Investors’ confidence remains high despite TRAIN law: Lopez

MANILA -- Trade Secretary Ramon Lopez said confidence of investors in the country remains high even with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act this year.In an interview on Radyo Pilipinas’ Cabinet Report sa Teleradyo with Presidential Communications... Read More

Bukidnon power coops unfazed by coal tax hike

MANILA-- Two power cooperatives in Bukidnon, the First Bukidnon Electric Cooperative (Fibeco) and the Bukidnon Second Electric Cooperative (Buseco), are unfazed by the recent imposition of higher taxes on coal.The National Electrification Administration (NEA) observed that investing in a... Read More

Globe sets USD850-M capex for 2018

MANILA -- Globe Telecom will be allocating USD850 million for its capital expenditure this year as it continues to expand its data network amid the rising demand for mobile data services and online streaming content.The financing is in line with its vision to improve internet services in the country... Read More

Biz registration in Zamboanga Sur up by 64%

PAGADIAN CITY, Zamboanga del Sur -- The Department of Trade and Industry (DTI) announced that there was sharp increase in new businesses in 2017 in this province.DTI Provincial Director Maria Socorro Atay on Friday said the Business Name Registration (BNR) in 2017 reached 2,962, which is 64 percent... Read More

PSEi seen to hit 11,000 pts this year

MANILA -- Brokerage firm Philstocks Financial Inc. expects the benchmark Philippine Stock Exchange index (PSEi) to soar to a new record high of 10,700 to 11,000 points this year, as the tax reform program further drives the country’s economic growth.Philstocks Financial senior equity analyst... Read More

PSEi sustains rise; peso ends sideways vs. USD

MANILA -- The Philippine Stock Exchange index (PSEi) sustained its rally Friday but the peso closed the week sideways partly due to investors’ profit-taking.PSEI gained 0.35 percent, or 30.17 points, to finish the week at 8.770.00 points.The broader All Shares went up 0.33 percent, or 16.57... Read More

SB Corp. releases microfund for Marawi entrepreneurs

MANILA -- Small Business (SB) Corp., the financing arm of the Department of Trade and Industry (DTI), has released microloans for entrepreneurs affected by clashes in Marawi City, through the agency’s Pondo sa Pagbabago at Pag-asenso or P3.DTI said Friday over PHP250,000 from P3 fund were... Read More

Economists differ on TRAIN’s impact on inflation rate

MANILA - - Economists are divided on the possible impact of the first tax reform package on Philippines’ inflation rate this 2018, with some saying the effect will be limited while some raised the possibility of breaching of the target.BPI lead economist Jun Neri, in a Tweet Friday said:... Read More

Japan’s Hotel Okura to open luxury hotel in PH

MANILA -- Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), has sealed a deal with Japanese hospitality chain, Hotel Okura Co., Ltd. (Okura), to operate a 191-room luxury hotel targeted for soft opening by the fourth quarter of the year.The Hotel... Read More

BSP chief forecasts sustained manageable inflation in the near term

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. is confident of within-target inflation in the near term after the December 2017 inflation was steady at 3.3 percent, bringing the average rate this year to 3.2 percent.Data released by the Philippine Statistics Authority... Read More

TRAIN law has minimal impact on prices of goods: DTI

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez has dismissed fears of consumers on impact of the Tax Reform for Acceleration and Inclusion (TRAIN) Act to prices of basic goods.Lopez said in a press conference Thursday that the new tax law imposing excise tax on petroleum... Read More

PSEi surges anew; peso slightly down

MANILA - - The Philippines’ main equities index sustained improvement on Thursday while the peso displays a little change as investors continue to have positive outlook of the domestic economy.The Philippine Stock Exchange index (PSEi) rose 0.18 percent, or 15.70 points, to 8,739.83 points,... Read More

BIR, BOC post strong revenues in 2017

MANILA - - Both the Bureau of the Internal Revenue (BIR) and the Bureau of Customs (BOC) posted double digit growth in their collections in 2017.Citing Bureau of the Treasury (BTr) data, Finance Secretary Carlos Dominguez III, in a message to reporters Thursday, said indicative collections of the... Read More

PH stock mart seen to hit new high of 9,400 pts in 2018

MANILA -- The stock market is forecast to trend new level high of 9,400 points this year as positive economic outlook boosts corporate earnings, said the investment banking arm of the Metrobank Group.First Metro Investment Corp. (FMIC) also projected earnings per share (EPS) growing 10 percent in... Read More

D&L Group unit gets PEZA registration

MANILA – Natura Aeropack Corp. (NAC), a subsidiary of listed D&L Group, on Thursday received registration approval from the Philippine Economic Zone Authority (PEZA) for its new manufacturing facility in Tanauan, Batangas.The manufacturer of specialty foods ingredients told the local... Read More

FMIC exec sees higher inflation this year

MANILA - - Philippines’ inflation rate is seen to hit the upper end of the government’s two to four percent target this 2018 but officials of the First Metro Investment Corp. (FMIC) do not consider this a bad thing given the expected sustained strengthening of the economy. In a briefing... Read More

FMIC exec welcomes possibility of 3rd TDF tenor

MANILA -- An official of First Metro Investment Corp. (FMIC) welcomes the news about the possibility of the central bank introducing a third Term Deposit Facility (TDF) tenor, citing that this will be an additional option for banks to temporarily keep their excess funds. In an interview, FMIC Senior... Read More

Increased infra spending to boost GDP growth to 7.5% this year

MANILA -- The Philippines is expected to remain the best performing economy in the region expanding by 7 to 7.5 percent in 2018, on the back of massive infrastructure spending, said the investment banking arm of the Metrobank Group.“The infrastructure spending is quite crucial in the faster... Read More

DTI bolsters market monitoring with TRAIN law implementation

MANILA -- The Department of Trade and Industry (DTI) assures the market of its strengthened monitoring as the new tax law took effect on New Year’s Day.In a press conference Thursday, DTI Secretary Ramon Lopez said the agency has deployed several monitoring teams in Metro Manila and also... Read More

PEZA urges firms to hike local sourcing of raw materials

MANILA -- The Philippine Economic Zone Authority (PEZA) has urged its registered firms to increase local sourcing of their raw materials.PEZA Director General Charito Plaza said the agency eyes for a “reverse trade fair” this year, where importation of PEZA-registered companies would be... Read More