Business

15 Danish firms in town seeking biz opportunities

15 Danish firms in town seeking biz opportunities

May 11, 2018, 3:40 pm

MANILA -- Fifteen companies from Denmark are seeking to find business opportunities in the country particularly in sectors of food, healthcare, utilities, and counseling and investment services. Danish Minister for Industry, Business and Financial Affairs Brian Mikkelsen is personally leading the… Read More

Economists expect another policy rate hike this year

Economists expect another policy rate hike this year

May 11, 2018, 3:38 pm

MANILA -- Economists say that the Bangko Sentral ng Pilipinas (BSP) is likely to hike policy interest rates again within the year, should current inflation pressures remain. In a report, ING Bank Manila Senior Economist Joey Cuyegkeng said another key policy rate hike is likely to happen sometime… Read More

PH likely to sustain growth, stakeholders agree

PH likely to sustain growth, stakeholders agree

May 10, 2018, 9:39 pm

MANILA -- Stakeholders from the government and the private sector agree that recent economic advancements are sustainable and that the targeted gross domestic product (GDP) growth this year of 7 percent to 8 percent is attainable, if inflationary and labor issues are resolved. In a statement… Read More

Vista Land Q1 profit up 13%

Vista Land Q1 profit up 13%

May 10, 2018, 8:53 pm

MANILA -- Property developer Vista Land & Lifescapes Inc. (VLL) expects to sustain its solid growth momentum for the rest of the year on the back of more product launches, after posting a 13-percent growth in net income in the first quarter. “If we can maintain this pace, I think we will have… Read More

BSP raises policy rate, inflation outlook

BSP raises policy rate, inflation outlook

May 10, 2018, 8:00 pm

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. announced to no one's surprise on Thursday that the Monetary Board (MB) has raised policy interest rates by 25 basis points -- the first upward adjustment of key rates since September 2014. In a press briefing after a… Read More

PLDT vows to sustain profitability after strong Q1 performance

PLDT vows to sustain profitability after strong Q1 performance

May 10, 2018, 7:54 pm

MANILA -- Local telecommunications giant PLDT Inc. has vowed to exert all efforts to sustain its profitability after it posted a significant increase in income during the year's first quarter, spurred forward by the growth of its wireless businesses. This, as the telco’s net income has reached… Read More

GDP grows 6.8% in Q1, still among Asia’s fastest

GDP grows 6.8% in Q1, still among Asia’s fastest

May 10, 2018, 7:06 pm

MANILA -- The Philippine economy expanded by 6.8 percent in the first quarter of 2018, making it still one of the fastest-growing economies in the region even as rising inflation reduced consumption and productivity in some sectors. The Philippine economic growth during the period followed… Read More

 Peso climbs, local stocks rise

Peso climbs, local stocks rise

May 10, 2018, 7:03 pm

MANILA -- The Philippine peso improved against the greenback as the local stock market swung back to positive territory on Thursday after news broke of the country's economy shooting up to a confidence-inspiring 6.8 percent in the first quarter of 2018. The main-share Philippine Stock Exchange… Read More

SMC nets P19.4-B in Q1

SMC nets P19.4-B in Q1

May 10, 2018, 6:46 pm

MANILA -- Diversified conglomerate San Miguel Corp. (SMC) began 2018 strong, posting a consolidated recurring net income of PHP19.4 billion, 31 percent higher than the same period last year, powered by the robust performance of all its businesses. Revenues and operating income reached PHP234.3… Read More

FDI net inflows up 46% in February

FDI net inflows up 46% in February

May 10, 2018, 4:37 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) reported Thursday that foreign direct investment (FDI) net inflows in February this year jumped to USD573 million, or an increase of 46.4 percent compared to the same month in 2017. BSP noted that increment in FDI net inflows was driven by strong… Read More

