Business

BOI okays P4-B solar energy project

MANILA -- The Board of Investments (BOI) has registered a PHP4.15-billion solar power project of Pilipinas Newton Energy Corp. in Pangasinan.The BOI said the company’s San Manuel 1 Solar Power Project would be located on a 70-hectare land in San Manuel, Pangasinan.The solar energy facility... Read More

PH among top picks as emerging market stocks

MANILA -- The local stock market is poised for a new bull run following its strong performance, as investors prefer emerging market (EM) stocks with the Philippines among the frontrunners.“With high volume and continued defiance of support levels, the breakout confirms the new bull run of the... Read More

Oil prices rise as US stockpiles expected to decline

NEW YORK--Oil prices climbed on Tuesday as US crude inventories were expected to decline.Analysts forecast US crude stockpiles to decrease by 2.5 million barrels in the latest weekly supply reports.Gasoline and distillate stockpiles were also expected to fall by at least 1.5 million... Read More

Gardenia bakery expanding food biz

MANILA --Gardenia Bakeries Philippines is expanding its product portfolio with the introduction of the Gardenia Malaysia’s Delicia chocolate spread.In a statement Tuesday, Gardenia Philippines President Simplicio Umali Jr. said the company’s introduction of Delicia spreads in the local... Read More

BOI wants capital equipment perks extended to 5 years

MANILA -- The Board of Investments (BOI) aims to extend the period of providing incentives for capital equipment to five years, which is the usual validity period for giving these perks since the Omnibus Investments Code of 1987 or Executive Order (EO) No. 226 took effect.BOI bats for this extension... Read More

NEDA okays public safety, bridge projects

MANILA --The National Economic and Development Authority’s (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved two projects worth PHP31.68 million, including those that aim to ensure public order and safety.The approved projects are the Phase I of the Safe... Read More

BSP open but cautious on cryptocurrencies

MANILA --Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. on Tuesday assured the openness of Philippine monetary officials to cryptocurrencies but cited the need for vigilance since these were not regulated by any central bank.

In a panel discussion during the 12th Philippine... Read More

PH gov't committed to achieve deficit ceiling of 3% of GDP

MANILA --Finance Secretary Carlos Dominguez III on Tuesday said that government remains committed to its deficit ceiling of three percent of gross domestic product (GDP), even as gains under the proposed tax reform program were seen to bring in revenues and attract more investors.The House of... Read More

PSEi down anew, PHP stays firm

MANILA --Profit-taking for the third consecutive day in the Philippines’ equities market resulted in the negative close of the main stocks index.The peso, however, remained firm and was little changed against the US dollar, closing the day at 51.54 from 51.51 the previous day.A trader said the... Read More

US sees bright economic prospects for ASEAN

MANILA --The United States expects bright economic prospects for Association of Southeast Asian Nations (ASEAN) regional bloc, with the youth contributing to the achievement of opportunities.Ambassador Daniel Shields, Charge d’Affaires of US Mission to ASEAN, said the regional bloc was... Read More

PLDT completes fiber optic expansion in Mindanao

MANILA --Leading telecoms and digital services provider PLDT has completed its domestic fiber optic network (DFON) expansion project in Mindanao to further improve its Internet services in the region.The PHP1-billion fiber infrastructure which runs through the provinces of Agusan del Norte, Agusan... Read More

PSEi down on profit-taking, PHP follows

MANILA --Profit-taking resulted in the drop of the Philippine Stock Exchange index (PSEi) Monday and this also affected the local currency. 

The main stocks gauge finished the day with a decline of 0.86 percent, or 72.63 points, to 8,348.32 points. 

A trader expects the PSEi to post... Read More

Fuel prices up Tuesday

MANILA –Petroleum companies announced Monday a 65-centavo increase in the price of gasoline, 35-centavo increase in diesel, and 55-centavo increase in kerosene.

Flying V will implement the adjusted prices at 12:01 a.m. Tuesday, while PTT Philippines, Eastern Petroleum and SEAOIL will hike... Read More

PEZA okays medical tourism project in Makati City

MANILA -- The Philippine Economic Zone Authority (PEZA) has approved the medical tourism project of Centuria Medical Development Corp. in Makati City.PEZA Director General Charito Plaza said the investment promotion agency has registered the PHP2.44-billion Centuria Medical Makati as a medical... Read More

T-bills post mixed results

MANILA -- Rates of the Philippines Treasury bills (T-bills) registered mixed results Monday as investors took note of news overseas, particularly the next Federal Reserve chair.Average rate of the benchmark 91-day T-bill declined to 1.957 percent from 1.958 percent during the auction last October... Read More

PCC: Telco services still poor despite Globe-PLDT-SMC deal

MANILA -- The Philippine Competition Commission (PCC) said mobile and internet services of Globe Telecom, Inc. and PLDT, Inc. remain poor a year after acquiring San Miguel Corp.’s (SMC) telecommunications assets, including the 700MHz frequency.PCC made the statement after the Court of Appeals... Read More

Chinese steel firm, ship maker scout location in PH

MANILA --Two Chinese companies are scouting a location in the Philippines to build their steel manufacturing and shipbuilding and ship repair (SBSR) facilities here, Department of Trade and Industry (DTI) Secretary Ramon Lopez said.Lopez stated Monday that steel manufacturer Huili Investment Fund... Read More

Japanese conglomerate optimistic of robust PH market

MANILA -- The country head of a Japanese conglomerate and global leader in housing and building materials is optimistic on the Philippines and the market, supported by a robust growth in the construction sector.“It’s very exciting, the Philippine market. Actually, it’s been growing... Read More

PEZA urges immediate proclamation of ecozones

MANILA -- The Philippine Economic Zone Authority (PEZA) is asking the Office of the President (OP) to accelerate approval and proclamation of new economic zones.This is after only six out of 58 applications for economic zones were released as of early this month, according to PEZA Director General... Read More

Japanese SMEs eyes expansion of ties with PH

MANILA -- The Japanese Chamber of Commerce and Industry of the Philippines (JCCIPI) has seen new growth potential to sustain the momentum of expanding economic partnership between the Philippines and Japan.JCCIPI president Hiroshi Shiraishi said Japanese small and medium enterprises (SMEs) are... Read More