Employment key to youth poverty reduction, inclusive growth

MANILA -- Investing in the employment of young people is important to poverty reduction and the country’s inclusive economic growth, according to an Asian Development Bank (ADB) Brief.The paper said youth not in employment, education or training (NEET) and slow in school-to-work transition is... Read More

PSBank assures e-channel services on Chinese New Year

MANILA -- All 609 PSBank automated teller machines (ATMs), as well as its mobile and online facilities will be available to cater to the bank's clients on Friday, Chinese New Year holiday, even though all its branches will be closed.In a statement Thursday, the thrift banking arm of the Yuchengco... Read More

Mitsubishi opens P2.8-B biggest stamping shop in PH

SANTA ROSA, Laguna -- Mitsubishi Motors Philippines Corp. (MMPC) opened Thursday its PHP2.8-billion stamping shop here, the biggest stamping facility in the country.The facility is part of the MMPC’s commitment as a participating car maker under the government’s Comprehensive Automotive... Read More

UCPB to close branches on Chinese New Year

MANILA -- All branches of UCPB will be closed on Friday, Feb. 16, due to the declaration of the Chinese New Year celebration as a holiday.In a statement issued Wednesday, the bank, however, assured its clients that its electronic banking facilities, namely the automated teller machines, the... Read More

Final proposal for military pension system out by year-end

MANILA -- An actuarial study on the feasibility of a Government Service Insurance System (GSIS)-run pension system for the military, which will have three types, is expected to be completed before end-2018.Budget and Management Secretary Benjamin Diokno, in a briefing Wednesday, said GSIS officials... Read More

Honda PH recalls 2013 models of City, Jazz, Pilot

MANILA -- Honda Cars Philippines, Inc. (HCPI) is recalling a total of 9,951 vehicles from its 2013 models of City, Jazz, and Pilot due to airbag inflator error.In HCPI’s letter to the Department of Trade and Industry (DTI), the Japanese car company is recalling 8,520 units of Honda City Year... Read More

Brisk sales boost Ayala Land’s 2017 profit by 21%

MANILA -- Property giant Ayala Land Inc. (ALI) on Wednesday said its profit grew 21 percent to PHP25.3 billion in 2017, as property sales and leasing revenues picked up.Its net income reached PHP20.9 billion in 2016.Total revenues grew 14 percent to PHP142.3 billion last year from PHP124.6 billion... Read More

23 PH firms join Gulfood 2018 in UAE

MANILA -- In its effort to fully participate in the global Halal market, the Department of Trade and Industry is assisting 23 Philippine companies in showcasing the best of Philippine food products in Dubai from Feb. 18 to 21, 2018.The exhibition will be under the FoodPhilippines country pavilion at... Read More

Diokno wants review of PBB program

MANILA -- The Department of Budget and Management (DBM) is considering a re-study of the Performance-Based Bonus (PBB) program to ensure a more efficient disbursement of bonuses.In a briefing Wednesday, DBM Secretary Benjamin Diokno said he would order the review of the whole PBB program.“This... Read More

RBs partner with UnionBank for blockchain technology

MANILA -- Four rural banks have partnered with Union Bank for blockchain technology-reliant payment system and officials of the publicly-listed universal bank vows to be help the smaller banks become more efficient.In a briefing, UnionBank Senior Executive Vice President and chief Technology and... Read More

‘Build, Build, Build’ to address job losses: Diokno

MANILA -- Amid more news of lay-offs by several companies in the Philippines in January 2018, Budget and Management Secretary Benjamin Diokno said the Duterte administration’s massive “Build, Build, Build” program is seen as a solution that would address job losses.The current... Read More

Invest in infra, human capital to reap demographic dividend: PIDS

MANILA -- The Philippines needs to invest in infrastructure and human capital in an effort to reap the demographic dividend which is crucial to the country’s economic growth, according to a paper published by state think tank Philippine Institute for Development Studies (PIDS). A paper... Read More

Bargain hunting lifts PSEi anew; peso still down vs USD

MANILA -- The Philippine Stock Exchange index (PSEi) rallied for the second consecutive day Wednesday due to bargain-hunting but the peso remained weak on high corporate demand for the greenback.PSEi gained 0.33 percent, or 27.97 points, to 8,598.11 points, which a trader pointed to broad risk-on... Read More

30 biz groups from China, HK coming to PH

MANILA -- Investors from Hong Kong and mainland China would be visiting the country in April for a business mission, Hong Kong Chamber of Commerce of the Philippines, Inc. (HKCCPI) President Anthony Chan said.

Chan shared to the Philippine News Agency (PNA) that the business delegation coming... Read More

DoubleDragon to build 2nd industrial hub in Iloilo

MANILA -- Listed property developer DoubleDragon Properties Corp. is beefing up its market position in the industrial leasing segment by acquiring a 3.9-hectare lot in Iloilo which it will develop into an industrial hub.DoubleDragon told the local bourse its industrial leasing subsidiary, CentralHub... Read More

'18 inflation rate seen to stay at 3% level: Diokno

MANILA -- Budget and Management Secretary Benjamin Diokno said there is no reason for people to be worried about the uptick of Philippines’ January 2018 inflation rate to four percent from 3.3 percent last January, citing that economic fundamantals remain intact.“Let’s not get... Read More

Regions outside MM get lion's share in infra projects

MANILA -- Regions outside Metro Manila are getting a big share in the total number of infrastructure programs and projects of the government over the medium-term, the National Economic and Development Authority (NEDA) said.Of the 4,985 total infrastructure programs and projects listed in the... Read More

Jollibee nets P7.1-B in 2017

MANILA -- Homegrown fast-food giant Jollibee Foods Corp. (JFC) posted a 15-percent increase in profit in 2017 to PHP7.1 billion after opening its highest number of new stores. JFC’s net income attributable to equity holders of its parent firm reached PHP6.2 billion in 2016.For the... Read More

‘Super consortium’ eyes NAIA transformation into a regional hub

MANILA -- Seven major conglomerates formally formed Tuesday a consortium that vows to transform the Ninoy Aquino International Airport (NAIA) into a regional airport hub.The NAIA Consortium was formed following the submission of its unsolicited proposal to the Department of Transportation (DOTr) to... Read More

Phoenix eyes 60 more stations

MANILA -- Phoenix Petroleum Philippines Inc. foresees a rosy prospect for this year as it targets to put up 50 to 60 more gasoline stations throughout the country within the year, adding to its 530 stations.“(These are) all over the country, but of course we look for strategic locations which... Read More