Business
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%
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
Cathay Land invests P1-B in Calabarzon condo projects
December 2, 2018, 11:04 am
MANILA -- Cathay Land is building two condominium projects in its largest township project in south of Metro Manila worth PHP1 billion. Cathay Land president Jeffrey Ng said the company is launching Stanford Suites 3 and Fullerton Suites in its 500-hectare South Forbes Golf City in Cavite-Laguna… Read More
Petron cuts LPG prices anew
November 30, 2018, 6:40 pm
MANILA -- Another big time rollback on prices of liquefied petroleum gas (LPG) will welcome consumers in December. On Friday, Petron Corp. announced that it will cut the prices of Gasul and Fiesta Gas by PHP6.50 per kilogram starting this weekend. “This is equivalent to a rollback of PHP70 per… Read More
Domestic liquidity growth eases in October: BSP
November 30, 2018, 5:12 pm
MANILA -- Preliminary data show that domestic liquidity (M3) grew by 8.2 percent year-on-year to about P11.1 trillion in October 2018, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement on Thursday. This was slower than the 9.8-percent (revised) expansion in the previous month. On a… Read More
'Sulong' fora underscore private sector's role in growth
November 30, 2018, 5:10 pm
DAVAO CITY -- Finance Secretary Carlos Dominguez III said spinning off the annual “Sulong Pilipinas” consultative conference into regional forums across the country underscores the importance given by the Duterte administration to the business sector in its pursuit of high and inclusive… Read More
BSP eyes 5.8-6.6% November inflation
November 29, 2018, 8:00 pm
MANILA -- The abrupt decline in world oil prices and the normalization in supplies of rice and other agricultural goods caused Philippine monetary officials to forecast a November 2018 inflation of between 5.8 percent and 6.6 percent, lower than the 6.7 percent last September and October. In a… Read More
Peso gains ground, local stock retreat
November 29, 2018, 7:41 pm
MANILA -- The Philippine peso ended the shortened week’s trading a little stronger against the US dollar but the Philippine Stock Exchange index (PSEi) declined after economic managers announced their recommendation to go ahead with the oil excise tax hike in 2019. The local currency finished… Read More
DBCC wants to push through with 2nd tranche of oil tax hike
November 29, 2018, 7:11 pm
MANILA -- Economic managers on Thursday said they will now recommend the implementation of the second tranche of the oil excise tax increase scheduled for 2019. This is a complete reversal from their recommendation earlier this year, when oil prices soared to over USD80 per barrel, that the hike… Read More
No debt trap in foreign financing deals: DOF chief
November 29, 2018, 6:27 pm
DAVAO CITY – Finance Secretary Carlos Dominguez on Wednesday reiterated the Philippines is not falling into a debt trap when the government made financing deals with the People’s Republic of China and Japan for the country's strategic infrastructure projects.“This is totally unfounded,”… Read More
DOE, LGUs strengthen renewable energy cooperation
November 29, 2018, 6:03 pm
MANILA -- The Department of Energy (DOE) has ramped up its efforts to build partnerships with local government units (LGUs) towards promoting the use of renewable energy. DOE said in a statement Thursday that it signed a memorandum of understanding (MOU) with the provincial government of Palawan… Read More
DTI opens 2 more Negosyo Centers in Ilocos Norte
November 29, 2018, 4:48 pm
LAOAG CITY—The Department of Trade and Industry (DTI) opened two more Negosyo Centers in the towns of Bangui and Nueva Era on Thursday. According to Maricor Racela, DTI event coordinator in the province, the 13th and 14th Negosyo Centers in the province are expected to boost economic growth and… Read More
26 Japanese SMEs looking for PH partners
November 29, 2018, 2:16 pm
MANILA -- A business delegation from Japan is coming to visit next week for a business matching program with Filipino companies. Twenty-six small-and medium-scale enterprises (SMEs) from Japan are seeking partnerships with Filipino firms to explore opportunities in the country, the… Read More
Pangilinan calls tie-up with Uy mutually beneficial
November 28, 2018, 8:14 pm
MANILA -- Magnate Manuel V. Pangilinan described his partnership with Davao tycoon Dennis Uy in the energy sector as “symbiotic relationship”. At the sidelines of Philippine Business for Social Progress (PBSP) event Wednesday, Pangilinan said since their businesses are interrelated, the… Read More
Added measures needed vs. supply-side risks: MB member
November 28, 2018, 8:13 pm
MANILA -- A member of the Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Wednesday said inflationary pressures have eased for the moment but additional measures are needed to ensure that supply-side issues can be avoided in the future. MB Member V. Bruce J. Tolentino, in… Read More
Vietnam, Thailand to supply 203,000 MT rice to PH
November 28, 2018, 7:47 pm
MANILA – The state-run National Food Authority (NFA) on Wednesday successfully bid out contracts for the supply of 203,000 metric tons (MT) of rice to Vietnam and Thailand, as it strives to boost the country’s buffer stock. The government secured offers for the supply of 25-percent broken long… Read More
Peso holds its ground, local shares down on profit-taking
November 28, 2018, 7:44 pm
MANILA -- Profit-taking cut short the Philippine Stock Exchange index' (PSEi) four-day rally but the peso managed to hold its ground against the US dollar on Wednesday's trading session. The main stocks index shed 0.42 percent, or 31.20 points, to 7,382.43 points. Regina Capital Managing Director… Read More
5G services to be available next year: MVP
November 28, 2018, 6:13 pm
MANILA -- Telecommunications firm PLDT, Inc. and its wireless subsidiary Smart Communications expects subscribers of its Home and Enterprise business segments to be able to avail of 5th generation technology (5G) capable services by next year. PLDT acknowledged that no 5G-capable mobile handheld… Read More
Funding to promote 'inclusive biz' launched
November 28, 2018, 6:11 pm
MANILA -- Large companies are being tapped to raise PHP100 million for a capacity-building fund to help low-income communities build their enterprises, Philippine Business for Social Progress (PBSP) Chairman Manuel V. Pangilinan announced on Wednesday. At the sidelines of the Inclusive Business… Read More
Security Bank NAIA branches open on Nov. 30
November 28, 2018, 6:09 pm
MANILA -- Security Bank branches nationwide, except for those at the Ninoy Aquino International Airport (NAIA) and NAIA 3, will be closed on Friday (November 30). In an advisory Wednesday, most of the bank's branches will be closed on Bonifacio Day since it is a regular holiday in the country.… Read More
