Business

Peso keeps ground, PSEi down on Turkey concerns

Peso keeps ground, PSEi down on Turkey concerns

August 14, 2018, 7:50 pm

MANILA -- Risk off sentiment on account of the financial crisis in Turkey continues to hurt the Philippines’ equities market but the peso stays firm amid concerns. The local currency ended the day almost unchanged at 53.39 from Monday’s 53.37. It opened the day at 53.5, a drop from… Read More

5-yr T-bond rate up

5-yr T-bond rate up

August 14, 2018, 6:22 pm

MANILA -- Average rate of the Philippines’ five-year Treasury bond (T-bond) rose by 31 basis points Tuesday, but National Treasurer Rosalia De Leon said this is within their expectations given the rise in central bank’s key rates. Rate of the debt paper averaged at 5.902 percent from 5.592… Read More

DTI to study proposal on zero duty for imported tins

DTI to study proposal on zero duty for imported tins

August 14, 2018, 5:26 pm

MANILA -- Trade Secretary Ramon Lopez on Tuesday said his department has to study the proposal from the House of Representative to scrap import duties on some tin products aiming to help ease the rising inflation. Kabayan Party-list Representative and Member of House Committee on Economic Affairs… Read More

HSBC eyes bright future for digital banking in PH

HSBC eyes bright future for digital banking in PH

August 14, 2018, 5:23 pm

MANILA -- Officials of banking giant HSBC are optimistic on the digitalization of payments and other banking services in the Philippines given the large number of young Filipinos and the low base of digital transactions in the country. In a briefing Tuesday, HSBC Philippines President and Chief… Read More

Davao's landmark hotel upgrades facilities for millennial market

Davao's landmark hotel upgrades facilities for millennial market

August 14, 2018, 4:11 pm

DAVAO CITY – One of this city’s old landmark hotels is catching up with developments in hotel and high-rise residential sectors by refurbishing old facilities to cater to the millennial marketBuilt in 1948, the Apo View Hotel turned 70 years old this year and still stands amid close… Read More

Diesel, Gasoline prices up again on Tuesday

Diesel, Gasoline prices up again on Tuesday

August 13, 2018, 8:49 pm

MANILA -- Local oil companies are set to implement a modest increase in the prices of unleaded gasoline and diesel effective 6 a.m. Tuesday, August 14. In separate announcements, local oil firms announced they will increase the prices of diesel by PHP0.25 per liter, while unleaded gasoline by… Read More

Peso, PSEi dragged down by Turkey's financial woes

Peso, PSEi dragged down by Turkey's financial woes

August 13, 2018, 8:48 pm

MANILA -- The Philippine peso and the Philippine Stock Exchange index (PSEi) shed Monday as investors troop to safer grounds on jitters generated by the financial crisis in Turkey. The peso ended the week’s first trading day at 53.37 from 53.09 Friday last week. A trader said the US dollar… Read More

Gov't eyeing another ROP issuance before yearend

Gov't eyeing another ROP issuance before yearend

August 13, 2018, 8:45 pm

MANILA -- The Philippine government is considering the issuance of as much as USD1.5 billion-worth of US dollar-denominated bond possibly before end-2018. National Treasurer Rosalia De Leon on Monday said they have yet to submit documents about the planned issuance to the Monetary Board (MB), but… Read More

Lamudi sees boost in property demand in Cebu

Lamudi sees boost in property demand in Cebu

August 13, 2018, 7:00 pm

MANILA -- Lamudi, an online marketplace for properties, has reported strong demand in Cebu with its booming tourism industry and growing business operations. Lamudi Chief Executive Officer and Managing Director Bhavna Suresh said Monday developers are busy developing projects -- condominiums,… Read More

 FDI climb proves sustained investor confidence in PH

FDI climb proves sustained investor confidence in PH

August 13, 2018, 6:35 pm

MANILA -- The Philippines' robust economy continues to attract investors as evidenced by the growth in foreign direct investments (FDIs) and this trend is likely to continue, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said. In the first five months this year, FDIs grew 49… Read More

