA Corp. President and Chief Executive Officer Ramon del Rosario received the "Business as a Noble Vocation Award" at the UNIAPAC World Congress 2018 in Lisbon, Portugal last Nov. 24. UNIAPAC International launched the Business as a Noble Vacation Award to recognize the dedication of… Read More

PLDT to increase 2019 capex

PLDT to increase 2019 capex

December 3, 2018, 1:46 pm

MANILA -- Local telecommunications giant PLDT Inc. is set to increase its capital expenditures next year for the deployment of its wireless services and rollout of 5th generation technology (5G) cell sites across the country. The capex for 2019 will be higher than the PHP58 billion this year which… Read More

Oil firms to cut pump prices by at least P2/liter Tuesday

Oil firms to cut pump prices by at least P2/liter Tuesday

December 3, 2018, 10:12 am

MANILA -- Oil companies are set to implement a fresh price roll back of at least PHP2 per liter this week. In separate messages, oil companies announced to cut prices of diesel by PHP2.10 per liter; gasoline by PHP2 per liter; and kerosene by PHP2 per liter. The oil price rollbacks will be… Read More

D&L Industries building P8-B expansion facility in Batangas

D&L Industries building P8-B expansion facility in Batangas

December 3, 2018, 9:56 am

MANILA -- Chemical and food ingredient manufacturer D&L Industries Inc. has started the construction of its PHP8-billion expansion facility in Tanauan, Batangas, a project that will generate 700 new jobs over the next two years until 2020. D&L president Alvin Lao said the expansion project, which… Read More

DOF economist eyes November inflation at 6.3%

DOF economist eyes November inflation at 6.3%

December 2, 2018, 5:08 pm

MANILA -- A Department of Finance (DOF) official forecasts November 2018 inflation to decelerate to 6.3 percent from hitting its multi-year high of 6.7 percent last September and October. Finance Undersecretary Gil Beltran attributed his forecast to the decline in the prices of several food items… Read More