Business

Local shares sustain rise, Peso slides on overseas trade jitters

Local shares sustain rise, Peso slides on overseas trade jitters

July 26, 2018, 11:32 pm

MANILA -- The Philippines’ main equities index continued to rise Thursday as investors digest the International Monetary Fund’s (IMF) positive outlook on the domestic economy but the peso went the other way on trade concerns overseas.  The Philippine Stock Exchange index (PSEi) gained 2.02… Read More

DICT to create digital consumer welfare, protection body

DICT to create digital consumer welfare, protection body

July 26, 2018, 8:18 pm

MANILA -- The Department of Information and Communications Technology (DICT) has begun the process of establishing a body that will act on complaints and other concerns of consumers regarding telecommunication services. The department is proposing a Digital Consumer Welfare and Protection Body,… Read More

PH hopes to get at least 100 booths in China expo

PH hopes to get at least 100 booths in China expo

July 26, 2018, 8:15 pm

MANILA -- The country’s delegation to the China International Import Expo (CIIE) still aims to get at least 100 booths for the buying event in Shanghai in November. International Chamber of Commerce Philippines (ICCP) founder and Philippine Chamber of Commerce Industry (PCCI) chairman emeritus… Read More

Ongoing infra projects in ARMM continues even with BOL: NEDA

Ongoing infra projects in ARMM continues even with BOL: NEDA

July 26, 2018, 8:03 pm

MANILA -- Implementation of ongoing infrastructure projects in Autonomous Region in Muslim Mindanao (ARMM) will continue even with the Bangsamoro Organic Law's (BOL) enactment, the National Economic and Development Authority (NEDA) said on Thursday. “Those that are currently ongoing, especially… Read More

DOF cites need for innovation to revive fisheries sector

DOF cites need for innovation to revive fisheries sector

July 26, 2018, 7:09 pm

MANILA -- Innovative ways of aquafarming is needed to ensure adequate supply of fish for Filipino consumers and to prevent fish prices from exacerbating inflation. In an economic bulletin released Thursday, the Department of Finance (DOF) noted the dwindling fish production in the country.… Read More

CEZA issues second license for digital coin trading

CEZA issues second license for digital coin trading

July 26, 2018, 7:01 pm

MANILA -- The Cagayan Economic Zone Authority (CEZA) formally issued on Thursday the provisional license for cryptocurrency exchange operation to Liannet Technology Ltd. This was the second financial technology solutions and offshore virtual currency (FTSOVC) license issued by CEZA since it… Read More

Enough RRR cuts this year: Espenilla

Enough RRR cuts this year: Espenilla

July 26, 2018, 6:54 pm

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. says the 200 basis point cut in banks' reserve requirement ratio (RRR) is enough for the year. Espenilla made the pronouncement despite the forecasts of some analysts that said otherwise. The BSP’s policy-making… Read More

Foreign firms want to put up integrated resorts in Cagayan

Foreign firms want to put up integrated resorts in Cagayan

July 26, 2018, 5:52 pm

MANILA -- At least four foreign companies have expressed intention to develop integrated resorts in the province of Cagayan. Cagayan Economic Zone Authority (CEZA) Administrator and Chief Executive Officer Raul Lambino told reporters Thursday that his office received letters of intent from… Read More

Innovation, convenience boost e-payments in PH: survey

Innovation, convenience boost e-payments in PH: survey

July 26, 2018, 5:47 pm

MANILA -- The electronic payment mode continues to grow in popularity as more Filipinos experience the convenience and safety of using this method, a study revealed. Results of the Visa Consumer Payment Attitudes Study, an online survey done in July 2017 and participated in by 500 Filipinos with… Read More

Infrastructure investments remain key priority: ADB

Infrastructure investments remain key priority: ADB

July 26, 2018, 4:25 pm

MANILA -- The Asian Development Bank (ADB) has reaffirmed its commitment to continue supporting infrastructure development in Asia-Pacific countries, including the Philippines, which is deemed key for promoting economic growth and eliminating poverty. The multilateral development bank’s Board of… Read More

