Business
DTI rolls out livelihood kits for Marawi folk
July 17, 2018, 3:49 pm
MANILA -- The Department of Trade and Industry (DTI) will roll out more livelihood starter kits for residents of war-ravaged Marawi City, following the Department of Budget and Management’s (DBM) approval of PHP872.7 million in funding under the government’s Bangon Marawi program. On Monday,… Read More
AFP, PCG may augment BOC anti-smuggling task force
July 17, 2018, 2:51 pm
MANILA -- The Bureau of Customs (BOC) is in talks with the Armed Forces of the Philippines (AFP) and the Philippine Coast Guard (PCG) regarding plans to expand its anti-smuggling task force by teaming up with these agencies to further strengthen the campaign against the illicit trade, the… Read More
Build, Build, Build 'light-years ahead,' economist says
July 16, 2018, 9:34 pm
MANILA - - The Philippines’ journey towards becoming a first world country is further gaining ground as the Duterte administration pushes through with its ambitious infrastructure program, a noted economist said. University of Asia and the Pacific (UA&P) co-founder and economist Dr. Bernardo M.… Read More
Oversight body's guidelines for 3rd telco out on Friday
July 16, 2018, 9:33 pm
MANILA -- The terms of reference (TOR) governing the entry of that elusive third player in the local telecommunications industry is set to be known on Friday. This, after an inter-agency oversight committee finally concludes its deliberations on which of two proposed TORs will be applied. The… Read More
FMIC execs keep PH ’18 output projection at 7-7.5%
July 16, 2018, 9:30 pm
MANILA -- First Metro Investments Corporation (FMIC) officials remain bullish about the Philippine economy despite rising inflation, keeping its 2018 growth projection between 7 to 7.5 percent. This optimism is reportedly due to expectations of strong domestic demand, government infrastructure… Read More
PH T-bill rates up on inflation concerns
July 16, 2018, 8:09 pm
MANILA -- Worries about rising inflation and the impact of further interest rate hikes both here and overseas evidently pushed Philippine Treasury bills to go the same direction on Monday. Average rate of the bellwether 91-day bill rose to 3.291 percent from last week’s 3.308 percent. National… Read More
Gasoline prices up, diesel down slightly on Tuesday
July 16, 2018, 8:08 pm
MANILA -- Motorists face bitter-sweet adjustments in the prices of petroleum products, as local oil firms get set to once again shake up prices effective 6 a.m. Tuesday (July 17). In separate announcements, oil companies announced a PHP0.30 per liter increase in the price of unleaded gasoline,… Read More
Peso holds ground, local stocks shed anew
July 16, 2018, 8:05 pm
MANILA -- The Philippine peso finished almost unchanged against the US dollar Monday but the Philippine Stock Exchange index (PSEi) tracked the slide of its regional peers. The local unit finished the week’s first trading day at 53.53 from last Friday’s 53.51 close. A trader pointed this… Read More
SB Corp. taps fintech for P3 lending
July 16, 2018, 8:02 pm
MANILA -- Small Business (SB) Corp., the financing arm of the Department of Trade and Industry (DTI), has tapped financial technology firm CRIF Corp. as its credit development partner (CDP) for government’s Pondo sa Pagbabago at Pag-asenso (P3) microfinance program. In a statement Monday, SB… Read More
PH readies post-Brexit trade talks with UK
July 16, 2018, 6:13 pm
MANILA -- The Department of Trade and Industry (DTI) wants a meeting with British International Trade Secretary Liam Fox to provide clarity to the direction of trade between the Philippines and United Kingdom once it formally exits the European Union (EU) next year. Trade and industry Secretary… Read More
PEZA cites contribution to economy despite 56% investments drop
July 16, 2018, 4:29 pm
MANILA -- The Philippine Economic Zone Authority (PEZA) revealed that ecozones' contribution to employment and exports remain positive despite a decline in project registrations. As of May this year, direct employment in PEZA-registered firms increased 3.5 percent to 1.39 million jobs from 1.35… Read More
Gov't working on funding mix for Marawi rehab
July 16, 2018, 3:03 pm
MANILA -- The Philippine government is currently working on the funding mix for PHP52 billion of the five-year PHP62-billion budget for the rehabilitation and reconstruction of the devastated city of Marawi, the Department of Finance (DOF) said in a statement on Monday. Finance Secretary Carlos… Read More
Personal remittances up 4.4% in January-May: BSP
July 16, 2018, 3:02 pm
MANILA -- Personal remittances from Overseas Filipinos (OFs) reached USD2.7 billion in May 2018, 6.1 percent higher than the level posted a year ago. On a cumulative basis, personal remittances for the first five months of the year grew by 4.4 percent year-on-year to reach USD13.2 billion, BSP… Read More
Business intelligence firm sees medium-term economic boost in PH
July 13, 2018, 8:27 pm
MANILA -- Oxford Business Group (OBG), a global research and consultancy firm, backed forecasts of heightened economic activity in the Philippines in the medium-term as government's ambitious infrastructure program goes into high gear. The Build, Build, Build Program of the Duterte administration… Read More
PSEi sustains rally, peso little changed
July 13, 2018, 7:39 pm
MANILA -- The Philippine peso ended the week practically unchanged on Friday, but bargain hunting sustained the Philippine Stock Exchange index’s (PSEi) uptrend for the fourth consecutive session. The country's main stocks gauge gained 0.66 percent, or 48.60 points, to 7,399.18 points. Almost… Read More
FPI chair: Trouble at CIIF-OMG threatens PH coco exports
July 13, 2018, 7:07 pm
MANILA -- Federation of Philippine Industries (FPI) Chairman Jesus Arranza expressed sadness over the mass resignation of key officials of the Coconut Industry Investment Fund - Oil Mills Group (CIIF-OMG) following the appointment of Rehan Lao as president and chief executive officer, saying this… Read More
LTFRB reiterates legality of P10-M fine vs. Grab
July 13, 2018, 5:20 pm
MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) on Thursday reiterated that the PHP10 million fine on ridesharing firm Grab Philippines for overcharging due to the PHP2-per-minute travel charge was in accordance with its regulatory function over the fares of… Read More
BSP seeks NBI help to pursue those behind currency hoax
July 13, 2018, 4:06 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has sought the National Bureau of Investigation's (NBI) assistance in tracking down individuals or groups that have been maliciously posting photos of defaced Philippine currencies on social media. This is in connection with recent online and social… Read More
Gov’t priority set on social services, infra spending: DBM
July 13, 2018, 3:40 pm
MANILA -- The Philippine government continues to invest in areas that ensure future economic gains, such as human capital development and public infrastructure. The Department of Budget and Management (DBM) said in a statement Friday that the proposed 2019 national budget gives priority to social… Read More
Manila Water bags P173-M Pagsanjan project
July 12, 2018, 7:27 pm
MANILA -- Ayala-led Manila Water Company Inc. won an 18-year contract for the development of a PHP173-million water supply project in Pagsanjan, Laguna. In a disclosure to the Philippine Stock Exchange, the water utility said it received Thursday the notice of award from the Pagsanjan Water… Read More
