Business

PH can minimize well-being losses from calamities by 22%

PH can minimize well-being losses from calamities by 22%

June 20, 2018, 3:36 pm

MANILA -- The Philippines can reduce the average well-being loss due to natural disasters by 22 percent if it is able to speed up recovery from five years to one, a joint study by the World Bank (WB) and the Global Facility for Disaster Reduction and Recovery (GFDRR) revealed. The WB-GFDRR report… Read More

DA holds investment forum on cashew and cacao in Palawan

DA holds investment forum on cashew and cacao in Palawan

June 19, 2018, 10:01 pm

PUERTO PRINCESA CITY, Palawan – The regional field office of the Department of Agriculture (DA) conducted here Tuesday an investment forum on current market trends in the production of cacao and cashew, hoping to expand and develop their production in Palawan. Randy Pernia, senior agriculturist… Read More

BOP deficit surges in May

BOP deficit surges in May

June 19, 2018, 9:50 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) reported Tuesday that the country's balance of payments (BOP) position this May posted a deficit of USD583 million, a surge relative to the USD59-million deficit in May 2017. The BSP said dollar outflows last month were mainly due to the foreign… Read More

BSP assures PH financial stability amid local, global risks

BSP assures PH financial stability amid local, global risks

June 19, 2018, 9:29 pm

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. has assured Japanese investors that the Philippines remains financially stable amid risks in domestic and global markets. In his presentation during the Philippine Economic Briefing in Tokyo on Tuesday, Espenilla said the… Read More

RCBC ties up with Osaka, Kobe banks to lure Japanese SMEs

RCBC ties up with Osaka, Kobe banks to lure Japanese SMEs

June 19, 2018, 9:25 pm

MANILA -- A budding partnership between the Rizal Commercial Banking Corp. (RCBC) and two banks under Resona Holdings, Inc. in Japan aims to bring more Japanese small and medium enterprises (SMEs) to the Philippines. In a statement Tuesday, RCBC said Japan’s growing interest in investment… Read More

NEDA seeks solution to LGU land conflict, passage of Land Use Law

NEDA seeks solution to LGU land conflict, passage of Land Use Law

June 19, 2018, 8:59 pm

MANILA -- The NEDA Board’s National Land Use Committee (NB-NLUC) pushed for the immediate resolution of boundary conflicts among local government units (LGUs) and reiterated its call for the passage of the proposed National Land Use Act (NaLUA). During the 10th meeting of the NB-NLUC early this… Read More

CLI, Ascott to build serviced residence in Bacolod

CLI, Ascott to build serviced residence in Bacolod

June 19, 2018, 8:20 pm

MANILA -- Property developer Cebu Landmasters Inc. (CLI) on Tuesday signed a management deal with The Ascott Limited to develop the first hotel in Bacolod City carrying an international brand, as it banks on the growth of the tourism industry. The 200-room Citadines Bacolod serviced residence is… Read More

PH among best economic performers in region: Pernia

PH among best economic performers in region: Pernia

June 19, 2018, 7:17 pm

MANILA -- Socioeconomic Planning Secretary Ernesto Pernia on Tuesday told the Japanese business community and other stakeholders that the Philippines remains one of the best performing economies in the region. “National and international observers have remarked that the Philippine economy has… Read More

Vista Land taps top global software data manager BackOffice Associates

Vista Land taps top global software data manager BackOffice Associates

June 19, 2018, 5:23 pm

MANILA -- Global software firm BackOffice Associates has clinched a major deal with Vista Land, one of the leading integrated property developers in the country. Vista Land has tapped BackOffice Associates, a worldwide leader in information governance and stewardship solutions, to govern its… Read More

Grab gives fare subsidies to TNVS drivers

Grab gives fare subsidies to TNVS drivers

June 19, 2018, 5:20 pm

MANILA -- Ridesharing firm Grab Philippines has rolled out its subsidies to drivers Monday to help them mitigate the impact of the suspension of the PHP2-per-minute travel charge by the Land Transportation Franchising and Regulatory Board (LTFRB). This as Grab said that the earnings of its drivers… Read More

