Business

Lopez welcomes bills institutionalizing gov’t microfinance

Lopez welcomes bills institutionalizing gov’t microfinance

September 27, 2018, 6:19 pm

MANILA -- Trade Secretary Ramon Lopez welcomed legislative measures supporting the microfinance program of the Department of Trade and Industry (DTI), Pondo sa Pagbabago at Pag-asenso or P3 Program. Both houses in Congress now have pending bills seeking to institutionalize the P3 Program… Read More

TDF rates rise again ahead of MB policy meet

TDF rates rise again ahead of MB policy meet

September 26, 2018, 9:08 pm

MANILA – The rates of all tenors of central bank's Term Deposit Facility (TDF) rose again this week attributed to the expectations that the Monetary Board (MB) will impose another hike in key rates when it meets Thursday. Weighted average rate of the seven-day facility went up to 4.4215 percent… Read More

Local markets on wait-and-see mode pending BSP, Fed rate decisions

Local markets on wait-and-see mode pending BSP, Fed rate decisions

September 26, 2018, 6:42 pm

MANILA -- Investors stayed in the sidelines during Wednesday’s equities trading ahead of much-awaited policy rate announcements by both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). The same wait-and-see sentiment also kept the peso virtually unchanged. The Philippine Stock… Read More

Invest in technology, PH water sector urged

Invest in technology, PH water sector urged

September 26, 2018, 5:41 pm

MANILA – Amid the challenges confronting the Philippines in the area of water resource management, the country's policy-makers have been urged to invest in water technology to make the sector more efficient. In a media round table on Wednesday, Xylem President and Chief Executive Officer Patrick… Read More

BOC-Dumaguete revenue collection hits P2-B mark

BOC-Dumaguete revenue collection hits P2-B mark

September 26, 2018, 5:12 pm

DUMAGUETE CITY – The Bureau of Customs (BOC) Sub-port Office in Dumaguete City, Negros Oriental is closing in on its target revenue collection for 2018 way ahead of schedule, having already reached the PHP2-billion mark as of September. Dumaguete Customs Collector Fe Lluelyn G. Toring said… Read More

PH growth to resume in 2019: ADB

PH growth to resume in 2019: ADB

September 26, 2018, 5:10 pm

MANILA -- The Asian Development Bank (ADB) expects Philippine economic growth to pick up next year amid the tapering off of inflationary pressures and the government’s infrastructure push. In an update of its flagship annual economic publication, Asian Development Outlook (ADO), the ADB on… Read More

August car sales hint recovery

August car sales hint recovery

September 26, 2018, 4:58 pm

MANILA – Automotive vehicle sales in August increased by 8.1 percent on a month-on-month basis, signaling what could be an end to sluggish sales in recent months, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported… Read More

 BSP seen to hike rates further, cut RRR anew

BSP seen to hike rates further, cut RRR anew

September 26, 2018, 4:43 pm

MANILA – Though inflation is widely believed to have peaked in August, analysts still anticipate that the Monetary Board (MB) will go through with another hike in key rates on Thursday, September 27. Economists of First Metro Investments Corporation (FMIC) and the UA&P Capital Markets Research… Read More

Strong condo sales seen to boost DMCI Homes income this year

Strong condo sales seen to boost DMCI Homes income this year

September 26, 2018, 1:09 pm

MANILA -- DMCI Homes expects to further boost its earnings this year with the consistent strong sales posted by its residential projects. One key contributor is Fairlane Residences in Kapitolyo, Pasig City which has posted PHP7.52 billion in total sales revenue as of Sept. 24, 2018. The… Read More

British firm ties up with Bataan to digitally aid teachers, students

British firm ties up with Bataan to digitally aid teachers, students

September 26, 2018, 11:49 am

BALANGA CITY, Bataan-- A British company on Monday tied up with the city government of Balanga and the provincial government of Bataan to provide digital aid or platform to lessen the burden of teachers and help improve the learning capacity of students. “With the use of our platform, 85 percent… Read More

