Business
Local markets' resiliency shines through as trading week closes
October 12, 2018, 7:46 pm
MANILA — News of a one-on-one talk between US President Donald Trump and China President Xi Jinping at the G20 meeting in Buenos Aires next month, possibly ending the trade standoff, enabled local stocks to end the week with gains and the Peso to sustain its firmness. The Philippine Stock… Read More
Pru Life UK exec optimistic about peso-hedged product
October 12, 2018, 7:44 pm
MANILA -- Filipinos are now considered mature enough in their investment choices and their appetite for products, much toned down from their risky tastes in investment in the past. Pru Life UK Chief Investment Officer Anthony Garces told the Philippines News Agency (PNA) on Friday that Filipino… Read More
China Telecom to bid for 3rd telco slot
October 12, 2018, 5:38 pm
MANILA -- China Telecom on Friday purchased bidding documents, formally signaling its participation in the selection process for the next major player in the country's telecommunications industry. The Chinese telco firm is the second foreign company, after Norway’s Telenor Group, to express… Read More
No price hike for Pinoy Tasty, Pinoy Pandesal until December: DTI
October 12, 2018, 8:29 am
MANILA -- There is no movement in the prices of Pinoy Tasty and Pinoy Pandesal until December this year, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. In a text message, Lopez said the price of Pinoy Tasty remains at PHP35 per loaf, while Pinoy Pandesal at PHP21.50 per… Read More
DOTr to grant original proponent status on Davao, Kalibo airport bids
October 12, 2018, 6:33 am
MANILA — The Department of Transportation (DOTr) is set to grant original proponent status (OPS) on the proposals to expand, operate and manage the Davao and Kalibo International Airports. This, as a resolution for the granting of the OPS to unsolicited proposals for both airports is now… Read More
Structural reforms to prevent liquidity problem contagion in EMs
October 11, 2018, 8:00 pm
MANILA -- Improved fundamentals is expected to cushion the impact of tightening global liquidity in emerging markets (EMs), including the Philippines. In a report, Standard & Poor’s Global Ratings discounted the possible spread of potential liquidity problems in most EMs as a result of interest… Read More
Auto sales down by 9.7% in September
October 11, 2018, 7:32 pm
MANILA -- The sales of automotive vehicles in September this year posted a 9.7-percent decrement to 31,116 units from 34,445 unit sales, a joint report released Thursday by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and Truck Manufacturers Association (TMA) revealed. Both… Read More
Peso ends flat; PSEi slides again in Thursday trading
October 11, 2018, 6:49 pm
MANILA -- Foreign selling, triggered by concerns over the US-China trade war, once again spread bearishness in the Philippines equities market Thursday and resulted in a flat close for the peso against the greenback. The peso finished the trade at 54.18, which a trader said is in line with… Read More
PEZA head seeks meeting with PRRD on TRAIN-2
October 11, 2018, 4:34 pm
MANILA -- Philippine Economic Zone Authority (PEZA) Director General Charito Plaza wants to talk directly to President Rodrigo Duterte to discuss her agency’s concerns about the second package of the tax reform program. On the sidelines of the Economic Journalists Association of the Philippines… Read More
PT&T seeks 3rd telco slot
October 11, 2018, 3:47 pm
MANILA -- The Philippine Telegraph and Telephone Company (PT&T) formally threw its hat in the race to become the new major player in the local telecommunications industry. This, as PT&T purchased bidding documents Wednesday joining bidders Udenna Corporation of Davao-based businessman Dennis Uy,… Read More
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
