Business

BCCP says easing of retail trade policies will lure more UK brands

BCCP says easing of retail trade policies will lure more UK brands

April 25, 2018, 6:03 pm

MANILA -- Further liberalizing of the retail sector will attract more brands from United Kingdom to come to the Philippines, British Chamber of Commerce Philippines (BCCP) Chairman Chris Nelson said Wednesday. Nelson told reporters in a briefing that certain British brands have set their sights on… Read More

TDF rates rise across-the-board

TDF rates rise across-the-board

April 25, 2018, 5:46 pm

MANILA -- Rates of all tenors of the Bangko Sentral ng Pilipinas’ Term Deposit Facility (TDF) rose Wednesday, even after undersubscription was posted by the 28-day facility. Data released by the central bank showed that rate of the seven-day TDF going up to 3.4397 percent from 3.3967 percent in… Read More

British Chamber applauds TRAIN-2, seeks one-time tax cut

British Chamber applauds TRAIN-2, seeks one-time tax cut

April 25, 2018, 5:02 pm

MANILA -- The British Chamber of Commerce Philippines (BCCP) threw its support to the government’s tax reform program, noting that this will raise the country’s competitiveness in the region. In a media briefing Wednesday, BCCP Chairman Chris Nelson said British firms doing business in the… Read More

Bt eggplant’s long journey to market

Bt eggplant’s long journey to market

April 25, 2018, 11:40 am

DAVAO CITY -- She has grown more white hairs and soon, she will be bowing out of service. But Dr Desiree Hautea, project leader of Bt Eggplant, never lost hope on the commercialization of the genetically-modified eggplant. Hautea is hopeful the Bt eggplant will finally reach the market before she… Read More

P1.4-B biomass plant to rise in Bukidnon

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

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

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

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

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

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

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

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

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 

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 

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

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

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

'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

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

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