Business
DTI says port congestion no excuse to hike prices
October 11, 2018, 3:45 pm
MANILA -- Trade Secretary Ramon Lopez echoed the statement of Bureau of Customs (BOC) Commissioner Isidro Lapeña that the Port of Manila is not congested hence, port congestion cannot be used as an excuse to raise the prices of goods. In a statement Monday, Lopez said he had a meeting with… Read More
Rice contribution to inflation grew tenfold: DOF
October 11, 2018, 2:33 pm
MANILA -- Basic food items, such as rice, fish, meat and vegetables, have been major drivers of inflation this year with the contribution of rice rising 10 times to 1 percentage point of the inflation rate, the Department of Finance (DOF) said in a statement on Thursday. According to the… Read More
DOE urges regional dev't councils to adopt energy plan
October 10, 2018, 9:32 pm
ILOILO CITY — The Department of Energy (DOE) urged Regional Development Councils (RDCs) around the country to adopt the Philippine Energy Plan (PEP) 2017-2040 in order to secure the country's energy needs over the next three decades. In an interview at the sidelines of the “Energy 101 for… Read More
Global Finance gives BSP chief B+ grade
October 10, 2018, 8:06 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. received a B+ grade from the Global Finance magazine’s Central Banker Report Cards 2018, his first scorecard after taking the helm in July 2017. The magazine did not give Espenilla a grade in 2017 saying then that it… Read More
Peso holds ground but local stocks head south
October 10, 2018, 7:41 pm
MANILA -- The Philippine peso continued to show resiliency against the US dollar, but trade war jitters hit the equities market anew, causing the main index to retreat to the 6,900-level on Wednesday. The local currency finished the trade at 54.18 from 54.24 a day ago, bouyed by what a trader… Read More
UK audit firm to monitor Grab’s operations
October 10, 2018, 7:31 pm
MANILA – The Philippine Competition Commission (PCC) has selected United Kingdom-based auditing firm, Smith & Williamson, to monitor the operations of ridesharing firm Grab Philippines. The commission said Smith & Williamson will keep track for a period of one year Grab’s compliance with the… Read More
Fiserv exec sees great potential in PH banking system
October 10, 2018, 7:02 pm
MANILA -- A top executive of Fiserv, a global financial services technology firm, is optimistic about the further digitalization of the local banking system due to a supportive regulatory environment. Marc Mathenz, SVP and Managing Director for Asia Pacific, said the Philippines and other emerging… Read More
Implementation of strategies key to boost exports, trade: NEDA
October 10, 2018, 5:08 pm
MANILA -- The National Economic and Development Authority (NEDA) is pushing for the implementation of fresh strategies, including the removal of unnecessary regulatory impediments to boost exports crucial to sustaining total trade growth. NEDA Officer-in-Charge and Undersecretary Rosemarie Edillon… Read More
'Unimpeded' rice import to moderate inflation: study
October 10, 2018, 3:43 pm
MANILA -- An ING Bank report sees a possible deceleration in the Philippines’ inflation rate as a result of the liberalization of rice importation, which will immediately address supply issues in the domestic market. Citing reports, ING’s publication THINK, issued last Oct. 9, and jointly… Read More
WPS issue not discussed in PH-China infra cooperation talks: DOF
October 10, 2018, 3:41 pm
MANILA -- Big-ticket infrastructure and development projects to be rolled out by the Philippines in cooperation with China are proceeding as discussed during the regular high-level meetings between the two countries, with an initial three loan accords due for signing before the year-end, the… Read More
TDF rates rise anew
October 10, 2018, 1:29 pm
MANILA -- The rates of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) continued to rise in step with the upward movement of domestic interest rates although bid coverage ratio fell across-the-board. Data released by the central bank Wednesday showed that the weighted average… Read More
Now Telecom case vs. NTC delaying selection of 3rd telco: DICT
October 10, 2018, 10:21 am
MANILA -- The Department of Information and Communications Technology (DICT) has accused third telco aspirant, Now Telecom, of delaying the selection process for the new major player in the local telecommunications industry when it filed a case against the National Telecommunications Commission… Read More
ITBPO group to discuss digital disruption in industry summit
October 9, 2018, 7:52 pm
MANILA -- The Information Technology and Business Process Association of the Philippines (IBPAP) announced on Tuesday that digital disruption will be in the spotlight in its 10th year summit next month. Digital disruption is described as a transformation caused by emerging digital technologies and… Read More
Bicam OKs bill strengthening state pension fund
October 9, 2018, 7:51 pm
MANILA -- The Social Security System (SSS) announced in a statement on Tuesday that senators and congressmen comprising the bicameral conference committee approved the bill seeking to amend the 21-year-old charter of the state-run pension fund. SSS President and Chief Executive Officer Emmanuel F.… Read More
Local markets end flat Tuesday on US-China trade concerns
October 9, 2018, 7:48 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the Peso ended flat on Tuesday as investors stayed on the sidelines given the trade war concerns and budget issues overseas. The PSEi ended the day at 7,059.38 points, up by 0.12 percent or 8.56 points. Landbank market economist Guian… Read More
Zalora sees bright prospects for PH market
October 9, 2018, 7:03 pm
MANILA -- An executive from online fashion retailer Zalora has expressed optimism in the Philippine market amid robust e-commerce activities taking place in the digital-savvy country. Trade Secretary Ramon Lopez met with Zalora co-founder Christoph Barchewitz during the economic cluster’s London… Read More
BTr partially awards 5-yr T-bond
October 9, 2018, 5:27 pm
MANILA -- The Bureau of the Treasury (BTr) on Tuesday partially awarded the five-year Treasury bond (T-bond) as investors continue to ask for high yields. The average rate of the debt paper rose to 7.342 percent, higher than the 5.902 percent it fetched during the auction last August 14.… Read More
DBP, GenTri tie up to ease business processes
October 9, 2018, 3:52 pm
GENERAL TRIAS CITY, Cavite -- Residents and business owners here can now pay their real property tax dues through debit, credit and prepaid cards “anytime, anywhere” online. This, after the city government of General Trias partnered with the Development Bank of the Philippines (DBP) to avail… Read More
PH still 'interesting market' for ITBPO firms: IBPAP
October 9, 2018, 3:52 pm
MANILA -- The Philippines continues to be an interesting market for information technology and business process outsourcing (ITBPO) companies, IT and Business Process Association of the Philippines (IBPAP) President Rey Untal said. Untal said in a briefing Tuesday that there are incoming locators… Read More
5 firms bid for third telco: DICT
October 9, 2018, 11:49 am
MANILA -- Five companies have submitted bidding documents for the awarding of the new major player in the local telecommunications industry as the Department of Information and Communications Technology (DICT) have started the selection process on Monday. Among the companies that expressed their… Read More