Business
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
Gov’t working to further reduce inflation
January 4, 2019, 7:57 pm
MANILA -- The government’s economic managers on Friday vowed to continue working towards further reining in the prices of commodities, even as the country’s inflation rate has already declined to a seven-month low of 5.1 percent in December. “Nonetheless, we continue to exert all efforts to… Read More
P6-B investment eyed for Clark Airport terminal expansion
January 4, 2019, 7:54 pm
MANILA -- The consortium managing the operations and maintenance (O&M) of the Clark International Airport is eyeing to allocate PHP6 billion for the improvement of its new terminal building, which is expected to serve around 8 million passengers or double the current capacity of its existing… Read More
Local markets benefiting from inflation decline
January 4, 2019, 7:52 pm
MANILA -- The deceleration of the country's December 2018 inflation rate to 5.1 percent from month-ago’s six percent, reportedly helped both the peso and the main equities gauge to finish the week on a high note. The local currency ended the shortened trading week at 52.51 against the greenback,… Read More
BSP may cut rates as early as May 2019: ING Bank
January 4, 2019, 6:44 pm
MANILA -- As price pressures wane, causing inflation to fall back to only 5.1 percent last December, an economist of ING Bank, N.V. Manila forecasts a strong reversal in the Bangko Sentral ng Pilipinas’ (BSP) policy decisions, which saw a 175-basis point hike in key rates in 2018. In a report,… Read More
Espenilla takes leave to seek cancer care abroad
January 4, 2019, 6:42 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. on Friday went on sick leave, effective January 4-21, 2019, to seek medical treatment abroad for his battle with tongue cancer. “The Governor will be obtaining medical care overseas as part of his continuing treatment… Read More
Production volume, value up in November
January 4, 2019, 5:55 pm
MANILA -- The country’s manufacturing sector in November 2018 managed to remain upbeat despite last year's inflationary uptick, as both volume and value of production indices were up. The Philippine Statistics Authority’s (PSA) Manufacturing Integrated Survey of Selected Industries (MISSI)… Read More
Delaying 3rd telco entry to hinder improved services: DICT
January 4, 2019, 5:51 pm
MANILA -- Delaying the entry of the third telco player in the country will derail the vision of achieving faster and better communication services for the public, the head of the Department of Information and Communications Technology (DICT) said Friday. DICT Acting Secretary Eliseo Rio, Jr. said… Read More
IPOPHL eyes to ease limitation on accessible formats
January 4, 2019, 5:34 pm
MANILA -- More persons with disabilities (PWDs), not only the blind or visually-impaired, may soon have wider access to alternative information materials as the Intellectual Property Office of the Philippines (IPOPHL) eyes relaxing certain rules on copyright protection, thus, liberalizing the… Read More
BSP exec calls 2018 inflationary pressures 'short lived'
January 4, 2019, 5:00 pm
MANILA -- The further slowdown of the Philippines’ inflation rate to 5.1 percent in December 2018 clearly shows that the big jumps in inflation during the first three quarters of last year were mainly supply-driven and were therefore short-lived, according to a top monetary official. Bangko… Read More
DA bans entry of pork, pork-based products from 13 countries
January 4, 2019, 3:46 pm
MANILA -- Due to the threat of a baffling hog disease that has killed millions of pigs all over the world and whose effect on human health is still unknown, the Department of Agriculture (DA) has banned the import of pork and pork-based products from 13 countries. The DA has imposed strict… Read More
Inflation hits 7-month low of 5.1% in December
January 4, 2019, 3:41 pm
MANILA -- The country’s inflation rate fell to a seven-month low of 5.1 percent in December 2018, thanks in part to government measures to curb the surge in prices of basic commodities. The Philippine Statistics Authority (PSA) on Friday reported that last month’s inflation was the lowest… Read More
Drop in December inflation boosts local stocks
January 4, 2019, 3:37 pm
MANILA -- The sustained deceleration of the country's inflation rate, which last December further dropped to 5.1 percent from month-ago’s 6 percent, is seen to give the Philippine Stock Exchange index (PSEi) an upward boost this shortened trading week. Average inflation in 2018 stood at 5.2… Read More
BSP tells BSFIs to strengthen PESONet, InstaPay implementation
January 3, 2019, 8:24 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has given BSP-supervised financial institutions (BSFIs) not later than March 31, 2019 to ensure that all its frontline personnel have the necessary know-how implement fund transfer services PESONet and InstaPay. BSFIs are also required to post around… Read More
DBM assures budget for Q1 despite pending GAA
January 3, 2019, 8:23 pm
MANILA -- A US government-style shutdown is highly unlikely here, even while the Philippine government’s proposed 2019 national budget remains pending before Congress, with the Department of Budget and Management directing state agencies to obligate their first quarter funding requirements. In a… Read More
PCC gets P2.6-T worth merger, acquisition deals as of 2018
January 3, 2019, 8:17 pm
MANILA -- The Philippine Competition Commission (PCC) reported Thursday that a total of PHP2.6 trillion worth of merger and acquisition (M&A) transactions were filed with the Commission as of end-2018. PCC Chairman Arsenio Balisacan said the antitrust body received 168 M&A notifications as of… Read More
Gov't workers' pay hike hangs pending 2019 budget approval
January 3, 2019, 8:09 pm
MANILA -- Government workers have to wait for the approval of the proposed PHP3.757-trillion 2019 national budget before they can enjoy the fourth and last tranche of the Salary Standardization Law of 2015 (SSL). This, as the government is now operating on a re-enacted budget pending lawmakers'… Read More
PSEi rises anew; peso pulls back on risk-off sentiment
January 3, 2019, 8:07 pm
MANILA -- Risk-on sentiments remained in the Philippines’ equity market Thursday but the peso weakened to its two-week low in line with its counterparts in the region. The Philippine Stock Exchange index (PSEi) rose to 7,680.60 points, up 2.56 percent or 191.40 points. Regina Capital Managing… Read More
Power restored in 87% of typhoon-hit households: DOE
January 3, 2019, 7:48 pm
MANILA -- About 87 percent or more than 700,000 households now have access to electricity again, after distribution utilities have restored power to areas hard-hit by Tropical Depression “Usman”, the Department of Energy (DOE) said Thursday. In a press briefing, DOE Undersecretary Felix… Read More
DOE rolls out guidelines for oil tax hike implementation
January 3, 2019, 7:47 pm
MANILA -- The Department of Energy (DOE) said it will implement measures to ensure that the second tranche of excise tax hike on fuel products will be correctly implemented. DOE Undersecretary Felix William Fuentebella said Thursday that the government requires oil companies to submit operations… Read More
