Business
Grab to lower surge rates for holiday season
October 22, 2018, 7:52 pm
MANILA -- Ridesharing firm Grab Philippines is set to lower the surge rate on its fares amid increasing demand for ride among its passengers for the holidays, a company official said Monday. “If you see that prices are always surging due to lack of supply and higher demand, that surge cap would… Read More
BTr fully awards T-bills as rates correct
October 22, 2018, 7:10 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday but Deputy Treasurer Erwin Sta. Ana said the upticks are within their expectations, thus, the full award for all tenors. The average rate of the bellwether 91-day securities rose to 4.952 percent from 4.404… Read More
P7.8-B first eco-airport to be inaugurated by November: CAAP
October 22, 2018, 7:10 pm
MANILA – The Panglao International Airport being constructed on Panglao Island in Bohol will be inaugurated by November, Civil Aviation Authority of the Philippines (CAAP) spokesperson Eric Apolonio told the Philippine News Agency (PNA) on Monday. The PHP7.8-billion project, also known as the… Read More
Gov’t won't lose from oil excise tax suspension: consumer group
October 22, 2018, 6:22 pm
MANILA – Consumer group Laban Konsyumer Inc. (LKI) said government does not stand to lose should the second installment of the oil excise tax increase be put on hold. In a statement, LKI President Victorio Mario Dimagiba said the government will still be able to get good revenues from petroleum… Read More
ITBPO firms giving PEZA a second look
October 22, 2018, 4:30 pm
MANILA -- The information technology and business process outsourcing (ITBPO) sector is showing renewed interest in the Philippine Economic Zone Authority (PEZA) as evidenced by a rebound in investment pledges since August, its director general Charito Plaza said Monday. In a media briefing, she… Read More
MARINA allows Negros Navigation to operate VisMin routes for Undas
October 22, 2018, 11:14 am
MANILA -- The Maritime Industry Authority (MARINA) has granted a permit to Negros Navigation Company Inc. to operate along various routes in the Visayas and Mindanao to address passenger demand for the All Saints and All Souls Day break. Negros Navigation, a holding company of 2GO Group Inc., will… Read More
PEZA chief open to hike in GIE perk under TRABAHO bill
October 21, 2018, 1:08 pm
MANILA — Philippine Economic Zone Authority (PEZA) Director General Charito Plaza on Thursday reiterated her call to legislators not to scrap the gross income earned (GIE) incentive under the Tax Reform for Attracting Better and High-Quality Opportunities or TRABAHO bill, but the agency is… Read More
Big time gasoline price rollback Monday
October 20, 2018, 9:54 pm
MANILA — Pump prices are set to go down for the second week in a row, but this time private motorists will be the big winners owing to a big drop in the price of unleaded gasoline effective 6 a.m., Monday (Oct. 22). At least one oil firm disclosed as early as Saturday afternoon that gasoline… Read More
BPI ATMs glitch solved early Saturday: BSP exec
October 20, 2018, 8:35 pm
MANILA - - A ranking official of the Bangko Sentral ng Pilipinas (BSP) said the problem about the automated teller machines (ATMs) of the Ayala-led Bank of the Philippine Island (BPI) has been resolved early Saturday. On Friday night, some BPI clients took to social media to complain about not… Read More
VAT collections to soften brunt of oil excise tax hike suspension
October 19, 2018, 8:45 pm
MANILA — Value added tax (VAT) collections from petroleum products are expected to partially compensate for lost government revenues arising from a suspension of the oil excise tax hike scheduled for 2019. Finance Undersecretary Gil Beltran told reporters Friday that although the government is… Read More
Inflation to decline below 4% level next year: BPI economist
October 19, 2018, 8:07 pm
MANILA — The country’s inflation is expected to fall below the 4-percent level by the second half of 2019 due to the expected normalization of oil prices after peaking this quarter, a leading bank's economist said. Emilio Neri Jr., Vice President and lead economist at the Bank of the… Read More
Local markets end week with gains amid mix out-turn in Asia
October 19, 2018, 8:05 pm
MANILA -- Both the Philippine Peso and the main equities gauge ended the week higher even while its regional counterparts went in different directions. The local currency ended Friday’s session at 53.7 from the previous session’s 53.965 close, which a trader attributed to the drop in global… Read More
Banks ordered to report tech glitches w/in 2 hrs
October 19, 2018, 8:02 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) will now be requiring all banks to submit an initial report on any cybersecurity issues in their system within two hours of its discovery. At the sidelines of the Euromoney Investment Forum in Makati City Friday, Bangko Sentral ng Pilipinas (BSP)… Read More
Hear Japanese firms’ concerns on TRABAHO bill, envoy asks
October 19, 2018, 8:00 pm
MANILA -- Japanese Ambassador Koji Haneda has urged the Philippine government to listen to the concerns of Japanese companies doing business locally, about the looming removal of certain fiscal incentives that will come as a result of a key tax reform measure. In his speech at the 44th Philippine… Read More
PH, Japan set to ink exchange of notes on railway projects
October 19, 2018, 7:59 pm
MANILA -- The Philippine and Japanese governments will sign an exchange of notes very soon, which will cover deals on railway projects in the country, Japan’s top diplomat here revealed. During the 44th Philippine Business Conference and Expo on Friday, Japanese Ambassador to the Philippines… Read More
Assets of Batangas coops reach P6.5-B , P2.2-B members’ equity
October 19, 2018, 5:17 pm
BATANGAS CITY – The total assets of 319 cooperatives across Batangas province reached PHP 6.5 billion this year, the Provincial Cooperative, Livelihood and Enterprise Development Office (PCLEDO) reported Friday. Jenelyn A. Aguilera, chief of the Batangas Public Information Office (PIO) told the… Read More
Diokno positive on oil excise tax hike suspension
October 19, 2018, 4:47 pm
MANILA -- Budget Secretary Benjamin Diokno is optimistic that the proposed suspension of the fuel excise tax hike for 2019 will push through but said reviews will be done, including an outlook on international petroleum prices for 2020. In an interview on the sidelines of the Euromoney investment… Read More
4 energy reform measures to cut power bill by 15%
October 19, 2018, 4:18 pm
MANILA -- Four pieces of legislation being pushed at the Senate would lower power costs by up to 15 percent, Senator Sherwin Gatchalian said Thursday. These bills shall be passed simultaneously to ensure that their combined impact is felt by consumers, Gatchalian, who chairs the Senate committee… Read More
Only 20% of PH’s small banks ready for digitalization: report
October 19, 2018, 2:13 pm
MANILA -- Officials of thrift and rural banks, as well as microfinance institutions and cooperatives, recognize the importance of digitalization in their operations but only about 20 percent of them are ready for it. According to an Inclusive Digital Finance (IDF) report titled, “Are Philippine… Read More
SRP for rice takes effect next week
October 18, 2018, 10:09 pm
MANILA — The government will enforce starting Oct. 23 the suggested retail prices (SRP) for both imported and locally grown rice at PHP37 to PHP47 per kilo in a bid to arrest profiteering by some traders. Department of Agriculture (DA) Secretary Emmanuel Piñol said that in consultation with… Read More
