Business

Printer malfunction delays SSS checks

Printer malfunction delays SSS checks

June 1, 2018, 7:16 pm

 MANILA -- The Social Security System (SSS) has apologized to some 106,950 members and pensioners who will not be getting their checks for salary loans, death, disability, retirement, sickness and maternity claims on time. SSS media affairs head, Ma. Louisa Sebastian, on Friday attributed the… Read More

DOF: Build Build Build to narrow inequality in PH

DOF: Build Build Build to narrow inequality in PH

June 1, 2018, 5:49 pm

MANILA -- The Department of Finance (DOF) said Friday the Duterte administration's ambitious infrastructure program dubbed the Build Build Build Program, will contribute greatly to narrowing inequality among regions. In its Economic Bulletin on gross regional domestic product (GRDP) released… Read More

PH manufacturing sector strengthens in May

PH manufacturing sector strengthens in May

June 1, 2018, 5:08 pm

MANILA -- The country’s manufacturing sector gained strength in May to 53.7 from 52.7 the previous month as reflected by IHS Markit's purchasing managers’ index (PMI) survey, which was released Friday. The Philippines’ manufacturing sector’s score was also the second highest among surveyed… Read More

Money supply, lending expand in April

Money supply, lending expand in April

June 1, 2018, 5:01 pm

MANILA -- Domestic liquidity, also known as M3, continued to expand in April this year, the Bangko Sentral ng Pilipinas (BSP) said. In its latest Depository Corporations Survey released Friday, the BSP said the country’s money supply grew by 14.2 percent to PHP10.9 trillion in April 2018 from… Read More

BSP: Business optimism on PH still stable in Q2

BSP: Business optimism on PH still stable in Q2

May 31, 2018, 7:39 pm

MANILA -- Bangko Sentral ng Pilipinas' (BSP) Business Expectation Survey (BES) for the second quarter of 2018 revealed that businessmen have remained optimistic about the Philippine economy. The BSP reported Thursday that overall confidence index in Q2 2018 stood at 39.3 percent, slipping from… Read More

NegOcc coffee industry mulls 'localized' action plan

NegOcc coffee industry mulls 'localized' action plan

May 31, 2018, 7:13 pm

BACOLOD CITY -- The Department of Trade and Industry (DTI) is spearheading efforts to "localize" Negros Occidental's coffee industry to make it more in-tune with the government's broader Philippine Coffee Industry Roadmap for 2017 to 2022. Lea Gonzales, provincial director of the DTI in Negros… Read More

Dominguez pitches PH infra, IT projects to S. Korea

Dominguez pitches PH infra, IT projects to S. Korea

May 31, 2018, 5:56 pm

MANILA -- Finance Secretary Carlos Dominguez III has sought South Korea’s funding support and expertise in implementing the Philippines’ big-ticket infrastructure and information technology (IT) projects, in line with the Duterte administration’s goal of modernizing the country’s logistics… Read More

TUCP says P18-P23 daily wage hike 'an insult' to workers

TUCP says P18-P23 daily wage hike 'an insult' to workers

May 31, 2018, 4:51 pm

MANILA -- Organized labor took the PHP18 to PHP23 daily wage increase figure being floated in some circles as a virtual slap in the face of millions of Filipino workers now struggling to make ends meet following an inflation surge triggered by a confluence of global and domestic factors. The… Read More

BSP forecasts higher inflation in May

BSP forecasts higher inflation in May

May 31, 2018, 3:48 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) is projecting an even higher inflation rate this month to settle within the range of 4.6 percent to 5.4 percent. Inflation rate last month stood at 4.5 percent. “Higher domestic petroleum prices amid geopolitical tensions in the Middle East, as… Read More

16 Taiwanese firms scout for business opportunities in PH

16 Taiwanese firms scout for business opportunities in PH

May 31, 2018, 3:10 pm

MANILA -- Sixteen companies from Taiwan recently visited the Philippines in search of business opportunities, the Board of Investments (BOI) revealed in a statement Thursday. Industrial Group of Taiwan Head of Delegation Mark Ho led the visit of Taiwanese firms here last week. They were reportedly… Read More

