Business

BDO announces Peso Bond program

BDO announces Peso Bond program

September 3, 2018, 7:08 pm

MANILA -- Sy-led BDO Unibank Inc. on Monday announced the establishment of a Peso Bond Program that will have as much as PHP100 billion in funding. In a disclosure with the Philippine Stock Exchange, the bank said the bond program was approved by the bank’s Board of Directors during its meeting… Read More

 PH to grow about 6.8% in 2018, Dominguez tells Fitch

PH to grow about 6.8% in 2018, Dominguez tells Fitch

September 3, 2018, 7:06 pm

MANILA -- The Philippine economy's growth is expected to remain strong at “close to 6.8 percent” this 2018 and will be driven by the increased spending on infrastructure, the country's finance chief said in a recent Fitch Ratings interview in Manila. “In think we will still be close to 6.8… Read More

Manufacturing PMI up in August

Manufacturing PMI up in August

September 3, 2018, 6:01 pm

MANILA -- The manufacturing sector appeared revitalized in August, the Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) of IHS Markit reported Monday. In the survey, the country’s manufacturing score rose to 51.9 in August from a 50.9 index in July of this year. The report… Read More

Biz leaders still positive about PH despite uncertainties

Biz leaders still positive about PH despite uncertainties

September 3, 2018, 6:00 pm

MANILA -- Top business executives have kept their optimism in the Philippine economy and revenue prospects, but their fears on regulatory and political uncertainties are making them hold back on their expansion plans, the result of a business leaders’ survey showed. The Philippine CEO Survey… Read More

Technology can grow PH economy 10% faster: PIDS

Technology can grow PH economy 10% faster: PIDS

September 3, 2018, 5:58 pm

MANILA -- The Philippine economy could grow faster by an estimated 10 percent, provided that emerging technologies, knowledge and the Fourth Industrial Revolution can be utilized to accelerate productivity, according to a research fellow of the Philippine Institute of Development Studies (PIDS).… Read More

PH, Indonesia sign deal on revival of Davao-Manado flights

PH, Indonesia sign deal on revival of Davao-Manado flights

September 3, 2018, 5:32 pm

MANILA -- The governments of the Philippines and Indonesia have signed an agreement that will pave the way for the resumption of flights from Davao City to Manado in North Sulawesi. The revival of this route will boost trade, tourism and investments in both countries according to the Department of… Read More

DOF sees August inflation hitting 5.9%

DOF sees August inflation hitting 5.9%

September 3, 2018, 5:13 pm

MANILA -- A ranking official of the Department of Finance (DOF) forecasts August 2018 inflation climbing even higher to 5.9 percent but also noted that inflationary pressures appear to be easing. This forecast exceeds the multiyear high of 5.7 percent posted last July. Inflation in September 2017… Read More

PH CEOs see change in business models due to new technologies

PH CEOs see change in business models due to new technologies

September 3, 2018, 3:22 pm

MANILA -- Filipino CEOs or chief executive officers have acknowledged the impact of disruptive innovation in their industries and are ready to roll out strategies to harness such disruptions in the marketplace. The Management Association of the Philippines (MAP) and the PwC Philippines launched… Read More

SSS allocates P10-B as initial fund for pensioners' loan

SSS allocates P10-B as initial fund for pensioners' loan

September 3, 2018, 2:44 pm

MANILA -- The Social Security System (SSS) has allocated PHP10 billion as initial budget for its Pension Loan Program (PLP), which can be availed of by about 1.5 million retirees, initially at 20 branches nationwide starting September 3, 2018. The minimum loan amount is twice the pensioner’s… Read More

Infrastructure boom backs SteelAsia's 1M-ton production

Infrastructure boom backs SteelAsia's 1M-ton production

September 2, 2018, 7:00 pm

MANILA -- The booming infrastructure activities in the Philippines supported the increasing production of the SteelAsia Manufacturing Corp., the country’s largest steelmaker. SteelAsia reported that the reinforcing steel bars’ production of its six manufacturing facilities in the country has… Read More

