Business
Private enterprise urged to play key role in sustainable dev’t
October 8, 2018, 8:45 pm
MANILA – The country's business leaders encouraged fellow stakeholders in industry to invest in infrastructure that will support climate change resilience and sustainable development. Citing the Sendai Framework for Disaster Risk Reduction, SM Prime Holdings Chairman Hans Sy noted that having an… Read More
DOF, JICA sign agreement on eco-airport project
October 8, 2018, 8:43 pm
MANILA – The further expansion of the New Bohol Airport, or the Bohol-Panglao International Airport, is now underway following the signing by the Department of Finance (DOF) and the Japan International Cooperation Agency (JICA) of a supplemental loan agreement that will fund what is being touted… Read More
Peso stays strong but local shares weaken
October 8, 2018, 7:34 pm
MANILA -- The Philippine peso ended against the US dollar firm on Monday but the Philippine Stock Exchange index (PSEi) fell as investors digest news overseas, such as the one percent cut in Chinese banks’ reserve requirements ratio (RRR). The local currency finished the week’s first trading… Read More
Shipping firm bids for Sasa Port modernization project
October 8, 2018, 4:44 pm
MANILA -- Shipping firm Chelsea Logistics Holding Corporation (CLC) is eyeing to bid for the modernization of the Sasa port in Davao City as it submitted a unsolicited proposal to rehabilitate and expand port facilities to the Department of Transportation (DOTr). “If we look at the state of the… Read More
Month-on-month inflation slowing down: DTI chief
October 8, 2018, 4:30 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez on Monday said the pace of increase in prices of goods and services month-on-month has already slowed down. Although year-on-year inflation for September rose to 6.7 percent this 2018 from 3 percent in 2017, inflation last… Read More
Excise tax on oil to be invested in social services
October 8, 2018, 4:27 pm
MANILA -- Despite the call to suspend the excise tax on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) law, economic managers will continue to implement the policy, Trade Secretary Ramon Lopez said Monday. In an interview, Lopez said the tax collection from this… Read More
Bacolod City ‘Most Business-Friendly LGU’ nat’l finalist anew
October 8, 2018, 3:07 pm
BACOLOD CITY -- The Philippine Chamber of Commerce and Industry (PCCI) has again included Bacolod City in the finalists’ roster of this year’s Most Business-Friendly Local Government Unit (LGU) Awards under the City Level 1 Category. Mayor Evelio Leonardia in a statement on Sunday said he was… Read More
Homegrown Mindanao products on sale in Makati
October 7, 2018, 8:03 pm
MANILA — Homegrown products from numerous micro, small, and medium enterprises (MSMEs) from Mindanao are on display at Glorietta 3, Makati City for a four-day Mindanao Trade Expo (MTE) until Oct. 9. Yvette Marie Celi Punzalan, MTE Foundation Inc. board of director, said the 2018 expo features… Read More
Chelsea Logistics eyes 6 more new vessels
October 7, 2018, 7:48 pm
MANILA -- Chelsea Logistics Holding Corporation (CLC) is eyeing to acquire six new sea vessels, as it expands its fleet operations in the country. The company will invest around USD100 million for the acquisition of the vessels, CLC President and Chief Executive Officer Chryss Alfonsus Damuy said… Read More
PH needs to solve supply constraints to hit exports target: DTI
October 7, 2018, 10:17 am
MANILA -- The Philippines has to address the supply constraints in raw materials that limit the output of exporters in order to achieve the 8 percent to 9 percent exports growth target for this year, the country’s top trade official said. In an interview Friday, Department of Trade and Industry… Read More
Local markets treat inflation report as 'non-event'
October 5, 2018, 8:27 pm
MANILA – The Philippine Peso ended the week on a better footing against the greenback but the main equities gauge fell modestly. The local currency finished the trade at 54.23 from 54.32 a day ago, which a trader pointed to below-expected 6.7 percent inflation rate last September. Data released… Read More
Economist forecasts slower inflation
October 5, 2018, 8:10 pm
MANILA -- An economist of ING Bank NV Manila said the spike in inflation is likely to taper off by end-2018 partly because of government efforts to address the food supply issue, which contributed substantially to the abnormal rate of price increases in recent months. In a report, ING Bank NV… Read More
Tightening of BSP key rates expected
October 5, 2018, 8:00 pm
MANILA – Some economists forecast further tightening of the Bangko Sentral ng Pilipinas’ (BSP) key rates before yearend to counter rising inflation, which registered another uptick last September. ANZ Research, in a report, said the 6.7 percent inflation last September, from 6.4 percent in the… Read More
Typhoon ‘Ompong’ exacerbated food inflation: economist
October 5, 2018, 5:28 pm
MANILA -- Typhoon "Ompong" (Mangkhut), which ravaged parts of northern Philippines in September, contributed much to the increase in food prices, most especially agricultural goods, an economist from the IHS Markit said. IHS Markit Chief Economist for Asia Pacific Rajiv Biswas said in an e-mail… Read More
UK energy services firm eyeing PH solar farm projects
October 5, 2018, 5:26 pm
MANILA -- United Kingdom-based energy services firm, Wood Group Plc., is looking into investment opportunities in local solar farm projects, Trade Secretary Ramon Lopez disclosed on Friday. In an interview, Lopez said the Wood Group is among the British companies that expressed interest in the… Read More
DICT proposes P2-B budget for Nat'l Broadband Program
October 5, 2018, 3:16 pm
MANILA -- The Department of Information and Communications Technology (DICT) has formally proposed a budget of PHP 2 billion next year for the implementation of the National Broadband Program (NBP) in the country. The DICT said the budget will accelerate the rollout of the NBP, which is seen to… Read More
PH inflation seen to ease by yearend
October 5, 2018, 3:15 pm
MANILA -- The top economic managers of the Duterte administration remain optimistic that inflation will taper off by yearend after hitting a fresh nine-year high last month, mainly due to higher food prices caused by supply disruptions, immediately following the onslaught of Typhoon Ompong. In a… Read More
Non-monetary measures needed to bring down inflation: BSP
October 5, 2018, 3:13 pm
MANILA -- Non-monetary measures need to be put in place to help slow the rise of inflation and bring it back to government's two to four percent target in 2019. This, according to the Bangko Sentral ng Pilipinas (BSP) Friday amid another increase in the rate of price increases last September to… Read More
SoKor envoy asks Korean companies to 'invest, invest, invest' in PH
October 5, 2018, 10:53 am
MANILA – “Invest, invest, invest in the Philippines" -- this was the clarion call of South Korean Ambassador Han Dong-man as he urged South Korean companies to invest in the Philippines in response to President Rodrigo R. Duterte’s “Build, Build, Build” program which seeks to spur… Read More
Local markets weaken ahead of September inflation report
October 4, 2018, 9:09 pm
MANILA -- Bargain hunting pinned Philippines equities Thursday contributing to the peso’s weakness a day after both markets ended trading with gains. The Philippine Stock Exchange index (PSEi) finished the day at 7,093.34 points, down 1.63 percent or 117.53 points. All the other counters… Read More
