Business

BIR exceeds collection target for January-May 2018

BIR exceeds collection target for January-May 2018

June 13, 2018, 4:18 pm

MANILA -- For the first five months of the year, the Bureau of Internal Revenue (BIR) collected PHP827.91 billion. This is PHP24.91 billion more or 3.10 percent higher than the goal of PHP803 billion set for the period. Likewise, the BIR posted a growth rate of 14.76 percent or an increase of… Read More

Lopez bats for ‘drastic change’ to leapfrog in doing biz ranking

Lopez bats for ‘drastic change’ to leapfrog in doing biz ranking

June 13, 2018, 4:11 pm

MANILA -- The country’s top trade official seeks a “drastic change” in the bureaucracy to ensure that the Philippines will land in the top 20 percent of the ease of doing business global ranking by 2020. During the 6th Ease of Doing Business Summit in Pasay City Wednesday, Department of… Read More

PH seeks stronger customs cooperation with Russia

PH seeks stronger customs cooperation with Russia

June 12, 2018, 5:31 pm

MANILA -- Finance Secretary Carlos Dominguez III has called for closer cooperation between the Russian Federation and the Association of Southeast Asian Nations (ASEAN) in the field of customs administration, as a way to further strengthen economic ties between the two major global trade hubs.… Read More

TUCP: Wage hike in Regions 6, 7 won't lift workers from poverty

TUCP: Wage hike in Regions 6, 7 won't lift workers from poverty

June 12, 2018, 5:14 pm

MANILA -- Organized labor branded the wage orders released separately by the Regional Tripartite Wages and Productivity Boards (RTWPB) of Regions 6 (Western Visayas) and 7 (Central Visayas) as being too small to address the current needs of workers. The usually moderate Associated Labor… Read More

Exporters eye local market due to robust demand

Exporters eye local market due to robust demand

June 12, 2018, 3:56 pm

MANILA -- A ranking trade official said that aside from looking overseas, exporters are now also scouting for domestic opportunities arising from robust demand. Export Marketing Bureau (EMB) Director Senen Perlada told reporters on Monday that some of the country's traditional exports have equally… Read More

Cloud over global economy getting darker: IMF chief

Cloud over global economy getting darker: IMF chief

June 12, 2018, 12:25 pm

BERLIN -- International Monetary Fund (IMF) chief Christine Lagarde on Monday attacked the US protectionist trade policies and warned that the cloud over global economy "is getting darker". "The biggest and darkest cloud that we see is the deterioration in confidence that is prompted by (an)… Read More

LTFRB to set, regulate fares of TNCs

LTFRB to set, regulate fares of TNCs

June 11, 2018, 7:37 pm

MANILA -- The Department of Transportation (DOTr) has released an order that will grant authority to the Land Transportation Franchising and Regulatory Board (LTFRB) to regulate the operations of transportation network companies (TNCs) and transportation network vehicle services (TNVS) units… Read More

BSP peso rediscount facility availments drop in Jan-May ‘18

BSP peso rediscount facility availments drop in Jan-May ‘18

June 11, 2018, 7:28 pm

MANILA -- Banks’ availment of central bank's peso rediscount facility from January to May this year only reached PHP8.92 billion, a 40-percent drop from the PHP15-billion availment of the facility in the same period in 2017. Bangko Sentral ng Pilipinas (BSP) data released on Monday showed that… Read More

French firms to explore PH electronics market

French firms to explore PH electronics market

June 11, 2018, 7:27 pm

MANILA -- Representatives of companies from the city of Angers, known as France' electronics and Internet hub, are coming to town to explore opportunities in the Philippine market. It was announced Monday that Angers French Tech (AFT), which represents the group, will be setting up a French… Read More

 DOF reviews carriers' tax on int'l air, sea cargo vessels

DOF reviews carriers' tax on int'l air, sea cargo vessels

June 11, 2018, 7:25 pm

MANILA -- The Department of Finance (DOF) is reviewing the implementation of a law imposing a common carriers tax on international air and sea cargo vessels doing business in the Philippines to ensure a level playing field. According to a statement issued Monday, finance Secretary Carlos Dominguez… Read More

