Business
Local markets up due partly to BSP rate hike
November 15, 2018, 8:01 pm
MANILA -- Philippines’ main equities gauge rose for the second consecutive day ahead of Bangko Sentral ng Pilipinas’ (BSP) announcement on its latest policy rate decision, while the peso also regained lost ground, reverting to the 52-level against the greenback on Thursday's session. The… Read More
GT Capital posts flat profit growth in Jan.-Sept.
November 15, 2018, 7:55 pm
MANILA -- Top management of GT Capital Holdings Inc. remains confident that it is on track to achieve single-digit profit growth this year, driven by strong growth of financial services, property and insurance segments. This, even after the conglomerate posted flat net income at PHP11 billion from… Read More
Monetary Board adjusts average inflation forecasts
November 15, 2018, 7:27 pm
MANILA -- Average inflation forecasts for 2018-20 were raised after the Monetary Board (MB) took stock of more recent economic developments both here and abroad. The Bangko Sentral ng Pilipinas (BSP) made this announcement alongside the additional raising of its key rates by an additional 25 basis… Read More
BSP hikes rates by an additional 25 bps
November 15, 2018, 6:37 pm
MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Thursday hiked key policy rates by an additional 25 basis points despite recent numbers indicating that inflation has steadied. This was the fifth increase this year, bringing rates to its highest level since… Read More
MLM firm banking on health-consciousness boom
November 15, 2018, 5:25 pm
MANILA -- QDynamics Global Corp., a Filipino multilevel marketing (MLM) company, is banking on the growing number of health-conscious consumers in the country, as it expands its product line. On Thursday, QDynamics President and Chief Executive Officer Delia Maceda said the company is launching… Read More
Moody’s affirms BPI’s credit ratings
November 15, 2018, 4:23 pm
MANILA -- The Bank of the Philippine Island’s (BPI) Baa2 rating with Stable outlook was affirmed by Moody’s Investors Service on Thursday, citing that the bank’s deposit rating is underpinned by its baseline credit assessment (BCA). These ratings cover the Ayala-led bank’s local and… Read More
Prime Water wins as New Clark City water supplier
November 15, 2018, 3:54 pm
MANILA -- The Bases Conversion and Development Authority (BCDA) on Thursday named a Filipino-Israeli consortium as the winning bidder for New Clark City's water supply services. In a statement, BCDA said the consortium of Prime Water Infrastructure Corp. with PAVI, MGS Construction, Inc., and… Read More
Globe’s mobile data traffic up 49% in Jan.-Sept.
November 14, 2018, 8:42 pm
MANILA -- Mobile data traffic of Globe Telecom surged by 49 percent to 641 petabytes for the first nine months of the year as its LTE coverage reached up to 90 percent of cities and municipalities nationwide. In a statement on Wednesday, Globe said that it has deployed around 12,000 LTE sites by… Read More
Proposed El Nido, Coron closure needs careful study: PCCI
November 14, 2018, 8:11 pm
MANILA -- The Philippine Chamber of Commerce and Industry (PCCI) urged the government to take a long, hard look at the proposed closure of El Nido and Coron in Palawan to tourists, taking note of how such a move would impact local enterprises, as well as employment. The PCCI said the national… Read More
DOF to push for reinclusion of removed Package 1B provisions
November 14, 2018, 8:10 pm
MANILA -- The Department of Finance (DOF) vowed to exhaust all means to reinclude the provisions on exchange of information, as well as on bank secrecy, in the proposed Package 1B of the tax reform measure, to give the government more teeth in pursuing tax cheats. This, after reports circulated… Read More
Banana exporters set plans to secure markets, find new ones
November 14, 2018, 7:27 pm
MANILA -- The banana industry has taken the initiative to secure its share in traditional overseas markets and explore new ones for the country’s top fruit export. Key exporters are set to hold dialogues with their respective business counterparts, as well as government officials abroad, in a… Read More
Local shares recover, Peso stays still
November 14, 2018, 7:24 pm
MANILA -- The Philippine Stock Exchange index (PSEi) on Wednesday ended its three-day slide, lifted by encouraging earnings in the local bourse, while the peso was almost unchanged against the greenback. PSEi gained 1.16 percent, or 79.25 points, to 6,923.08 points, which Bank of the Philippine… Read More
SMFB posts double-digit sales, profit growth
November 14, 2018, 7:21 pm
MANILA -- San Miguel Food and Beverage, Inc. (SMFB), the food and beverage flagship of San Miguel Corporation (SMC), continued its robust growth in the nine-month period up to September 30, 2018. Consolidated sales increased 15 percent to PHP206.6 billion with revenue growth accelerating across… Read More
Suspension of oil excise tax hike to push through: Diokno
November 14, 2018, 6:11 pm
MANILA -- Budget and Management Secretary Benjamin Diokno on Wednesday said the implementation of an additional PHP2 per liter increase in oil excise taxes scheduled for 2019 is definitely suspended. In a briefing, he said the Office of the Executive Secretary has informed him that the proposal of… Read More
Smart activates 5G cell sites in Makati, Clark
November 14, 2018, 6:01 pm
MANILA -- PLDT and its wireless subsidiary Smart Communications announced that its first cell sites with fifth generation technology (5G) capability have been made operational in Makati City and Clark Freeport Zone in Pampanga as part of its efforts to deliver fast and affordable mobile services.… Read More
IBPAP to overhaul roadmap
November 14, 2018, 5:57 pm
MANILA -- The Information Technology (IT) and Business Process Association of the Philippines (IBPAP) seeks to establish a new industry roadmap by the first quarter of 2019, in a bid to recalibrate its targets to stay relevant in an ever-changing business environment. IBPAP President and Chief… Read More
Alliance Global nets P18.6B in 9 months
November 14, 2018, 5:07 pm
MANILA -- Alliance Global Group, Inc. (AGI), the investment holding company of tycoon Dr. Andrew L. Tan, booked a 23-percent increase in net income in the first nine months of 2018, driven mainly by its real estate and liquor businesses. AGI on Wednesday reported to the local bourse its… Read More
DICT did not favor Mislatel: Rio
November 14, 2018, 5:06 pm
MANILA -- The Department of Information and Communications Technology (DICT) stressed that it did not give undue favor to Misaltel Consortium in its decision to provisionally award it the third telco slot. Mislatel, a joint venture of Udenna Corporation and China Telecom, won the bidding by… Read More
Rise in TDF rates sustained
November 14, 2018, 3:53 pm
MANILA -- The rates of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) continued to rise even while apprehensions generated by recent developments in the economic front, particularly overseas, led to undersubscription. Data released by the central bank showed that the rate of the… Read More
NTC junks MRs of Sear Telecom, PT&T
November 14, 2018, 9:28 am
MANILA -- The selection committee of the National Telecommunications Commission (NTC) has denied the motions for reconsideration filed by Sear Telecommunications and Philippine Telephone and Telegraph Corporation (PT&T) on the disqualifications of their bids for the new telco player slot. The… Read More
