Business

Economic dev't cluster okays measures to ensure food supply

Economic dev't cluster okays measures to ensure food supply

September 5, 2018, 8:51 pm

MANILA -- The government’s Economic Development Cluster on Wednesday approved several measures to ensure adequate food supply in the country amid surging inflation, which rose to 6.4 percent in August 2018. “A committed effort from government in the agriculture sector to boost supply of key… Read More

Peso ends sideways, local stocks fall hard on inflation report

Peso ends sideways, local stocks fall hard on inflation report

September 5, 2018, 7:50 pm

MANILA -- The Philippine peso was little changed against the US dollar Wednesday but the Philippine Stock Exchange index (PSEi) took a beating following the release of August's inflation numbers, which increased risks caused by external developments. The local unit ended the day at 53.55 from… Read More

50 healthcare firms from EU seek opportunities in PH

50 healthcare firms from EU seek opportunities in PH

September 5, 2018, 7:09 pm

MANILA -- Representatives of fifty companies from the European Union (EU) are concluding their business mission here Wednesday, with eyes for establishing networks and partnerships with local companies in the healthcare and medical technology industries. The number of firms that took part in the… Read More

USD83-M deal with Israel proves vast opportunities in PH: Lopez

USD83-M deal with Israel proves vast opportunities in PH: Lopez

September 5, 2018, 7:08 pm

MANILA -- Trade Secretary Ramon Lopez said the almost USD83-million worth of business deals signed between the Philippines and Israel during President Rodrigo Duterte's three-day visit proved the vast investment opportunities available to foreigners in the Philippines. Duterte capped his Israel… Read More

LTFRB allows TNCs P2 per-minute charge

LTFRB allows TNCs P2 per-minute charge

September 5, 2018, 6:42 pm

MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has allowed all transportation network companies (TNCs) to impose a PHP2-per-minute charge to passengers as part of their fare structure. This as the LTFRB on Wednesday issued Memorandum Circular No. 2018-19 which sets a… Read More

Employment up, unemployment down in July: NEDA

Employment up, unemployment down in July: NEDA

September 5, 2018, 5:56 pm

MANILA -- The country’s labor force continued to grow, recording increased employment and lower unemployment in July 2018, the National Economic and Development Authority reported. The Labor Force Survey (LFS) of the Philippine Statistics Authority showed that employment rate rose to 94.6… Read More

TDF rates sustain rise

TDF rates sustain rise

September 5, 2018, 5:48 pm

MANILA -- The rate of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) rose anew Wednesday although banks submitted lower-than-accepted bids for the seven-day facility. Data released by the central bank showed that the rate uptick is for all the three tenors, with the… Read More

Grab to appeal P10-M fine for its per-minute charge

Grab to appeal P10-M fine for its per-minute charge

September 5, 2018, 5:37 pm

MANILA -- Ridesharing firm Grab Philippines is considering an appeal to the decision of the Land Transportation Franchising and Regulatory Board (LTFRB) to fine it PHP10 million due to its PHP2-per-minute charge. Grab reiterated that the per-minute charge is legal and in accordance with Department… Read More

Gov’t accelerating social mitigating measures vs. inflation

Gov’t accelerating social mitigating measures vs. inflation

September 5, 2018, 4:50 pm

MANILA -- Budget Secretary Benjamin Diokno said Wednesday the government is fast-tracking the implementation of social mitigating measures to soften the impact of elevated inflation on the poor. He was referring to, among others, the unconditional cash transfer (UCT) program, which targets some 10… Read More

NEDA calls for agri reform to lower food prices

NEDA calls for agri reform to lower food prices

September 5, 2018, 4:11 pm

MANILA -- A committed effort from agencies in the agriculture sector to boost output and introduce policy reform is needed to bring down prices of agricultural products, the National Economic and Development Authority said in a statement on Wednesday. The Philippine Statistics Authority (PSA)… Read More

