Business

PCCI execs unfazed by 6.4% inflation

PCCI execs unfazed by 6.4% inflation

September 11, 2018, 4:07 pm

MANILA -- Top officers of the Philippine Chamber of Commerce and Industry (PCCI) are taking the 6.4 percent August inflation rate in stride, even as they called on economic managers to apply the necessary remedial measures to counter price surges. In a press conference Tuesday, PCCI Honorary… Read More

Economic intervention needed to cushion Bicol inflation: Salceda

Economic intervention needed to cushion Bicol inflation: Salceda

September 11, 2018, 2:13 pm

LEGAZPI CITY -- Albay Rep. Joey Salceda on Tuesday called for an immediate economic intervention to mitigate the effects of soaring inflation in the Bicol region. Salceda said the 9-percent inflation rate that hit Bicol is already a cause for alarm since it is the highest in the country,… Read More

Measures to curb inflation underway: Lambino

Measures to curb inflation underway: Lambino

September 10, 2018, 9:38 pm

MANILA – An official of the Department of Finance (DOF) allayed fears surrounding the country's elevated inflation rate, citing recently approved measures aimed at addressing supply constraints. DOF Assistant Secretary Tony Lambino, during the launch of the Presidential Communications Operations… Read More

Trade concerns continue to weigh down local markets

Trade concerns continue to weigh down local markets

September 10, 2018, 9:05 pm

MANILA -- Trade tensions overseas weighed down both the local bourse and the peso on Monday, with US President Donald Trump's threat to slap Chinese products additional tariff on top of the USD200 billion announced earlier, fuelling investors' worries. The Philippine Stock Exchange index (PSEi)… Read More

AI-based tech firm opens PH office

AI-based tech firm opens PH office

September 10, 2018, 9:04 pm

MANILA -- Singapore-based AnyMind Group, a provider of artificial intelligence (AI) solutions in advertising, marketing, and human resource (HR) industries, has opened its office in Manila -- its 13th in Asia. AnyMind Philippines Country Manager Phuong Nguyen told the Philippine News Agency in an… Read More

2019 poll could boost policy-making in PH: Fitch unit

2019 poll could boost policy-making in PH: Fitch unit

September 10, 2018, 8:26 pm

MANILA – A commentary of Fitch Solutions Macro Research said the midterm elections in the Philippines next year could boost policy-making in the country and may even be positive for the administration’s push towards federalism. According to the commentary, Senate seats are seen to be filled up… Read More

Pump prices up P0.65 per liter Tuesday

Pump prices up P0.65 per liter Tuesday

September 10, 2018, 7:54 pm

MANILA -- Prices of liquid fuels will uniformly go up by an additional PHP0.65 per liter effective 6 a.m. Tuesday, September 11. In separate announcements, local oil companies said the impending price adjustment reflects the upward movements in the international petroleum market which are being… Read More

TRAIN's contribution to oil price hikes only around 20%

TRAIN's contribution to oil price hikes only around 20%

September 10, 2018, 7:39 pm

MANILA -- Finance Assistant Secretary Tony Lambino clarified that only about 20 percent of the increase in local pump prices can be attributed to Tax Reform for Acceleration and Inclusion (TRAIN) Law. In his presentation during the launch of the Presidential Communications Operations Office (PCOO)… Read More

Rice prices to stabilize by November: DA chief

Rice prices to stabilize by November: DA chief

September 10, 2018, 7:18 pm

MANILA -- Agriculture Secretary Manny Piñol on Monday said the price of rice will stabilize by November, owing to the onset of the harvest season as well as the arrival of overdue rice imports. “Sa presyuhan (In pricing), I believe that this will stabilize. Rice prices will stabilize by… Read More

T-bill rates up, BTr partially awards 91-day paper

T-bill rates up, BTr partially awards 91-day paper

September 10, 2018, 4:31 pm

MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday as market players anticipate another increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates later this month. Average rate of the 91-day paper went up 32.4 basis points to 3.549 percent from 3.225… Read More

