BSP sets resumption of 28-day TDF auction

MANILA -- The Bangko Sentral ng Pilipinas (BSP) will offer again its 28-day Term Deposit Facility (TDF) for auction on Feb. 7, 2018, five weeks after it last offered the facility last December 28.Data released by the central bank Wednesday showed that BSP would offer the longer-tenor facility for... Read More

TRB scraps new Skyway toll payment scheme

MANILA -- Department of Transportation (DOTr) Secretary Arthur Tugade has directed the Toll Regulatory Board (TRB) to scrap the new Skyway toll payment scheme which drew flak from motorists due to the heavy traffic it has caused.Tugade said the new toll collection system must not be put in place... Read More

Gov't sets up info hubs for local PPP projects

MANILA -- The government is setting up regional knowledge corners to support its intensified efforts to implement public private partnerships (PPPs) projects at the local level and boost regional development.“We recognize the essential role that PPPs will play to support the success of the... Read More

Century-old biz group wants mining law amended

MANILA -- The country’s oldest business organization, the Chamber of Commerce of the Philippines Islands (CCPI), has sought sponsorship in Congress to amend mining laws.CCPI President Jose Luis Yulo Jr. told reporters on the sidelines of the Nordic Chamber of Commerce of the Philippines... Read More

Top biz exec says PH growing 6.7% this year is doable

MANILA -- A top executive of Difference Group, a global provider of multipolar advisory services, sees the Philippines to sustain its economic growth this year and 2019.Difference Group Chief Executive Officer and founder Dr. Dan Steinbock told Nordic businessmen during Nordic Chamber of Commerce of... Read More

Gov’t urged to improve post-disaster reconstruction financing

MANILA -- The government needs to enhance mechanisms for financing post-disaster reconstruction in the country amid the frequency of occurrence of natural disasters and climate change, said the state think tank Philippine Institute for Development Studies (PIDS).Deanna Villacin, Tatum Ramos and... Read More

Skyway returns to old toll payment scheme

MANILA -- Skyway has returned to its old toll payment scheme after motorists complained of heavy traffic caused by the opening of its new runway toll plaza and payment scheme.Effective 10 p.m. Tuesday, Skyway has temporarily reverted to its old “pay as you enter” scheme for private... Read More

Rising retail trade boosts industrial market demand

MANILA -- The rising retail trade has been boosting demand in industrial space in the country, Santos Knight Frank Associate Director for Investment and Capital Markets Kash Salvador said.

In a briefing Tuesday, Salvador said retail trade continued to drive the industry while being supported by... Read More

PH, SoKor want closer partnership on infra, boost trade

MANILA -- South Korea aims to strengthen its cooperation with the Philippines to partner with the Duterte administration’s infrastructure projects as well as to boost two-way trade between the two nations.In a press conference Tuesday, Philippine Ambassador to South Korea Raul Hernandez said... Read More

PH-India eco tie-up to benefit manufacturers, construction firms

MANILA - - A ranking official of HSBC Philippines is optimistic on the heightened economic tie-up between the Philippines and India, citing that more opportunities have opened up for Filipino businessmen who are into manufacturing and construction.President Rodrigo R. Duterte was in India last week... Read More

PSEi, peso weaken on hike in US Treasuries

MANILA - - Profit-taking stopped the three-day record-high surge of the Philippine Stock Exchange index’ (PSEi) Tuesday resulting in a sustained weakness of the peso.PSEi finished the day’s trade at 8,910.48 points, down 1.64 percent or 148.14 points, which a trader traced to the same... Read More

UnionBank launches P3-B LTNCD offering

MANILA -- Listed Union Bank of the Philippines on Tuesday launched a PHP3-billion offering of high-yielding deposit notes to support business expansion plans and improve deposit maturity profile.The offering represents the initial tranche of up to PHP20 billion worth of long-term negotiable... Read More

Cebu Landmasters allots P379-M for VisMin projects

MANILA -- Listed property developer Cebu Landmasters Inc. (CLI) on Tuesday said some PHP378.8 million, a part of the proceeds of its initial public offering (IPO) last June, had been allocated for the firm's expansion in Visayas and Mindanao.The company told the local bourse its Board agreed to... Read More

BPO to continue driving demand for office space

MANILA -- The business process outsourcing (BPO) industry is seen to continue driving demand for office space this year, top executive of property consultancy firm Santos Knight Frank said Tuesday.“The Philippine BPO sector will continue to thrive in the coming years,” Santos Knight... Read More

Landbank starts due diligence on planned PDSHC share purchase

MANILA -- Land Bank of the Philippines (Landbank) started Tuesday its due diligence on planned purchase of the majority stake in the Philippine Dealing System Holdings Corp. (PDSHC).Landbank President Alex V. Buenaventura on Monday met with officials of the Securities and Exchange Commission (SEC)... Read More

Filing of proposed sin tax reform moved to February

MANILA -- Officials of the Department of Finance (DOF) have postponed the submission of the proposed Package 2 plus, or reforms in the sin tax law, from end-January to mid-February as they continue to fine-tune the planned tax measure.“There will be a delay of about two weeks,” Finance... Read More

Apple halves iPhone X production due to low demand

TOKYO -- US Corporation Apple will halve production of its new smartphone iPhone X in January-March from 40 to 20 million devices due to low demand, the Nikkei newspaper reported on Tuesday.The company had already notified the suppliers of components.Apple said that low sales of the flagship model... Read More

Focus on manufacturing fuels economic growth: Pernia

MANILA -- The Philippines should continue focusing on manufacturing to drive economic growth amid the plateauing of the business process outsourcing (BPO) sector’s development, said the country’s chief economist.“We should continue to put emphasis on manufacturing not just of the... Read More

Manila Water bags contract for Ilagan, Isabela project

MANILA -- Ayala-led Manila Water Co. Inc and its wholly-owned subsidiary, Manila Water Philippine Ventures, Inc. (MWPV) secured on Monday a contract to provide bulk water in the City of Ilagan, Isabela.Manila Water told the local bourse it had received the notice of award from the City of Ilagan... Read More

12 Korean firms in PH for investment, market research mission

MANILA -- Twelve South Korea-based companies are in the Philippines for investment and market research mission.The Korean firms are also accompanied by ASEAN-Korea Centre (AKC), International Contractors Association of Korea, and Asia Center of Seoul National University.AKC Secretary General Kim... Read More