Business
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
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
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
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
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
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