PH GDP expands 6.8% in Q1

PH GDP expands 6.8% in Q1

May 10, 2018, 10:57 am

MANILA -- The Philippine economy expanded 6.8 percent in the first quarter of 2018, slightly lower than the full-year growth target but remained among the fastest in Asia, the National Economic and Development Authority (NEDA) reported on Thursday. The January-to-March quarter gross domestic… Read More

Globe launches online tutorial for entrepreneurs

Globe launches online tutorial for entrepreneurs

May 9, 2018, 9:05 pm

 MANILA -- Globe Telecom launched on Wednesday an online entrepreneurship website that aims to provide lessons on business management through the testimonials of various industry experts.  The website called Globe myBusiness Academy Online, was created to reach out to entrepreneurs across the… Read More

Max’s Group shifts focus on franchising for expansion

Max’s Group shifts focus on franchising for expansion

May 9, 2018, 9:02 pm

MANILA -- Max’s Group, Inc. (MGI) touted as the country’s leading casual dining chain, has reduced its capital expenditures (capex) to PHP600 million for 2018, as it refocuses its efforts to franchising for expansion to sustain double-digit growth. The company spent PHP800 million in capex… Read More

Peso slips back to P52-level, local stocks fall

Peso slips back to P52-level, local stocks fall

May 9, 2018, 6:31 pm

MANILA -- The country's financial and capital markets failed to sustain Tuesday's gains as they retreated anew into negative territory. This, as the Philippine peso slipped back to the PHP52-level against the greenback while local shares were subdued on Wednesday. The peso shed around 17 centavos… Read More

No extra charge for subscribers who opt to be billed on paper: NTC

No extra charge for subscribers who opt to be billed on paper: NTC

May 9, 2018, 6:28 pm

MANILA -- The National Telecommunications Commission (NTC) has ordered telecommunications firms not to charge additional fees on subscribers who still opt to receive their bills on paper. This as NTC has released Wednesday its guidelines which seeks to implement electronic billing in the country.… Read More

Gov't workers to get mid-year bonus by May 15: DBM

Gov't workers to get mid-year bonus by May 15: DBM

May 9, 2018, 2:26 pm

MANILA -- Government workers will receive their 2018 mid-year bonus equivalent to one month basic salary starting May 15, the Department of Budget and Management (DBM) announced on Wednesday. In a statement, DBM Secretary Benjamin Diokno said a total of PHP36.2 billion has been allocated for the… Read More

Transport infra key to unlocking inclusive growth: Fitch think tank

Transport infra key to unlocking inclusive growth: Fitch think tank

May 9, 2018, 2:23 pm

MANILA -- The Fitch Group's think tank arm, BMI Research, is seeing potential projects in transport infrastructure to help the government address poverty and achieve its goal of inclusive growth. A study by BMI Research released Wednesday showed that the country’s transport infrastructure is… Read More

DOE vows faster processing of key energy projects

DOE vows faster processing of key energy projects

May 8, 2018, 10:31 pm

MANILA – The Department of Energy (DOE) on Tuesday vowed to expedite the processing of papers related to major energy projects. The DOE announced that the Implementing Rules and Regulations (IRR) of EO 30 signed by President Rodrigo Duterte in June 2017 was published in major newspapers last May… Read More

DOE to demand greater transparency from oil firms

DOE to demand greater transparency from oil firms

May 8, 2018, 10:20 pm

MANILA – Local oil companies will be constrained to provide more detailed explanations regarding price adjustments when the Department of Energy (DOE) begins enforcing a new policy demanding greater transparency from the petroleum industry. The DOE made this announcement on Tuesday saying that… Read More

Ayala Land earnings up 17% in Q1

Ayala Land earnings up 17% in Q1

May 8, 2018, 10:12 pm

MANILA – Ayala Land Inc. (ALI) grew its net income to PHP6.52 billion in the first quarter of 2018, up 17 percent from the same period in 2017. Total revenues also increased by 17 percent to PHP36.98 billion due to the substantial growth of property development and the sustained performance of… Read More