Stocks rise but Peso dives to 11-year low

Stocks rise but Peso dives to 11-year low

June 11, 2018, 6:52 pm

 MANILA — The Philippine peso hit a fresh 11-year low against the greenback, while local stocks charged in the opposite direction. The local unit shed 25 centavos to close at 52.95 from last Friday's finish of 52.7, registering its weakest level since July 2006. The Philippine Stock Exchange… Read More

Gov't hikes retail treasury bonds offerings to P122-B

Gov't hikes retail treasury bonds offerings to P122-B

June 11, 2018, 6:27 pm

MANILA -- The national government hiked its offering of retail treasury bonds (RTBs) to PHP121.8 billion as a result of the investing public's robust appetite for the three-year securities. The PHP121.8 billion RTBs set to be issued by the Bureau of Treasury (BTr) was oversubscribed more than… Read More

Oil price rollback set Tuesday

Oil price rollback set Tuesday

June 11, 2018, 4:58 pm

MANILA -- Pump prices in the country will go down a little bit more on Independence Day as world petroleum prices continue to take a direction favorable to consumers. In seperate text messages to journalists, local oil firms announced a price reduction of 0.55 centavos/liter on unleaded gasoline,… Read More

PH urged to supply more goods, services to UN

PH urged to supply more goods, services to UN

June 11, 2018, 1:37 pm

MANILA -- Philippine exporters are urged to increase their activities of supplying goods and services to the United Nations (UN). The UN Development Program (UNDP) will be on a roadshow in the country to present export opportunities for local enterprises. On the sidelines of the Doing Business… Read More

PEZA pushes for countryside development

PEZA pushes for countryside development

June 6, 2018, 10:29 pm

ILOILO CITY -- The Philippine Economic Zone Authority (PEZA) is encouraging local government units (LGUs), private landowners and business groups to have their lands converted into an economic zone to enhance their development potential. Director-General Charito B. Plaza, in a press conference… Read More

Globe urges gov’t to help expedite installation of cell sites

Globe urges gov’t to help expedite installation of cell sites

June 6, 2018, 10:14 pm

MANILA -- The Philippines would be able to achieve broadband Internet speed of at least 50 megabits per second (Mbps) for the next three years if the government wcan come up with policies that expedite the installation of cell sites across the country according to major telco firm Globe Telecom.… Read More

HSBC: PH to benefit from China’s 'new world order'

HSBC: PH to benefit from China’s 'new world order'

June 6, 2018, 10:11 pm

MANILA -- The Philippines stands to benefit from China’s new world order, as the Asia’s economic giant is bullish in opening its market in response to external headwinds due to trade protectionism. HSBC Private Banking Managing Director and Head of Investment Strategy and Advisory for Asia Fan… Read More

PH bourse earnings seen to grow in 2018

PH bourse earnings seen to grow in 2018

June 6, 2018, 9:52 pm

MANILA -- Despite being the worst performing bourse in the region for the past five months, HSBC Private Banking forecasts that earnings per share (EPS) in the Philippines Stock Exchange (PSE) will grow by 10 percent by the end of the year. In a media briefing Wednesday, the bank’s Managing… Read More

HSBC: BSP may defer rate hikes until Q3 2019

HSBC: BSP may defer rate hikes until Q3 2019

June 6, 2018, 9:36 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) may leave key policy rates unchanged until the third quarter of next year, HSBC Private Banking Managing Director and head of Investment Strategy and Advisory for Asia Fan Cheuk Wan said Wednesday. In a media roundtable here, Fan said the BSP is… Read More

25 SMEs in Ilocos Norte to undergo training in Thailand

25 SMEs in Ilocos Norte to undergo training in Thailand

June 6, 2018, 9:03 pm

LAOAG CITY—Agnes Asuncion, a local producer of dragon fruit herbal soap and local fruit wines is set to go on a trip to Bangkok, Thailand on June 12 for a three-day training on product development and marketing. Asuncion, a former Overseas Filipino Worker returnee from Barangay Pias, Currimao… Read More