Business
Infra program to boost PH growth in 2019
November 8, 2018, 6:49 pm
MANILA -- Global information firm IHS Markit remains optimistic about the Philippine economy's direction for the remainder of the year but expects stronger growth in 2019 with the Duterte administration’s “Build, Build, Build” program as main driver. IHS Markit APAC Chief Economist Rajiv… Read More
PH to maintain GDP growth within 6% level
November 8, 2018, 5:48 pm
MANILA -- The Philippine economy will continue to grow within the 6-percent level for the rest of the year and in 2019, according to London-based economic think-tank IHS Markit. In an e-mail Thursday, the firm's Chief Economist for Asia Pacific Rajiv Biswas said their gross domestic product (GDP)… Read More
AboitizLand sees no slowdown in demand for industrial space
November 8, 2018, 5:20 pm
MANILA -- AboitizLand, Inc. continues to see a robust demand for industrial spaces, pushing the company to look for more land acquisition opportunities throughout the country. In a media briefing on Wednesday, AboitizLand First Vice President of Operations Rafael Fernandez de Mesa said the… Read More
DOE, EU to energize 100K off-grid Mindanao households
November 8, 2018, 4:15 pm
MANILA -- The Department of Energy (DOE) and the European Union (EU) are pushing ahead with the energization of off-grid communities that would benefit close to 100,000 households, especially in the Bangsamoro region. EU Head of Development Cooperation Enrico Strampelli and DOE Undersecretary… Read More
Manufacturing sector can drive PH growth: Lopez
November 8, 2018, 3:42 pm
MANILA -- Strengthening the country’s manufacturing sector can add even more momentum to the national economy's growth, Department of Trade and Industry (DTI) Secretary Ramon Lopez told reporters Thursday. On the sidelines of the 3rd Philippine Construction Industry Congress in Pasay City, Lopez… Read More
DICT defends integrity of 3rd telco selection process
November 8, 2018, 3:40 pm
MANILA -- The Department of Information and Communications Technology (DICT) defended the validity and integrity of the bidding process, which resulted in the provisional awarding of the third telco slot to a consortium between Davao City-based holding company Udenna Corporation and Chinese… Read More
Imports drove PH trade growth in September
November 8, 2018, 2:19 pm
MANILA -- The country’s total merchandise trade grew stronger in September 2018 due to robust imports of capital goods, which is vital for the long-term growth of the domestic economy, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority (PSA) reported… Read More
PH economy grows 6.1% in Q3
November 8, 2018, 12:08 pm
MANILA -- The country’s gross domestic product (GDP) expanded 6.1 percent in the third quarter of the year, making it still one of the fastest growing economies in Asia, the government reported on Thursday. The economy accelerated 6.2 percent in the second quarter this year, and 7.2 percent… Read More
MPIC core earnings up 8% to P12.2-B
November 8, 2018, 12:08 pm
MANILA -- Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) reported Wednesday an 8-percent rise in core net income in the first three quarters of 2018, driven by its expanded power portfolio. MPIC told the local bourse its core profit reached PHP12.2 billion in January to… Read More
Pinoys conscious of health due to illness' impact on finances
November 7, 2018, 8:47 pm
MANILA -- Impact of illnesses on one’s finances have made Filipinos more conscious about their health. This may sound like a no-brainer, but results of a survey done by Hong Kong-based AIA Group (AIA), Philam Life’s parent company, showed that 84 percent of the 750 Filipino respondents from… Read More
Farm output down 0.83% in Q3
November 7, 2018, 8:14 pm
MANILA -- The country’s agricultural output declined slightly by 0.83 percent in the third quarter of 2018 mainly due to decreases in the output of the crops and fisheries subsectors. The Philippine Statistics Authority (PSA) reported on Wednesday that the crops subsector, which shared 45.58… Read More
USD1-B regional R&D hub for Maglev trains eyed in Cagayan ecozone
November 7, 2018, 8:13 pm
MANILA -- Cagayan Economic Zone Authority (CEZA) Administrator and Chief Executive Officer Raul Lambino and two Chinese firms have signed a memorandum of understanding (MOU) to establish a regional research and development (R&D) hub for Maglev technology transportation. Maglev, or magnetic… Read More
BOI foreign investment approvals up 156% in Jan.-Oct.
November 7, 2018, 8:06 pm
MANILA -- The Board of Investment (BOI) approved PHP39.3 billion worth of projects from foreign sources in the first 10 months of the year. BOI reported Wednesday that foreign investment pledges from January to October this year surged 156 percent from only PHP15 billion worth of projects… Read More
DOF eyes 6.5% GDP growth in Q3
November 7, 2018, 7:58 pm
MANILA -- The Department of Finance (DOF) is projecting "at least 6.5 percent" growth for the Philippine economy in the third quarter this year, higher than the upwardly revised 6.2 percent in the previous quarter. In a report to Finance Secretary Carlos Dominguez III, Finance Undersecretary and… Read More
Peso back at 52-to-USD level, PSEi down ahead of GDP report
November 7, 2018, 7:53 pm
MANILA -- The continued anticipation of another increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates before yearend lifted the peso back to the 52-to-the-greenback level Wednesday, but the Philippine Stock Exchange index (PSEi) retreated again ahead of a growth report. The peso ended the… Read More
Vista Land nets P8.3-B in 9 months
November 7, 2018, 7:49 pm
MANILA -- Vista Land & Lifescapes Inc. expects to sustain its growth momentum in the fourth quarter and achieve 15 to 17-percent earnings increase this year on the back of positive economic trend. “I think there are some positive things to look at in terms of the macroeconomic situation… Read More
Mislatel Consortium selected as provisional 3rd telco player
November 7, 2018, 7:48 pm
MANILA -- The joint venture between Davao City-based holding company Udenna Corporation and China Telecommunications Corporation (China Telecom) has been selected on Wednesday as the provisional new major telecommunications player in the country. Mislatel Consortium won the selection process after… Read More
AboitizPower nets P16.7-B in Jan.-Sept.
November 7, 2018, 6:33 pm
MANILA -- AboitizPower posted a net income of PHP16.7 billion in the January to September period this year, constituting a 6-percent growth from the PHP15.7 billion in the same period in 2017. The Aboitiz Group’s power generation, distribution, and retail electricity services arm also announced… Read More
TDF rates sustain rise
November 7, 2018, 5:39 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facilities (TDFs) rose across-the-board Wednesday while bid coverage ratio fell due to undersubscription in two of the three tenors. Data released by the central bank showed that the rate of the seven-day facility improved to… Read More
Oil prices to stay below USD80 per barrel till yearend: Cusi
November 7, 2018, 5:09 pm
MANILA -- World crude prices have been on a downward trend in recent weeks, fueling expectations that prices would not breach the USD80 per barrel in the remaining months of the year, the country’s top energy official said. In a briefing at Malacañan Palace Wednesday, Department of Energy (DOE)… Read More