PISI reiterates call to ban outdated steel-making furnaces

PISI reiterates call to ban outdated steel-making furnaces

September 10, 2018, 3:06 pm

MANILA -- The Philippine Iron and Steel Institute (PISI) has reiterated its call on government to ban obsolete induction furnaces producing substandard steel bars as well as intensifying market monitoring and enforcement campaign. In a statement Monday, PISI President Roberto Cola said that the… Read More

NEDA readies measures to cushion inflation in Bicol

NEDA readies measures to cushion inflation in Bicol

September 10, 2018, 2:48 pm

LEGAZPI CITY -- National Economic and Development Authority (NEDA) officials in Bicol brushed aside gloomy prospects following a surge in inflation, saying that contingency measures are in place to cushion the effects of rising prices. Agnes Espinas Tolentino NEDA regional director in an interview… Read More

No manipulation of Aug. '18 inflation report: NEDA chief

No manipulation of Aug. '18 inflation report: NEDA chief

September 10, 2018, 8:44 am

MANILA -- Socioeconomic Planning Secretary Ernesto Pernia countered allegations that the government is manipulating inflation figures, especially the rise of the August 2018 rate to 6.4 percent. There have been talks among economists that initial report for the rate of price in the eighth month… Read More

Consumer spending outlook for Q4 improves

Consumer spending outlook for Q4 improves

September 7, 2018, 7:50 pm

MANILA -- Filipino consumers’ spending outlook on basic goods for the fourth quarter of 2018 has notably improved and this is expected to bring windfall benefits to the domestic economy. Results of the Bangko Sentral ng Pilipinas’ (BSP) Consumer Expectation Survey (CES), conducted from July… Read More

Peso stays afloat, local shares down on trade concerns

Peso stays afloat, local shares down on trade concerns

September 7, 2018, 7:44 pm

MANILA -- A host of concerns, both from overseas and in the domestic front continue to haunt Philippine equities but the peso was able to stay afloat as the week's trading came to a close on Friday. The local currency ended the week at 53.73 from 53.8 a day ago. A trader said the peso continued to… Read More

BSP to 'take strong immediate action' vs. inflation

BSP to 'take strong immediate action' vs. inflation

September 7, 2018, 7:41 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) has affirmed its readiness to “take strong immediate action using the full range of instruments in its toolkit” to address threats generated by higher-than-expected inflation, as demonstrated by its 100 basis points increase in key rates earlier… Read More

No delay in ease of doing business law IRR: DTI

No delay in ease of doing business law IRR: DTI

September 7, 2018, 7:10 pm

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez on Friday assured there will be no delay in the release of the implementing rules and regulations (IRR) of Republic Act No. 11032 or the Ease of Doing Business (EODB) and Efficient Government Service Delivery Act of 2018. Lopez… Read More

PH-Jordan ink USD60.7-M worth of deals

PH-Jordan ink USD60.7-M worth of deals

September 7, 2018, 3:14 pm

MANILA – Filipino and Jordanian firms inked some USD60.68 million worth of deals, including memorandums of agreement and letters of intent. In a statement Friday, Department of Trade and Industry Secretary Ramon Lopez said these deals are expected to yield economic cooperation between Manila… Read More

PRRD assures Jordanian investors of safe biz climate in PH

PRRD assures Jordanian investors of safe biz climate in PH

September 7, 2018, 3:10 pm

AMMAN, Jordan -- President Rodrigo Duterte assured Jordanian investors an environment conducive for business and return of investments in the Philippines as he encouraged them to come to the country."I guarantee a return of profit. There will be no corruption," Duterte said during the… Read More

Foreign investment pledges surge 70% in Q2

Foreign investment pledges surge 70% in Q2

September 7, 2018, 2:55 pm

MANILA -- Approved foreign investments by investment promotion agencies (IPAs) took a big leap upward this year, rising 70.4 percent to PHP30.94 billion in April to June from only PHP18.16 billion during the same period in 2017. Data from the Philippine Statistics Authority (PSA) showed that the… Read More