Business
Alliance Global nets P18.6B in 9 months
November 14, 2018, 5:07 pm
MANILA -- Alliance Global Group, Inc. (AGI), the investment holding company of tycoon Dr. Andrew L. Tan, booked a 23-percent increase in net income in the first nine months of 2018, driven mainly by its real estate and liquor businesses. AGI on Wednesday reported to the local bourse its… Read More
DICT did not favor Mislatel: Rio
November 14, 2018, 5:06 pm
MANILA -- The Department of Information and Communications Technology (DICT) stressed that it did not give undue favor to Misaltel Consortium in its decision to provisionally award it the third telco slot. Mislatel, a joint venture of Udenna Corporation and China Telecom, won the bidding by… Read More
Rise in TDF rates sustained
November 14, 2018, 3:53 pm
MANILA -- The rates of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) continued to rise even while apprehensions generated by recent developments in the economic front, particularly overseas, led to undersubscription. Data released by the central bank showed that the rate of the… Read More
NTC junks MRs of Sear Telecom, PT&T
November 14, 2018, 9:28 am
MANILA -- The selection committee of the National Telecommunications Commission (NTC) has denied the motions for reconsideration filed by Sear Telecommunications and Philippine Telephone and Telegraph Corporation (PT&T) on the disqualifications of their bids for the new telco player slot. The… Read More
DMCI Holdings eye single-digit growth by yearend
November 13, 2018, 7:57 pm
MANILA -- Diversified engineering conglomerate DMCI Holdings, Inc. expects to finish the year with single-digit growth, on the back of strong performance by most of its business segments. DMCI Holdings booked a slight 2-percent decline in consolidated net income for the first nine months of the… Read More
Competition watchdog bats for entry of more cell tower firms
November 13, 2018, 7:33 pm
MANILA -- The Philippine Competition Commission (PCC) is pushing for the creation of more independent tower companies that will build cell towers and other communication infrastructures that may be shared by all telcos. This, as the PCC expressed support for the Department of Information and… Read More
Peso improves ahead of MB meeting, local stocks sink
November 13, 2018, 7:30 pm
MANILA -- The Philippine peso improved against the US dollar Tuesday while the Philippine Stock Exchange index (PSEi) dropped further due to negative news overseas. The local currency ended the day at 53.10 from 53.295 a day ago, which a trader said is in line with its counterparts in the region.… Read More
Economic ministers to conclude RCEP next year
November 13, 2018, 7:29 pm
MANILA -- The Regional Comprehensive Economic Partnership (RCEP) Agreement is set to be signed in 2019 after economic ministers from 16 participating countries agreed to hasten negotiations to meet the deadline. Trade and Industry Secretary Ramon Lopez represented the Philippines in the RCEP… Read More
NFA to review reference price for rice imports
November 13, 2018, 6:07 pm
MANILA -- The National Food Authority (NFA) will review its reference price for government-to-government (G-to-G) rice importation after participating countries offered to sell at prices higher than what was approved in the budget. During Tuesday’s bidding to supply 203,000 metric tons (MT) of… Read More
Package 4 meant to fix taxation on financial, capital markets
November 13, 2018, 5:53 pm
MANILA -- A ranking official of the Department of Finance (DOF) stressed that Package 4 of the proposed tax reform program is primarily intended to fix taxation on the financial and capital markets, and funding the government's “Build, Build, Build” program is only a secondary consideration.… Read More
Auto manufacturers sales up month-on-month in October
November 13, 2018, 4:03 pm
MANILA -- The combined number of vehicles sold by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) in October has notably improved relative to sales the previous month, a joint report released Tuesday revealed. The combined… Read More
Ilocos’ largest dragon fruit farm unveils latest wine
November 13, 2018, 2:11 pm
LAOAG CITY -- The biggest family-owned dragon fruit plantation in Barangay Paayas, Burgos, Ilocos Norte just popped open its latest wine -- a distilled spirit made of dragon fruit juice -- which it will soon market across the country. The Don Rodolfo dragon fruit wine, which would make a good… Read More
PH on track in borrowing program
November 12, 2018, 8:47 pm
MANILA -- National Treasurer Rosalia De Leon on Monday said that government is on track in its borrowing program for this year, citing that the planned US dollar bond issuance in the fourth quarter is for pre-funding. “Even for the global bond, if ever we do issue it would be for prefunding for… Read More
Risk-off sentiment pull down local markets
November 12, 2018, 8:09 pm
MANILA -- Expectations of further increases in the US Federal Reserve’s key rates along with drop of prices of oil in the international market weighed down both the Philippine peso and the Philippine Stock Exchange index (PSEi) Monday. The peso finished the day at 53.295 from 52.96 to a… Read More
ICTSI eyes P5-B upgrade of Iloilo ports
November 12, 2018, 7:23 pm
MANILA -- The International Container Terminal Services Inc. (ICTSI) has proposed to invest more than PHP5 billion to develop the Iloilo Port Complex and the Port of Dumangas in the province of Iloilo. This, as ICTSI submitted a Letter of Intent to the Philippine Ports Authority (PPA) to modernize… Read More
P27-M tourism village to rise in Ilocos Norte town
November 12, 2018, 5:38 pm
LAOAG CITY -- A PHP27-million tourism village will soon rise in Burgos, Ilocos Norte, which is expected to further boost tourism - not only in the said town but the entire province, which was visited by close to a million tourists on an annual basis. Poblacion village chief Joegie Jimenez, in an… Read More
Rise of T-bill rates plateauing: National Treasurer
November 12, 2018, 5:33 pm
MANILA -- The rate of Philippine Treasury bills (T-bills) continued to rise across-the-board Monday, even as National Treasurer Rosalia De Leon noted that the upward momentum has decelerated relative to past weeks on expectations that inflation has peaked. The average rate of the 91-day T-bill… Read More
PH surpasses sales forecast in China expo
November 12, 2018, 4:54 pm
MANILA -- The Department of Trade and Industry (DTI) announced on Monday that the total sales of Filipino participants in the China International Import Expo (CIIE) in Shanghai surpassed its USD50-million sales projection. DTI said that Philippine booths’ total sales in CIIE from Nov. 5 to Nov.… Read More
Chinese real estate firm eyes projects in PH
November 12, 2018, 4:54 pm
MANILA -- One of the biggest real estate developers in China, Country Garden Group, is eyeing to put up hotel and residential projects in the Philippines. According to the Department of Trade and Industry (DTI), Country Garden will send representatives for the business delegation joining Chinese… Read More
Angara to advocate ITBPO perks despite rationalization
November 12, 2018, 4:17 pm
MANILA -- Senator Juan Edgardo Angara assured the information technology and business process outsourcing (ITBPO) industry that the upper chamber will fight for the retention of tax perks in support of the sector's growth, amid the administration's efforts towards the rationalization of fiscal… Read More
