Business
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
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
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
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
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
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
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
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
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'
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
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
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
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
Smart launches facility for dev’t of 5G services
June 6, 2018, 4:10 pm
MANILA -- Mobile service provider Smart Communications has launched a facility for research, development and testing of 5G or fifth generation wireless technologies that it says will boost their delivery of Internet services to subscribers. Smart’s 5G Technolab will enable subscribers to… Read More
Gov't agencies jointly hold MSME growth training in Tuguegarao
June 6, 2018, 3:33 pm
TUGUEGARAO CITY -- The Department of Trade and Industry (DTI), the Department of Information and Communications Technology (DICT), and the city government of Tuguegarao will jointly conduct the pilot run of a technical training seminar intended to help accelerate the growth of Micro, Small and… Read More
Better jobs, manufacturing data to support PH’s Q2 growth
June 6, 2018, 3:30 pm
MANILA -- National Economic and Development Authority (NEDA) undersecretary Rosemarie Edillon expressed confidence that the improving performance of the country’s labor force and manufacturing sector will spur forward the country's economy in the second quarter of 2018. This is after the… Read More
Dominguez cites SoKor's role in PH economic emergence
June 6, 2018, 3:28 pm
SEOUL—Finance Secretary Carlos Dominguez III has underscored the major role that South Korea is playing in the “economic emergence” of the Philippines, which is now moving to an even higher growth plane as the Duterte administration fast-tracks its ambitious $170-billion “Build, Build,… Read More
Bloomberry eyes mid-2019 start for QC hotel, casino project
June 5, 2018, 10:02 pm
MANILA -- Bloomberry Resorts Corp. expects to develop its planned hotel and casino project in Quezon City next year, its second in the country, as it rides on the local tourism industry's growth. “We are on track to develop our Quezon City property by early 2022, with construction set to begin… Read More
PH, Sokor sign loan pact for Cebu Port Project
June 5, 2018, 8:28 pm
SEOUL, South Korea -- The Philippines and South Korea signed on Monday a USD172.64 million loan agreement for the construction of a new international container port in Cebu that aims to free up the existing seaport in the province; and provide a more efficient and reliable transport infrastructure… Read More
PH, SoKor discuss USD191-M projects under ODA
June 5, 2018, 8:23 pm
SEOUL, South Korea -- The Philippines has discussed two infrastructure-related projects and a proposed revenue monitoring “infostructure” system in the pipeline with a total combined cost of USD191 million for possible financing by South Korea, which has pledged up to USD1 billion in official… Read More
