Business

Infra program to contribute P31-T to PH economy

Infra program to contribute P31-T to PH economy

June 27, 2018, 5:32 pm

MANILA -- The government’s massive infrastructure program can contribute as much as PHP31.2 trillion to the economy over the next five years, according to the National Economic and Development Authority (NEDA). NEDA Assistant Secretary for Investment Programming Jonathan Uy told reporters on… Read More

Warning labels on sugary drinks may start by August

Warning labels on sugary drinks may start by August

June 27, 2018, 4:45 pm

MANILA -- Trade and industry Secretary Ramon Lopez said government may begin requiring manufacturers or traders to put warning labels on high sugar content beverages as early as August this year. On the sidelines of Department of Trade and Industry’s (DTI) workshop for small and medium… Read More

BMI outlook: 54:USD1 at end-2018

BMI outlook: 54:USD1 at end-2018

June 27, 2018, 3:56 pm

MANILA -- The Philippine peso will end the year at PHP54 to a US dollar, Fitch Group’s research arm forecasts. BMI Research reported Wednesday that the outlook for the Philippine peso is weaker compared to its previous projection of PHP51 to a dollar for 2018. The think tank also adjusted its… Read More

DBM: 143 cities seek funding for Green Green Green projects

DBM: 143 cities seek funding for Green Green Green projects

June 27, 2018, 3:03 pm

MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno said on Wednesday that local government units (LGUs) representing 143 cities have expressed interest in securing funding from the national government under the Green Green Green assistance program. During the Breakfast… Read More

SSS Palawan ups collection in Q1

SSS Palawan ups collection in Q1

June 27, 2018, 2:59 pm

PUERTO PRINCESA CITY, Palawan -- The Social Security System’s (SSS) branch here reported Tuesday that it has collected PHP98.29 million in contributions for the first quarter of the year. Atty. Emmanuel Dooc, president and chief executive officer of the SSS, said the amount represented a… Read More

DICT releases guidelines for new telco player

DICT releases guidelines for new telco player

June 27, 2018, 2:12 pm

MANILA -- The elusive third player in the local telecommunications industry must first have an annual capital and operating expenditures worth PHP40 billion, must have coverage of at least 30 percent of the national population and a minimum average broadband speed of 5 megabits per second (Mbps),… Read More

Oriental Peninsula diversifies into renewable energy

Oriental Peninsula diversifies into renewable energy

June 26, 2018, 9:01 pm

MANILA -- Oriental Peninsula Resources Group, Inc. (ORE) is acquiring almost a third of a renewable energy company that is majority owned by its affiliate, as it diversifies its investment portfolio by adding power generation to its existing mining business. Oriental Peninsula said in a disclosure… Read More

FNI prices follow-on offering at P2.07/share

FNI prices follow-on offering at P2.07/share

June 26, 2018, 8:45 pm

MANILA -- Global Ferronickel Holdings, Inc. (FNI) has priced its follow-on offering at PHP2.07 per share to raise PHP517.5 million from the sale of primary shares. In a disclosure to the Philippine Stock Exchange, FNI said the offering involves 250 million primary shares. The company said the… Read More

Peso depreciation can cut PH trade deficit

Peso depreciation can cut PH trade deficit

June 26, 2018, 8:39 pm

MANILA -- The depreciation of the peso against the US dollar can reduce the country’s trade deficit over the medium term, the First Metro Investment Corporation (FMIC) and University of Asia & the Pacific (UA&P) said on Tuesday. It was noted that the peso’s weakness has positive effects for… Read More

Peso continues slide but local bourse breaks losing streak

Peso continues slide but local bourse breaks losing streak

June 26, 2018, 8:21 pm

MANILA -- The Philippine stock market closed Tuesday on a positive note to end the eight-day losing streak but the Philippine peso continued to slide against the US dollar. The local currency finished the day’s trade 3 centavos lower at 53.47 from the previous session’s 53.44. It opened the… Read More

