Business
Auto sales down by 8.5% in Q1 2018
April 12 2018, 5:25 pm
MANILA -- Motor vehicle sales declined by 8.5 percent in the first quarter of 2018 with only 86,037 units sold from 94,026 units during the same period last year according to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association… Read More
Explain P2 per minute charge LTFRB tells Grab
April 12 2018, 5:21 pm
MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has ordered dominant ride sharing firm Grab Philippines to explain the extra PHP2 per minute it charges passengers. The LTFRB has issued a show cause order dated April 11 demanding that MY TAXI.PH INC, the registered owner… Read More
3 transport agencies to remit P11-B in dividends
April 12 2018, 4:18 pm
MANILA -- Three attached agencies of the Department of Transportation (DOTr) will remit a total of PHP11 billion in dividends for 2017 to the National Treasury Friday. The Manila International Airport Authority (MIAA), Civil Aviation Authority of the Philippines (CAAP), and the Philippine Ports… Read More
Ecozones infuse over P3-T as of 2015: PEZA
April 12 2018, 2:44 pm
MANILA -- Philippine Economic Zone Authority (PEZA) director general Charito Plaza revealed that industries within the economic zones together with the investment promotion agency (IPA), have contributed some PHP3.32 trilllion to the national economy as of 2015. This was the sum of her report to… Read More
Ortigas & Co. breaks ground on P6.3-B Greenhills mall
April 11 2018, 8:58 pm
MANILA -- Property developer Ortigas & Company on Wednesday broke ground on a PHP6.3-billion integrated regional mall in San Juan City, as it ramps up the first phase of its PHP60-billion Greenhills redevelopment project.The company said the new mall located at old Unimart is the second… Read More
ADB economist says PH trade deficit a sign of growing domestic demand
April 11 2018, 8:40 pm
MANILA -- An economist from the Asian Development Bank (ADB) on Wednesday said the Philippines' trade deficit was not alarming but an indicator of growing domestic demand. “The country is running a trade deficit and it is not alarming. It is not a sign of over consumption, it is not a sign… Read More
Grab defends fare structure amid accusations of overcharging
April 11 2018, 8:08 pm
MANILA -- Dominant ridesharing firm Grab Philippines has justified its fare structure following a legislator's call for it to refund at least PHP 1.8 billion in alleged illegal charges. Grab said its PHP 2 per minute charge was in accordance with the order of the then Department of Transportation… Read More
BTr partially awards 7-yr T-bond after banks ask for high yield
April 11 2018, 7:31 pm
MANILA -- The Bureau of the Treasury’s (BTr) auction committee made a partial award for the fresh issuance of seven-day Treasury bonds (T-bond) Wednesday in response to banks' requests for high yield.BTr offered the debt paper for Php10 billion but tenders were more than two-fold at Php20.668… Read More
LTFRB orders Grab to lower surge prices
April 11 2018, 6:57 pm
MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) on Wednesday ordered Grab Philippines to reduce its surge pricing cap from 2 to 1.5 times the normal fare immediately as it processes the applications of new transportation network companies (TNCs). The Board wants to… Read More
Improved Manila-Beijing ties lure more Chinese investors
April 11 2018, 5:53 pm
MANILA -- Trade and Industry Secretary Ramon Lopez said the much improved bilateral relation between the Philippines and China has attracted more Chinese investors into the country.In a statement Wednesday, Lopez said the Department of Trade and Industry (DTI) welcomes the Letters of Intent (LOIs)… Read More
TDF rates go different directions
April 11 2018, 5:50 pm
MANILA -- The rate of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) registered mix results Wednesday.Data released by the central bank showed that rate of the seven-day and 14-day facilities rose to 3.3018 percent and 3.4053 percent, respectively.Last week, the rate of the… Read More
Infra investment to boost PH GDP growth in 2018-19: ADB
April 11 2018, 5:47 pm
MANILA -- The Asian Development Bank (ADB) expects the Philippines to remain one of Southeast Asia’s fastest-growing economies in the next two years on the back of strong domestic demand and government’s rollout of more infrastructure projects. In its latest Asian Development Outlook (ADO)… Read More
ING economist ups GDP growth forecasts for PH
April 11 2018, 5:43 pm
MANILA -- An economist of ING Bank Manila revised his growth projection upwards for the Philippine economy both for the first quarter of 2018 and the full year on back of robust increase in government spending to date.In a research note, ING Bank senior economist Joey Cuyegkeng modestly upped… Read More
Electronics exports up 10% in Jan-Feb
April 11 2018, 5:40 pm
MANILA -- The country’s electronics export revenues for the first two months of the year increased by 10.1 percent from the same period in 2017, the Philippine Statistics Authority (PSA) reported Wednesday.The export of electronic goods amounted to USD5.33 billion in January to February 2018… Read More
Budget chief eyes 7% Q1 GDP growth
April 11 2018, 3:16 pm
MANILA -- Budget and Management Secretary Benjamin Diokno is optimistic for a seven percent growth of the Philippine economy in the first quarter of 2018, which falls within the lower end of government’s seven to eight percent 2018-2022 growth target.“We plan to grow at around seven to… Read More
New mutual fund capitalizes on consumption growth
April 11 2018, 2:05 pm
MANILA -- First Metro Asset Management, Inc. (FAMI), a unit of First Metro Investment Corp. (FMIC), launched on Wednesday its newest mutual fund that is capitalizing on the country’s strong private consumption growth.The First Metro Consumer Fund is invested on 21 constituent stocks of the First… Read More
IMF warns of risks in synchronized increases in global house prices
April 11 2018, 11:57 am
WASHINGTON -- The International Monetary Fund (IMF) on Tuesday warned that synchronized increases in house prices around the world would heighten the risks of economic slowdown. The latest IMF study found that house prices move in tandem across countries and major global cities, a further sign of… Read More
Philexport confident that FVR testimony will clarify land issue
April 10 2018, 8:59 pm
MANILA -- The Philippine Exporters Confederation, Inc. (Philexport), the umbrella organization of local exporters, is confident that the testimony of former President Fidel Ramos in the House of Representatives will once and for all put an end to issues raised against the group’s PHP1,000 annual… Read More
Report on 26 closed, suspended mines out soon
April 10 2018, 8:57 pm
MANILA -- Experts tapped by the inter-agency Mining Industry Coordinating Council (MICC) are scheduled to conclude their review on 26 mining firms earlier ordered closed or suspended during the second half of this month.Finance Undersecretary Bayani Agabin, in a briefing Tuesday, said five teams… Read More
Peso keeps strength, PSEi slides
April 10 2018, 6:51 pm
MANILA -- The Philippine peso ended Tuesday almost flat against the Greenback but the Philippine Stock Exchange index (PSEi) shed as investors continue their wait-and-see stance pending clarity on US-China trade issues.The local currency finished the shortened week’s first trading day at 52.00… Read More
