Business
P1.4-B biomass plant to rise in Bukidnon
April 25, 2018, 11:28 am
MALAYBALAY CITY -- Preparation is underway for a P1.4 billion proposed 12MW biomass power plant to be constructed at Purok 2, Dicklum in Manolo Fortich town in Bukidnon. The biomass power plant is proposed by Green Acres Development Energy Corp. (GAREC), whose business office is in Manolo Fortich.… Read More
Grab drivers to no longer see rider destinations starting Friday
April 24, 2018, 8:27 pm
MANILA -- Drivers of ridesharing firm Grab Philippines will no longer see passenger destinations starting Friday, April 27, which will lead to reducing the incidents of cancelled booked trips. Grab will also launch an auto-accept feature that will automatically allocate trips to drivers allowing a… Read More
SM Prime sets P80-B capex for 2018
April 24, 2018, 7:41 pm
MANILA -- Property giant SM Prime Holdings, Inc. is earmarking PHP80 billion in capital expenditure this year mainly to expand its mall and residential businesses, as it targets to sustain its winning streak of double-digit growth in profits. SM Prime President Jeffrey Lim said it aims to open… Read More
DTI's business mentorship program goes to the countryside
April 24, 2018, 7:36 pm
MANILA -- The Department of Trade and Industry (DTI) is intensifying its efforts to attract micro, small, medium enterprises (MSMEs) in the countryside to take part and benefit from its business mentorship program dubbed, Kapatid Mentor ME. In a statement Tuesday, Trade and industry Secretary… Read More
Peso, local stocks continue slide due to rise of US Treasury yield
April 24, 2018, 7:26 pm
MANILA -- Risk-off sentiment still prevails at the Philippines’ financial and capital markets Tuesday resulting in the slight weakness of the Peso and the sustained decline of the local stocks gauge. The local currency finished the day at 52.32 from 52.24 Monday, which a trader said was due to… Read More
Boracay closure to have minimal effect on GDP: Pernia
April 24, 2018, 7:13 pm
MANILA -- Socioeconomic Planning Secretary Ernesto Pernia does not see that the six-month closure of Boracay Island will be hitting the country’s economy hard since there are other world-class destinations in the Philippines that can serve as alternatives. Following the meeting of the… Read More
Lower corporate taxes to lure HK firms to PH
April 24, 2018, 7:09 pm
MANILA -- The lowering of corporate income tax (CIT) rates had been seen to attract more investments from Hong Kong-based companies, Hong Kong Chamber of Commerce of the Philippines, Inc. (HKCCPI) President Anthony Chan said. On the sidelines of the Hong Kong Trade Development Council (HKTDC)… Read More
DBCC adjusts medium-term macroeconomic targets
April 24, 2018, 6:16 pm
MANILA -- Economic managers on Tuesday adjusted some medium-term macroeconomic targets in view of fresh developments in both the domestic and international fronts. In a briefing, Budget Secretary Benjamin Diokno said the peso-dollar exchange rate assumption for 2018-2022 was adjusted upward to… Read More
Oil firms to hike prices Tuesday
April 23, 2018, 9:42 pm
MANILA -- Oil firms will hike pump prices effective 6 a.m. on Tuesday (April 24). Motorists can expect a PHP0.40 per liter increase for gasoline and PHP0.65/liter rise for diesel from Eastern Petroleum and Phoenix Petroleum. Seaoil and Petron will carry the same price adjustments for diesel and… Read More
Local T-bill rates up anew
April 23, 2018, 9:15 pm
MANILA -- Banks continue to prefer shorter-dated Philippine Treasury bills, resulting in the partial award of the longer-tenor securities. The rate of the benchmark 91-day Treasury bill rose to 3.597 percent during the auction by the Bureau of the Treasury (BTr) Monday. This is higher than the… Read More
Peso, local shares retreat on risk-off sentiment
April 23, 2018, 8:57 pm
MANILA -- Risk-off sentiment reigned over the Philippines' financial and capital markets Monday resulting to the weak close of the peso and the decline of the main stocks gauge. The local currency finished the day at 52.24 from 52.095 Friday last week. A trader attributed this to rising US… Read More
BSP launches second automated clearing house
April 23, 2018, 8:38 pm
MANILA -- Bangko Sentral ng Pilipinas' (BSP) goal of coursing at least 20 percent of local payment transactions through electronic channels just got another big boost with Monday's launch of another automated clearing house (ACH) called InstaPay. InstaPay is the second ACH under the central… Read More
DTI seeks P300-M to help Boracay businesses affected by closure
April 23, 2018, 7:16 pm
MANILA -- Trade and Industry Secretary Ramon Lopez said Monday that the agency will be seeking PHP300 million from government’s Boracay rehabilitation fund to assist small-scale enterprises that will be affected by the tourist trap's planned 6-month closure. He added that Department of Trade and… Read More
'Franchise Negosyo' opens opportunities for MSMEs in CDO
April 23, 2018, 7:13 pm
CAGAYAN DE ORO CITY -- The Philippine Franchise Association (PFA) initiated a meet and match between franchisors and potential franchisees in apparent hopes of tapping into latent business opportunities in this southern city. "Franchise Negosyo Para Sa Cagayan de Oro, was a business… Read More
Healthcare provider bullish on Mindanao’s huge market
April 23, 2018, 4:58 pm
DAVAO CITY – The Health Maintenance Organization (HMO) is bullish on Mindanao’s huge market as it committed to invest on the island through medical network. Maxicare Healthcare Corp. president and chief executive officer Christian Argos is counting on Mindanao’s big market for the company's… Read More
Pack! Pinas launched to improve MSME packaging
April 23, 2018, 3:46 pm
MANILA -- The Department of Trade and Industry (DTI) is urging micro, small, and medium enterprises (MSMEs) to improve the packaging of their products to be more competitive both in the domestic and international markets. Trade and Industry Secretary Ramon Lopez led the launching of a… Read More
Local pharma sector to become a P200-B industry by 2022: BMI Research
April 23, 2018, 3:42 pm
MANILA -- The Philippine pharmaceutical sector is expected to grow into a PHP198.9-billion industry by the year 2022 from its current value of PHP162.3 billion, a unit of Fitch Group forecasted. BMI Research reported Monday that its optimism is founded on the country's growing and ageing… Read More
Trip cancellations due to suspension of P2-per-minute charge: Grab
April 23, 2018, 3:34 pm
MANILA -- Ridesharing firm Grab Philippines said the increase in the number of cancelled trips by its drivers was brought about by the suspension of the Land Transportation Franchising and Regulatory Board (LTFRB) of the PHP2-per-minute travel charge. Grab said its driver cancellation rate doubled… Read More
Grab suspends, bans drivers over cancelled trips
April 23, 2018, 2:51 pm
MANILA -- Ridesharing firm Grab Philippines has sanctioned some 500 drivers following its investigation of complaints of drivers cancelling booked trips of its passengers. Grab assured that it will continue to intensify its campaign to purge abusive drivers among its ranks in order to better serve… Read More
Filipinos urged to invest in stock market
April 22, 2018, 8:57 pm
MANILA -- An online stock and mutual fund platform is encouraging more Filipinos to invest their hard-earned money in stocks, and play a key role in the growth of the country’s capital markets. Dino Bate, President and Chief Executive Officer of COL Financial Group Inc., attributed the weakening… Read More
