Business
China seeks increased trade, economic ties with PH
November 26, 2018, 8:53 pm
MANILA -- China is keen to increase trade and economic ties with the Philippines, as it stands ready to support the country’s sustained growth, according to officials of the Chinese Embassy here. “We still have a lot more potential to boost our bilateral trade,” Chargé D'affaires Tan… Read More
Prudent spending but no underspending for Duterte admin
November 26, 2018, 8:40 pm
CLARK, Pampanga -- Budget and Management Secretary Benjamin Diokno on Monday assured that government will continue to exercise prudent spending but clarified that underspending will never happen under the current administration. In his speech during the consultation event with the private sector… Read More
Trading week begins on positive ground
November 26, 2018, 8:26 pm
MANILA -- Early window dressing buoyed the Philippine Stock Exchange index (PSEi) Monday and this pre-holiday cheer also benefited the peso. PSEi gained 0.79 percent, or 57.69 points, to 7,397.87 point, which Regina Capital Managing Director Luis Limlingan said was in contrast to the drop of US… Read More
Reenacted budget won't halt infra program: Diokno
November 26, 2018, 7:53 pm
CLARK, Pampanga -- Budget and Management Secretary Benjamin Diokno said the administration's ambitious program will not come to a complete halt just because of the possible reenactment of the 2018 national budget. “As far as the 75 major projects are concerned, I know that they will not be… Read More
PLDT invests P2.1-B in software firm Multisys
November 26, 2018, 7:03 pm
MANILA -- Telecommunications firm PLDT Inc. has signed an agreement with local software development and IT solutions provider Multisys Technologies Corporation for a PHP2.15 billion investment which is equivalent to 45.73 percent ownership of its equity shares. The company will be investing PHP1.6… Read More
DTI disburses P1.7-B as MSME loans
November 26, 2018, 7:02 pm
MANILA -- The Department of Trade and Industry (DTI) has rolled out PHP1.7 billion worth of loans to micro enterprises as of this month under the Pondo sa Pagbabago at Pag-asenso (P3) Program. DTI reported at the P3 National Congress in Pasay City Monday that this amount will help fund some 52,000… Read More
Oil tax hike suspension still on despite drop in oil prices
November 26, 2018, 7:01 pm
MANILA -- Suspension of the second installment of the oil excise tax hike pushes through on Jan. 2, 2019 even now that global oil prices have gone down below USD80 per barrel, but Finance Secretary Carlos Dominguez III said they are closely monitoring changes in the world crude market. President… Read More
Drop in PEZA investments due to investors' demand for perks
November 26, 2018, 5:42 pm
CLARK, Pampanga -- Investment pledges in the Philippine Economic Zone Authority (PEZA) may be down today but Finance Secretary Carlos Dominguez III said this is largely due to investors asking for perks from government. In his speech during the consultation event with the private sector and other… Read More
Soft loans from Japan, China won't balloon PH debt
November 26, 2018, 4:17 pm
CLARK, Pampanga -- Finance Secretary Carlos Dominguez III on Monday stressed that the country is not falling into a debt trap even as it takes more loans from foreign governments to fund its massive infrastructure program called “Build, Build, Build.” In his speech during the consultation… Read More
Int'l Finance Corp. invests USD40-M in PLDT’s Voyager
November 26, 2018, 2:53 pm
MANILA -- The International Finance Corporation (IFC) and IFC Emerging Asia Fund are subscribing to USD40 million worth of newly issued shares in PLDT, Inc.’s Voyager Innovations. PLDT said the investment will expand financial inclusion in the country and promote the digital economy through the… Read More
Another big-time oil price rollback greets motorists
November 26, 2018, 2:37 pm
MANILA -- Local oil companies are all set to implement another big-time rollback in pump prices early this week. Several oil firms announced rollbacks of PHP2.30 per liter on diesel and PHP1.10 per liter on unleaded gasoline effective 6 a.m. Tuesday, although some companies beat them to the punch… Read More
Metrobank Chair George Ty passes away
November 23, 2018, 9:17 pm
MANILA -- Metropolitan Bank and Trust Company (Metrobank) founder and group Chairman Dr. George S.K. Ty died Friday at the age of 86. “It is with deep sadness that we announce the peaceful passing of our beloved Founder and Group Chairman Dr. George S.K. Ty. He was surrounded by family and loved… Read More
Lower oil prices to narrow trade deficit in 2019: BPI economist
November 23, 2018, 8:40 pm
MANILA -- The trade deficit is expected to decline slightly next year, as the country continues to invest on infrastructure initiatives which bodes well for economic growth outlook, according to a leading bank’s economist. “It might narrow a bit next year because oil prices will be lower. But… Read More
Cavite Gateway Terminal to make Tanza town a city in 5 years
November 23, 2018, 8:04 pm
TANZA, Cavite – The newly-opened Cavite Gateway Terminal (CGT) will transform this first class town into a progressive city in the next five years, according to Governor Jesus Crispin Remulla. “Hindi aabot ng limang taon, it is going to be a city (It will not take 5 years, it will become a… Read More
DBM adopts more gov't budgetary, fiscal reforms
November 23, 2018, 7:57 pm
TAGAYTAY CITY – The Department of Budget and Management (DBM) is adopting more budgetary and fiscal reforms for an innovative, effective, and responsive government in the long term, Budget Secretary Benjamin E. Diokno said on Thursday. The reforms include the budget and treasury management… Read More
Local stocks up, peso sideways as trading week ends
November 23, 2018, 7:44 pm
MANILA -- The continued softening of world crude prices allowed the Philippine Stock Exchange index (PSEi) to finish the week with gains while the peso ended sideways due to consolidation. The PSEi further went up to 7,340.18 points, up 0.99 percent or 71.80 points. Aside from the drop in oil… Read More
Rice tariffs to solve consumer woes, boost productivity: NEDA
November 23, 2018, 6:26 pm
MANILA -- The National Economic and Development Authority (NEDA) on Friday welcomed the passage of the rice tariffication bill in the bicameral conference committee, which said this bill -- once signed into law and enforced -- will solve food supply issues and improve the country’s agricultural… Read More
BSP exec cites need to address agri sector knowledge gap
November 23, 2018, 5:15 pm
MANILA -- A ranking official of the Bangko Sentral ng Pilipinas (BSP) on Friday stressed the importance of encouraging banks to extend financing to the agricultural sector to bolster efforts aimed at alleviating poverty. In her speech during the Agriculture Value Chain (AVC) Forum held af the BSP… Read More
Flexible work space seen as new driver of office segment
November 23, 2018, 4:46 pm
MANILA -- Real estate service provider Santos Knight Frank, Inc. sees the flexible workspace arrangement as the next big growth driver of the Philippine property market. In a press briefing Friday, Santos Knight Frank Director for Occupier Service and Commercial Agency Francis Goño said a… Read More
CEZA exceeds 2017 revenue in Jan-Sept ‘18
November 23, 2018, 4:28 pm
MANILA -- Revenues generated by the Cagayan Economic Zone Authority (CEZA) during the first nine months of the current year alone has already surpassed its entire take in 2017, the agency reported Friday. CEZA Administrator and Chief Executive Officer Raul Lambino said revenue in January to… Read More
