Business
BOC discovers another illegal cigarette factory in Nueva Ecija
August 20, 2018, 3:14 pm
MANILA -- The Philippine government scored another victory against the counterfeit cigarette industry after the discovery of an illegal manufacturing facility in Gapan, Nueva Ecija, leading to the arrest of 16 Chinese nationals. In a report to Finance Secretary Carlos Dominguez III, Customs… Read More
PH officials Beijing-bound to discuss China-supported infra projects
August 20, 2018, 1:58 pm
MANILA -- Philippine and Chinese officials are set to meet in Beijing this week to continue discussions concerning the Duterte administration’s “Build, Build, Build” infrastructure projects that China has committed to support through Official Development Assistance (ODA) loans and grants.… Read More
Tariff reduction may not ease inflation
August 19, 2018, 3:13 pm
MANILA -- Trade Secretary Ramon Lopez admitted that reducing tariff rates on some imported products may not help in easing price pressures. Lopez said the meeting last week of the Committee on Tariff and Related Matters (CTRM) has concluded that most of the agricultural products imported by the… Read More
GOCC remittances fueling infra, social services spending
August 17, 2018, 9:49 pm
MANILA -- Finance Secretary Carlos Dominguez III said in a statement on Friday that record remittances from 54 government-owned and -controlled corporations (GOCCs) will go a long way in helping the Duterte administration hold down deficits and sustain its aggressive spending on infrastructure and… Read More
Rizal, Laguna, Davao del Norte lead most competitive provinces list
August 17, 2018, 9:37 pm
MANILA -- Rizal province was named the country's most competetive province for a third year in a row during the 6th Regional Competitiveness Summit held at the Philippine International Convention Center (PICC), Pasay City on Thursday. Laguna and Davao del Norte took the second and third spots… Read More
APEC economies make headway on regional structural reform: review
August 17, 2018, 9:34 pm
SYDNEY -- Asia-Pacific Economic Cooperation- (APEC) member economies continue to make progress in implementing structural reforms across the region, a review released on Friday concluded. A mid-term review was conducted by the APEC Policy Support unit to assess the structural reforms being… Read More
Renewed US-China talks sow confidence in local markets
August 17, 2018, 7:57 pm
MANILA -- Risk-on sentiment returned to Asia Friday, fuelling the recovery of the Philippine Stock Exchange index (PSEi) and sustained the firmness of the Peso as the trading week came to a close. The PSEi rose by 0.88 percent, or 66.16 points, to 7,583.52 points, which a trader pointed to news… Read More
CCAP, NPC bolster partnership for data privacy awareness
August 17, 2018, 7:51 pm
MANILA -- The Contact Center Association of the Philippines (CCAP) and National Privacy Commission (NPC) are poised to bolster their partnership to increase Filipinos' level of awareness of data privacy and security. The CCAP will host the Data Privacy Asia 2018 in Makati City on Sept. 19-20,… Read More
BSP: Study carefully economic provisions of proposed federalism
August 17, 2018, 7:20 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. supported calls for a more comprehensive study of the proposed federal constitution to ensure that recent economic gains are sustained, should the shift in the form of government happen. In a forum Friday, the BSP chief… Read More
PH yet to tap EU financing for ‘Build, Build, Build’ program
August 17, 2018, 6:46 pm
MANILA -- The Philippine government has yet to tap development assistance from the European Union (EU) as another source of financing for its massive infrastructure program ‘Build, Build, Build’, the EU envoy said Friday. “It’s not something that the government approached us,” EU… Read More
Security Bank NAIA branches open on Aug. 21
August 17, 2018, 3:47 pm
MANILA -- Branches of Security Bank Corporation (Security Bank) at the Ninoy Aquino International Airport (NAIA) will be open during the national holiday on August 21 this year. Malacanang has declared Tuesday next week a special non-working holiday to commemorate the Ninoy Aquino Day at the same… Read More
CIAP certifies 40 construction supervisors, superintendents
August 16, 2018, 8:12 pm
MANILA -- The Construction Industry Authority of the Philippines (CIAP), an attached agency of the Department of Trade and Industry (DTI), has certified 40 supervisors and superintendents in its pilot training program. Through CIAP’s human resource development arm Construction Manpower… Read More
Diokno denies compromise reached on cash-based budgeting
August 16, 2018, 7:58 pm
MANILA -- Budget Secretary Benjamin Diokno on Thursday denied that a compromise between lawmakers and the Department of Budget and Management (DBM) regarding the cash-based budget implementation in 2019 has been reached. On the sidelines of a hearing at the Senate, Diokno said he has no idea what… Read More
Peso remains firm but local shares slip anew
August 16, 2018, 7:45 pm
MANILA -- Fears of a contagion from the Turkish financial crisis persisted Thursday, erasing the gains of the Philippines Stock Exchange index (PSEi). The Peso, however, hardly budged, finishing the day at 53.44 from 53.47 Wednesday, which a trader said was helped by the improvement of the Chinese… Read More
4 cities outside NCR join PH’s most competitive
August 16, 2018, 7:40 pm
MANILA -- The cities of Davao, Cagayan de Oro, Bacolod, and Cebu are among the 10 most competitive highly-urbanized cities in the Philippines today, according to an annual survey. The Cities and Municipalities Index (CMCI) 2018 showed that the number of cities outside Metro Manila to attain this… Read More
Impact of lowering tariff on food hard to quantify: Guinigundo
August 16, 2018, 6:57 pm
MANILA -- A central bank official on Thursday said it is difficult to determine at this time how lowering the tariff on some food items would impact inflation. The possible lowering of tariffs imposed on select food items, which is now between 10 percent and 40 percent, was raised during the… Read More
Albay solon warns vs. perils of reenacted budget
August 16, 2018, 6:53 pm
LEGAZPI CITY -- A reenacted budget for next year would be a virtual certainty, unless lawmakers and the Duterte administration’s economic team could agree on a common budgetary system for the 2019 National Expenditure Program (NEP), Albay Rep. Joey Salceda said Thursday. Budget Secretary… Read More
Foreign portfolio investments post net inflow in July: BSP
August 16, 2018, 5:58 pm
MANILA -- Registered foreign portfolio investments for the month of July 2018 amounted to USD959 million, reflecting a 5.3 percent improvement from the USD911 million figure in June 2018. Year-on-year, however, a 33.1 percent decline may be noted from the USD1.4 billion level recorded during the… Read More
DTI on federalism: Any form of gov’t can work
August 16, 2018, 5:54 pm
MANILA -- The country’s top trade official believes that any system of government can work for the Philippines as long as it is functional and efficient. On the sidelines of the 6th Regional Competitiveness Summit Thursday, Trade and Industry Secretary Ramon Lopez said he is leaving the… Read More
DTI launches Project One
August 16, 2018, 3:53 pm
MANILA -- The Department of Trade and Industry (DTI) announced that it is in the process of developing an online portal that will provide information about doing business in cities and municipalities around the country. During the 6th Regional Competitiveness Summit in Pasay City Thursday, DTI… Read More
