PSEi ends week slightly up; peso stays almost flat vs. USD

MANILA --The Philippine Stock Exchange index (PSEi) rose slightly on Friday as the peso stayed firm after investors stayed at the sidelines ahead of the release later in the day of US’s December 2017 inflation report.PSEi ended the day at 8,814.62 points, up 0.02 percent or 1.37 percent from... Read More

BOI eyes perks for biz investing in Marawi

MANILA -- The Board of Investments (BOI) aims to give incentives to businesses investing in Marawi City by listing the former war-torn zone under the Less Developed Areas (LDA) of the Investment Priorities Plan (IPP).BOI on Friday said that the inclusion of Marawi City in the LDA will help in... Read More

BPI-AMTC exec sees inflation within 2018 goal

MANILA - - An official of BPI Asset Management and Trust Corp. discounts breaching of the government’s two to four percent inflation target this year even with the impact of the tax reform.In an interview, Carlos Jalandoni, BPI Asset Management and Trust Corp. vice president and head of... Read More

Gov’t provides shared service facilities to over 200K MSMEs

MANILA -- Some 215,678 existing and potential micro, small, and medium enterprises (MSMEs) throughout the country have benefitted from the Shared Service Facility (SSF) Program of the Department of Trade and Industry (DTI).DTI Regional Operations Group (ROG) reported Thursday that the government has... Read More

BSP addressing BDO card fraud cases

MANILA -- The Bangko Sentral ng Pilipinas (BSP) has allayed fears of some BDO Unibank Inc. (BDO) clients who reported loss of money from online transactions they allegedly did not conduct personally.BSP Deputy Governor Chuchi Fonacier said officials of BDO have reported to the central bank about the... Read More

Exporters optimistic to sustain revenue growth in 2018

MANILA -- The Philippine Exporters Confederation, Inc. (Philexport), the umbrella organization of exporters in the country, expressed optimism that the sector's positive growth in 2017 could be sustained this year.This is despite export revenues in November 2017 recording its slowest growth last... Read More

NLEX Corp. to spend P19-B for projects to help solve traffic

MANILA -- NLEX Corp., a unit of the Metro Pacific Group, earmarks about PHP19 billion in capital expenditures this year to begin the construction of projects that are expected to help solve Metro Manila’s daily traffic congestion.The tollway company told the local bourse the capital spending... Read More

Big Boss Cement to spend P2-B for expansion

MANILA -- New local cement player, Big Boss Cement Inc. (BBCI), targets to spend around PHP2 billion for expansion of its manufacturing plant in Porac, Pampanga in its bid to increase production capacity to meet the country’s growing demand for cement.BBCI President Engr. Gilbert Cruz told... Read More

Construction materials’ wholesale price index in NCR eases in Dec ‘17

MANILA – The wholesale price index of construction materials in the National Capital Region (NCR) eased last December, compared to the previous month.Data released by the Philippine Statistics Authority (PSA) Thursday showed that the wholesale price index of construction materials last month... Read More

Interest rate hikes may impact on PH banks' operations

MANILA -- BMI Research forecasts the sustained robust operations of Philippines banks but flagged the risk of rising interest rates, citing that this might impact on financial stability.In a study, the research arm of Fitch Group took on a “neutral view” on the country’s banking... Read More

Shakey’s to open 20 new stores in 2018

MANILA -- Listed pizza chain Shakey’s Pizza Asia Ventures Inc. on Thursday said it plans to open 20 new stores in 2018, bringing its total store network to 228 at the end of the year, as part of a continued drive to expand its footprint across the country.“We will continue to take... Read More

MDI calls for digital transformation

MANILA -- A Philippine-based information and communications technology solutions provider urges entrepreneurs to embrace digital transformation to maximize the advantages of new technologies to their business operations.Micro-D International, Inc. (MDI) Chief Executive Officer Myla Villanueva said... Read More

Pernia sees recovery of manufacturing output this year

MANILA -- The country’s chief economist on Wednesday expressed optimism on the recovery of manufacturing production this year following three consecutive months of decline since September 2017.In its latest Monthly Integrated Survey of Selected Industries (MISSI), the Philippines Statistics... Read More

PLDT digital unit eyes partnership with foreign firm

MANILA -- Telecommunications firm PLDT Inc.'s digital unit Voyager Innovation is pursuing a partnership with a foreign firm within the year as part of efforts to further improve the delivery of digital services to its subscribers.This comes as the company prepares for the entry of a third major... Read More

PSEi ends Wednesday flat; peso weakens on rising US interest rates

MANILA - - Prospects for sustained economic growth bouyed the Philippine Stock Exchanged index (PSEi) Wednesday amid lower trading in most of the day while rising US interest rates backed the US dollar and resulted in further weakening of the peso.PSEi ended flat at 8,920.29 points, 3.43 points,or... Read More

DBM wants 3rd-party study on proposed teachers' pay hike

MANILA -- Budget and Management Secretary Benjamin Diokno on Wednesday said a study would be conducted on the proposed doubling of salaries of the about 600,000 public school teachers, citing that this would need about PHP500 billion.He said the Duterte administration’s priority was to... Read More

Bidders for Marawi City rehab to be announced mid-January –Diokno

MANILA - - The government is set to announce on Jan. 15 the entities that submitted proposals to help fund the rehabilitation of Marawi City.Budget and Management Secretary Benjamin Diokno on Wednesday bared this after noting the current administration’s decision to consider as a financing... Read More

TDF rates down this week

MANILA - - Rate of the Bangko Sentral ng Pilipinas’ (BSP) seven-day Term Deposit Facility (TDF) went down Wednesday on back of strong demand from banks.Data released by the central bank showed that weighted average accepted yield of the facility declined to 3.2223 percent from 3.3654 percent... Read More

Trade deficit widens to USD3.78-B in November

MANILA -- The country’s trade deficit widened to USD3.78 billion in November 2017 as imports continue to outpace exports due to higher shipments of raw materials and intermediate goods and capital goods, the Philippine Statistics Authority (PSA) reported on Wednesday. The PSA said imports... Read More

Factory output down in November

MANILA -- Factory output for November 2017 dropped by 8.1 percent, recording a three straight month of decline since September 2017, the Philippine Statistics Authority (PSA) reported Wednesday..PSA Manufacturing Integrated Survey of Selected Industries (MISSI) showed volume of production index... Read More