Business

BMI Research: NSFR roll out to ensure PH financial stability

BMI Research: NSFR roll out to ensure PH financial stability

July 6, 2018, 2:29 pm

MANILA -- Implementing the net stable funding ratio (NSFR) under Basel III might hurt both universal and commercial banks in the short term, but will ensure the local banking system's stability in the long run. According to Fitch Group think tank BMI Research, the adoption of the NSFR will make… Read More

Grab gives P70-M subsidy to drivers

Grab gives P70-M subsidy to drivers

July 5, 2018, 8:04 pm

MANILA -- An official of the ride-sharing firm Grab Philippines bared Thursday that the company has provided its drivers about PHP70 million in subsidy in the past two weeks amid the limited supply of its transportation network vehicle services (TNVS) units. The subsidy program, which the company… Read More

BOI investment approvals up 19% in January-May

BOI investment approvals up 19% in January-May

July 5, 2018, 7:51 pm

MANILA -- Investments approved by the Board of Investments (BOI) from January to May this year rose by 19 percent to PHP207 billion from PHP174 billion during the same period in 2017. In a statement Thursday, BOI data showed that a big chunk of pledges in the first five months of 2018 came from… Read More

DM Wenceslao sets P3.1-B capex for projects

DM Wenceslao sets P3.1-B capex for projects

July 5, 2018, 7:48 pm

MANILA -- Integrated property developer D.M. Wenceslao and Associates Incorporated (DMWAI) is looking at spending PHP3.1 billion this year for the completion of its nine projects and developments within Aseana City in Pasay City. This year’s planned capital expenditures (capex) is almost four… Read More

Manufacturing output up 19.8% in May

Manufacturing output up 19.8% in May

July 5, 2018, 7:44 pm

MANILA -- The manufacturing sector posted stronger growth in May, bouncing back from last year's decline, as it is being driven by the expansion of businesses amid rising consumer demand. The Philippine Statistics Authority (PSA) reported on Thursday that the Volume of Production Index (VoPI) for… Read More

Peso loses ground, PSEi tumbles to 7,200-level

Peso loses ground, PSEi tumbles to 7,200-level

July 5, 2018, 6:48 pm

MANILA -- Both the Philippine peso and the local bourse ended in the red on Thursday after news broke out of a higher-than-expected June inflation. The local unit ended the trading at 53.42 to the dollar from Wednesday's close of 53.36. It opened the day at 53.41, and hit a high of 53.36 and a low… Read More

Inflation to taper off by yearend: Pernia

Inflation to taper off by yearend: Pernia

July 5, 2018, 6:26 pm

MANILA -- Socioeconomic Planning Secretary Ernesto Pernia is counting on the country’s inflation rate to normalize towards the end of the year after peaking this quarter. This, after price pressures accelerated to a five-year high of 5.2 percent last month. “We expect inflation to peak in the… Read More

New policies needed to sustain manufacturing sector's growth

New policies needed to sustain manufacturing sector's growth

July 5, 2018, 6:22 pm

MANILA -- Trade and Industry Secretary Ramon Lopez is batting for the adoption of fresh government policies in support of the manufacturing sector's continued growth, either in the form of tax perks or through fostering a more conducive business environment. Lopez welcomes the double-digit growth… Read More

All prepaid load denominations now good for 1yr

All prepaid load denominations now good for 1yr

July 5, 2018, 5:01 pm

MANILA -- Telecommunication giants PLDT Inc. and Globe Telecom will also extend the validity of prepaid loads amounting to less than PHP300 to one year effective July 5. This, after the duopoly began implementing one-year expiration periods for prepaid loads of PHP300 or greater beginning January… Read More

June inflation accelerates to 5.2%

June inflation accelerates to 5.2%

July 5, 2018, 12:41 pm

MANILA -- Actual inflation rate in June exceeded the government’s outlook as it stood at 5.2 percent, a record-high in more than five years. Data released by the Philippine Statistics Authority (PSA) Thursday showed that price pressures accelerated faster than May 2018’s rate of 4.6 percent.… Read More

