Business

Proposed toll hikes have minimal impact on inflation

Proposed toll hikes have minimal impact on inflation

October 23, 2018, 6:58 pm

MANILA -- Tollways operator Metro Pacific Tollways Corporation (MPTC) on Tuesday assured that its proposed toll increases will only cause minimal impact on the country's inflation rate. “Any adjustments will have impact but we have implemented measures that will mitigate or lessen the impact… Read More

BTr reject bids for 7-yr T-bonds

BTr reject bids for 7-yr T-bonds

October 23, 2018, 5:00 pm

MANILA -- The Bureau of the Treasury’s (BTr) auction committee on Tuesday rejected all bids for the seven-year Treasury bond (T-bond) despite the high demand after investors asked for yields that were deemed too high. Had the auction committee made a full award of PHP15 billion, rate of the debt… Read More

Sales of imported vehicles down by 13% Jan.-Sept. 2018

Sales of imported vehicles down by 13% Jan.-Sept. 2018

October 23, 2018, 4:33 pm

MANILA – The Association of Vehicle Importers and Distributors (AVID) reported that sales of its declined by 13 percent to 65,917 units in January-September this year from 75,949 units sold during the same period in 2017. “AVID sales hit 65,917 units sold in the first nine months of the year… Read More

PH, US resolve trade issues, eye stronger economic ties

PH, US resolve trade issues, eye stronger economic ties

October 23, 2018, 3:40 pm

MANILA -- The Philippine and United States governments jointly announced that huge strides have been made towards resolving bilateral trade issues under the Trade and Investment Framework Agreement (TIFA), saying that both parties are committed to enhance economic ties. This was contained in a… Read More

Robust gov’t spending to drive H2 growth: economist

Robust gov’t spending to drive H2 growth: economist

October 23, 2018, 3:38 pm

MANILA -- An economist of ING Bank Manila remains optimistic that the Philippine economy will continue to expand in the second half of 2018, largely driven by robust government spending. Citing data released by the Bureau of the Treasury (BTr) Monday, ING Bank Manila senior economist Nicholas… Read More

Ease of doing business IRR submitted to PRRD

Ease of doing business IRR submitted to PRRD

October 23, 2018, 2:38 pm

MANILA -- The Department of Trade and Industry (DTI) has submitted the implementing rules and regulations (IRR) of Ease of Doing Business and Efficient Government Service Delivery Act of 2018 or the EODB law to President Rodrigo Duterte on Monday. “Official issuance [of the IRR is] once the… Read More

Firms get original proponent status for Davao, Kalibo airports

Firms get original proponent status for Davao, Kalibo airports

October 23, 2018, 2:31 pm

MANILA -- The Department of Transportation (DOTr) announced on Tuesday that it granted the original proponent status (OPS) on the proposals to expand, operate and manage the Davao and Kalibo International Airports. This as the board of the Civil Aviation Authority of the Philippines (CAAP), headed… Read More

Landbank lowers offer for PDSHC stake

Landbank lowers offer for PDSHC stake

October 22, 2018, 9:02 pm

MANILA — The management of Land Bank of the Philippines (Landbank) has reduced its offer to buy majority stake in the Philippine Dealing System Holdings Corp. (PDSHC) from PHP360 apiece to PHP215 after the latter registered lower net asset value. In an interview with journalists Monday, Landbank… Read More

Gov’t reforms making PH more competitive: DTI

Gov’t reforms making PH more competitive: DTI

October 22, 2018, 9:00 pm

MANILA — The government's continued effort to improve the business environment in order to make the Philippines a more competitive investment destination has been bearing fruit, the Department of Trade and Industry (DTI) said. In a statement, Trade Secretary Ramon Lopez welcomes the country’s… Read More

Local markets off to a good start this week

Local markets off to a good start this week

October 22, 2018, 7:59 pm

MANILA -- Risk-on sentiments prevailed in local markets at the start of the trading week, lifting the Philippine Stock Exchange index (PSEi) and helping the peso keep its ground amid an invigorated US dollar. The main equities gauge rose 1.18 percent, or 84.64 points, to 7,236.16 points, which… Read More