PH T-bill rates down after BSP rate hike

PH T-bill rates down after BSP rate hike

August 13, 2018, 6:02 pm

MANILA -- The rate of government-issued Treasury bills (T-bills) fell across the board Monday, which National Treasurer Rosalia De Leon quickly attributed to lesser uncertainties following another hike in central bank's key rates last week. On August 9, 2018, the Bangko Sentral ng Pilipinas’… Read More

PH still enjoys cushions from external shocks: Espenilla

PH still enjoys cushions from external shocks: Espenilla

August 13, 2018, 5:27 pm

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said the domestic economy's proven resiliency shelters it from the full brunt of external problems, such as Turkey's ongoing financial crisis.  In an interview Monday, the central bank chief said the country’s… Read More

PEZA okays expansion projects of Japanese firms

PEZA okays expansion projects of Japanese firms

August 13, 2018, 2:20 pm

MANILA -- The Philippine Economic Zone Authority (PEZA) has registered the expansion projects of two Japanese manufacturing firms in special economic zones in Laguna and Cavite, effectively giving them the go signal. PEZA announced Monday that its director general, Charito Plaza, awarded the… Read More

PH to stage 1st garments, leather goods expo

PH to stage 1st garments, leather goods expo

August 12, 2018, 2:37 pm

MANILA -- The country will be hosting the first Philippine Garment, Leather Goods Industries, and Fabrics Expo on Aug. 23-26 at the SMX Convention Center in Pasay City to showcase the opportunities in this sector in the domestic market. Trade Undersecretary and Board of Investment Managing… Read More

No need for SRP hike moratorium: DTI

No need for SRP hike moratorium: DTI

August 10, 2018, 8:59 pm

MANILA -- A moratorium on increasing suggested retail prices (SRPs) on basic goods may be unnecessary at this time despite rising inflation, the top trade official said. According to Trade and Industry Secretary Ramon Lopez, rising price pressures are not driven by manufactured goods, but by… Read More

Peso stays firm, local shares down on selling pressures

Peso stays firm, local shares down on selling pressures

August 10, 2018, 8:41 pm

MANILA -- The Philippine peso showed its resiliency Friday after ending little changed against the greenback but the Philippine Stock Exchange index (PSEi) succumbed to bearishness. The local unit finished the week’s trading at 53.135 against the US dollar from Thursday’s 53.09. Land Bank of… Read More

Economist says BSP rate hikes favor Peso

Economist says BSP rate hikes favor Peso

August 10, 2018, 7:34 pm

MANILA -- An economist of ING Bank Manila believes the additional hike in Bangko Sentral ng Pilipinas’ (BSP) key rates effective August 10, would help buoy the Peso and address the impact of its weakness on domestic inflation. On Thursday, the BSP’s policy-making Monetary Board (MB) hiked the… Read More

Fitch Solutions sees one more rate hike, cuts GDP growth forecast

Fitch Solutions sees one more rate hike, cuts GDP growth forecast

August 10, 2018, 6:35 pm

MANILA -- Citing sustained rise of inflation and credit growth, Fitch Solutions forecasts an additional 25 basis points increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates before yearend. In a research note, the Fitch Group unit contends that while the implementation of tax reforms… Read More

PCC gives nod to Grab-Uber deal

PCC gives nod to Grab-Uber deal

August 10, 2018, 6:30 pm

MANILA -- Philippine Competition Commission (PCC) Chairman Arsenio Balisacan announced Friday the antitrust body has given the green light to go ahead with the acquisition deal between transport network companies (TNCs) Grab and Uber. This is after the PCC has finally approved the voluntary… Read More

DTI chief: PH economy ‘still doing good’

DTI chief: PH economy ‘still doing good’

August 10, 2018, 6:27 pm

MANILA -- Despite the economy's slowdown as reflected by the modest 6 percent gross domestic product (GDP) growth posted in the second quarter this year, Trade and Industry Secretary Ramon Lopez believes the Philippines is "still doing good." Lopez told reporters that GDP growth in Q2 2018 took a… Read More