Business

Property developer confident of investment growth in NegOcc

BACOLOD CITY -- Property developer Suntrust Properties Inc. (SPI), a wholly-owned subsidiary of Megaworld Corp., has expressed confidence that its investments will grow amid the bullish economy of Negros Occidental, particularly Metro Bacolod.SPI president Harrison Paltongan, who led the blessing of... Read More

Overseas Filipino Bank offers cheaper rates: DOLE

MANILA— The Department of Labor and Employment (DOLE) is encouraging overseas Filipino workers (OFWs) to invest in the Overseas Filipino Bank (OFB) and take advantage of its services and offers as it is partly owned by them.“It will be wise for them to invest in the bank because they... Read More

Peso slightly up vs USD; PSEi down

MANILA -- The Philippine peso regained strength Friday while the Philippine Stock Exchange index (PSEi) finished in the red after recovering a day ago.A trader said the local currency finished at 51.45 from the previous day’s 51.53 against the US dollar as the market took a wait-and-see stance... Read More

BSP exec sees 'modest' BOP shortfall for '17

MANILA -- A ranking Bangko Sentral ng Pilipinas (BSP) official remains optimistic of a “modest” shortfall in the country's balance of payment (BOP) position this 2017. This even as the country’s BOP position in the first nine months of the year stood at a deficit of USD1.37... Read More

Inflation remains manageable amid higher oil prices: Espenilla

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said domestic inflation path has increased due to higher fuel prices and peso depreciation and may increase further because of possible electricity rate hike and impact of the proposed tax reforms.In a briefing Friday, the... Read More

DTI eyes funding support for startups

MANILA --The Department of Trade and Industry (DTI) eyes funding support for newly-set up businesses instead of providing them with fiscal incentives.In a press conference during the Slingshot ASEAN Friday, DTI Secretary Ramon Lopez said the agency targets to increase the available funding that can... Read More

PH targets USD131-B exports by 2022

MANILA -- The Philippines targets USD122 billion to USD131 billion revenues from exports of goods and services by the end of the Duterte administration, Export Marketing Bureau (EMB) Director SenenPerlada said Friday.On the sidelines of the Slingshot ASEAN, Perlada told reporters that the Department... Read More

No port congestion in Manila during Christmas season

MANILA -- The Philippine Ports Authority (PPA) on Thursday assured that there will be no port congestion in Manila during the holiday season.PPA General Manager Jay Daniel Santiago said port utilization in Manila remains healthy at the start of the fourth quarter of this year providing enough space... Read More

PH posts USD24-M BOP surplus in Sept. '17

MANILA - - The Philippines balance of payment (BOP) position reversed to a surplus in September 2017 after staying in deficit since last May.Data released by the Bangko Sentral ng Pilipinas (BSP) Thursday night showed a USD24 million BOP surplus in the ninth month this year, an improvement from... Read More

Peso falls to 11-yr low vs. USD; PSEi bounces back

MANILA - - The peso fell to its 11-year low against the US dollar on Thursday while the Philippine Stock Exchange index (PSEi) bounced back after ending its three-day rally to a record-high a day ago.The local currency shed 12 centaovs and finished the day at 51.53 from 51.405 in the previous... Read More

DTI provides P943-M livelihood assistance for Marawi

MANILA -- The Department of Trade and Industry (DTI) has provided some PHP942.5 million worth of livelihood assistance for internally displaced persons (IDPs) in Marawi City.DTI Secretary Ramon Lopez told reporters on the sidelines of the 43rd Philippine Business Conference and Expo Thursday said... Read More

Pampanga partners with DTI, DOLE to boost sampaguita industry

LUBAO, Pampanga -- The provincial government of Pampanga, in collaboration with the Department of Science and Technology (DOST), Department of Trade and Industry (DTI) and Department of Labor and Employment (DOLE), will help boost the sampaguita industry in the towns of Floridablanca, Guagua, and... Read More

PH welcomes foreign aid to rebuild Marawi: Diokno

MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno said Thursday that the Philippine government welcomes any help from foreign countries for the rehabilitation of Marawi City.On the sidelines of the 43rd Philippine Business Conference and Expo Thursday, Diokno told... Read More

Money transfer providers cite tie-up success

MANILA -- Money transfer leaders Western Union, LBC and Pera Hub are hopeful about the continued strength of their tie-up after noting that their performance in the first month "surpassed their expectations".LBC president and COO, Mike Camahort, in a briefing Thursday said the volume of remittances... Read More

NEDA expects 7 % growth in Region 8 this year

TACLOBAN CITY -- The National Economic Development Authority (NEDA) sees better economy in Eastern Visayas this year largely due to “multiplier effects” of post-Yolanda rehabilitation and business expansion in the region.NEDA Regional Director Bonifacio Uy said on Wednesday they are... Read More

ASEAN urged to redouble efforts to achieve full economic integration

MANILA --The Association of Southeast Asian Nations (ASEAN) needs to further push intra-regional trade and investment to fully benefit its citizens from economic integration, said the country’s top diplomat.Department of Foreign Affairs (DFA) Secretary Alan Peter Cayetano said the benefits of... Read More

PH startups aim to tap global mart

MANILA -- Philippine-based startups consider entering new foreign markets in the next three to five years, according to the Philippine Startup Survey of Isla Lipana & Co./PwC Philippines and QBO Innovation Hub.In a press conference Wednesday, PwC Philippines Chairman and Senior Partner Alexander... Read More

T-bond rate down Wednesday

MANILA - - Rate of the Philippines' seven-year Treasury bond (T-bond) fell to 4.39 percent Wednesday on higher demand for the debt paper.Its rate during the auction last Aug. 8 was 4.510 percent while secondary market rate for the same tenor Wednesday morning stood at 4.6157 percent. The Bureau of... Read More

Malunggay powder producer gets BOI nod

MANILA -- The Board of Investments (BOI) has registered the PHP36.4-million project of Mauswag Agribusiness, Inc. to produce Moringa oleifera or malunggay powder as producer of non-traditional export products under the Investment Priorities Plan (IPP).In a statement Wednesday, BOI said Pili,... Read More

TDF auction posts mixed results

MANILA – The bid coverage ratio of the Bangko Sentral ng Pilipinas' (BSP) Term Deposit Facility (TDF) moved toward separate directions Wednesday after the undersubscription in the 28-day facility.Data released by the central bank showed that the bid coverage ratio of the seven-day facility... Read More