Economist projects August inflation at 5.8%

Economist projects August inflation at 5.8%

September 2, 2018, 2:13 pm

MANILA -- A senior economist of IHS Markit expects that inflation in August further climbed from the five-year high rate of 5.7 percent in July. IHS Markit Chief Economist for Asia Pacific Rajiv Biswas, in an e-mail, said price pressures are “finally peaking” last month, with inflation rate… Read More

PH asks South Korea to cut banana tariff

PH asks South Korea to cut banana tariff

September 2, 2018, 12:04 pm

MANILA -- The Philippines’ trade department is in talks with its counterpart in South Korea to further reduce tariff rate for its banana exports entering the East Asian country. In a text message to reporters over the weekend, Department of Trade and Industry (DTI) Secretary Ramon Lopez said he… Read More

Domestic liquidity growth eases further in July: BSP

Domestic liquidity growth eases further in July: BSP

August 31, 2018, 9:43 pm

MANILA -- Bangko Sentral ng Pilipinas' (BSP) preliminary data released Friday showed that domestic liquidity (M3) grew by 11.0 percent year-on year to about P11.1 trillion in July 2018, slower than the 11.8-percent (revised) expansion in the previous month. On a month-on-month seasonally-adjusted… Read More

Local stocks up, Peso little changed as trading week ends

Local stocks up, Peso little changed as trading week ends

August 31, 2018, 8:05 pm

MANILA -- The resiliency of the Philippine peso and the Philippine Stock Exchange index (PSEi) shone through on Friday amidst negative sentiments due to concerns over US-China trade woes and worsening economic issues in Argentina and Turkey. Local equities also suffered from the impact of… Read More

Economists forecast '6%-level' August inflation

Economists forecast '6%-level' August inflation

August 31, 2018, 8:03 pm

MANILA -- Private-sector economists forecast August's inflation to be in the "six percent-level", slightly higher than what their counterparts in government are predicting. In a report released Friday, ING economist for Asia Prakash Sakpal forecasts “inflation surging past the six percent mark… Read More

PH joins move for ASEAN-wide Self-Certification Scheme

PH joins move for ASEAN-wide Self-Certification Scheme

August 31, 2018, 7:38 pm

MANILA -- The Philippines, along with the nine member states of Association of Southeast Asian Nations (ASEAN), are on their way towards the realization of an ASEAN-wide Self-Certification Scheme (AWSC). During the ASEAN Economic Ministers (AEM) Meeting in Singapore from August 29 to September 1,… Read More

Seamless electronic toll collection for CALAX motorists by 2020

Seamless electronic toll collection for CALAX motorists by 2020

August 31, 2018, 7:35 pm

MANILA -- An electronic toll collection (ETC) system will be established along the Cavite-Laguna Expressway (CALAX) once its construction is completed by 2020. CALAX operator MPCALA Holdings Incorporated has signed an agreement with infrastructure firm Egis Projects Philippines Inc. (EPPI) for the… Read More

Beep card transactions hit 1-B mark

Beep card transactions hit 1-B mark

August 31, 2018, 7:33 pm

MANILA -- The payment of fares using beep cards by passengers of Light Rail Transit (LRT) Lines 1 and 2, as well as the Metro Rail Transit Line 3 (MRT-3) has reached the one billion mark this month. Of this number, 56 percent were beep card transactions while 44 percent were cash through single… Read More

BSP forecasts August inflation at 5.9%

BSP forecasts August inflation at 5.9%

August 31, 2018, 6:39 pm

MANILA -- Philippine monetary officials are expecting inflation to soar even higher in August, about 5.9 percent, or even higher than a month-ago’s multiyear high of 5.7 percent. In a statement Friday, the Bangko Sentral ng Pilipinas (BSP) said its Department of Economic Research (DER) forecasts… Read More

DTI asks wet market vendors to explain poultry prices

DTI asks wet market vendors to explain poultry prices

August 31, 2018, 4:58 pm

MANILA -- The Department of Trade and Industry (DTI) issued on Friday letters of inquiry to 15 wet market vendors in Paco Market (Manila) and Nepa Q-Mart (Quezon City), asking them to explain why the prices of chicken are so high. This, is after the Fair Trade Enforcement Bureau (FTEB) learned… Read More