Business
Consumer spending outlook for Q4 improves
September 7, 2018, 7:50 pm
MANILA -- Filipino consumers’ spending outlook on basic goods for the fourth quarter of 2018 has notably improved and this is expected to bring windfall benefits to the domestic economy. Results of the Bangko Sentral ng Pilipinas’ (BSP) Consumer Expectation Survey (CES), conducted from July… Read More
Peso stays afloat, local shares down on trade concerns
September 7, 2018, 7:44 pm
MANILA -- A host of concerns, both from overseas and in the domestic front continue to haunt Philippine equities but the peso was able to stay afloat as the week's trading came to a close on Friday. The local currency ended the week at 53.73 from 53.8 a day ago. A trader said the peso continued to… Read More
BSP to 'take strong immediate action' vs. inflation
September 7, 2018, 7:41 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has affirmed its readiness to “take strong immediate action using the full range of instruments in its toolkit” to address threats generated by higher-than-expected inflation, as demonstrated by its 100 basis points increase in key rates earlier… Read More
No delay in ease of doing business law IRR: DTI
September 7, 2018, 7:10 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez on Friday assured there will be no delay in the release of the implementing rules and regulations (IRR) of Republic Act No. 11032 or the Ease of Doing Business (EODB) and Efficient Government Service Delivery Act of 2018. Lopez… Read More
PH-Jordan ink USD60.7-M worth of deals
September 7, 2018, 3:14 pm
MANILA – Filipino and Jordanian firms inked some USD60.68 million worth of deals, including memorandums of agreement and letters of intent. In a statement Friday, Department of Trade and Industry Secretary Ramon Lopez said these deals are expected to yield economic cooperation between Manila… Read More
PRRD assures Jordanian investors of safe biz climate in PH
September 7, 2018, 3:10 pm
AMMAN, Jordan -- President Rodrigo Duterte assured Jordanian investors an environment conducive for business and return of investments in the Philippines as he encouraged them to come to the country."I guarantee a return of profit. There will be no corruption," Duterte said during the… Read More
Foreign investment pledges surge 70% in Q2
September 7, 2018, 2:55 pm
MANILA -- Approved foreign investments by investment promotion agencies (IPAs) took a big leap upward this year, rising 70.4 percent to PHP30.94 billion in April to June from only PHP18.16 billion during the same period in 2017. Data from the Philippine Statistics Authority (PSA) showed that the… Read More
Biz sentiment declines but outlook brighter for Q4
September 6, 2018, 7:59 pm
MANILA -- Business sentiment in the third quarter of 2018 slid to 30.1 percent, the lowest since the first quarter of 2010, from quarter-ago’s 39.3 percent due to inflation concerns, both domestic and global. However, a Bangko Sentral ng Pilipinas (BSP) official said the outlook is brighter in… Read More
DOF asks NFA to explain below-target rice procurement in 2017
September 6, 2018, 7:28 pm
MANILA -- The Department of Finance (DOF) has asked the National Food Authority (NFA) to immediately explain why it had procured palay stocks way below its projected buffer requirement in the second half of 2017 and revised its buying mix to heavily favor imports over rice from local farmers… Read More
PH markets shed on inflation, trade concerns
September 6, 2018, 7:09 pm
MANILA -- Worries emanating from rising inflation along with trade concerns overseas resulted in the negative close of both the Philippine Stock Exchange index (PSEi) and the peso, which narrowly missed a 13-year low against the greenback, Thursday. PSEi declined to 7,600-level after it shed 1.47… Read More
Local café says expansion prospects cooling as inflation heats up
September 6, 2018, 5:29 pm
MANILA – Despite the 10-percent to 20-percent increase in the cost of supplies due to inflation surge, homegrown coffee and coffeehouse chain Bo’s Coffee said it does not intend to increase prices. "Increasing prices is the last thing we do," Steve Benitez, Bo's Coffee founder, said in an… Read More
LGUs urged to clear rules on food allowed in schools
September 6, 2018, 4:40 pm
MANILA -- Local food manufacturers urged local government units (LGUs) to harmonize their standards on food products allowed for sale in schools and near their premises, according to an official of Nestle Philippines, Inc., a member of the Philippine Chamber of Food Manufacturers, Inc. Nestle… Read More
PH can afford shift to federal gov't: ConCom member
September 6, 2018, 3:10 pm
MANILA -- Professor Julio C. Teehankee, a member of the Consultative Committee (ConCom) tasked to review the 1987 Constitution, said the Philippine government can afford to shoulder the financial burden that accompanies the proposed shift to a federal government. In his speech during the third… Read More
Economists eye 50-bps hike in BSP rates as inflation surges
September 6, 2018, 3:07 pm
MANILA -- Several economists are projecting another hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates this September after inflation surged to nine-year high in August 2018 to 6.4 percent. In a research note, ING Bank Manila senior economist Joey Cuyegkeng said an “aggressive monetary… Read More
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
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
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
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
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
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
