Business

PH out of US IPR watch list for 5 years

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

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

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

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

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'

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

SoKor businessmen bouyed by summit, call NoKor for more cooperation

SoKor businessmen bouyed by summit, call NoKor for more cooperation

April 27, 2018, 9:19 pm

SEOUL -- About a dozen South Korean businessmen who had operated factories in North Korea erupted in cheers on Friday as they watched a live broadcast of a historic handshake between the leaders of the two rival Koreas ahead of their summit. The emotional reaction underscored expectations among… Read More

BDO hikes LTNCD offering

BDO hikes LTNCD offering

April 27, 2018, 7:08 pm

MANILA -- Sy-led BDO Unibank Inc.(BDO) has raised to P8.2 billion from an earlier P5 billion, the offering of its 5.5 years Long-Term Negotiable Certificates of Deposit (LTNCD) on the back of strong demand. In a disclosure with the Philippine Stock Exchange (PSE) Friday, the bank said… Read More

PH-Kuwait tiff wont affect economy: biz leaders

PH-Kuwait tiff wont affect economy: biz leaders

April 27, 2018, 7:06 pm

MANILA -- Leaders of the Philippines' most influential business groups agree that the current soured relations between Manila and Kuwait is likely to be short-lived and that it is unlikely to produce an economic backlash. The row between the two nations began after Philippine embassy personnel… Read More

Measures to ease doing business now in place: Lopez

Measures to ease doing business now in place: Lopez

April 27, 2018, 5:47 pm

MANILA -- The government has introduced a series of red-tape cutting measures to make it easier for investors to do business in the Philippines, the Department of Trade and Industry (DTI) said. In a statement Thursday, trade and industry Secretary Ramon Lopez said these mechanisms were presented… Read More

S&P revises ratings outlook on PH from Stable to Positive 

S&P revises ratings outlook on PH from Stable to Positive 

April 27, 2018, 8:34 am

MANILA -- Debt rater S&P Global Ratings has revised to Positive from Stable its ratings outlook on the Philippines after citing the country’s continued strong external position and improving policy-making, which led to sustained improvement of its fiscal position and domestic growth, among… Read More

Inflationary effect of expanded tax reform already factored in by BSP

Inflationary effect of expanded tax reform already factored in by BSP

April 26, 2018, 8:36 pm

MANILA -- Analysts are not too worried about the uptick in prices that would almost certainly follow the second phase of government’s tax reform program amid jitters that it would push inflation past the 2 percent to 4 percent target for the 2018-2019 period. Officials of the Bangko Sentral ng… Read More

BSP extends separate SBL for SPEs in priority infra projects

BSP extends separate SBL for SPEs in priority infra projects

April 26, 2018, 8:14 pm

MANILA -- Bangko Sentral ng Pilipinas' (BSP) policy-making Monetary Board (MB) has approved a separate single borrower's limit (SBL) for special purpose entities (SPEs) that will take part in the "Build, Build, Build" program, in an apparent bid to lend financial support to government's ambitious… Read More

PH-UK joint venture seeks to upgrade Iloilo port

PH-UK joint venture seeks to upgrade Iloilo port

April 26, 2018, 8:10 pm

MANILA -- The British Chamber of Commerce Philippines (BCCP) announced that a United Kingdom-based firm in partnership with local terminal operations specialists have come together to signify their interest in developing Dumangas Port in the province of Iloilo. Seasia Logistics Philippines, Inc.… Read More

Russian firms seek business opportunities in PH

Russian firms seek business opportunities in PH

April 26, 2018, 8:01 pm

MANILA -- The Department of Trade and Industry (DTI) said Russian companies are on the lookout for opportunities in the Philippines particularly in the sectors of transport infrastructure, aerospace, iron and steel, automotive, power generation equipment, minerals processing, and agriculture. The… Read More

Metrobank board okays issuance of up to P25-B LTNCD 

Metrobank board okays issuance of up to P25-B LTNCD 

April 26, 2018, 6:00 pm

MANILA -- The Metropolitan Bank & Trust Company (Metrobank) on Thursday announced that its Board of Directors has approved the issuance of up to PHP25 billion worth of 5.5-10-year Long Term Negotiable Certificates of Time Deposits (LTNCD). In a disclosure with the Philippine Stock Exchange (PSE),… Read More

DA, Customs foil onion smuggling

DA, Customs foil onion smuggling

April 26, 2018, 1:13 pm

MANILA -- The Department of Agriculture (DA) and the Bureau of Customs, acting on a tip, foiled the smuggling of onions worth PHP34 million last Monday. The smuggled onions could have affected the livelihood of thousands of onion farmers if it had flooded the market, Agriculture Secretary Emmanuel… Read More

Gov’t support sought to grow clinical research in PH

Gov’t support sought to grow clinical research in PH

April 25, 2018, 8:16 pm

MANILA -- Prospects for the Philippines' clinical research sector is expected to remain rosy in years to come, but government support is imperative to boost business, a Fitch Group unit said in its study. BMI Research said Wednesday that clinical research activities in Asia Pacific will be on the… Read More

GCG to ensure state firms do not compete with private sector

GCG to ensure state firms do not compete with private sector

April 25, 2018, 8:11 pm

MANILA -- The Governance Commission for GOCCs (GCG) vowed to work closely with concerned government agencies in reviewing the mandates of government-owned and controlled corporations (GOCCs) to ensure a level playing field is maintained and that they do not directly compete with the private… Read More

SMIC to spend P90B for expansion in 2018

SMIC to spend P90B for expansion in 2018

April 25, 2018, 7:40 pm

MANILA – SM Investments Corporation (SMIC), the holding firm of the Sy family, has allocated a total of PHP90 billion for capital expenditures (capex) this year to support its expansion program as it looks for more emerging business opportunities. SMIC Senior Vice President of Finance Franklin… Read More