Business

Peso holds ground, local stocks shed anew

Peso holds ground, local stocks shed anew

July 16, 2018, 8:05 pm

MANILA -- The Philippine peso finished almost unchanged against the US dollar Monday but the Philippine Stock Exchange index (PSEi) tracked the slide of its regional peers. The local unit finished the week’s first trading day at 53.53 from last Friday’s 53.51 close. A trader pointed this… Read More

SB Corp. taps fintech for P3 lending

SB Corp. taps fintech for P3 lending

July 16, 2018, 8:02 pm

MANILA -- Small Business (SB) Corp., the financing arm of the Department of Trade and Industry (DTI), has tapped financial technology firm CRIF Corp. as its credit development partner (CDP) for government’s Pondo sa Pagbabago at Pag-asenso (P3) microfinance program. In a statement Monday, SB… Read More

PH readies post-Brexit trade talks with UK

PH readies post-Brexit trade talks with UK

July 16, 2018, 6:13 pm

MANILA -- The Department of Trade and Industry (DTI) wants a meeting with British International Trade Secretary Liam Fox to provide clarity to the direction of trade between the Philippines and United Kingdom once it formally exits the European Union (EU) next year. Trade and industry Secretary… Read More

PEZA cites contribution to economy despite 56% investments drop

PEZA cites contribution to economy despite 56% investments drop

July 16, 2018, 4:29 pm

MANILA -- The Philippine Economic Zone Authority (PEZA) revealed that ecozones' contribution to employment and exports remain positive despite a decline in project registrations. As of May this year, direct employment in PEZA-registered firms increased 3.5 percent to 1.39 million jobs from 1.35… Read More

Gov't working on funding mix for Marawi rehab

Gov't working on funding mix for Marawi rehab

July 16, 2018, 3:03 pm

MANILA -- The Philippine government is currently working on the funding mix for PHP52 billion of the five-year PHP62-billion budget for the rehabilitation and reconstruction of the devastated city of Marawi, the Department of Finance (DOF) said in a statement on Monday. Finance Secretary Carlos… Read More

Personal remittances up 4.4% in January-May: BSP

Personal remittances up 4.4% in January-May: BSP

July 16, 2018, 3:02 pm

MANILA -- Personal remittances from Overseas Filipinos (OFs) reached USD2.7 billion in May 2018, 6.1 percent higher than the level posted a year ago. On a cumulative basis, personal remittances for the first five months of the year grew by 4.4 percent year-on-year to reach USD13.2 billion, BSP… Read More

Business intelligence firm sees medium-term economic boost in PH

Business intelligence firm sees medium-term economic boost in PH

July 13, 2018, 8:27 pm

MANILA -- Oxford Business Group (OBG), a global research and consultancy firm, backed forecasts of heightened economic activity in the Philippines in the medium-term as government's ambitious infrastructure program goes into high gear. The Build, Build, Build Program of the Duterte administration… Read More

PSEi sustains rally, peso little changed

PSEi sustains rally, peso little changed

July 13, 2018, 7:39 pm

MANILA -- The Philippine peso ended the week practically unchanged on Friday, but bargain hunting sustained the Philippine Stock Exchange index’s (PSEi) uptrend for the fourth consecutive session. The country's main stocks gauge gained 0.66 percent, or 48.60 points, to 7,399.18 points. Almost… Read More

FPI chair: Trouble at CIIF-OMG threatens PH coco exports

FPI chair: Trouble at CIIF-OMG threatens PH coco exports

July 13, 2018, 7:07 pm

MANILA -- Federation of Philippine Industries (FPI) Chairman Jesus Arranza expressed sadness over the mass resignation of key officials of the Coconut Industry Investment Fund - Oil Mills Group (CIIF-OMG) following the appointment of Rehan Lao as president and chief executive officer, saying this… Read More

LTFRB reiterates legality of P10-M fine vs. Grab

LTFRB reiterates legality of P10-M fine vs. Grab

July 13, 2018, 5:20 pm

MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) on Thursday reiterated that the PHP10 million fine on ridesharing firm Grab Philippines for overcharging due to the PHP2-per-minute travel charge was in accordance with its regulatory function over the fares of… Read More

