Business
64-B-yen Japan-funded projects awarded to PH during Duterte admin
June 21, 2018, 3:27 pm
MANILA – The government of Japan has awarded more than 64.52 billion yen or more than PHP31.29-billion worth of projects to the Philippines in the first two years of the Duterte administration. A presentation by the Philippine delegation during the 5th Japan-Philippines High-Level Joint… Read More
Further rate hikes seen to ease peso depreciation
June 21, 2018, 3:05 pm
MANILA -- An economist from the Manila office of Dutch banking group ING expects that the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) will implement two policy interest rate increases next year, particularly aimed at taming the peso's depreciation. “We think another rate hike is… Read More
SEC approves NLEX’s P25-B shelf registration
June 21, 2018, 9:19 am
MANILA -- The Securities and Exchange Commission (SEC) has approved the shelf registration of NLEX Corporation for fixed-rate bonds worth PHP25 billion, which it will offer in several tranches within three years. In a document released Wednesday by SEC, NLEX’s initial issue will be worth PHP4… Read More
Ayala Land luxury unit eyes P3-B sales from Davao project
June 21, 2018, 7:44 am
MANILA -- Luxury developer Ayala Land Premier (ALP) targets to book close to PHP3 billion in sales from the soon-to-launch second phase of its premium residence project in Davao City, after it has been emboldened by the success of its first phase. ALP Head of Sales and Marketing Paolo Viray said… Read More
DA offers easy access loan for farmers, fishermen
June 20, 2018, 8:35 pm
CEBU CITY -- The Department of Agriculture (DA) has called upon small farmers and fishermen to avail of its easy access loan program to help them improve their productivity. Dr. Gerry Avila, DA-7’s (Central Visayas) Agribusiness and Marketing Assistance Division chief, said Wednesday the program… Read More
PCC to draft list of fair competition violators
June 20, 2018, 8:30 pm
MANILA -- The Philippine Competition Commission (PCC) announced that it will soon generate a list of industries within the manufacturing sector that violate laws on fair competition. In an interview on Wednesday, PCC chairman Arsenio Balisacan said the agency, with its limited manpower and… Read More
Peso weakens further; bearishness takes over bourse
June 20, 2018, 8:27 pm
MANILA -- The Philippine peso, hovering around a 12-year low, weakened further against the greenback, while the local stock market slipped deeper into bear-market territory on Wednesday. The local unit closed today's session at 53.48 against the greenback, 4 centavos weaker than yesterday's finish… Read More
Monetary Board hikes interest rates anew
June 20, 2018, 7:24 pm
MANILA -- The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) raised anew policy interest rates by 25 basis points as a preemptive measure to moderate any second-round price surge that may occur saying that “inflation expectations remained elevated for 2018”. In a press briefing… Read More
DTI eyes imposition of SRPs on agri goods
June 20, 2018, 7:20 pm
MANILA -- Trade and industry Secretary Ramon Lopez said Agriculture Secretary Manny Piñol is open to the idea of putting suggested retail prices (SRP) on agricultural products as a mechanism to monitor profiteering by retailers. This is in line with President Rodrigo Duterte’s directive to… Read More
PH budget system hastens process for ODA-funded projects
June 20, 2018, 6:48 pm
MANILA -- Budget Secretary Benjamin Diokno on Wednesday said the government has instituted measures to fast track the processing of foreign-assisted projects and to address underspending, as the country prepares for the shift to cash-based operations from multi-year budgeting. “With the budget… Read More
‘Minimal’ wage hike fine with DTI chief
June 20, 2018, 3:39 pm
MANILA-- Department of Trade and Industry (DTI) Secretary Ramon Lopez said a significant increase in wages in the country could be “dangerous,” but a “minimal adjustment” is acceptable due to the recent spike in inflation. In a press briefing in Malacañan Palace Wednesday, Lopez said that… Read More
PH can minimize well-being losses from calamities by 22%
June 20, 2018, 3:36 pm
MANILA -- The Philippines can reduce the average well-being loss due to natural disasters by 22 percent if it is able to speed up recovery from five years to one, a joint study by the World Bank (WB) and the Global Facility for Disaster Reduction and Recovery (GFDRR) revealed. The WB-GFDRR report… Read More
DA holds investment forum on cashew and cacao in Palawan
June 19, 2018, 10:01 pm
PUERTO PRINCESA CITY, Palawan – The regional field office of the Department of Agriculture (DA) conducted here Tuesday an investment forum on current market trends in the production of cacao and cashew, hoping to expand and develop their production in Palawan. Randy Pernia, senior agriculturist… Read More
BOP deficit surges in May
June 19, 2018, 9:50 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) reported Tuesday that the country's balance of payments (BOP) position this May posted a deficit of USD583 million, a surge relative to the USD59-million deficit in May 2017. The BSP said dollar outflows last month were mainly due to the foreign… Read More
BSP assures PH financial stability amid local, global risks
June 19, 2018, 9:29 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. has assured Japanese investors that the Philippines remains financially stable amid risks in domestic and global markets. In his presentation during the Philippine Economic Briefing in Tokyo on Tuesday, Espenilla said the… Read More
RCBC ties up with Osaka, Kobe banks to lure Japanese SMEs
June 19, 2018, 9:25 pm
MANILA -- A budding partnership between the Rizal Commercial Banking Corp. (RCBC) and two banks under Resona Holdings, Inc. in Japan aims to bring more Japanese small and medium enterprises (SMEs) to the Philippines. In a statement Tuesday, RCBC said Japan’s growing interest in investment… Read More
NEDA seeks solution to LGU land conflict, passage of Land Use Law
June 19, 2018, 8:59 pm
MANILA -- The NEDA Board’s National Land Use Committee (NB-NLUC) pushed for the immediate resolution of boundary conflicts among local government units (LGUs) and reiterated its call for the passage of the proposed National Land Use Act (NaLUA). During the 10th meeting of the NB-NLUC early this… Read More
CLI, Ascott to build serviced residence in Bacolod
June 19, 2018, 8:20 pm
MANILA -- Property developer Cebu Landmasters Inc. (CLI) on Tuesday signed a management deal with The Ascott Limited to develop the first hotel in Bacolod City carrying an international brand, as it banks on the growth of the tourism industry. The 200-room Citadines Bacolod serviced residence is… Read More
PH among best economic performers in region: Pernia
June 19, 2018, 7:17 pm
MANILA -- Socioeconomic Planning Secretary Ernesto Pernia on Tuesday told the Japanese business community and other stakeholders that the Philippines remains one of the best performing economies in the region. “National and international observers have remarked that the Philippine economy has… Read More
Vista Land taps top global software data manager BackOffice Associates
June 19, 2018, 5:23 pm
MANILA -- Global software firm BackOffice Associates has clinched a major deal with Vista Land, one of the leading integrated property developers in the country. Vista Land has tapped BackOffice Associates, a worldwide leader in information governance and stewardship solutions, to govern its… Read More