Grab to lower surge rates for holiday season

Grab to lower surge rates for holiday season

October 22, 2018, 7:52 pm

MANILA -- Ridesharing firm Grab Philippines is set to lower the surge rate on its fares amid increasing demand for ride among its passengers for the holidays, a company official said Monday. “If you see that prices are always surging due to lack of supply and higher demand, that surge cap would… Read More

BTr fully awards T-bills as rates correct

BTr fully awards T-bills as rates correct

October 22, 2018, 7:10 pm

MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday but Deputy Treasurer Erwin Sta. Ana said the upticks are within their expectations, thus, the full award for all tenors. The average rate of the bellwether 91-day securities rose to 4.952 percent from 4.404… Read More

P7.8-B first eco-airport to be inaugurated by November: CAAP

P7.8-B first eco-airport to be inaugurated by November: CAAP

October 22, 2018, 7:10 pm

MANILA – The Panglao International Airport being constructed on Panglao Island in Bohol will be inaugurated by November, Civil Aviation Authority of the Philippines (CAAP) spokesperson Eric Apolonio told the Philippine News Agency (PNA) on Monday. The PHP7.8-billion project, also known as the… Read More

Gov’t won't lose from oil excise tax suspension: consumer group

Gov’t won't lose from oil excise tax suspension: consumer group

October 22, 2018, 6:22 pm

MANILA – Consumer group Laban Konsyumer Inc. (LKI) said government does not stand to lose should the second installment of the oil excise tax increase be put on hold. In a statement, LKI President Victorio Mario Dimagiba said the government will still be able to get good revenues from petroleum… Read More

ITBPO firms giving PEZA a second look

ITBPO firms giving PEZA a second look

October 22, 2018, 4:30 pm

MANILA -- The information technology and business process outsourcing (ITBPO) sector is showing renewed interest in the Philippine Economic Zone Authority (PEZA) as evidenced by a rebound in investment pledges since August, its director general Charito Plaza said Monday. In a media briefing, she… Read More

MARINA allows Negros Navigation to operate VisMin routes for Undas

MARINA allows Negros Navigation to operate VisMin routes for Undas

October 22, 2018, 11:14 am

MANILA -- The Maritime Industry Authority (MARINA) has granted a permit to Negros Navigation Company Inc. to operate along various routes in the Visayas and Mindanao to address passenger demand for the All Saints and All Souls Day break. Negros Navigation, a holding company of 2GO Group Inc., will… Read More

PEZA chief open to hike in GIE perk under TRABAHO bill

PEZA chief open to hike in GIE perk under TRABAHO bill

October 21, 2018, 1:08 pm

MANILA — Philippine Economic Zone Authority (PEZA) Director General Charito Plaza on Thursday reiterated her call to legislators not to scrap the gross income earned (GIE) incentive under the Tax Reform for Attracting Better and High-Quality Opportunities or TRABAHO bill, but the agency is… Read More

Big time gasoline price rollback Monday

Big time gasoline price rollback Monday

October 20, 2018, 9:54 pm

MANILA — Pump prices are set to go down for the second week in a row, but this time private motorists will be the big winners owing to a big drop in the price of unleaded gasoline effective 6 a.m., Monday (Oct. 22). At least one oil firm disclosed as early as Saturday afternoon that gasoline… Read More

BPI ATMs glitch solved early Saturday: BSP exec

BPI ATMs glitch solved early Saturday: BSP exec

October 20, 2018, 8:35 pm

MANILA - - A ranking official of the Bangko Sentral ng Pilipinas (BSP) said the problem about the automated teller machines (ATMs) of the Ayala-led Bank of the Philippine Island (BPI) has been resolved early Saturday. On Friday night, some BPI clients took to social media to complain about not… Read More

VAT collections to soften brunt of oil excise tax hike suspension

VAT collections to soften brunt of oil excise tax hike suspension

October 19, 2018, 8:45 pm

MANILA — Value added tax (VAT) collections from petroleum products are expected to partially compensate for lost government revenues arising from a suspension of the oil excise tax hike scheduled for 2019. Finance Undersecretary Gil Beltran told reporters Friday that although the government is… Read More