Code of Ethics for foreign exchange market eyed before yearend

Code of Ethics for foreign exchange market eyed before yearend

July 26, 2018, 3:36 pm

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. is optimistic that a code of conduct for the foreign exchange market in the country can be established by yearend to ensure fairness and integrity in trading. More central banks worldwide has implemented a similar move.… Read More

RCEP to boost PH trade, create jobs

RCEP to boost PH trade, create jobs

July 26, 2018, 2:54 pm

MANILA -- Philippine trade can receive a significant boost from the Regional Comprehensive Economic Partnership (RCEP) trade agreement, creating jobs for more Filipinos, said a ranking Department of Foreign Affairs (DFA) official. “That would mean more jobs because when you trade, you will open… Read More

SME participation in global value chains pushed

SME participation in global value chains pushed

July 26, 2018, 2:16 pm

MANILA -- Small and medium enterprises (SMEs) need to find new market niches and consider indirect exporting to enable them participate in the global value chains (GVCs), according to a study by the Philippine Institute for Development Studies (PIDS). A discussion paper titled “Obstacles and… Read More

Infra firm eyeing to become common tower provider

Infra firm eyeing to become common tower provider

July 26, 2018, 12:23 pm

MANILA -- An infrastructure firm is proposing to build 25,000 towers within seven years in line with a new policy of the Department of Information and Communications Technology (DICT) to establish common towers that may be leased by all telecommunication firms in order to expand their facilities… Read More

TDF posts mix results anew

TDF posts mix results anew

July 26, 2018, 8:48 am

MANILA -- Continued volatility in the domestic financial market ended in another round of mix results for the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) Wednesday. Data released by the central bank showed that the rate of both the seven-day and 14-day facilities went down… Read More

IMF sees sustained growth of PH amid risks

IMF sees sustained growth of PH amid risks

July 26, 2018, 6:34 am

MANILA -- The International Monetary Fund (IMF) remains positive about the sustainability of the Philippine economy's growth amid risks such as rising inflation after noting the monetary and fiscal measures put in place by authorities. In a briefing Wednesday, Luis E. Breuer, Mission head of the… Read More

Proposed one-year validity of budget won't lower gov't spending

Proposed one-year validity of budget won't lower gov't spending

July 26, 2018, 6:26 am

MANILA -- Budget and Management Secretary Benjamin Diokno is optimistic that state agencies are ready to implement projects even as allocation for the proposed PHP3.757 trillion 2019 national budget will only have a one-year validity. In the past, funds for a proposed project can be spent beyond… Read More

Peso, local shares rise on IMF's robust eco outlook on PH

Peso, local shares rise on IMF's robust eco outlook on PH

July 25, 2018, 11:35 pm

MANILA -- International Monetary Fund’s (IMF) positive outlook on the Philippine economy buoyed both the Philippine Stock Exchange index (PSEi) and the peso Wednesday. PSEi rose for the second day in a row, with the day’s uptick at 0.90 percent, or 66.98 points, to 7,514.00 points. A trader… Read More

Megaworld eyes P7-B sales from Fort Bonifacio residential tower

Megaworld eyes P7-B sales from Fort Bonifacio residential tower

July 25, 2018, 7:51 pm

MANILA -- Property developer Megaworld Corp. said that it expects to generate PHP7 billion in sales from the second tower of its residential condominium development in Fort Bonifacio. In a disclosure to the local bourse, Megaworld said it introduced to the market Wednesday the 25-storey… Read More

Security Bank, MUFG Bank host Business Matching Fair 2018

Security Bank, MUFG Bank host Business Matching Fair 2018

July 25, 2018, 7:37 pm

MANILA -- The partnership of Security Bank Corp. and Tokyo-based MUFG Bank, Ltd. successfully hosted a business networking affair for over 400 firms, which, stakeholders say can only strengthen existing ties between Filipino and Japanese enterprises. On Wednesday, Security Bank and MUFG hosted the… Read More