Business
DBM assures higher UCT, military pension in 2019
May 2, 2018, 12:07 pm
MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno on Wednesday expressed confidence that the budget proposal for 2019 could provide enough funding for the increase in the unconditional cash transfers (UCTs) and pension for military retirees. During the regular forum… Read More
DBM to release P490-M fund for Boracay road rehab
May 2, 2018, 11:26 am
MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno has announced that the national government is releasing PHP490 million for the rehabilitation of the Boracay Circumferential Road. This is on top of the initial budget of PHP50 million allocated under the 2018 fund of… Read More
Meralco Q1 income up 7% at P4.9-B
April 30, 2018, 9:17 pm
MANILA -- Manila Electric Company (Meralco) on Monday announced an unaudited Consolidated Core Net Income for the first quarter of 2018 of PHP4.9 billion or 7 percent higher than the same period last year. The firm's Consolidated Reported Net Income for the first quarter is PHP5.3 billion, 10… Read More
Oil pump prices rise on Labor Day
April 30, 2018, 8:49 pm
MANILA -- Oil firms have announced increase in pump prices effective May 1, Labor Day. Effective 12:01 a.m., Petron will carry a price hike of PHP1.90 per kilogram for liquefied petroleum gas, and PHP1.05 per liter for AutoLPG. Starting 6 a.m., Petron, Jetti, TOTAL, Eastern Petroleum, Phoenix… Read More
Peso, local stocks firm up
April 30, 2018, 8:37 pm
MANILA -- The Philippine peso gained strength against the greenback while the Philippine Stock Exchange index (PSEi) bounced back to the 7,800-mark on Monday, right before the market takes a one-day break for Labor Day. The local currency finished the day's trade at 51.74 from last Friday's… Read More
Link ASEAN e-payment networks: Espenilla
April 30, 2018, 7:55 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla raised the possibility of linking instant payment networks within member states of the Association of Southeast Asian Nations (ASEAN) to enable cross-border payments, following the launch of the country's second automated… Read More
PCSO posts P16-B revenues in Q1 2018
April 30, 2018, 5:39 pm
LIPA CITY, Batangas - The Philippine Charity Sweepstakes Office (PCSO) posted PHP 15,983,404,422 revenues in the first quarter this year, according to PCSO General Manager Alexander Balutan during the media forum held Saturday at the Mount Malarayat Golf & Country Club Conference Hall here.… Read More
BSP adjusts April inflation forecast 'slightly upward'
April 30, 2018, 5:32 pm
MANILA -- The Department of Economic Research of the Bangko Sentral ng Pilipinas (BSP) has adjusted its inflation rate forecast this month, placing it at the 3.9 percent to 4.7 percent range and calling the move a ”slight upward revision.” In a statement Monday, the BSP attributed the higher… Read More
BCDA opens bidding for Clark airport operator
April 30, 2018, 5:27 pm
MANILA -- The state-owned Bases Conversion and Development Authority (BCDA) has opened the bidding for the operations and management (O&M) contract of Clark International Airport Monday. This followed the National Economic and Development Authority (NEDA) Board's recent approval the… Read More
Ease of Doing Business law will raise PH's global ranking
April 30, 2018, 5:25 pm
MANILA -- Hopes are high that the expected passage of The Ease of Doing Business and Efficient Government Service Delivery Act of 2018 will help improve the country's ranking in the World Bank and International Finance Corporation's (IFC) 2019 Doing Business Report. Trade and Industry… Read More
Office space demand seen to drive real estate growth
April 29, 2018, 8:19 pm
MANILA -- Global real estate consulting firm JLL expects steady and continuing growth for the Philippine real estate sector this year, mainly on the back of the stable demand for office spaces with the country’s strong economic growth. JLL Philippines Country Head Christophe Vicic said the high… Read More
Sta. Lucia allots P15-B property capex for next 3 years
April 29, 2018, 4:58 pm
MANILA -- Property developer Sta. Lucia Land Inc. (SLI) targets to spend over PHP15 billion in the next three years to support the rollout of more real estate projects, after posting record-breaking sales in the first quarter. SLI President Exequiel Robles said its capital expenditure (capex)… Read More
Bank exec urges PH workforce to prepare for blockchain tech
April 29, 2018, 4:56 pm
MANILA -- Filipinos are urged to develop skills on blockchain programming, as the skill set for this technology is seen to be in demand in the coming years, a local bank’s executive said. Blockchain is a digital ledger with a large network of entities, where data is stored in “blocks” -- not… Read More
Future-proofing Filipino workforce with tech skills
April 29, 2018, 2:17 pm
MANILA -- Local real estate firm ArthaLand Corporation has partnered with global game development company Unity Technologies to open Creator Center of Excellence in the country that aims to equip Filipinos with technological skills. The first Creator Center of Excellence facility is located at the… Read More
PH out of US IPR watch list for 5 years
April 29, 2018, 7:48 am
MANILA -- The Philippines continued to stay off the Special 301 Report of the United States Trade Representative (USTR) for five consecutive years already since 2014. The USTR IP rights watch list even recognized the Philippines, along with developed countries such as Canada and Japan, for having… Read More
PhilRice expands knowledge bank for rice industry
April 28, 2018, 10:30 am
MANILA -- The Philippine Rice Research Institute (PhilRice) introduced to the public on Friday its latest batch of information materials, which aim to further promote competitiveness in the country's rice industry. The freshly-launched materials consist of briefers, magazines, and a book titled,… Read More
S&P's positive outlook rating buoys PH financial markets
April 27, 2018, 9:29 pm
MANILA -- The Philippine peso ended the week much improved against the US dollar, back at the 51-to-the-greenback level while the Philippine Stock Exchange index (PSEi) sustained its rally for the second day in a row on improvements in risk sentiment. The local currency ended this week at 51.965… Read More
More credit rating upgrades in store for PH
April 27, 2018, 9:28 pm
MANILA -- An economist of ING Bank Manila forecasts further upgrades by Standard & Poor’s (S&P) of its credit rating on the Philippines after Thursday night’s outlook revision from "Stable" to "Positive." The debt rater’s latest decision on the Philippines was made on back of sustained… Read More
Security Bank to close most branches on Labor Day
April 27, 2018, 9:25 pm
MANILA -- Almost all branches of Security Bank will be closed on May 1, 2018 in line with the Labor Day holiday, the bank's management announced Friday. In an advisory, the bank said only its branches at the Ninoy Aquino International Airport (NAIA) and NAIA Terminal 3 will be in operations… Read More
S&P upgrades DBP's rating outlook to 'Positive'
April 27, 2018, 9:23 pm
MANILA -- Credit rater Standard & Poor’s (S&P) has also revised its ratings outlook on state-owned Development Bank of the Philippines (DBP) from Stable to Positive at the heels of the same decision on the sovereign Thursday. In a statement Friday, it also affirmed the bank’s long-term issuer… Read More