EMEAP central banks to launch PAIF securities lending

EMEAP central banks to launch PAIF securities lending

June 26, 2018, 7:54 pm

MANILA -- The Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) 2 announced on Tuesday the launch of securities lending in the Asian Bond Fund (ABF) 3 Pan-Asia Bond Index Fund (PAIF) 4. Effective July 10, selected local currency-denominated bonds held within PAIF will be made… Read More

T-Bonds bid rejected as yield rises

T-Bonds bid rejected as yield rises

June 26, 2018, 7:47 pm

MANILA -- The Bureau of Treasury (BTr) has rejected tenders for the reissued Treasury bond (T-bond) offered on Tuesday as it fetched a higher interest rate. The five-year T-bond was offered at PHP10 billion with a coupon rate of 5.5 percent. It now has a remaining life of four years and eight… Read More

CEZA crafting rules to safeguard cryptocurrency investors

CEZA crafting rules to safeguard cryptocurrency investors

June 26, 2018, 6:08 pm

MANILA -- Cagayan Economic Zone Authority (CEZA) Administrator and Chief Executive Officer Raul Lambino said the investment promotion agency (IPA) is in the process of crafting regulations that will protect those investing in cryptocurrency. CEZA is eyeing to become a hub for financial technology… Read More

BTr partially awards T-bills in Monday auction

BTr partially awards T-bills in Monday auction

June 26, 2018, 12:58 pm

MANILA -- The Bureau of Treasury (BTr) partially awarded 91-, 182-, and 364-day Treasury bills (T-bills) during Monday's auction. In a statement, BTr’s auction committee said average rates across the three tenors were higher than previous biddings. “Bids came in higher, prompting the body to… Read More

Udenna ventures into tourism projects

Udenna ventures into tourism projects

June 25, 2018, 9:09 pm

MANILA -- Conglomerate Udenna Group is making its foray into the tourism sector with its acquired company, listed Philippine H2O Ventures Corp., in support of the country’s tourism sector. Philippine H2O Ventures, during its stockholders’ meeting on Monday, received approval to change its name… Read More

Guidelines for new telco player to be released this week: DICT

Guidelines for new telco player to be released this week: DICT

June 25, 2018, 9:07 pm

MANILA -- The Department of Information and Communications Technology (DICT) is set to release within this week the draft terms of reference (TOR) for the entry of the much-awaited third player in the local telecommunications industry. This initiative was done in compliance with the directive of… Read More

Japan extends 1.84-B yen grant aid to PH

Japan extends 1.84-B yen grant aid to PH

June 25, 2018, 9:05 pm

MANILA -- The Japanese government is extending 1.84-billion yen (roughly PHP892.69 million) grant aid to the Philippines for a flood control project in Cagayan de Oro River Basin and for human resource development scholarship. Socio-economic Planning Secretary Ernesto Pernia and Japan… Read More

PCCI tackles government’s shift to federalism

PCCI tackles government’s shift to federalism

June 25, 2018, 8:47 pm

MANILA -- The country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI), called on its membership to put their views on the proposed shift to a federal form of government on the table. PCCI President Alegria Sibal-Limjoco on Monday said it is vital for… Read More

Peso slips further; PSEi breaches 6,900-mark

Peso slips further; PSEi breaches 6,900-mark

June 25, 2018, 8:42 pm

MANILA -- The Philippine peso weakened even further against the greenback while the local stock barometer dropped to the 6,900-level on Monday. The peso ended the day’s trade 16 centavos weaker at 53.44 from Friday's finish of 53.28. It opened the day at 53.35 and traded between 53.32 and 53.46.… Read More

SSS runs after delinquent employers in El Nido

SSS runs after delinquent employers in El Nido

June 25, 2018, 8:14 pm

EL NIDO, Palawan -- Social Security System (SSS) President and Chief Executive Officer Emmanuel Dooc on Monday personally issued show cause orders to the allegedly non-compliant proprietors of nine establishments as part of its intensified Run After Contribution Evaders (RACE) campaign. … Read More