Business
New Clark City, a priority of Duterte admin: Dominguez
September 11, 2018, 8:40 pm
MANILA – Finance Secretary Carlos Dominguez III said while the implementation of various infrastructure projects is important to the Duterte administration, the completion of New Clark City is deemed especially significant. “Our priority is the Clark City Development and we have put money in… Read More
Peso stays put despite depreciation risks, PSEi continues decline
September 11, 2018, 7:49 pm
MANILA -- The Peso ended Tuesday's session sideways against the US dollar despite the strong pull towards the 54-level but the Philippine Stock Exchange index (PSEi) declined for the fifth straight day on trade war concerns overseas and rise of domestic inflation rate. The local unit ended the day… Read More
Logistics firm expands facility in PH
September 11, 2018, 6:57 pm
MANILA -- Logistics solutions provider Black Arrow Express has invested in a larger facility to accommodate increasing shipment volumes from e-commerce orders. Black Arrow Express President Allan Brizuela said in a statement Tuesday that the company is moving to a three-storey warehouse facility… Read More
Treasury bureau rejects bids for 10-year T-bond
September 11, 2018, 5:40 pm
MANILA -- The Bureau of Treasury’s (BTr) auction committee on Tuesday rejected all bids for the 10-year Treasury bond due to undersubscription and demand for high yields. It offered the debt paper for PHP15 billion but total tenders only amounted to PHP12.737 billion. Had the auction committee… Read More
PCCI execs unfazed by 6.4% inflation
September 11, 2018, 4:07 pm
MANILA -- Top officers of the Philippine Chamber of Commerce and Industry (PCCI) are taking the 6.4 percent August inflation rate in stride, even as they called on economic managers to apply the necessary remedial measures to counter price surges. In a press conference Tuesday, PCCI Honorary… Read More
Economic intervention needed to cushion Bicol inflation: Salceda
September 11, 2018, 2:13 pm
LEGAZPI CITY -- Albay Rep. Joey Salceda on Tuesday called for an immediate economic intervention to mitigate the effects of soaring inflation in the Bicol region. Salceda said the 9-percent inflation rate that hit Bicol is already a cause for alarm since it is the highest in the country,… Read More
Measures to curb inflation underway: Lambino
September 10, 2018, 9:38 pm
MANILA – An official of the Department of Finance (DOF) allayed fears surrounding the country's elevated inflation rate, citing recently approved measures aimed at addressing supply constraints. DOF Assistant Secretary Tony Lambino, during the launch of the Presidential Communications Operations… Read More
Trade concerns continue to weigh down local markets
September 10, 2018, 9:05 pm
MANILA -- Trade tensions overseas weighed down both the local bourse and the peso on Monday, with US President Donald Trump's threat to slap Chinese products additional tariff on top of the USD200 billion announced earlier, fuelling investors' worries. The Philippine Stock Exchange index (PSEi)… Read More
AI-based tech firm opens PH office
September 10, 2018, 9:04 pm
MANILA -- Singapore-based AnyMind Group, a provider of artificial intelligence (AI) solutions in advertising, marketing, and human resource (HR) industries, has opened its office in Manila -- its 13th in Asia. AnyMind Philippines Country Manager Phuong Nguyen told the Philippine News Agency in an… Read More
2019 poll could boost policy-making in PH: Fitch unit
September 10, 2018, 8:26 pm
MANILA – A commentary of Fitch Solutions Macro Research said the midterm elections in the Philippines next year could boost policy-making in the country and may even be positive for the administration’s push towards federalism. According to the commentary, Senate seats are seen to be filled up… Read More
Pump prices up P0.65 per liter Tuesday
September 10, 2018, 7:54 pm
MANILA -- Prices of liquid fuels will uniformly go up by an additional PHP0.65 per liter effective 6 a.m. Tuesday, September 11. In separate announcements, local oil companies said the impending price adjustment reflects the upward movements in the international petroleum market which are being… Read More
TRAIN's contribution to oil price hikes only around 20%
September 10, 2018, 7:39 pm
MANILA -- Finance Assistant Secretary Tony Lambino clarified that only about 20 percent of the increase in local pump prices can be attributed to Tax Reform for Acceleration and Inclusion (TRAIN) Law. In his presentation during the launch of the Presidential Communications Operations Office (PCOO)… Read More
Rice prices to stabilize by November: DA chief
September 10, 2018, 7:18 pm
MANILA -- Agriculture Secretary Manny Piñol on Monday said the price of rice will stabilize by November, owing to the onset of the harvest season as well as the arrival of overdue rice imports. “Sa presyuhan (In pricing), I believe that this will stabilize. Rice prices will stabilize by… Read More
T-bill rates up, BTr partially awards 91-day paper
September 10, 2018, 4:31 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday as market players anticipate another increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates later this month. Average rate of the 91-day paper went up 32.4 basis points to 3.549 percent from 3.225… Read More
PISI reiterates call to ban outdated steel-making furnaces
September 10, 2018, 3:06 pm
MANILA -- The Philippine Iron and Steel Institute (PISI) has reiterated its call on government to ban obsolete induction furnaces producing substandard steel bars as well as intensifying market monitoring and enforcement campaign. In a statement Monday, PISI President Roberto Cola said that the… Read More
NEDA readies measures to cushion inflation in Bicol
September 10, 2018, 2:48 pm
LEGAZPI CITY -- National Economic and Development Authority (NEDA) officials in Bicol brushed aside gloomy prospects following a surge in inflation, saying that contingency measures are in place to cushion the effects of rising prices. Agnes Espinas Tolentino NEDA regional director in an interview… Read More
No manipulation of Aug. '18 inflation report: NEDA chief
September 10, 2018, 8:44 am
MANILA -- Socioeconomic Planning Secretary Ernesto Pernia countered allegations that the government is manipulating inflation figures, especially the rise of the August 2018 rate to 6.4 percent. There have been talks among economists that initial report for the rate of price in the eighth month… Read More
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
