Business
GT Capital to invest up to USD200-M in Toyota Motor
June 28, 2018, 8:28 pm
MANILA -- Conglomerate GT Capital Holdings Inc. announced that it will invest up to 22.2 billion Japanese yen (USD200 million) in Japanese multinational automotive manufacturer, Toyota Motor Corporation. In a disclosure, GT Capital on Thursday said funding of the transaction will be through debt.… Read More
3.50% interest rate ‘too low’ for PH GDP growth
June 28, 2018, 8:25 pm
MANILA -- BMI Research, Fitch Group's think tank, contends that the current policy interest rates of Bangko Sentral ng Pilipinas (BSP) are still “too low” to propel the country’s gross domestic product upward. BMI Research said the BSP has to keep pace with the rising global interest rates… Read More
Gov’t eyes local projects for PPP mode
June 28, 2018, 8:20 pm
MANILA -- The government is seeking to identify various projects at the local level that can be pursued through the public-private partnership (PPP) mode, with an eye on opportunities they can create for private sector partners. Adoracion Navarro, National Economic and Development Authority (NEDA)… Read More
Gov't revenues grow 19% in January-May: DOF
June 28, 2018, 5:44 pm
MANILA -- National Government (NG) revenues rose by 19.0 percent in the first five months of 2018 as the first phase of TRAIN took effect and tax administration improvements were enhanced, almost doubling nominal GDP growth which registered 9.7 percent during the first quarter, the Department of… Read More
Non-financial corporations account for highest share in GDP
June 28, 2018, 3:37 pm
MANILA -- Non-financial corporations continued to account for the highest share in the country’s gross domestic product (GDP) at 50.4 percent last year, the Philippine Statistics Authority (PSA) reported on Thursday. The PSA said households, including non-profit institutions serving households… Read More
TRAIN revenues broadly in line with forecasts, DOF official says
June 28, 2018, 3:35 pm
MANILA -- The Tax Reform for Acceleration and Inclusion (TRAIN) law is delivering the expected revenues for the national government, an official from the Department of Finance (DOF) said. “TRAIN revenues are broadly in line with projections,” DOF Assistant Secretary Tony Lambino told the… Read More
Basic Energy forays into solar energy abroad
June 27, 2018, 8:34 pm
MANILA -- Basic Energy Corp. (BEC) has signed deals for the purchase of 15-percent stakes in Thailand-based engineering, procurement and construction (EPC) firms, marking its foray into solar energy projects abroad. In a disclosure, BEC on Wednesday said it recently signed share purchase… Read More
Q2 GDP growth seen at 7%
June 27, 2018, 7:57 pm
MANILA -- The Philippine economy is expected to accelerate at least 7 percent in the second quarter of the year spurred on by the surge in infrastructure spending, manufacturing output and tax revenues, analysts at First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P)… Read More
Term deposit facilities fetch higher rates
June 27, 2018, 7:55 pm
MANILA -- All three tenors of the term deposit facility (TDF) offered by the Bangko Sentral ng Pilipinas (BSP) fetched higher rates on Wednesday’s auction. The seven-day TDF offered at PHP40 billion has a weighted average yield of 3.7523 percent from the previous auction, which stood at 3.6927… Read More
Infra program to contribute P31-T to PH economy
June 27, 2018, 5:32 pm
MANILA -- The government’s massive infrastructure program can contribute as much as PHP31.2 trillion to the economy over the next five years, according to the National Economic and Development Authority (NEDA). NEDA Assistant Secretary for Investment Programming Jonathan Uy told reporters on… Read More
Warning labels on sugary drinks may start by August
June 27, 2018, 4:45 pm
MANILA -- Trade and industry Secretary Ramon Lopez said government may begin requiring manufacturers or traders to put warning labels on high sugar content beverages as early as August this year. On the sidelines of Department of Trade and Industry’s (DTI) workshop for small and medium… Read More
BMI outlook: 54:USD1 at end-2018
June 27, 2018, 3:56 pm
MANILA -- The Philippine peso will end the year at PHP54 to a US dollar, Fitch Group’s research arm forecasts. BMI Research reported Wednesday that the outlook for the Philippine peso is weaker compared to its previous projection of PHP51 to a dollar for 2018. The think tank also adjusted its… Read More
DBM: 143 cities seek funding for Green Green Green projects
June 27, 2018, 3:03 pm
MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno said on Wednesday that local government units (LGUs) representing 143 cities have expressed interest in securing funding from the national government under the Green Green Green assistance program. During the Breakfast… Read More
SSS Palawan ups collection in Q1
June 27, 2018, 2:59 pm
PUERTO PRINCESA CITY, Palawan -- The Social Security System’s (SSS) branch here reported Tuesday that it has collected PHP98.29 million in contributions for the first quarter of the year. Atty. Emmanuel Dooc, president and chief executive officer of the SSS, said the amount represented a… Read More
DICT releases guidelines for new telco player
June 27, 2018, 2:12 pm
MANILA -- The elusive third player in the local telecommunications industry must first have an annual capital and operating expenditures worth PHP40 billion, must have coverage of at least 30 percent of the national population and a minimum average broadband speed of 5 megabits per second (Mbps),… Read More
Oriental Peninsula diversifies into renewable energy
June 26, 2018, 9:01 pm
MANILA -- Oriental Peninsula Resources Group, Inc. (ORE) is acquiring almost a third of a renewable energy company that is majority owned by its affiliate, as it diversifies its investment portfolio by adding power generation to its existing mining business. Oriental Peninsula said in a disclosure… Read More
FNI prices follow-on offering at P2.07/share
June 26, 2018, 8:45 pm
MANILA -- Global Ferronickel Holdings, Inc. (FNI) has priced its follow-on offering at PHP2.07 per share to raise PHP517.5 million from the sale of primary shares. In a disclosure to the Philippine Stock Exchange, FNI said the offering involves 250 million primary shares. The company said the… Read More
Peso depreciation can cut PH trade deficit
June 26, 2018, 8:39 pm
MANILA -- The depreciation of the peso against the US dollar can reduce the country’s trade deficit over the medium term, the First Metro Investment Corporation (FMIC) and University of Asia & the Pacific (UA&P) said on Tuesday. It was noted that the peso’s weakness has positive effects for… Read More
Peso continues slide but local bourse breaks losing streak
June 26, 2018, 8:21 pm
MANILA -- The Philippine stock market closed Tuesday on a positive note to end the eight-day losing streak but the Philippine peso continued to slide against the US dollar. The local currency finished the day’s trade 3 centavos lower at 53.47 from the previous session’s 53.44. It opened the… Read More
EMEAP central banks to launch PAIF securities lending
June 26, 2018, 7:54 pm
MANILA -- The Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) 2 announced on Tuesday the launch of securities lending in the Asian Bond Fund (ABF) 3 Pan-Asia Bond Index Fund (PAIF) 4. Effective July 10, selected local currency-denominated bonds held within PAIF will be made… Read More
