Business
Aboitiz gains original proponent status on New Bohol Int’l Airport
September 28, 2018, 8:07 pm
MANILA -- Aboitiz InfraCapital Inc. (AIC) was granted the original proponent status (OPS) by the Department of Transportation (DOTr) on its proposal to operate the New Bohol International Airport . The new airport which is located in Panglao Island, is intended to replace the existing Tagbilaran… Read More
IMF eyes recovery of PH economy in H2
September 28, 2018, 7:56 pm
MANILA -- The International Monetary Fund (IMF) forecasts faster growth for the Philippine economy in the second half of 2018, saying that the slowdown in the second quarter was only temporary. In a briefing Friday, IMF Resident Representative to the Philippines Yongzheng Yang said they expect a… Read More
Lopez talks investment prospects with UK-ASEAN bizmen
September 28, 2018, 6:09 pm
MANILA – Trade Secretary Ramon Lopez said he met with members of the United Kingdom - Association of Southeast Asian Nations (UK-ASEAN) Business Council (UKABC) to discuss investment opportunities in the Philippines, during a roadshow in London this week. The roundtable discussion, where he was… Read More
PH, China firming up financing for infra projects: Chinese envoy
September 28, 2018, 5:53 pm
MANILA -- The Philippines and China are firming up financing agreements for infrastructure projects under the government’s “Build, Build, Build” program in time for Chinese President Xi Jinping’s visit to Manila by the end of the year, Chinese Ambassador to the Philippines Zhao Jianhua… Read More
Another rate hike seen in December
September 28, 2018, 9:36 am
MANILA -- Some economists project one more increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates before yearend, even after it has already raised them by a total of 150 basis points in 2018. The BSP on Thursday announced another 50 basis points increase in its key rates on “persistent… Read More
Local markets rise on BSP, Fed rate hikes
September 27, 2018, 9:38 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the Peso ended in the green Thursday following the hikes in the US Federal Reserve and Bangko Sentral ng Pilipinas’ (BSP) key rates during the day. PSEi recovered from a two-day slide after it rose by 0.72 percent, or 52.38 points, to… Read More
Grab expands mobile wallet services
September 27, 2018, 8:27 pm
MANILA -- Ridesharing firm Grab has expanded its mobile wallet services in the country to paying utility bills, food delivery orders, store purchases and restaurant bills. This, as the Bangko Sentral ng Pilipinas has licensed the firm to operate as an electronic money issuer last August. In its… Read More
Korean firm commits to invest USD1-B in Bataan
September 27, 2018, 7:51 pm
MARIVELES, Bataan -- A new locator has committed to invest USD1 billion at the Freeport Area of Bataan (FAB) here. FAB Chairman Emmanuel Pineda made the announcement during the signing of a memorandum of agreement (MOA) on Wednesday between FAB and The BizLink, Phils., Inc., represented by its… Read More
BSP hikes key rates by 50 bps
September 27, 2018, 7:25 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) on Thursday raised key rates by another 50 basis points, for the same reason it made a similar move just six weeks ago, on “persistent signs of sustained and broadening price pressures.” To date, the central bank’s key rates have been hiked by… Read More
PH needs more cell tower firms, telco stakeholders say
September 27, 2018, 6:47 pm
MANILA -- Various stakeholders urged government to encourage the use of common tower facilities, which can be leased by current and future telco firms, through the establishment of more independent tower companies. This, as the Department of Information and Communications Technology (DICT) crafted… Read More
P3/kilo rice price rollback seen
September 27, 2018, 6:28 pm
MANILA -- The National Food Authority (NFA) said Thursday that it expects prices of commercial rice to go down by PHP3 per kilogram within a month as a result of government's measures to augment the staple's supply in the local market. National Food Authority (NFA) Spokesperson Rex Estoperez told… Read More
DTI to ensure stable supply of cement
September 27, 2018, 6:20 pm
MANILA -- Department of Trade and Industry (DTI) Undersecretary for Consumer Protection Group Ruth Castelo said the agency will ensure a stable supply of cement in order to keep up with the local demand and to stabilize prices. She issued the statement after the Department of Environment and… Read More
Lopez welcomes bills institutionalizing gov’t microfinance
September 27, 2018, 6:19 pm
MANILA -- Trade Secretary Ramon Lopez welcomed legislative measures supporting the microfinance program of the Department of Trade and Industry (DTI), Pondo sa Pagbabago at Pag-asenso or P3 Program. Both houses in Congress now have pending bills seeking to institutionalize the P3 Program… Read More
TDF rates rise again ahead of MB policy meet
September 26, 2018, 9:08 pm
MANILA – The rates of all tenors of central bank's Term Deposit Facility (TDF) rose again this week attributed to the expectations that the Monetary Board (MB) will impose another hike in key rates when it meets Thursday. Weighted average rate of the seven-day facility went up to 4.4215 percent… Read More
Local markets on wait-and-see mode pending BSP, Fed rate decisions
September 26, 2018, 6:42 pm
MANILA -- Investors stayed in the sidelines during Wednesday’s equities trading ahead of much-awaited policy rate announcements by both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). The same wait-and-see sentiment also kept the peso virtually unchanged. The Philippine Stock… Read More
Invest in technology, PH water sector urged
September 26, 2018, 5:41 pm
MANILA – Amid the challenges confronting the Philippines in the area of water resource management, the country's policy-makers have been urged to invest in water technology to make the sector more efficient. In a media round table on Wednesday, Xylem President and Chief Executive Officer Patrick… Read More
BOC-Dumaguete revenue collection hits P2-B mark
September 26, 2018, 5:12 pm
DUMAGUETE CITY – The Bureau of Customs (BOC) Sub-port Office in Dumaguete City, Negros Oriental is closing in on its target revenue collection for 2018 way ahead of schedule, having already reached the PHP2-billion mark as of September. Dumaguete Customs Collector Fe Lluelyn G. Toring said… Read More
PH growth to resume in 2019: ADB
September 26, 2018, 5:10 pm
MANILA -- The Asian Development Bank (ADB) expects Philippine economic growth to pick up next year amid the tapering off of inflationary pressures and the government’s infrastructure push. In an update of its flagship annual economic publication, Asian Development Outlook (ADO), the ADB on… Read More
August car sales hint recovery
September 26, 2018, 4:58 pm
MANILA – Automotive vehicle sales in August increased by 8.1 percent on a month-on-month basis, signaling what could be an end to sluggish sales in recent months, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported… Read More
BSP seen to hike rates further, cut RRR anew
September 26, 2018, 4:43 pm
MANILA – Though inflation is widely believed to have peaked in August, analysts still anticipate that the Monetary Board (MB) will go through with another hike in key rates on Thursday, September 27. Economists of First Metro Investments Corporation (FMIC) and the UA&P Capital Markets Research… Read More
