Business

Rate of 10--year treasury bond down on strong demand

MANILA - - Average rate of the Philippine government-issued Treasury bond (T-bond) declined Tuesday due to strong demand.Rate of the debt paper went down to 4.647 percent during Tuesday's auction, lower than the 4.718 percent in previous auction on Aug. 22.It’s current average rate, however,... Read More

Policymakers urged to study proposed shift to federal system

MANILA -- State think-tank Philippine Institute for Development Studies (PIDS) on Tuesday urged policymakers to undertake a comprehensive study of the proposed shift to a federal form of government which could address uneven developments in provinces and regions.“It’s not self-evident... Read More

BSP to continue payment, settlement operations on Sept. 21

MANILA --The Bangko Sentral ng Pilipinas (BSP ) will continue its payments and settlement operations on Thursday despite Malacanang's suspension of works in government offices and schools nationwide for that day."We're working on business as usual, at least to the extent necessary to support market... Read More

Filtration plant to rise in MisOr

CAGAYAN DE ORO CITY— Philippine food conglomerate San Miguel Corp. (SMC) will expand the use of its sprawling 50-hectare Misamis Oriental facility by putting up a water filtration plant in the province.Misamis Oriental Gov. Yevgeny Vincente Emano disclosed this last Sept. 18, a day after SMC... Read More

Vietnam's foreign currency lending skyrockets in 8 months

HANOI -- Vietnam's lending in foreign currencies grew 11.5 percent in the first eight months of this year, 6.7 fold higher than the same period last year.Meanwhile, lending in Vietnamese dong (VND) grew 11 percent, according to the country's National Financial Supervision Commission on Tuesday.Local... Read More

Max’s Group eyes 7 Sizzlin’ Steak stores in UAE

MANILA -- Max’s Group Inc. (MGI) has inked a partnership with Kasamar Holdings (KH) to bring Sizzlin’ Steak stores in United Arab Emirates (UAE).In a disclosure with the Philippine Stock Exchange Monday, MGI said the partnership with KH targets to build seven Sizzlin’ Steak outlets... Read More

Taiwanese firms to explore PH aquaculture mart

MANILA -- Ten Taiwanese companies will visit the Philippines next week to explore business opportunities in the country’s aquaculture market, the Taiwan External Trade Development Council (TAITRA) said.According to TAITRA, the visit of the Taiwanese firms here aims to promote bilateral... Read More

ING economist eyes USD450-M CA surplus for 2017

MANILA - - An economist of ING Bank Manila is optimistic that the Philippines will achieve a current account (CA) surplus in 2017 after an improvement was registered in the second quarter this year.Bangko Sentral ng Pilipinas (BSP) data showed that the country posted a USD15 million surplus from... Read More

PSEi surges for 3rd straight day, peso stays strong vs. USD

MANILA, -- The Philippines’ main stocks index’ rallied for the third day in a row Monday, closing at over 8,200-level on sustained rise in Wall Street.The Philippine Stock Exchange index (PSEi) surged by 1.39 percent, or 113.29 points, to 8,294.14 points, which PSE president and CEO... Read More

Wi-Fi rental available for travelers from Malaysia, PH, Indonesia

TOKYO, Sept. 13, 2017 /Kyodo JBN-AsiaNet/ --On September 13, 2017, Telecom Square, Inc. started offering WiFi router rental service, "Wi-Ho!," to travelers visiting Japan from Malaysia, the Philippines and Indonesia.(Logo: http://prw.kyodonews.jp/img/201709115499-O1-c1LB7ivc)With the 2020 Tokyo... Read More

DTI monitors product standards in markets

MANILA -- The Department of Trade and Industry (DTI) has strengthened monitoring of product standards in the local market through the Project Execution Team (PET) under the Fair Trade Enforcement Bureau (FTEB).From August up to this date, FTEB conducted the monitoring in Region 1, Region 4A as well... Read More

PSEi surges anew; peso flat vs. USD

MANILA- - The Philippines’ main stocks index rose to another record-high Friday while the peso finished flat against the dollar on strong demand for the greenback and higher-than-expected rise of remittances.The Philippine Stock Exchange index (PSEi) rose to 8,180.85 points, or by 0.44 percent... Read More

Moody’s keeps 6.5% GDP forecast for 2017  

MANILA - - Moody’s Investors Service has expressed optimism that the Philippine government will achieve its economic growth goal of 6.5 percent to 7.5 percent for this yearIn a report dated Sept.14, 2017, the debt rater cited the 6.4 percent output in the first six months of the year,... Read More

USD600-M current account deficit 'doable' : BSP

MANILA -- A ranking official of the Bangko Sentral ng Pilipinas (BSP) said the USD600- million current account (CA) deficit assumption for 2017 is “quite doable.”Data released by the Bangko Sentral ng Pilipinas (BSP) showed that in the first half of the year, the country registered a CA... Read More

Qatari Riyal can still be exchanged for peso: BSP

MANILA - - The Bangko Sentral ng Pilipinas (BSP) on Friday said Qatari Riyal (QAR) continues to be included in the currencies allowed to be exchanged with the Philippine peso.In a statement, the central bank said it made the clarification following some reports that some money changers (MCs) and... Read More

Economist doubts BSP rate hike next week

MANILA - An economist of DBS Bank Ltd. on Friday expressed doubt that the Bangko Sentral ng Pilipinas (BSP will raise its key rates when the Monetary Board meets on Sept. 21, 2017.DBS Group Research economist Gundi Cahyadi, however, said a hike is possible in the last quarter this year and the first... Read More

ASEAN Economic Community offers prospects for increased trade

MANILA -- The establishment of the Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) has benefited businesses and consumers, as well as offered prospects for increasing trade with trading partners.Lim Hong Hin, Deputy Secretary General of ASEAN for AEC, said ASEAN is now the... Read More

Car sales grow 8.7%

MANILA -- Automotive vehicle sales in August has increased by 8.7 percent year-on-year reaching 35,309 units this year from 32,472 units in 2016.In the joint report of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) released Friday,... Read More

Water rates hike looms

MANILA -- Maynilad Water Services, Inc. is expected to increase its average basic water charge by 9.89 percent after the Regional Trial Court (RTC) Branch 93 of the Quezon City granted Maynilad’s Petition for Confirmation and Enforcement of Arbitral Award.“Once the RTC decision... Read More

EO on Foreign Investment Negative List out before year end

MANILA -- The Duterte administration expects to release before the year ends an executive order (EO) to enforce its Foreign Investment Negative List (FINL), as it pursues aggressive liberalization policies designed to attract more foreign players into the economy.“It has to go the NEDA... Read More