Consumer acceptance needed for digital payment system: MVP

MANILA -- Businessman Manuel V. Pangilinan said acceptance by consumers, not just having the necessary infrastructure, is needed for digital payment systems to be successful. “Part of the challenge of the ASEAN (Association of Southeast Asian Nations) as a community and within each country is... Read More

Quality education key to advancing ASEAN digital economy

MANILA -- Association of Southeast Asian Nations (ASEAN) member states need to improve the quality of their education systems and training in order to adapt to and benefit from the digital economy for an integrated region, business leaders said.Jaime Augusto Zobel de Ayala, Chairman and Chief... Read More

Robredo calls for implementation of inclusive growth pacts

MANILA -- It is now everyone’s job to fully push inclusivity, otherwise people will continue to rise up because of inequality.This, according to Vice President Maria Leonor Robredo in her speech during the closing of the three-day ASEAN Business and Investment Summit 2017 held at Solaire... Read More

D&L profit up 10%

MANILA -- Listed food and plastics manufacturer D&L Industries Inc. reported a 10-percent increase in profit in the first nine months of 2017, driven by the aerosol business and food ingredient exports.D&L told the local bourse its recurring net income reached PHP2.12 billion from PHP1.93... Read More

Women roles cited in ASEAN’s rising economic importance

MANILA -- While women empowerment continues to encourage more people towards pushing equality for women, there remains a gap that needs to be addressed.For one, a study by the International Labor Organization (ILO) shows that drop in gender gaps in the labor force as well as employment rates is so... Read More

Peso strengthens anew; PSEi recovers

MANILA — The Philippine peso inched up against the US dollar on Tuesday as the Philippine Stock Exchange index (PSEi) recovered from a slump at the start of the week. The local currency finished the day at 51.18 from 51.205 a day ago, which a trader said was a positive turnout amid... Read More

Arroyo pushes for investment in agri dev’t

MANILA -- Former President Gloria Macapagal-Arroyo on Tuesday underscored the need for the Philippines to invest in infrastructure, particularly for agriculture development, to fully realize the benefits of Association of Southeast Asian Nations (ASEAN) economic integration.During the close of the... Read More

PH seen to remain fastest-growing economy in ASEAN-5

MANILA --The Philippines is expected to remain the fastest growing economy in the Association of Southeast Asian Nations-5 (ASEAN) this year through 2022, supported by the government’s infrastructure push and robust domestic private spending.

The Organization for Economic Cooperation and... Read More

Peso stays firm, PSEi down on profit-taking

MANILA - - The Philippine peso continued to remain firm against the US dollar Monday but the Philippine Stock Exchange index (PSEi) slipped anew due to profit-taking.The local currency finished the day at 51.205 from 51.245 Friday last week. For the day, the peso opened the day flat at 51.30.It... Read More

DBS Bank sees 6.5% GDP growth for PH in Q3

MANILA -- An economist of DBS Bank Ltd. forecasts a 6.5 percent output for the Philippine economy in the third quarter of 2017, the same as the previous quarter’s performance.In a research note Monday, DBS Bank Group Research economist Gundy Cahyadi said upside risks on gross domestic product... Read More

DMCI books P3.5-B construction deal

MANILA -- Construction firm D.M. Consunji, Inc. (DMCI) has signed construction contracts worth PHP3.5-billion in the third quarter of 2017, including the rehabilitation of La Mesa Water Treatment Plant 2 in Quezon City operated by DMCI subsidiary Maynilad Water Services Inc.DMCI told the local... Read More

PH Q3 GDP growth seen at 6.5%

MANILA -- The Philippines’ gross domestic product (GDP) is expected to grow 6.5 percent in the third quarter of 2017, IHS Markit Chief Economist for Asia Pacific Rajiv Biswas said Monday.The GDP outlook for Q3 2017 is the same with the actual growth rate in second quarter of the... Read More

Gasoline, diesel, kerosene prices up

MANILA-- Due to movements in the international petroleum market, oil companies on Monday announced a round of fuel pump price increases effective Tuesday, Nov. 14.Shell Pilipinas, Petron, SEAOIL, PTT Philippines, and Flying V announced that gasoline prices will go up by as much as 95-centavos per... Read More

Intra-ASEAN investments remain high: report

MANILA -- Association of Southeast Asian Nations (ASEAN) companies and dialogue partners European Union (EU) and India continue pouring investments in the region, pushing intra-regional investment to a record level.The ASEAN Investment Report 2017 attributed the rise in intraregional investment to... Read More

ASEAN needs USD60-B yearly for infrastructure: ADB

MANILA – The Association of Southeast Asian Nations (ASEAN) needs to undertake efforts to establish macroeconomic and political stability to meet an estimated USD60 billion a year to address the region’s infrastructure needs, a senior official of the Asian Development Bank (ADB) said... Read More

Trump welcomes possible PH-US free trade deal -- DTI chief

MANILA -- US President Donald Trump has welcomed the suggestion of the Philippine government to have a free trade agreement (FTA) between the Philippines and the US, Department of Trade and Industry (DTI) Secretary Ramon Lopez told reporters.In a text message, Lopez said the Philippines was able to... Read More

BSP to raise rates on rising inflation pressures: studies

MANILA -- Sustained increase of rate of price increases will likely result to upward adjustments in the Bangko Sentral ng Pilipinas’ (BSP) key rates, studies said.Last October, inflation rose to 3.5 percent from the previous month’s 3.4 percent, bringing the 10-month average to 3.2... Read More

AUB reports 19.3% consolidated net income in end-Q3 '17

MANILA -- Publicly listed Asia United Bank (AUB) reported a 19.3 percent growth in unaudited consolidated net income as of end-September 2017 to PHP2.2 billion.In a disclosure with the Philippine Stock Exchange (PSE) Monday, the bank said its latest net earnings is better the PHP1.8 billion it... Read More

More PH MSMEs to benefit from ASEAN mentorship program

MANILA -- Startup and expanding micro, small and medium enterprises (MSMEs) are expected to get a boost from new mentorship program of the Philippines and other members of the Association of Southeast Asian Nations (ASEAN) meant to help ensure their businesses become successful.President Rodrigo... Read More

Concepcion urges big bizmen to help peers

MANILA -- The chair of the ASEAN Business Advisory Council (ABAC) urged businessmen to help other players, who are in need, in line with the Council’s flagship program called ASEAN Mentorship for Entrepreneurs Network (AMEN).In his opening message for the three-day Summit that started Sunday,... Read More