Moog to boost production in PH

MANILA -- The local facility of aircraft parts manufacturer Moog, Inc. is eyeing to boost its output in the Philippines due to the rapid growth of the aerospace industry.Moog Controls Corp. General Manager Damien Damperon said the company’s plant in Baguio aims to increase its production... Read More

Middle East investors eyed for Mindanao

DAVAO CITY -- The Mindanao Development Authority (MinDA) is eyeing investors from the Middle East countries for the development of Mindanao.MinDA Chair Secretary Datu Abul Khayr Alonto said he will be meeting with some investors from the Middle East who are interested to pour in capital to the... Read More

LTFRB wary on PCC order allowing Uber to continue ops

MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has expressed concern that the order of the Philippine Competition Commission (PCC) for ride-sharing firms Uber and Grab to maintain their separate business operations beyond April 8 would adversely impact the safety and... Read More

Mindanao’s growth to drive PH progress: WB exec

DAVAO CITY -- The growth and development of Mindanao could drive the country’s full progress if the government and other stakeholders succeed in unlocking the region’s potentials.This prospect was expressed by World Bank (WB) Country Director for Brunei, Malaysia, the Philippines and... Read More

Grab vows no outright siphoning of Uber riders' personal data

MANILA -- No personal information of passengers of ride-sharing firm Uber will be migrated to the platform of Grab once the former's Philippine operations cease on April 8.This, as Grab vows to ensure that the personal data of Uber’s passengers as well as its drivers will be... Read More

PSBank branches closed on April 9 holiday

MANILA -- All branches of Philippine Savings Bank (PSBank) will be closed on April 9, 2018, a holiday, in line with the commemoration of the Araw ng Kagitingan (Day of Valor).In an advisory, the bank, however, assured its clients that all its 609 automated teller machines (ATMs) will be online on... Read More

Peso sustains strength, PSEi downed by US-China trade worries

MANILA -- The Philippine Peso ended the week stronger against the greenback but the main equities index fell ahead of the release of US’ non-farm payrolls report for March 2018.The local unit finished the week at 52.02 from Thursday’s 52.11, which a trader said was due to... Read More

Weak Peso could make BSP hawkish: Economist

MANILA -- An economist of Dutch financial giant ING Bank said the continued weakness of the Philippine peso could push the Bangko Sentral ng Pilipinas (BSP) into a hawkish posture amid its steady policy stance as inflation rises.In a research note, ING Bank Manila senior economist Joey Cuyegkeng... Read More

Australia's top wine producer looks to China under new ownership

CANBERRA -- The American owners of Australia's biggest wine company hopes to capitalize on the growing demand for wine in China.U.S. private equity firm Carlyle Group on Thursday agreed to buy South Australia's Accolade Wines from Australia's CHAMP Private Equity for 1 billion Australian dollars... Read More

Local aerospace industry urged to capture global demand

CLARK FREEPORT ZONE, Pampanga -- The country’s aerospace industry is urged to take advantage of the robust global demand through enhanced investments, which in turn will create more jobs here.During the press launch of the Aeromart Summit Clark - Philippines here Friday, Trade and Industry... Read More

DICT plans to name 3rd major telco player before PRRD's SONA

MANILA -- The Department of Information and Communications Technology (DICT) is eyeing to identify the third major player in the local telecommunications industry before President Rodrigo R. Duterte delivers his State of the Nation Address (SONA) in July.“We have a self-imposed deadline for... Read More

PCC asks Uber, Grab to maintain operations beyond April 8

MANILA -- The Philippine Competition Commission (PCC) has asked ride-sharing firms Uber and Grab to operate their respective platforms beyond April 8, pending its review of Grab’s acquisition of Uber’s operations in Southeast Asia.The PCC wants both Uber and Grab to continue to operate... Read More

Peso steady as PSEi rebounds

MANILA – The Philippine peso continued to hold its ground against the Greenback while the Philippine Stock Exchange index (PSEi) recovered and went back to 8,000-level as US officials downplay the possible trade war with China.The local currency finished Thursday at 52.11 or virtually... Read More

PH Q1 '18 revenues, disbursement improve

MANILA -- Gains from the Duterte administration’s tax reform program as well as the massive infrastructure program are reportedly being felt already.Finance Secretary Carlos G. Dominguez III said collections of the Bureau of Internal Revenue (BIR) in the first quarter of 2018 rose by 15... Read More

DTI optimistic with auto industry’s growth

MANILA – The Department of Trade and Industry (DTI) maintains a positive outlook of the country’s automotive industry.Board of Investments (BOI) Executive Director Ma. Corazon Halili-Dichosa said during the Manila International Auto Show (MIAS) 2018 Thursday that the automotive industry... Read More

PH March '18 inflation uptick as expected: BSP

MANILA -- The Philippines’ higher-than-target inflation rate of 4.3 percent in March 2018 was not unexpected, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said Thursday.“Markets are already factoring this,” he told reporters in a WhatsApp message.In March... Read More

Manufacturing output, value post double-digit in February

MANILA -- The country’s manufacturing output and value posted double-digit growth in February, the Philippine Statistics Authority (PSA) reported Thursday.In its Monthly Integrated Survey of Selected Industries (MISSI) for February 2018, volume of production index (VoPi) increased to 24.8... Read More

Ramon Ang on Boracay rehab: It’s a step in the right direction

MANILA -- San Miguel Corp. (SMC) President and COO Ramon Ang said he supports the government’s initiative to regenerate the world-famous island resort of Boracay and eventually transform it into a sustainable tourist destination.SMC currently operates the Boracay Airport in Caticlan and... Read More

Vista Land to launch P50-B projects this year

MANILA -- Property developer Vista Land & Lifescapes Inc. plans to introduce to the market over PHP50 billion worth of projects this year, as it aims to sustain its double-digit profit growth.“We had a record year last year. We expect to have another record year with double-digit increases... Read More

DOF sees March inflation rate at 4.1%  

MANILA -- Higher taxes on sin products are seen to drive Philippines’ inflation rate higher in March 2018 to around 4.1 percent from 3.9 percent in the previous month using the rebased 2012 index.“Of the 4.1% forecast inflation rate for March, sin products account for as much as 0.5... Read More