BTr offers retail bonds to public

BTr offers retail bonds to public

May 31, 2018, 9:35 am

MANILA -- The investing public can now help the government raise much-needed funds to support its massive infrastructure program, with the Bureau of Treasury's (BTr) retail treasury bonds (RTBs) offer from May 30 to June 8, 2018. This is after the BTr accepted PHP66 billion of the total PHP92.8… Read More

Market favors longer tenors TDF

Market favors longer tenors TDF

May 30, 2018, 9:00 pm

MANILA -- Banks subscribing to the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) favor 14-day and 28-day tenors, TDF auction results reflected Wednesday. Among the three tenors, the seven-day TDF was the only undersubscribed as tenders fell short to its offered amount of PHP50… Read More

PLDT sustains growth in digital service revenues

PLDT sustains growth in digital service revenues

May 30, 2018, 8:51 pm

MANILA -- The digital enterprise unit of local telco giant PLDT, Inc. has registered a strong performance for the first quarter of the year, driven by its ongoing nationwide deployment of digital services. The information and communication technology revenues of PLDT Enterprise reached PHP5.59… Read More

Rockwell Land maintains P14-B capex for 2018

Rockwell Land maintains P14-B capex for 2018

May 30, 2018, 8:49 pm

MANILA -- Lopez-owned developer Rockwell Land Corp. is maintaining its PHP14 billion capital expenditures this year, as it launches new projects and beefs up its land bank to support continued growth. Senior Vice President for Residential Development Val Soliven told reporters after the… Read More

DepEd, BSP, BDO Foundation tie up for financial literacy program

DepEd, BSP, BDO Foundation tie up for financial literacy program

May 30, 2018, 8:40 pm

MANDALUYONG CITY -- Education Secretary Leonor Magtolis Briones led the launch of the Financial Literacy Program for Schools, a partnership project of Bangko Sentral ng Pilipinas (BSP), Department of Education (DepEd), and BDO Foundation (BDOF), on May 28, 2018 at the BDO Corporate Center in… Read More

 Universal Robina continues overseas expansion

Universal Robina continues overseas expansion

May 30, 2018, 8:35 pm

MANILA -- Gokongwei-led food manufacturer Universal Robina Corporation (URC) is spending around PHP2.4 billion this year for the expansion of its business overseas. “We are primarily adding snacking lines in Australia and additional confectionary lines in Malaysia,” URC chairman Lance… Read More

FSCC remains vigilant vs. potential systemic risks

FSCC remains vigilant vs. potential systemic risks

May 30, 2018, 8:31 pm

MANILA -- The Financial Stability Coordination Council (FSCC) recently held its quarterly meeting to assess and review potential risks to the continued stability of the Philippine financial market. The latest systemic risk review highlighted the country’s strong economic performance on several… Read More

Gov't mulls putting SRPs on agri products

Gov't mulls putting SRPs on agri products

May 30, 2018, 8:11 pm

MANILA -- The departments of trade and agriculture are seriously looking into the feasibility of putting suggested retail prices (SRPs) on major agricultural products. In a press briefing following an emergency meeting of the National Price Coordinating Council Wednesday, Department of Agriculture… Read More

Health insurance program for OFWs launched

Health insurance program for OFWs launched

May 30, 2018, 8:05 pm

MANILA -- A new health insurance program which is intended to reduce the cost of hospitalization of Overseas Filipino Workers (OFWs) and their families was launched Wednesday. The Bayani Family Care Program is a health care plan that provides coverage for emergency care and hospitalization for… Read More

Nat'l ID, rice tariffs to complement TRAIN mitigation measures

Nat'l ID, rice tariffs to complement TRAIN mitigation measures

May 30, 2018, 8:02 pm

MANILA -- The government is accelerating the rollout of social mitigation measures such as unconditional transfers (UCTs) and fuel vouchers, which need to be complemented by the enactment into laws of a national ID system and the lifting of restrictions on rice imports, to further ease the impact… Read More