PLDT: DOLE order to regularize 7K employees to disrupt ops

PLDT: DOLE order to regularize 7K employees to disrupt ops

July 4, 2018, 9:11 pm

MANILA -- The order of the Department of Labor and Employment (DOLE) for telecommunications firm PLDT Inc. to stop in engaging in subcontracting activities and regularize more than 7,000 employees will disrupt the company's operations. PLDT denied that it has terminated its service contracts as… Read More

ADB puts up USD7.1-B lending program for PH infra projects

ADB puts up USD7.1-B lending program for PH infra projects

July 4, 2018, 8:28 pm

MANILA -- The Philippine government and Asian Development Bank (ADB) have signed an agreement covering an indicative USD7.1 billion sovereign lending program that will mainly support the Duterte administration’s “Build, Build, Build” infrastructure program over the next three years. The… Read More

New Clark City gov’t center set for completion in 2020

New Clark City gov’t center set for completion in 2020

July 4, 2018, 8:26 pm

MANILA -- The construction of the national government center in New Clark City, one of the 75 flagship projects under the Duterte administration’s infrastructure program, is underway and has been set for completion by 2020, according to the country’s chief economic planner. “Our vision of… Read More

DOTr to inaugurate projects in 'next few months'

DOTr to inaugurate projects in 'next few months'

July 4, 2018, 8:25 pm

CAPAS, Tarlac -- The government is set to open three new terminals in the next couple of months, according to Department of Transportation (DOTr) Secretary Arthur Tugade. Tugade said in a press conference here Wednesday the New Bohol International Airport in Panglao, Cavite Gateway Terminal Phase… Read More

GSIS hikes overseas investments to USD1.1-B

GSIS hikes overseas investments to USD1.1-B

July 4, 2018, 7:42 pm

MANILA -- State pension fund Government Service Insurance System (GSIS) has committed to increasing its investments abroad to USD1.1 billion (over PHP58.3 billion) to diversify its portfolio and generate greater income. GSIS president and general manager Jesus Clint Aranas bared that it has been… Read More

PH franchising sector seen to sustain growth

PH franchising sector seen to sustain growth

July 4, 2018, 7:39 pm

MANILA -- The Philippine Franchise Association (PFA) expressed optimism that the franchising industry will continue to sustain its growth amid challenges being faced by the economy such as currency depreciation and increasing inflation rate. This comes as the number of registered franchises has… Read More

15K jobs available under Build Build Build

15K jobs available under Build Build Build

July 4, 2018, 7:38 pm

CAPAS, Tarlac -- About 15,000 jobs are currently available on projects related to government's Build Build Build Program, Department of Public Works and Highways (DPWH) Secretary Mark Villar revealed Wednesday. In a press conference here on the site of the National Government Administrative Center… Read More

Aeria acquires CYBIRD, names new CEO

Aeria acquires CYBIRD, names new CEO

July 4, 2018, 7:35 pm

TOKYO -- Japanese game developer CYBIRD Co., Ltd., which has been officially acquired by Aeria, Inc., announced on July 3 the appointment of Shuji Utsumi, CYBIRD's President since 2016, as its Chief Executive Officer. CYBIRD is a Japan-based mobile game and entertainment provider with a history… Read More

CYBIRD, Liber Entertainment conclude licensing agreement on 'A3!'

CYBIRD, Liber Entertainment conclude licensing agreement on 'A3!'

July 4, 2018, 7:34 pm

TOKYO -- Japanese game developer CYBIRD Co., Ltd. announced on June 28 that it has concluded a licensing agreement with Liber Entertainment Inc. concerning the worldwide distribution of the English version of the Liber-developed and operated ikemen actor-training game "A3!" Ikemen is a Japanese… Read More

BCDA looking into expanding gov’t center in Clark

BCDA looking into expanding gov’t center in Clark

July 4, 2018, 7:30 pm

CAPAS, Tarlac -- The Bases Conversion and Development Authority (BCDA) is looking into expanding the National Government Administrative Center (NGAC) at New Clark City, its president and chief executive officer Vivencio Dizon revealed. In a press conference for the “Build, Build, Build”… Read More