Business
Megaworld eyes P7-B sales from Fort Bonifacio residential tower
July 25, 2018, 7:51 pm
MANILA -- Property developer Megaworld Corp. said that it expects to generate PHP7 billion in sales from the second tower of its residential condominium development in Fort Bonifacio. In a disclosure to the local bourse, Megaworld said it introduced to the market Wednesday the 25-storey… Read More
Security Bank, MUFG Bank host Business Matching Fair 2018
July 25, 2018, 7:37 pm
MANILA -- The partnership of Security Bank Corp. and Tokyo-based MUFG Bank, Ltd. successfully hosted a business networking affair for over 400 firms, which, stakeholders say can only strengthen existing ties between Filipino and Japanese enterprises. On Wednesday, Security Bank and MUFG hosted the… Read More
Japanese firms generally optimistic about PH market
July 25, 2018, 6:41 pm
MANILA -- Japanese companies are generally optimistic about the Philippine market but recent developments have given rise to some concerns, both local and Japanese bankers agree. In a media briefing Wednesday, MUFG Bank, Ltd. Managing Executive Officer and Head of Financial Solutions Group Makoto… Read More
Gov’t to pursue 1-form application: Lopez
July 24, 2018, 9:22 pm
MANILA -- Trade Secretary Ramon Lopez said Tuesday that a one-form application process for transactions with government is currently being pursued by various agencies. This is in response to President Rodrigo Duterte’s call to agencies to improve government’s services to the people. “On EODB… Read More
Makati mass transport system proponent ready for Swiss challenge
July 24, 2018, 7:55 pm
MANILA -- IRC Properties Inc., the proponent of the USD3.7-billion Makati mass transport system, said Tuesday it is prepared to participate and face the competitive challenge process for its proposed project after receiving the go-signal from the local government. In a disclosure to the local… Read More
Financial, capital markets inspired by SONA
July 24, 2018, 7:50 pm
MANILA -- Positive sentiments on President Rodrigo R. Duterte’s statements in his third State of the Nation Address (SONA) lifted both the Philippine Stock Exchange index (PSEi) and the peso Tuesday. PSEi recovered and went up 0.95 percent, or 70.22 points, to 7,447.02 points. It was followed by… Read More
PSBank starts LTNCTD offering
July 24, 2018, 7:19 pm
MANILA -- The Philippine Savings Bank (PSBank) on Tuesday began offering its Long-Term Negotiable Certificates of Time Deposits (LTNCTD), with a tenor of five years and six months. In a disclosure with the Philippine Stock Exchange (PSE), the thrift banking arm of the Metrobank Group said the… Read More
Rice tariffication to lower inflation: NEDA
July 24, 2018, 6:08 pm
MANILA -- The enactment and full implementation of the rice tariffication bill can bring down the prices of rice, benefiting Filipino families, Socioeconomic Planning Secretary Ernesto Pernia said Tuesday. In a statement, the National Economic and Development Authority (NEDA) renewed its call to… Read More
CEZA to open 20,000 fintech jobs
July 24, 2018, 4:50 pm
MANILA -- The Cagayan Economic Zone Authority (CEZA) said about 20,000 jobs in financial technology (fintech) will open up as soon as it awards the initial 25 principal licenses to be made available to qualified fintech companies. In a statement Tuesday, CEZA Administrator and Chief Executive… Read More
PH eyes expanded trade, tourism with India
July 24, 2018, 4:13 pm
MANILA -- Philippine Ambassador to India Teresita Daza expects that relations between the Philippines and India will grow as the two countries explore fresh opportunities in trade, education and tourism. Daza said a group of Filipino businessmen visited New Delhi to scout for market opportunities… Read More
DTI, bizmen no to 'illegal' contractualization, yes to outsourcing
July 24, 2018, 3:32 pm
MANILA -- The Department of Trade and Industry (DTI) threw its support to President Rodrigo Duterte's call for legislation that will end labor contractualization, which he reiterated in his third State of the Nation Address (SONA). In a text message to reporters Tuesday, Trade Secretary Ramon… Read More
Grab asks LTFRB to condone P10-M fine
July 24, 2018, 2:30 pm
MANILA -- Ridesharing firm Grab Philippines disclosed on Monday that it has filed a formal appeal to the Land Transportation Franchising and Regulatory Board (LTFRB) to reverse the PHP10-million fine imposed on it as penalty for charging an unsanctioned PHP2 per minute to its customers. Grab said… Read More
Lower interconnection rates to benefit new telco player: PRRD
July 24, 2018, 10:06 am
MANILA -- Lowering interconnection rates of telecommunication firms will help create a competitive environment for a new player to enter the industry and provide services to the public, President Rodrigo R. Duterte said. “We shall, therefore, lower interconnection rates between all industry… Read More
Duterte warns rice hoarders, cartels
July 24, 2018, 7:42 am
MANILA -- President Rodrigo R. Duterte on Monday issued a stern warning against rice traders engaged in hoarding and cartel operations, who are being blamed for the artificial rice shortage that leads to high rice prices. “I now ask all the rice hoarders, cartels and their protectors, you know… Read More
Do not block tax reforms, Duterte says
July 23, 2018, 8:59 pm
MANILA -- President Rodrigo Duterte on Monday said his administration’s tax reform program should be implemented to achieve sustainable growth, as he urged Congress to immediately pass its second package seeking to lower the corporate income tax and creating millions of jobs for more Filipinos.… Read More
Muslim biz group welcomes imminent passing of Bangsamoro law
July 23, 2018, 8:41 pm
MANILA -- The Bangsamoro Business Club (BBC) is eagerly looking forward to the possible enactment of the Bangsamoro Organic Law (BOL). The bill may be signed into law by President Rodrigo Duterte within 48 hours, it was reported. BBC President Mohamad Omar Pasigan said the Bangsamoro Organic Law… Read More
PRRD hopes tax reform package 2 gets nod by yearend
July 23, 2018, 8:38 pm
MANILA -- President Rodrigo Duterte on Monday urged lawmakers to approve tax reform measures as he called on all sectors not to prevent their implementation since they would ensure that jobs would be made available to Filipinos. In his third State of the Nation Address (SONA), the President said… Read More
Biz leaders back bill to end contractualization
July 23, 2018, 8:32 pm
MANILA -- Business leaders have expressed their support to President Rodrigo Duterte's call to put an end to labor contractualization during his third State of the Nation Address (SONA) on Monday. International Chamber of Commerce-Philippines (ICCP) Founder and Philippine Chamber of Commerce and… Read More
Oil firms to slash pump prices Tuesday
July 23, 2018, 7:59 pm
MANILA -- Local oil firms announced a reduction in pump prices effective 6 a.m. Tuesday (July 24). In separate announcements, Petron, Flying V, Jetti Petroleum, Uniol, Caltex, PTT Philippines, and Phoenix Petroleum said they will implement price rollbacks of PHP1 per liter for diesel, and PHP0.70… Read More
Peso keeps ground, PSEi starts day with drop
July 23, 2018, 7:40 pm
MANILA -- The latest statement by US President Donald Trump regarding his preference for a weaker greenback supported the Philippine peso Monday but the Philippine Stock Exchange index (PSEi) declined after investors took to heart Moody’s concern about the country’s political situation. The… Read More
