Business
August car sales hint recovery
September 26, 2018, 4:58 pm
MANILA – Automotive vehicle sales in August increased by 8.1 percent on a month-on-month basis, signaling what could be an end to sluggish sales in recent months, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported… Read More
BSP seen to hike rates further, cut RRR anew
September 26, 2018, 4:43 pm
MANILA – Though inflation is widely believed to have peaked in August, analysts still anticipate that the Monetary Board (MB) will go through with another hike in key rates on Thursday, September 27. Economists of First Metro Investments Corporation (FMIC) and the UA&P Capital Markets Research… Read More
Strong condo sales seen to boost DMCI Homes income this year
September 26, 2018, 1:09 pm
MANILA -- DMCI Homes expects to further boost its earnings this year with the consistent strong sales posted by its residential projects. One key contributor is Fairlane Residences in Kapitolyo, Pasig City which has posted PHP7.52 billion in total sales revenue as of Sept. 24, 2018. The… Read More
British firm ties up with Bataan to digitally aid teachers, students
September 26, 2018, 11:49 am
BALANGA CITY, Bataan-- A British company on Monday tied up with the city government of Balanga and the provincial government of Bataan to provide digital aid or platform to lessen the burden of teachers and help improve the learning capacity of students. “With the use of our platform, 85 percent… Read More
IPOPHL to roll out green lane for trademark applications
September 25, 2018, 9:42 pm
MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) is set to roll out a ‘green lane’ for trademark applications that will slash the average processing time for registration, which currently takes about eight months to be approved. In a statement Tuesday, IPOPHL said it will… Read More
BSP warns public against frauds, scams
September 25, 2018, 9:33 pm
LEGAZPI CITY -- The Bangko Sentral ng Pilipinas (BSP) on Tuesday warned the public against frauds and scams, in the wake of the fast approaching holiday season. Paulette Gay Menguilla, BSP spokesperson, in an interview said during Christmas season, fraudulent activities are very rampant as… Read More
Electronics industry to survive tax reforms
September 25, 2018, 9:08 pm
MANILA -- The local electronics industry can survive the scrapping of certain tax perks such as the 5-percent gross income earned (GIE), but radically revamping the Philippine Economic Zone Authority's (PEZA) processes may prove even more worrisome. Maxim Integrated Vice President for Asia Factory… Read More
Corporate income tax cuts won't lead to job losses
September 25, 2018, 8:45 pm
MANILA -- Finance Undersecretary Karl Chua said the removal of certain incentives under the proposed tax reform measure will not result in job losses. In an interview Tuesday after the Senate hearing on the Package 2 of the proposed tax reform, Chua said they have not determined which sectors will… Read More
RCBC Savings Bank to merge with mother unit
September 25, 2018, 8:07 pm
MANILA -- Rizal Commercial Banking Corp.’s (RCBC) Board of Directors has approved the merger of the bank’s subsidiary, RCBC Savings Bank, with RCBC. In a disclosure with the Philippine Stock Exchange (PSE) Tuesday, the bank said the Board’s decision was made on Monday, subject to approval by… Read More
Overseas trade concerns weaken local markets
September 25, 2018, 8:06 pm
MANILA -- Continued trade war concerns weighed heavily on the Philippines’ equities and the peso on Tuesday, with the latter ending the day at its nearly 13-year low against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.37 percent, or 101.44 points, to 7,332.17 points.… Read More
7-year PH T-bond rate up
September 25, 2018, 7:10 pm
MANILA -- The Bureau of the Treasury’s (BTr) auction committee on Tuesday made a partial award for the seven-year Treasury bond (T-bond) amid the spike in interest rates. The rate of the debt paper rose by 110.9 basis points to 7.085 percent from 5.976 percent previously.Deputy Treasurer Erwin… Read More
Book imports, purchases to remain tax-exempt: DOF
September 25, 2018, 2:41 pm
MANILA -- The Department of Finance (DOF) has assured the public on Tuesday that the purchase and importation of books will remain tax exempt under the second tax reform package of the Duterte administration. Finance Undersecretary Karl Kendrick Chua, in a recent news forum, said the value-added… Read More
Peso loses, local stocks gain on Monday
September 25, 2018, 11:11 am
MANILA -- The trade war between United States and China continues to drag the Philippine peso, but the local bourse seems to have worn out the effects of the external headwind. On Monday, Philippine peso continues to depreciate against a U.S. dollar on Monday, closing the day at 54.23 from… Read More
BTr rejects bids for P15-B T-bills
September 24, 2018, 9:22 pm
MANILA -- The Bureau of Treasury (BTr) has rejected all tenders for Treasury bills (T-bills) across three tenors on Monday’s auction. Deputy Treasurer Erwin Sta. Ana said the auction committee opted to be more prudent while waiting for the outcomes of meetings of the Monetary Board (MB) as well… Read More
Major infra projects turning Bulacan into next growth area: PCCI
September 24, 2018, 9:14 pm
MANILA -- The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, sees Bulacan benefiting from major infrastructure projects, specifically those that connect the province to Metro Manila and other areas in Luzon. In a statement Monday, PCCI Chairman… Read More
Gov’t urged to review slot allocation guidelines for new airports
September 24, 2018, 8:06 pm
MANILA -- Government is urged to decide whether to maintain the current system of allocating airport slots or come up with a new one that takes into account the projected competitive environment. In a public forum of Philippine Competition Commission (PCC) Monday, the anti-trust body’s… Read More
Local pump prices up again Tuesday
September 24, 2018, 7:34 pm
MANILA – Price movements in the international petroleum market have prompted local oil companies to increase pump prices anew, the third in as many weeks this month, effective 6 a.m. Tuesday. The price adjustments due to movements in the international petroleum market are simply being passed on… Read More
Supermarkets say it's hard to get permit to sell NFA rice
September 24, 2018, 7:18 pm
MANILA -- The Philippine Amalgamated Supermarkets Association (PAGASA) said members are finding it difficult to secure permits to sell subsidized rice from the National Food Authority (NFA), even it is was government that initiated moves to make it available in supermarkets. This is after PAGASA… Read More
Another airport near NAIA potentially unsafe: AirAsia PH
September 24, 2018, 5:45 pm
MANILA -- Philippines AirAsia, Inc. President and Chief Executive Officer Capt. Dexter Comendador said that developing another airport in the vicinity of Ninoy Aquino International Airport (NAIA) and several other airports in the country will pose added risk to aircraft in flight. In a public… Read More
Cement industry feeling ‘Build Build Build effect’
September 24, 2018, 3:14 pm
MANILA -- The local cement industry is poised to reap the benefits of the government's "Build Build Build" Program, as it gets ready for a major spike in demand for construction supplies because of various infrastructure projects in the pipeline. Republic Cement President Nabil Francis said demand… Read More
