Business

Peso recovers but local shares down on profit-taking

Peso recovers but local shares down on profit-taking

September 14, 2018, 7:30 pm

MANILA -- The week's trading came to a close, seeing a recovery in the Philippine peso, but profit-taking got the better of the Philippine Stock Exchange index (PSEi) as investors cashed in on Thursday’s gains. The local currency ended the week at 53.97 from 54.07 a day ago, which Landbank… Read More

9-point plan seen to decelerate inflation

9-point plan seen to decelerate inflation

September 14, 2018, 7:13 pm

MANILA -- The administration's economic managers have proposed nine measures to immediately address food supply issues to bring inflation down by an estimated 2.4 percent. Budget Secretary Benjamin Diokno, in an interview after economic officials' meeting with Sen. Loren Legarda on Friday, said… Read More

BOI links big firms, MSMEs for inclusive business

BOI links big firms, MSMEs for inclusive business

September 14, 2018, 5:51 pm

MANILA -- The Board of Investments (BOI) said it will continue to promote the inclusive business model by encouraging stronger partnerships between big companies and smaller, community-based businesses. The BOI revealed that it has facilitated matching sessions between 75 micro, small, and medium… Read More

BOC told to release seized food items for relief ops

BOC told to release seized food items for relief ops

September 14, 2018, 9:30 am

MANILA – Finance Secretary Carlos Dominguez III has ordered Customs Commissioner Isidro Lapeña to release all seized food items in its warehouses so they can be added to the government's relief goods inventory in preparation for Typhoon Ompong. “Sid (Lapeña), Please release all seized rice… Read More

Bank of China cite benefits of direct RMB-Peso conversion

Bank of China cite benefits of direct RMB-Peso conversion

September 13, 2018, 9:17 pm

MANILA – The renewed economic ties between the Philippines and China should prompt Filipino businessmen into using the renminbi directly in their transactions with Chinese counterparts. In a statement, the Bank of China (BOC) said the Bangko Sentral ng Pilipinas (BSP) has recently given banks… Read More

Call centers now demanding ‘near-native’ English speakers

Call centers now demanding ‘near-native’ English speakers

September 13, 2018, 7:21 pm

MANILA -- Call center applicants should learn to speak English with American, Australian, or British accents as business process outsourcing (BPO) clients have expressed preference for “near-native” English speakers. During the formal launch of Teleperformance's 19th site in the country on… Read More

Where are American investors? Dominguez asks US envoy

Where are American investors? Dominguez asks US envoy

September 13, 2018, 7:17 pm

MANILA -- Finance Secretary Carlos Dominguez III has questioned the absence of American investors in the Duterte administration’s flagship infrastructure project to develop the Clark Freeport Zone, a former United States military airbase, into the country’s next big metropolis. In a meeting… Read More

Local markets bounce back on weak US economic reports

Local markets bounce back on weak US economic reports

September 13, 2018, 6:00 pm

MANILA -- Bargain hunting allowed the Philippine Stock Exchange index (PSEi) to cut short its eight-day losing streak Thursday, which also gave the peso a much needed boost. PSEi gained 0.92, or 68.17 points, to 7,517.37 points, which Landbank market economist Guian Angelo S. Dumalagan attributed… Read More

Filipino youth more workforce ready with K+12

Filipino youth more workforce ready with K+12

September 13, 2018, 5:59 pm

MANILA -- Teleperformance Philippines Managing Director Travis Coates said the implementation of the K+12 Basic Education Program is better preparing the Filipino youth to enter the workforce. Coates said the company is also benefiting from the fruits of the K+12, as senior high school graduates… Read More

Gatchalian open to retaining old tax incentive under TRABAHO Bill

Gatchalian open to retaining old tax incentive under TRABAHO Bill

September 13, 2018, 9:51 am

MANILA – Senator Sherwin Gatchalian on Wednesday said he is open to retaining the 5-percent gross income earned (GIE) tax incentive under the Tax Reform for Attracting Better and High-Quality Opportunities (TRABAHO) Bill, the second package of the tax reform program. On the sidelines of the… Read More