BSP seeks NBI help to pursue those behind currency hoax

BSP seeks NBI help to pursue those behind currency hoax

July 13, 2018, 4:06 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) has sought the National Bureau of Investigation's (NBI) assistance in tracking down individuals or groups that have been maliciously posting photos of defaced Philippine currencies on social media. This is in connection with recent online and social… Read More

Gov’t priority set on social services, infra spending: DBM

Gov’t priority set on social services, infra spending: DBM

July 13, 2018, 3:40 pm

MANILA -- The Philippine government continues to invest in areas that ensure future economic gains, such as human capital development and public infrastructure. The Department of Budget and Management (DBM) said in a statement Friday that the proposed 2019 national budget gives priority to social… Read More

Manila Water bags P173-M Pagsanjan project

Manila Water bags P173-M Pagsanjan project

July 12, 2018, 7:27 pm

MANILA -- Ayala-led Manila Water Company Inc. won an 18-year contract for the development of a PHP173-million water supply project in Pagsanjan, Laguna. In a disclosure to the Philippine Stock Exchange, the water utility said it received Thursday the notice of award from the Pagsanjan Water… Read More

IPOPHL, DTI extend trademark registration fee waiver

IPOPHL, DTI extend trademark registration fee waiver

July 12, 2018, 7:23 pm

MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) and the Department of Trade and Industry (DTI) are extending the Trademark Registration Incentive Program "Juana Make a Mark" for another year. In a statement Thursday, the extension of the waiver on fees targets to add another… Read More

SEC sets up online kiosks for business registration

SEC sets up online kiosks for business registration

July 12, 2018, 6:38 pm

MANILA -- The Securities and Exchange Commission (SEC) on Thursday announced the availability of on-line kiosks that allow faster and trouble-free registration of new corporations, partnerships and associations, to enhance ease of doing business in the country. The SEC has put up this month… Read More

SSS invests P3-B in domestic mutual funds

SSS invests P3-B in domestic mutual funds

July 12, 2018, 4:52 pm

MANILA -- The state-run Social Security System (SSS) on Thursday disclosed that it invested PHP3 billion of its investment reserve fund (IRF) in three domestic mutual funds in the Philippines, the first time in the history of the pension fund. SSS President and Chief Executive Officer Emmanuel F.… Read More

SEC warns public vs. investing in BOSS Network

SEC warns public vs. investing in BOSS Network

July 12, 2018, 4:47 pm

MANILA -- The Securities and Exchange Commission (SEC) on Thursday warned the public against placing their money in Building Our Success Stories (BOSS) Network Inc., an allegedly shady company offering investment contracts and promising profits. “It must be emphasized that the company is not… Read More

Intra-Asian trade boom to shield PH from 'Brexit'

Intra-Asian trade boom to shield PH from 'Brexit'

July 12, 2018, 2:44 pm

MANILA -- While fondly anticipated by some and feared by most, "Brexit" is unlikely to register as anything but a faint blip on the Philippines' trade outlook, an economist says less than a year before the United Kingdom (UK) bids the European Union (EU) farewell. IHS Markit Chief Economist for… Read More

Higher food prices due to ‘speculation’, not TRAIN law: DA chief

Higher food prices due to ‘speculation’, not TRAIN law: DA chief

July 12, 2018, 1:52 pm

MANILA -- Department of Agriculture (DA) Secretary Emmanuel Piñol on Wednesday assured that the government is addressing the high prices of commodities in the market, as he downplayed speculations that the uptick is due to the imposition of the tax reform law. “The TRAIN (Tax Reform for… Read More

Primex to spend P3.6-B for office tower project

Primex to spend P3.6-B for office tower project

July 12, 2018, 11:32 am

MANILA -- Property developer Primex Corporation said Wednesday it will spend PHP3.6 billion for the construction of its 50-storey office tower located at the Greenhills commercial district in San Juan City over the next four to five years. In a disclosure, Primex said it has kicked-off the… Read More