Business
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
Grab eyes providing subsidies to drivers
June 5, 2018, 8:21 pm
MANILA -- Ride-sharing firm Grab Philippines is eyeing to provide subsidies to its drivers to motivate them to render quality services to passengers amid the current limited supply of transportation network vehicle services (TNVS) units. The enhanced incentive to drivers will also help Grab recoup… Read More
Factory output up 31% in April
June 5, 2018, 7:00 pm
MANILA -- The country's Factory Output in April 2018 rose 31.1 percent, constituting a huge improvement from its flat growth in April 2017. The Monthly Integrated Survey of Selected Industries (MISSI) of Philippine Statistics Authority (PSA) reported Tuesday that 15 manufacturing subsectors… Read More
Peso, stocks bounce back
June 5, 2018, 6:57 pm
MANILA -- Local markets woke up on Tuesday as the Philippine peso appreciated against the US dollar and stocks rose above the 7,600 level. The local unit closed at 52.40 from 52.58 a day ago. Meanwhile, the benchmark Philippine Stock Exchange index closed the session up 1.4 percent, or 106.15… Read More
Unemployment rate down to 5.5% in April
June 5, 2018, 5:48 pm
MANILA -- The country's unemployment rate in April 2018 declined to 5.5 percent from 5.7 percent in the same month in 2017, the Philippine Statistics Authority (PSA) data showed Tuesday. National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon said in a press briefing… Read More
Negros agrarian beneficiaries eye expansion of sugarcane production
June 5, 2018, 5:45 pm
LA CASTELLANA, Negros Occidental -- Agrarian reform beneficiaries (ARBs) in this central Negros municipality are eyeing to expand sugarcane production with some help from the government and the private sector. The Dama Farm Workers Agrarian Reform Beneficiaries Association (Dafwarba) based in… Read More
Gov’t not giving up on 2018 inflation target
June 5, 2018, 3:00 pm
MANILA -- Budget and Management Secretary Benjamin Diokno is confident that the inflation rate at the end of this year will settle within the administration’s target of 2 to 4 percent, as price pressures as expected to taper off in the coming months. Diokno said average inflation rate from… Read More
May inflation at 4.6%, price pressure seen to ease in next months
June 5, 2018, 12:29 pm
MANILA -- Government data released Tuesday showed that headline inflation in May rose to 4.6 percent, slightly higher than April’s rate of 4.5 percent but generally lower than the market’s expectation. In a press briefing Tuesday, National Economic and Development Authority (NEDA)… Read More
Gov’t invites public to invest in Treasury bond for as low as 5K
June 4, 2018, 9:18 pm
LEGAZPI CITY -- The government through the Bureau of Treasury (BTr) invited the public to invest in its new 3-year retail treasury bonds (RTBs) with a minimum investment of PHP 5,000 during the Bicol leg of its roadshow and investors' briefing at the Oriental Hotel Monday in this city. BTr… Read More
D&L Industries eyes deals with large multinational firms
June 4, 2018, 8:59 pm
MANILA -- Listed D&L Industries Inc., a producer of specialty food ingredients, plastics and oleochemicals, targets to forge more partnerships with large multinational firms which are keen on expanding their presence in Asia, as it ramps up its export business. D&L President Alvin Lao said there… Read More
Oil price spike seen to drive higher inflation in May -- economist
June 4, 2018, 8:56 pm
MANILA -- Inflation in May has been seen to further increase to 5 percent from 4.5 percent in April mainly due to higher oil prices in the global market, IHS Markit Chief Economist for Asia Pacific Rajiv Biswas said. The economist’s forecast is still within the 4.6 to 5.4 percent inflation… Read More
Philippine peso, stocks begin trading week lower
June 4, 2018, 7:49 pm
MANILA -- The Philippine's financial and capital markets once again gave in to bearish sentiments as the Peso depreciated against the greenback and the country's main stock index declined on Monday. The local unit closed at 52.58 against the US dollar from Friday's finish of 52.55. The bellwether… Read More
Clark seen as Asia’s next 'aerotropolis'
June 4, 2018, 7:46 pm
CLARK FREEPORT, Pampanga—An official of the Bases Conversion and Development Authority (BCDA) on Monday cited the huge potential of Clark as Asia’s next aerotropolis as development of the Clark International Airport and New Clark City go into full swing. Joshua Bingcang, BCDA Senior Vice… Read More
Gov’t raises P13-B from T-bills
June 4, 2018, 6:16 pm
MANILA -- The Bureau of Treasury (BTr) was able to raise PHP13.24 billion for the national government Monday from the Treasury bills (T-bills) auction Monday. The auction committee decided to fully award the 91-day and 182-day T-bills, which were offered at PHP5 billion and PHP4 billion,… Read More
Negros biz leader hopeful over passage of Ease of Doing Business Act
June 4, 2018, 6:13 pm
DUMAGUETE CITY, Negros Oriental – A business leader in Central Visayas on Monday expressed optimism over the enactment of Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, which is intended to ease businessmens' burden over bureaucracy.… Read More
DOF sees inflation momentum receding despite higher May forecast
June 4, 2018, 4:15 pm
MANILA -- While they are still crunching the numbers, the Department of Finance (DOF) said it expects that May's inflation will even outpace that of the previous month. In the DOF Economic Bulletin which was E-mailed over the weekend, it forecasted inflation in May to climb further to 4.9%… Read More
Printer malfunction delays SSS checks
June 1, 2018, 7:16 pm
MANILA -- The Social Security System (SSS) has apologized to some 106,950 members and pensioners who will not be getting their checks for salary loans, death, disability, retirement, sickness and maternity claims on time. SSS media affairs head, Ma. Louisa Sebastian, on Friday attributed the… Read More
DOF: Build Build Build to narrow inequality in PH
June 1, 2018, 5:49 pm
MANILA -- The Department of Finance (DOF) said Friday the Duterte administration's ambitious infrastructure program dubbed the Build Build Build Program, will contribute greatly to narrowing inequality among regions. In its Economic Bulletin on gross regional domestic product (GRDP) released… Read More
