Business

Industry road map to boost production of PH coffee

Industry road map to boost production of PH coffee

April 18, 2018, 6:27 pm

MANILA -- The Department of Trade and Industry (DTI) is optimistic that the local production of coffee will increase and coffee products will be more globally competitive with the Philippine Coffee Industry Roadmap 2017-2022, which was signed last month by President Rodrigo Duterte. Trade and… Read More

ARMM okays P1-B integrated cacao project

ARMM okays P1-B integrated cacao project

April 18, 2018, 1:35 pm

COTABATO CITY -- The Regional Board of Investments of the Autonomous Region in Muslim Mindanao (RBOI-ARMM) has approved a PHP1.016 billion integrated cacao plantation project in Barangay Nuyo, Buldon, Maguindanao. On Monday, the board unanimously approved the registration of ChocoInvest Corp. for… Read More

IMF keeps 2018-19 GDP forecasts for PH

IMF keeps 2018-19 GDP forecasts for PH

April 17, 2018, 9:02 pm

MANILA -- The International Monetary Fund (IMF) maintained its 2018 and 2019 growth forecasts for the Philippines in its April 2018 World Economic Outlook (WEO) report, owing to strong domestic demand and public investment, an IMF official revealed. In its latest report, the multilateral agency… Read More

Revenue Regulation on sweetened drinks still under review

Revenue Regulation on sweetened drinks still under review

April 17, 2018, 8:54 pm

MANILA -- The Bureau of Internal Revenue (BIR) has yet to produce a Revenue Regulation (RR) on the newly-adopted excise tax for sugar-sweetened beverages. A BIR official says they are taking their time on the matter so as to address any issue that may crop up. BIR Deputy Commissioner Marissa O.… Read More

LTFRB orders Grab to explain P2 per minute travel charge

LTFRB orders Grab to explain P2 per minute travel charge

April 17, 2018, 8:48 pm

MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has ordered ride-sharing company Grab to explain its fare structure as the board conducted a hearing Tuesday on the supposedly unauthorized PHP2 per minute additional charge. This as Grab disclosed that it has imposed the… Read More

Peso remains firm amid Syria tensions, local stocks down

Peso remains firm amid Syria tensions, local stocks down

April 17, 2018, 7:40 pm

MANILA -- The Philippine Peso was little changed against the Greenback Tuesday but the Philippine Stock Exchange index (PSEi) contracted anew. The local currency finished the day at 52.05 from 52.07 a day ago and a trader attributed this still on geo-political concerns over Syria. The possiblity… Read More

Gov’t is pro-workers, pro- job creation: DTI chief

Gov’t is pro-workers, pro- job creation: DTI chief

April 17, 2018, 7:37 pm

MANILA -- Trade and Industry Secretary Ramon Lopez stressed on Tuesday that the government supports moves to ensure security of tenure among workers, even while fostering an environment that attracts investment, which in turn leads to more jobs. In a text message to reporters, Lopez clarified that… Read More

BTr fully awards 10-year T-bond

BTr fully awards 10-year T-bond

April 17, 2018, 7:28 pm

MANILA -- Banks swamped the auction of the Philippine government’s 10-year Treasury bond (T-bond) Tuesday, resulting in its full award by the auction committee. The Bureau of the Treasury (BTr) offered the debt paper for PHP10 billion and banks tendered a total of PHP17.278 billion worth of… Read More

TRAIN2 creating investment uncertainties: PEZA execs

TRAIN2 creating investment uncertainties: PEZA execs

April 17, 2018, 7:23 pm

MANILA -- The Philippine Economic Zone Authority (PEZA) will insist that certain tax perks made available to investors remain, even as proponents of the Tax Reform for Acceleration and Inclusion's (TRAIN) Package 2 seem dead set to trim perpetual incentives often granted by investment promotion… Read More

World's richest people urged to donate 1% of their wealth to poor

World's richest people urged to donate 1% of their wealth to poor

April 17, 2018, 2:46 pm

MANILA -- Former director general of the Philippine Economic Zone Authority (PEZA) Lilia de Lima challenged the world’s richest people to donate at least 1 percent of their wealth to the poor. “If 1 percent of the world’s richest, can donate 1 percent of their wealth, it could pay the debts… Read More