ADB pushes for further private sector role on transport infra

ADB pushes for further private sector role on transport infra

September 13, 2018, 7:54 am

MANILA -- Countries in the Asia Pacific region should craft policies that enable the growth of private sector participation on transport infrastructure projects, the Asian Development Bank (ADB) said. ADB President Takehiko Nakao said the private sector has a significant role on infrastructure… Read More

TDF rates sustain hikes but BSP cut next week's offering

TDF rates sustain hikes but BSP cut next week's offering

September 12, 2018, 8:40 pm

MANILA -- The rise in the rates of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) continued Wednesday but offering for next week’s auction was cut for the longer tenors. Data released by the central bank showed that rate of the seven-day facility went up to 4.3744 percent from… Read More

Banks given Nov. 30 deadline to include ACHs in their e-channels

Banks given Nov. 30 deadline to include ACHs in their e-channels

September 12, 2018, 7:32 pm

MANILA -- Banks that offer InstaPay and PESONet are given until November 30, 2018 to make available on their electronic banking (e-banking) channels these payment platforms. Memorandum No. M-2018-026, signed by Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi Fonacier on September 4, 2018,… Read More

Trade tensions continue to dampen local markets' performance

Trade tensions continue to dampen local markets' performance

September 12, 2018, 6:47 pm

MANILA -- External developments continue to contribute to the weakness of both the Philippine peso, which fell to its weakest since December 2005, and the Philippine Stock Exchange index (PSEi). The local currency ended Wednesday at 54.13, its weakest after the 54.155 on December 2, 2005. It shed… Read More

Foreign bizmen want PEZA regime to stay

Foreign bizmen want PEZA regime to stay

September 12, 2018, 6:46 pm

MANILA -- Executives from various foreign chambers of commerce in the country threw their support behind the Philippine Economic Zone Authority (PEZA) saying that current policies, including perks, extended by government to their members ought to be maintained. In a press conference during the… Read More

Financial literacy in PH gets boost

Financial literacy in PH gets boost

September 12, 2018, 6:08 pm

MANILA -- Teaching financial literacy to students got another lift through a multi-sectoral program to educate teachers on this topic and provide tools that will make financial education more interesting. Global payment technology provider Visa has partnered with the Bangko Sentral ng Pilipinas… Read More

MAP to gov’t: Deal with NCR traffic like Boracay mess

MAP to gov’t: Deal with NCR traffic like Boracay mess

September 12, 2018, 2:13 pm

MANILA -- The Management Association of the Philippines (MAP) has called on the government to address Metro Manila's worsening traffic congestion with the “same intensity” as in dealing with the environmental decay of Boracay. During the Arangkada Philippines Forum 2018 in Pasay City… Read More

DICT vows to name 3rd telco by December

DICT vows to name 3rd telco by December

September 11, 2018, 11:05 pm

MANILA – The Department of Information and Communications Technology (DICT) vowed to name the new major telco player, among many interested local and foreign firms, by December. This, as the DICT is finalizing the terms of reference for the selection process within this month. “That has been… Read More

PCCI backs TRABAHO Bill

PCCI backs TRABAHO Bill

September 11, 2018, 11:01 pm

MANILA -- The Philippine Chamber of Commerce and Industry (PCCI) has expressed support for the second package of the Comprehensive Tax Reform Program of the administration or the Tax Reform for Attracting Better and High-Quality Opportunities, also known as the TRABAHO Bill. In a press conference… Read More

Good macroeconomic policies to mitigate external shocks

Good macroeconomic policies to mitigate external shocks

September 11, 2018, 9:34 pm

MANILA -- An official of the Department of Finance (DOF) said maintaining good macroeconomic policies, among others, will shield the Philippine economy from economic shocks overseas. Because of fears arising from the financial woes of Turkey and Argentina as well as brewing trade wars among major… Read More