Business

4 cities outside NCR join PH’s most competitive

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

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

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

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

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

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

SSS seeks P2.24-M collection from delinquent Bacolod employers

SSS seeks P2.24-M collection from delinquent Bacolod employers

August 16, 2018, 3:12 pm

BACOLOD CITY -- The Social Security System (SSS) expects to collect P2.24 million in contribution delinquencies from 10 employers in this city following its sixth regional Run After Contributions Evaders (RACE) Campaign conducted Thursday, August 16. SSS President and Chief Executive Officer… Read More

Globe system upgrade may affect promos on Aug. 16-17

Globe system upgrade may affect promos on Aug. 16-17

August 15, 2018, 9:12 pm

MANILA -- Telco firm Globe Telecom advises its subscribers that it will be conducting upgrades on its system from 8 pm of August 16 to 6 am of August 17 which may prevent the registration to certain promos on its prepaid services. “During this time, you might have trouble registering to Globe… Read More

PSEi recovers, PHP holds on amid lingering Turkey jitters

PSEi recovers, PHP holds on amid lingering Turkey jitters

August 15, 2018, 8:41 pm

MANILA -- Bargain hunting allowed the Philippine Stock Exchange index (PSEi) to recover Wednesday and the peso managed to end sideways against the greenback even with risk-off sentiment remaining high still due to Turkey's financial meltdown. PSEi gained 0.18 percent, or 13.14 points, to 7,540.92… Read More

Dominguez bats for effective telco industry regulations

Dominguez bats for effective telco industry regulations

August 15, 2018, 8:29 pm

MANILA -- Finance Secretary Carlos Dominguez III said a strong regulatory environment over the telecommunications industry must first be established before government awards frequencies to a third telco player. “We have to go down to basic issues on the industry,” Dominguez said during the… Read More

TDF rates up across-the-board

TDF rates up across-the-board

August 15, 2018, 8:00 pm

MANILA -- The rates of all tenors of Term Deposit Facilities (TDFs) rose Wednesday following the recent hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates. Data released by the BSP Wednesday showed the rate of the seven-day facility rose by 4.1759 percent from last week’s 3.7797 percent.… Read More

PH keeping deficit-to-GDP ratio target to safeguard credit ratings

PH keeping deficit-to-GDP ratio target to safeguard credit ratings

August 15, 2018, 6:08 pm

MANILA -- Economic managers are keeping the government’s budget deficit level at 3.2 percent of the gross domestic product (GDP) for 2019, to safeguard the economy’s investment grade credit ratings amid threats of a re-enacted budget. Budget Secretary Benjamin Diokno, in his weekly Breakfast… Read More

DTI calls on small retailers to adopt SRPs voluntarily

DTI calls on small retailers to adopt SRPs voluntarily

August 15, 2018, 4:28 pm

MANILA -- The Department of Trade and Industry (DTI) has launched its Suking Tindahan Program, which aims to introduce the suggested retail price (SRP) system to sari-sari stores. On Wednesday, the DTI Consumer Protection Group (CPG) granted the seal of good housekeeping or the Suking Tindahan… Read More

Economy to grow faster in 2nd semester: Dominguez

Economy to grow faster in 2nd semester: Dominguez

August 15, 2018, 3:28 pm

MANILA -- The Department of Finance (DOF) remains optimistic that the economy will grow faster in the year's second half on the back of larger investment inflows and exports, higher infrastructure expenditures, and an improved revenue effort which posted a first-semester performance in 2018 that… Read More

Gov’t fast tracking transaction of permits for processed meat industry

Gov’t fast tracking transaction of permits for processed meat industry

August 15, 2018, 11:00 am

MANILA -- The Board of Investments (BOI) said Tuesday that the government has discussed with stakeholders in the processed meat industry the possible initiatives that would fast track the transaction of getting permits from public offices. “Our objective is to improve in terms of efficiency and… Read More

Stronger investments to boost economic growth: DOF exec

Stronger investments to boost economic growth: DOF exec

August 14, 2018, 8:23 pm

MANILA -- An official of the Department of Finance (DOF) said Monday he believes that the domestic economy could regain its footing after a growth slowdown in the second quarter of 2018 with the help of stronger investments, both by the public and private sectors. Finance Undersecretary Gil… Read More

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