Business
PH gov’t woos Japanese investors
June 19, 2018, 4:52 pm
MANILA – The Duterte administration's top economic managers are vigorously courting Japanese businessmen to take part in the country's massive infrastructure push as well as in its vibrant manufacturing sector amid an economy that is growing by leaps and bounds. In his speech during the… Read More
Building materials inflation in NCR remains at 2.6%
June 19, 2018, 4:41 pm
MANILA -- The increase in retail prices of construction materials in Metro Manila remained at 2.6 percent in May 2018, the Philippine Statistics Authority (PSA) reported on Tuesday. The PSA stated that the construction materials retail price index (CMRPI) in the National Capital Region (NCR)… Read More
PH mulls issuance of USD1-B 'Samurai' bond this year: Dominguez
June 19, 2018, 3:31 pm
TOKYO -- Finance Secretary Carlos Dominguez III confirmed here Tuesday that the Philippines is planning to issue about USD1 billion-worth of “Samurai” bonds this year following its two successful floats of dollar- and renminbi-denominated securities in the offshore markets in the first quarter… Read More
Romblon rural bank ex-chair convicted for faking deposits
June 19, 2018, 3:24 pm
MANILA -- Angeles R. Robis, former Chairman of the Board of Directors and President of the closed Rural Bank of Cajidiocan (Romblon), Inc. (RBCI), was found guilty beyond reasonable doubt on three counts of Violation of Section 26 of Republic Act No. 7353 (The Rural Banks Act of 1992) in a… Read More
NEDA: PH must reap labor gains from 'Build, Build, Build'
June 18, 2018, 8:08 pm
MANILA -- With the expected effect of the government’s unprecedented “Build, Build, Build” program on the country’s labor demand, the government must ensure that laborers’ skills and competencies match industry needs, the National Economic and Development Authority (NEDA) said. “To… Read More
MPIC logistics unit to spend P8-B on warehouse space, equipment
June 18, 2018, 8:05 pm
MANILA -- Logistics firm Metropac Movers Inc. (MMI) will spend over PHP8 billion to develop a property it is acquiring in General Trias, Cavite into a massive warehousing facility in a bid to enhance efficiency in transportation of goods in the country. The wholly-owned subsidiary of… Read More
Wilcon Depot ramps up expansion with P4.6-B investment
June 18, 2018, 8:03 pm
MANILA -- Home improvement and construction supply retailer Wilcon Depot Inc. is investing PHP4.6 billion over the next three years to ramp up the expansion of its network across the country in support of its continued growth amid a robust economy and government’s infrastructure push. Wilcon… Read More
Prices of petroleum products to go up Tuesday
June 18, 2018, 7:24 pm
MANILA -- After two consecutive rollbacks, local oil firms announced that pump prices will be going the opposite direction on Tuesday, June 19. The managements of Petron Corporation, Pilipinas Shell, Jetti Petroleum Inc., Flying V, TOTAL, Seaoil, Phoenix Petroleum and PTT Philippines said that a… Read More
Expert urges enhanced transparency in investments
June 18, 2018, 7:17 pm
MANILA -- There is a need to improve the information content of the country's foreign investment negative list (FINL) in order to provide potential investors with a clearer perspective of the local business climate, which in-turn, is expected to attract foreign direct investment (FDI), a… Read More
Peso, local stocks plummet anew
June 18, 2018, 6:12 pm
MANILA – The Philippine peso extended its decline for the sixth consecutive trading day, while the local bourse continued its losing streak as it fell back to the 7,400-zone on Monday. The local unit dropped to 53.48, losing 21 centavos from its previous finish of 53.27. This was the lowest… Read More
Remittances rebound in April
June 18, 2018, 6:11 pm
MANILA -- As expected by the market, remittances in April made a positive turnaround after declining in March, when there were fewer banking days due to the Holy Week holidays. Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. reported Monday that personal remittances in April this… Read More
BTr raises P8.4-B from T-bills bid
June 18, 2018, 6:05 pm
MANILA -- The Bureau of Treasury (BTr) managed to raise PHP8.4 billion for the national government from the PHP15-billion Treasury bills (T-bills) auction on Monday. The BTr fully awarded the 182-day debt paper at 3.766 percent yield. The 182-day T-bill was offered at PHP4 billion. This fetched a… Read More
BSP: Personal remittances in January-April hit USD10.4-B
June 18, 2018, 4:54 pm
MANILA -- Personal remittances from Overseas Filipinos (OFs) increased by 12.9 percent year-on-year to reach USD2.6 billion in April 2018. On a cumulative basis, personal remittances for the first four months of the year totaled USD10.4 billion, four percent higher than the level recorded in the… Read More
RCBC unit pilots digital lending in Mindanao
June 17, 2018, 5:52 pm
MANILA -- Rizal Microbank, a subsidiary of Rizal Commercial Banking Corp. (RCBC), is testing its digital lending among corn farmers in Mindanao, and will soon further expand the financial product in other parts of the country. In a media roundtable, Rizal Microbank President Raymundo Roxas said… Read More
'Big 3' rolls back oil prices in Baguio City
June 16, 2018, 7:57 am
BAGUIO CITY -- The so-called "Big 3" oil companies -- Shell, Petron and Caltex -- have cut pump prices of petroleum products in the city by as much as PHP2 to PHP6 per liter for diesel and gasoline, respectively, Congressman Mark Go told media on Friday. "They lowered the price of diesel by PHP2… Read More
Makati-Taguig Skytrain project seen to begin in 2019
June 15, 2018, 8:13 pm
MANILA -- Infracorp Development, Inc., the infrastructure subsidiary of Andrew Tan’s Alliance Global Group Inc. (AGI), has expressed eagerness to start construction of its proposed 2-km. Makati-Taguig skytrain monorail project early next year. “The project is now at NEDA (National Economic and… Read More
Pay hike for workers in ARMM, Eastern Visayas approved
June 15, 2018, 5:17 pm
MANILA -- The Regional Tripartite Wages and Productivity Boards (RTWPB) representing the Autonomous Region in Muslim Mindanao (ARMM) and Eastern Visayas have approved upward adjustments in the pay of minimum wage earners in the two regions. Based on Wage Order No. ARMM-17, effective Friday (June… Read More
Senior citizens' group seeks SSS pension loan
June 15, 2018, 3:02 pm
MANILA -- A senior citizens' organization on Thursday called on the Social Security System (SSS) to heed the clamor of pensioners for a pension loan designed especially for the needs of the elderly and other retirees. “We urge SSS to provide pension loans to help us in our present financial… Read More
External debt indicators continued to improve in Q1: Espenilla
June 15, 2018, 2:32 pm
MANILA -- Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. announced that the Philippines' outstanding external debt stood at US$73.2 billion as of end-March 2018, marginally higher (by US$98 million or 0.1 percent) than the end-2017 level of US$73.1 billion. The slight increase in… Read More
BSP revises 2018 BOP deficit upward to USD1.5-B
June 15, 2018, 10:52 am
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has revised its balance of payments (BOP) forecasts for this year, seeing higher deficit of USD1.5 billion from its initial projection of USD1 billion. In a statement, the BSP said even with the upward revision of deficit outlook, this remains a… Read More
