Business
Rules on barter trade out in 2 months: DTI
October 31, 2018, 5:12 pm
MANILA -- Following the issuance of Executive Order (EO) No. 64 that revives the barter trade in Mindanao, the Department of Trade and Industry (DTI) targets to release the comprehensive guidelines governing barter in the next two months. In a text message Wednesday, DTI Secretary Ramon Lopez said… Read More
Diokno cites condition for proposed Bulacan airport
October 31, 2018, 5:01 pm
MANILA -- Budget and Management Secretary Benjamin Diokno said while the government has approved the proposed construction of an international airport in Bulacan, he is not sure if airline companies will automatically relocate from either Clark or the Ninoy Aquino International Airport (NAIA).… Read More
DTI chief okay with military taking over BOC
October 31, 2018, 10:05 am
MANILA -- Trade Secretary Ramon Lopez on Wednesday said there is nothing wrong with the decision of President Rodrigo Duterte to temporarily place the Bureau of Customs (BOC) under military control. This, despite concerns that it is a critical time to have the reorganization in the BOC with the… Read More
'Sin tax' collection improves
October 30, 2018, 9:08 pm
MANILA -- Government's enhanced collection measures allowed for an increase in sin tax revenues within the first nine months of 2018, the Department of Finance (DOF) reported. Finance Undersecretary Antonette Tionko said excise tax from alcoholic products rose 15.22 percent year-on-year to… Read More
Philrealty nets P44.5-M in 9 months
October 30, 2018, 8:30 pm
MANILA -- Premium property development firm, Philippine Realty and Holdings Corporation, grew its profit by a whopping 1,725 percent in the first three quarters of the year, driven by robust real estate sales and rental income. In a statement, Philrealty reported that net income after tax reached… Read More
Security Bank to open NAIA branches on Nov. 2
October 30, 2018, 8:08 pm
MANILA -- Security Bank announced on Tuesday that all its branches nationwide will be closed on Nov. 1, All Saints’ Day, but its branches at the Ninoy Aquino International Airport (NAIA) and NAIA Terminal 3 will be open for operations on November 2. November 2, All Souls’ Day, has also been… Read More
PH economy likely grew above 6% in Q3: FMIC, UA&P
October 30, 2018, 8:07 pm
MANILA -- Economic think tanks are betting that the Philippine economy expanded more than 6 percent in the third quarter of the current year, largely driven by robust investment spending and modestly rebounding exports. “The outlooks from the demand side --investments and exports-- still look… Read More
PSEi down on US-China trade issues, peso stays afloat
October 30, 2018, 8:05 pm
MANILA -- Investors' concerns over a possible worsening of the US-China trade war if the November meeting between US President Donald Trump and Chinese President Xi Jinping does not yield the desired results, pulled down the local bourse but the Peso managed to stay firm during Tuesday's trading.… Read More
BSP open to more foreign currency trading platforms
October 30, 2018, 7:43 pm
MANILA -- A ranking Bangko Sentral ng Pilipinas (BSP) official said monetary officials are open to the creation of additional Peso-foreign currency trading platforms to ease business transactions by skipping the use of the US dollar as an intermediate currency. In a briefing after the signing of… Read More
Auto industry projects 10% growth in 2019
October 30, 2018, 5:56 pm
MANILA -- The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) expects the local motor vehicle industry to recover in 2019 after the implementation of tax reforms at the start of this year, which reportedly caused a slump in vehicle sales. In an interview, CAMPI president… Read More
Creative industries next growth area in PH: Oxford Business Group
October 30, 2018, 1:39 pm
MANILA -- Studies by the Oxford Business Group (OBG) indicate that creative industries may be the growth engine that Southeast Asian countries, like the Philippines and Indonesia, need to counteract any slowdown in their respective economies. OBG Asia Regional Editor Patrick Cooke said the… Read More
ICC-CABCOM okays 2 Marawi rehab, 5 infra projects
October 29, 2018, 9:48 pm
MANILA — The National Economic and Development Authority (NEDA) Board Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved on Thursday two projects for the rehabilitation of Marawi City. These include the Rehabilitation and Development Plan (RDP) for a Greater Marawi –… Read More
Economist forecasts 6% growth in Q3
October 29, 2018, 8:09 pm
MANILA -- An ING Bank NV Manila Branch economist forecasted a 6.3 percent growth in the Philippine economy in the third quarter this year, higher than the 6 percent in the second quarter, due to stronger government spending. “We may have to see government spending step in to offset a projected… Read More
Local markets up on slower US GDP report
October 29, 2018, 7:28 pm
MANILA – The Philippine financial market began the trading week on a positive note, an apparent windfall from the slow down of the US economy in the third quarter. The Philippine Stock Exchange index (PSEi) gained 0.63 percent, or 44.70 points, to 7,109.03 points, which Regina Capital Managing… Read More
Legazpi, first Bicol LGU to adopt e-Payment System
October 29, 2018, 5:46 pm
LEGAZPI CITY -- The city government has started using an online payment mode using payers' credit cards in a bid to lessen the inconvenience of residents transacting with city hall. Mayor Noel Rosal, in an interview during his Monday press conference, said the online payment project is part of the… Read More
PH T-bill rates stabilizing: De Leon
October 29, 2018, 5:44 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) registered mix results Monday, which National Treasurer Rosalia de Leon said is part of a normalization phase brought about by expectations that inflation for the year has peaked. The bellwether 91-day paper’s average rate rose to 4.979… Read More
Construction sector opposes safeguard duties on cement imports
October 29, 2018, 5:01 pm
MANILA -- The Philippine Constructors Association (PCA) has rejected any move to impose safeguard measures on imported cement as this will only increase construction costs. In a position paper, the PCA said “the imposition of safeguard measures will surely tilt the balance and adversely affect… Read More
Oil firms lower pump prices ahead of holidays
October 28, 2018, 4:59 pm
MANILA — Motorists can expect lower prices of petroleum products ahead of the Nov.1 and Nov. 2 holidays, as oil firms will implement a big-time rollback on pump prices on Monday morning. In separate text messages, oil companies will cut prices of gasoline by PHP1.50 per liter, PHP0.60 per liter… Read More
GDP to grow 6.3% in 2018, 7% in 2019: BPI
October 26, 2018, 7:10 pm
MANILA -- The Philippine economy is expected to grow by 6.3 percent this year and accelerate close to 7 percent in 2019, underpinned by the government’s infrastructure push as well as election-related spending. Emilio Neri Jr., Vice President and lead economist at the Bank of the Philippine… Read More
Local markets end trading week higher
October 26, 2018, 7:09 pm
MANILA -- Local markets ended the trading week on a positive note after local shares were energized by Wallstreet's gains and the peso got an upward boost due to profit-taking. After a three-day slide, the Philippine Stock Exchange index (PSEi) recovered and rose 1.40 percent, or 97.49 points, to… Read More