IPOPHL to roll out green lane for trademark applications

IPOPHL to roll out green lane for trademark applications

September 25, 2018, 9:42 pm

MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) is set to roll out a ‘green lane’ for trademark applications that will slash the average processing time for registration, which currently takes about eight months to be approved. In a statement Tuesday, IPOPHL said it will… Read More

BSP warns public against frauds, scams

BSP warns public against frauds, scams

September 25, 2018, 9:33 pm

LEGAZPI CITY -- The Bangko Sentral ng Pilipinas (BSP) on Tuesday warned the public against frauds and scams, in the wake of the fast approaching holiday season. Paulette Gay Menguilla, BSP spokesperson, in an interview said during Christmas season, fraudulent activities are very rampant as… Read More

Electronics industry to survive tax reforms

Electronics industry to survive tax reforms

September 25, 2018, 9:08 pm

MANILA -- The local electronics industry can survive the scrapping of certain tax perks such as the 5-percent gross income earned (GIE), but radically revamping the Philippine Economic Zone Authority's (PEZA) processes may prove even more worrisome. Maxim Integrated Vice President for Asia Factory… Read More

Corporate income tax cuts won't lead to job losses

Corporate income tax cuts won't lead to job losses

September 25, 2018, 8:45 pm

MANILA -- Finance Undersecretary Karl Chua said the removal of certain incentives under the proposed tax reform measure will not result in job losses. In an interview Tuesday after the Senate hearing on the Package 2 of the proposed tax reform, Chua said they have not determined which sectors will… Read More

RCBC Savings Bank to merge with mother unit

RCBC Savings Bank to merge with mother unit

September 25, 2018, 8:07 pm

MANILA -- Rizal Commercial Banking Corp.’s (RCBC) Board of Directors has approved the merger of the bank’s subsidiary, RCBC Savings Bank, with RCBC. In a disclosure with the Philippine Stock Exchange (PSE) Tuesday, the bank said the Board’s decision was made on Monday, subject to approval by… Read More

Overseas trade concerns weaken local markets

Overseas trade concerns weaken local markets

September 25, 2018, 8:06 pm

MANILA -- Continued trade war concerns weighed heavily on the Philippines’ equities and the peso on Tuesday, with the latter ending the day at its nearly 13-year low against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.37 percent, or 101.44 points, to 7,332.17 points.… Read More

7-year PH T-bond rate up

7-year PH T-bond rate up

September 25, 2018, 7:10 pm

MANILA -- The Bureau of the Treasury’s (BTr) auction committee on Tuesday made a partial award for the seven-year Treasury bond (T-bond) amid the spike in interest rates. The rate of the debt paper rose by 110.9 basis points to 7.085 percent from 5.976 percent previously.Deputy Treasurer Erwin… Read More

Book imports, purchases to remain tax-exempt: DOF

Book imports, purchases to remain tax-exempt: DOF

September 25, 2018, 2:41 pm

MANILA -- The Department of Finance (DOF) has assured the public on Tuesday that the purchase and importation of books will remain tax exempt under the second tax reform package of the Duterte administration. Finance Undersecretary Karl Kendrick Chua, in a recent news forum, said the value-added… Read More

Peso loses, local stocks gain on Monday

Peso loses, local stocks gain on Monday

September 25, 2018, 11:11 am

MANILA -- The trade war between United States and China continues to drag the Philippine peso, but the local bourse seems to have worn out the effects of the external headwind. On Monday, Philippine peso continues to depreciate against a U.S. dollar on Monday, closing the day at 54.23 from… Read More

BTr rejects bids for P15-B T-bills

BTr rejects bids for P15-B T-bills

September 24, 2018, 9:22 pm

MANILA -- The Bureau of Treasury (BTr) has rejected all tenders for Treasury bills (T-bills) across three tenors on Monday’s auction. Deputy Treasurer Erwin Sta. Ana said the auction committee opted to be more prudent while waiting for the outcomes of meetings of the Monetary Board (MB) as well… Read More