Asian tech agenda should be people-centered, says Robredo

Asian tech agenda should be people-centered, says Robredo

April 17, 2018, 2:15 pm

MANILA -- Vice President Leni Robredo urged the public and private sectors as well as the academe to focus their respective technology agendas in ensuring that economic growth become truly inclusive. In her keynote speech during the 1st Asian Forum on Enterprise for Society (AFES) in Pasay City… Read More

2nd tax reform package to lure investors: WB economist

2nd tax reform package to lure investors: WB economist

April 16, 2018, 9:48 pm

MANILA -- The second package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP), which is expected to lower corporate income tax rates and rationalize fiscal incentives to investors, can attract the much-sought-after investments necessary to generate jobs, a World Bank (WB)… Read More

BIR partners with BOC  vs. cigarette smugglers

BIR partners with BOC vs. cigarette smugglers

April 16, 2018, 9:02 pm

MANILA -- The Bureau of Internal Revenue (BIR) has teamed-up with the Bureau of Customs (BOC) to jointly run after tobacco smugglers. BIR Commissioner Caesar Dulay said they have partnered with the BOC on this bid because of the latter’s expertise in running after illegal importers of… Read More

 BTr fully awards 91-day T-bill; partially awards 6-month, 1-yr paper

BTr fully awards 91-day T-bill; partially awards 6-month, 1-yr paper

April 16, 2018, 8:59 pm

MANILA -- The Bureau of the Treasury’s (BTr) auction committee made a full award for the benchmark 91-day Treasury bill (T-bill) on Monday but only partially awarded the longer tenors after banks asked for high yields. Rate of the 91-day paper averaged at 3.493 percent, lower than the 3.6643… Read More

PLDT partially divests from Germany's Rocket Internet

PLDT partially divests from Germany's Rocket Internet

April 16, 2018, 8:56 pm

MANILA -- Local telecommunications giant PLDT Inc. has divested part of its shares on German-based Internet company Rocket Internet to help finance its capital expenditures for the year. In its disclosure to the Philippine Stock Exchange (PSE) Monday, PLDT announced that its subsidiary PLDT Online… Read More

Manulife Asset Management eyes 7% GDP growth for 2018

Manulife Asset Management eyes 7% GDP growth for 2018

April 16, 2018, 8:53 pm

MANILA -- Officials of Manulife Asset Management are optimistic for a seven percent growth for the Philippine economy this year due in part to the government’s ambitious infrastructure program. “We think that Philippine GDP (gross domestic product) growth will be close to seven percent.… Read More

Peso, local shares retreat following US air strikes on Syria

Peso, local shares retreat following US air strikes on Syria

April 16, 2018, 8:43 pm

MANILA -- US air stikes against the Syrian regime upped investors’ risk-off sentiment causing both the Philippine peso and the Philippine Stock Exchange index (PSEi) to retreat for the second day in row Monday. The local currency finished the day at 52.07 from 51.95 Friday last week and a trader… Read More

PCC orders Uber, Grab to explain shutdown of Uber ops

PCC orders Uber, Grab to explain shutdown of Uber ops

April 16, 2018, 8:33 pm

MANILA -- The Philippine Competition Commission (PCC) has ordered ridesharing companies Uber and Grab to explain why they failed to maintain their separate business operations which was stipulated in the interim measures. The PCC has imposed interim measures to ensure the credibility of its review… Read More

Dulay optimistic of hitting 2018 collection target

Dulay optimistic of hitting 2018 collection target

April 16, 2018, 6:13 pm

MANILA -- Bureau of Internal Revenue (BIR) Commissioner Caesar Dulay is optimistic the agency will hit its Php2.039 trillion 2018 collections target due to the adoption of several reforms like the easier filing of Income Tax Returns (ITR). On Monday, Dulay personally went to various revenue… Read More

PRRD orders BCDA to complete New Clark City project quickly

PRRD orders BCDA to complete New Clark City project quickly

April 16, 2018, 4:01 pm

MANILA -- The Bases Conversion and Development Authority (BCDA) is ordered by President Rodrigo Duterte to “finish quickly” the construction of New Clark City, which is envisioned to be the country’s first smart, green, and resilient metropolis located in Central Luzon. In a statement… Read More