Business
Electronics industry to survive tax reforms
September 25, 2018, 9:08 pm
MANILA -- The local electronics industry can survive the scrapping of certain tax perks such as the 5-percent gross income earned (GIE), but radically revamping the Philippine Economic Zone Authority's (PEZA) processes may prove even more worrisome. Maxim Integrated Vice President for Asia Factory… Read More
Corporate income tax cuts won't lead to job losses
September 25, 2018, 8:45 pm
MANILA -- Finance Undersecretary Karl Chua said the removal of certain incentives under the proposed tax reform measure will not result in job losses. In an interview Tuesday after the Senate hearing on the Package 2 of the proposed tax reform, Chua said they have not determined which sectors will… Read More
RCBC Savings Bank to merge with mother unit
September 25, 2018, 8:07 pm
MANILA -- Rizal Commercial Banking Corp.’s (RCBC) Board of Directors has approved the merger of the bank’s subsidiary, RCBC Savings Bank, with RCBC. In a disclosure with the Philippine Stock Exchange (PSE) Tuesday, the bank said the Board’s decision was made on Monday, subject to approval by… Read More
Overseas trade concerns weaken local markets
September 25, 2018, 8:06 pm
MANILA -- Continued trade war concerns weighed heavily on the Philippines’ equities and the peso on Tuesday, with the latter ending the day at its nearly 13-year low against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.37 percent, or 101.44 points, to 7,332.17 points.… Read More
7-year PH T-bond rate up
September 25, 2018, 7:10 pm
MANILA -- The Bureau of the Treasury’s (BTr) auction committee on Tuesday made a partial award for the seven-year Treasury bond (T-bond) amid the spike in interest rates. The rate of the debt paper rose by 110.9 basis points to 7.085 percent from 5.976 percent previously.Deputy Treasurer Erwin… Read More
Book imports, purchases to remain tax-exempt: DOF
September 25, 2018, 2:41 pm
MANILA -- The Department of Finance (DOF) has assured the public on Tuesday that the purchase and importation of books will remain tax exempt under the second tax reform package of the Duterte administration. Finance Undersecretary Karl Kendrick Chua, in a recent news forum, said the value-added… Read More
Peso loses, local stocks gain on Monday
September 25, 2018, 11:11 am
MANILA -- The trade war between United States and China continues to drag the Philippine peso, but the local bourse seems to have worn out the effects of the external headwind. On Monday, Philippine peso continues to depreciate against a U.S. dollar on Monday, closing the day at 54.23 from… Read More
BTr rejects bids for P15-B T-bills
September 24, 2018, 9:22 pm
MANILA -- The Bureau of Treasury (BTr) has rejected all tenders for Treasury bills (T-bills) across three tenors on Monday’s auction. Deputy Treasurer Erwin Sta. Ana said the auction committee opted to be more prudent while waiting for the outcomes of meetings of the Monetary Board (MB) as well… Read More
Major infra projects turning Bulacan into next growth area: PCCI
September 24, 2018, 9:14 pm
MANILA -- The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, sees Bulacan benefiting from major infrastructure projects, specifically those that connect the province to Metro Manila and other areas in Luzon. In a statement Monday, PCCI Chairman… Read More
Gov’t urged to review slot allocation guidelines for new airports
September 24, 2018, 8:06 pm
MANILA -- Government is urged to decide whether to maintain the current system of allocating airport slots or come up with a new one that takes into account the projected competitive environment. In a public forum of Philippine Competition Commission (PCC) Monday, the anti-trust body’s… Read More
Local pump prices up again Tuesday
September 24, 2018, 7:34 pm
MANILA – Price movements in the international petroleum market have prompted local oil companies to increase pump prices anew, the third in as many weeks this month, effective 6 a.m. Tuesday. The price adjustments due to movements in the international petroleum market are simply being passed on… Read More
Supermarkets say it's hard to get permit to sell NFA rice
September 24, 2018, 7:18 pm
MANILA -- The Philippine Amalgamated Supermarkets Association (PAGASA) said members are finding it difficult to secure permits to sell subsidized rice from the National Food Authority (NFA), even it is was government that initiated moves to make it available in supermarkets. This is after PAGASA… Read More
Another airport near NAIA potentially unsafe: AirAsia PH
September 24, 2018, 5:45 pm
MANILA -- Philippines AirAsia, Inc. President and Chief Executive Officer Capt. Dexter Comendador said that developing another airport in the vicinity of Ninoy Aquino International Airport (NAIA) and several other airports in the country will pose added risk to aircraft in flight. In a public… Read More
Cement industry feeling ‘Build Build Build effect’
September 24, 2018, 3:14 pm
MANILA -- The local cement industry is poised to reap the benefits of the government's "Build Build Build" Program, as it gets ready for a major spike in demand for construction supplies because of various infrastructure projects in the pipeline. Republic Cement President Nabil Francis said demand… Read More
NegOcc to hold investment forum in Makati City
September 24, 2018, 11:41 am
BACOLOD CITY -- The provincial government hopes to attract investors in the first “Invest in Negros Business Forum”, which will be held at the Dusit Thani Hotel Manila in Makati City on September 26. The forum will be a side event of the 33rd Negros Trade Fair set on September 25 to 30 at the… Read More
4-day work week possible in BPO industry
September 23, 2018, 4:25 pm
MANILA -- A four-day work week can be possibly implemented in the business process outsourcing (BPO) sector, stakeholders from the industry said. Teleperformance Philippines senior vice president for human capital Jeffrey Johnson said the company is already implementing flexible work arrangements,… Read More
Private sector vital in addressing housing need: NEDA
September 21, 2018, 9:59 pm
MANILA -- The government is tapping the support of the private sector in addressing the country’s housing need, the country’s chief economist said. Socioeconomic Planning Secretary Ernesto Pernia pointed out that housing needs of the country remain a “challenge”, estimated totalling around… Read More
BSP eyes formal governance framework for FX market
September 21, 2018, 9:53 pm
MANILA - - The Bangko Sentral ng Pilipinas (BSP) is studying a formal governance framework that will provide stakeholders with a level playing field and ensure transparency in the foreign exchange market as well. BSP Deputy Governor Chuchi Fonacier said monetary authorities continue to liberalize… Read More
State of calamity declaration to tame inflation after 'Ompong': NEDA
September 21, 2018, 7:49 pm
MANILA -- The declaration of a state of calamity in areas affected by Typhoon ‘Ompong’ can ease inflationary expectations on account of its devastation, the National Economic and Development Authority (NEDA) said on Friday. “At this point, it’s difficult to predict in terms of figures what… Read More
PSEi, Peso end week up tracking overseas counterparts
September 21, 2018, 7:27 pm
MANILA -- Consolidation led the Philippine Stock Exchange index (PSEi) and the Peso to end the week on a positive note amid trade war concerns and ahead of the rate setting meet of the Bangko Sentral ng Pilipinas (BSP) next week. The main equities gauge rose 3.48 percent, or 248.27 points, to… Read More