Espenilla: August inflation due to 'cost push' factors

Espenilla: August inflation due to 'cost push' factors

September 5, 2018, 3:06 pm

MANILA -- The country's top banker described August's higher-than-expected inflation rate as "an unfortunate confluence of cost-push factors", of which "much of it has to do with food supply shocks," particularly on rice. Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. on… Read More

Economic think-tank says policy tightening to hold back PH growth

Economic think-tank says policy tightening to hold back PH growth

September 5, 2018, 1:57 pm

MANILA -- As inflation tests new heights, soaring to 6.4 percent in August, experts from economic research and analysis firm IHS Markit say further tightening of monetary policy is to be expected, and that such moves will also tame the country’s economic growth. Reacting to the nine-year high… Read More

'TRABAHO' bill to provide incentives to innovative firms

'TRABAHO' bill to provide incentives to innovative firms

September 4, 2018, 8:31 pm

MANILA -- Registered companies pursuing innovation and research and development (R&D) to grow their businesses will enjoy fiscal incentives under the Tax Reform for Attracting Better and High-quality Opportunities (TRABAHO) bill, an official of the Department of Trade and Industry (DTI) said on… Read More

CGC defends issuance of new memorandum circular

CGC defends issuance of new memorandum circular

September 4, 2018, 8:25 pm

MANILA -- The Governance Commission for GOCCs (CGC) on Tuesday clarified that its Memorandum Circular No. 2018-02 was issued to ensure timely approval and implementation of government projects. It issued a statement after former Office of the Government Corporate Counsel (OGCC) head Rudolf Jurado,… Read More

 Grab won't reimburse P2/min. charge to riders: LTFRB

Grab won't reimburse P2/min. charge to riders: LTFRB

September 4, 2018, 8:18 pm

MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has ordered ridesharing firm Grab Philippines not to reimburse the PHP2-per-minute charge to its riders. This, as the Board partially granted the motion for reconsideration filed by Grab on its order that suspended the… Read More

TESDA to create 50K new tech-voc programs to propel economy

TESDA to create 50K new tech-voc programs to propel economy

September 4, 2018, 8:00 pm

MANILA -- With national development as its main goal, the Technical Education and Skills Development Authority (TESDA) will create 50,000 new technical-vocational programs and targets to develop 50 percent of this before President Rodrigo Duterte's term ends. TESDA chief, Secretary Guiling… Read More

Local stocks recover, peso slides ahead of major data releases

Local stocks recover, peso slides ahead of major data releases

September 4, 2018, 7:31 pm

MANILA -- The Philippines’ main equity gauge finished Tuesday with gains even as investors await August's inflation rate report on Wednesday, but the peso lost steam against the US dollar. The Philippine Stock Exchange index (PSEi) recovered and gained 0.63 percent, or 49.60 points, to 7,881.82… Read More

PH climbs 10th spot in Sustainable Trade Index

PH climbs 10th spot in Sustainable Trade Index

September 4, 2018, 7:04 pm

MANILA -- The country’s ranking in the Hinrich Foundation's Sustainable Trade Index this year climbed three notches, rising to the 10th spot from 13th place in the 2016 report. The country also outperformed middle-income nations such as Malaysia and Thailand, placing 12th and 13th spots in this… Read More

Additional funding for maternity leaves needed

Additional funding for maternity leaves needed

September 4, 2018, 6:21 pm

MANILA -- Social Security System (SSS) President and Chief Executive Officer Emmanuel Dooc is hoping that before the extended maternity leave bill is fully enacted, legislators will likewise allow the increase in contribution rates to safeguard the agency’s acturial life. To date, SSS’… Read More

Globe deploys more LTE sites nationwide

Globe deploys more LTE sites nationwide

September 4, 2018, 4:38 pm

MANILA -- Telco giant Globe Telecom has deployed more Long-Term Evolution (LTE) sites across the country amid continuing upgrades and expansion of its network to address subscriber demand for data services. Globe said it has installed an additional 1,752 LTE sites carrying the 700 megahertz (MHz)… Read More