PH gov’t woos Japanese investors

PH gov’t woos Japanese investors

June 19, 2018, 4:52 pm

MANILA – The Duterte administration's top economic managers are vigorously courting Japanese businessmen to take part in the country's massive infrastructure push as well as in its vibrant manufacturing sector amid an economy that is growing by leaps and bounds. In his speech during the… Read More

Building materials inflation in NCR remains at 2.6%

Building materials inflation in NCR remains at 2.6%

June 19, 2018, 4:41 pm

MANILA -- The increase in retail prices of construction materials in Metro Manila remained at 2.6 percent in May 2018, the Philippine Statistics Authority (PSA) reported on Tuesday. The PSA stated that the construction materials retail price index (CMRPI) in the National Capital Region (NCR)… Read More

PH mulls issuance of USD1-B 'Samurai' bond this year: Dominguez

PH mulls issuance of USD1-B 'Samurai' bond this year: Dominguez

June 19, 2018, 3:31 pm

TOKYO -- Finance Secretary Carlos Dominguez III confirmed here Tuesday that the Philippines is planning to issue about USD1 billion-worth of “Samurai” bonds this year following its two successful floats of dollar- and renminbi-denominated securities in the offshore markets in the first quarter… Read More

Romblon rural bank ex-chair convicted for faking deposits

Romblon rural bank ex-chair convicted for faking deposits

June 19, 2018, 3:24 pm

MANILA -- Angeles R. Robis, former Chairman of the Board of Directors and President of the closed Rural Bank of Cajidiocan (Romblon), Inc. (RBCI), was found guilty beyond reasonable doubt on three counts of Violation of Section 26 of Republic Act No. 7353 (The Rural Banks Act of 1992) in a… Read More

NEDA: PH must reap labor gains from 'Build, Build, Build'

NEDA: PH must reap labor gains from 'Build, Build, Build'

June 18, 2018, 8:08 pm

MANILA -- With the expected effect of the government’s unprecedented “Build, Build, Build” program on the country’s labor demand, the government must ensure that laborers’ skills and competencies match industry needs, the National Economic and Development Authority (NEDA) said. “To… Read More

MPIC logistics unit to spend P8-B on warehouse space, equipment

MPIC logistics unit to spend P8-B on warehouse space, equipment

June 18, 2018, 8:05 pm

MANILA -- Logistics firm Metropac Movers Inc. (MMI) will spend over PHP8 billion to develop a property it is acquiring in General Trias, Cavite into a massive warehousing facility in a bid to enhance efficiency in transportation of goods in the country. The wholly-owned subsidiary of… Read More

Wilcon Depot ramps up expansion with P4.6-B investment

Wilcon Depot ramps up expansion with P4.6-B investment

June 18, 2018, 8:03 pm

MANILA -- Home improvement and construction supply retailer Wilcon Depot Inc. is investing PHP4.6 billion over the next three years to ramp up the expansion of its network across the country in support of its continued growth amid a robust economy and government’s infrastructure push. Wilcon… Read More

Prices of petroleum products to go up Tuesday

Prices of petroleum products to go up Tuesday

June 18, 2018, 7:24 pm

MANILA -- After two consecutive rollbacks, local oil firms announced that pump prices will be going the opposite direction on Tuesday, June 19. The managements of Petron Corporation, Pilipinas Shell, Jetti Petroleum Inc., Flying V, TOTAL, Seaoil, Phoenix Petroleum and PTT Philippines said that a… Read More

Expert urges enhanced transparency in investments

Expert urges enhanced transparency in investments

June 18, 2018, 7:17 pm

MANILA -- There is a need to improve the information content of the country's foreign investment negative list (FINL) in order to provide potential investors with a clearer perspective of the local business climate, which in-turn, is expected to attract foreign direct investment (FDI), a… Read More

Peso, local stocks plummet anew

Peso, local stocks plummet anew

June 18, 2018, 6:12 pm

MANILA – The Philippine peso extended its decline for the sixth consecutive trading day, while the local bourse continued its losing streak as it fell back to the 7,400-zone on Monday. The local unit dropped to 53.48, losing 21 centavos from its previous finish of 53.27. This was the lowest… Read More