Business

BSP exec eyes better exports figure for 2018

BSP exec eyes better exports figure for 2018

March 16, 2018, 10:37 pm

MANILA - - Philippine monetary officials are hopeful of the improvement of the country’s exports this year, which in turn will positively impact on the country’s balance of payments (BOP) position. “Now that our trading partners are recovering, that will support exports performance in… Read More

Sokor providing PH with P500-M dies, molds equipment 

Sokor providing PH with P500-M dies, molds equipment 

March 16, 2018, 10:21 pm

MANILA -- The South Korean government is providing the Philippines training equipment for dies and molds worth USD10 million, or PHP500 million. Philippine Economic Zone Authority (PEZA) Director General Charito Plaza told reporters that the agency, the South Korean government, and Philippine Die… Read More

PH, Japan ink USD935-M loan deal for Metro Manila subway project

PH, Japan ink USD935-M loan deal for Metro Manila subway project

March 16, 2018, 8:42 pm

MANILA -- The government of Philippines and Japan signed Friday a loan agreement for the construction of the Metro Manila Subway Project (MMSP), the biggest project under the government’s “Build, Build, Build” program. The initial tranche of the Official Development Assistance (ODA) from the… Read More

Peso, PSEi end week on positive note

Peso, PSEi end week on positive note

March 16, 2018, 8:10 pm

MANILA -- Risk-on sentiment resulted in the positive close of the Philippine peso and the Philippine Stock Exchange index (PSEi) Friday. The local currencyt finished the week at 51.93 from 52.03 a day ago. It opened the day at 52.10 from 52.08 a ago ago. Its opening level was the unit’s weakest… Read More

Peso remains strong vs. USD; PSEi slides anew

Peso remains strong vs. USD; PSEi slides anew

March 15, 2018, 10:16 pm

MANILA -- Political concerns in the US continue to worry investors resulting in the risk-off sentiment even in the Philippine equities market Thursday but the Philippine peso remained strong against the greenback. The local currency finished the day at 52.03, little changed against the 52.07 a day… Read More

Firm's IPO to expand footprints in residential, com'l property marts

Firm's IPO to expand footprints in residential, com'l property marts

March 15, 2018, 10:14 pm

MANILA -- Construction and real estate developer D.M. Wenceslao & Associates Inc. (DMWAI) plans to expand its footprint in residential and commercial property markets, riding on construction opportunities as the government undertakes a massive infrastructure program. DMWAI, which aims to pursue a… Read More

Car sales down in February

Car sales down in February

March 15, 2018, 10:09 pm

MANILA -- Sales of vehicles in the country reached 26,176 units year-on-year in February 2018, down by 3.2 percent from 27,040 units year-on-year in February 2017, Chamber of Automotive Manufacturers in the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported Thursday.… Read More

American Chamber welcomes record-high FDI in PH

American Chamber welcomes record-high FDI in PH

March 15, 2018, 9:05 pm

MANILA -- The American Chamber of Commerce of the Philippines (AmCham) has welcomed the record-high foreign direct investment (FDI) that the country posted in 2017. In a statement Thursday, AmCham said the Philippines has attained a level of attracting FDIs close to its fast-growing member states… Read More

Landbank offers to buy Singapore Exchange’s PDSHC shares

Landbank offers to buy Singapore Exchange’s PDSHC shares

March 15, 2018, 8:20 pm

MANILA -- State-owned Land Bank of the Philippines (Landbank) has offered to buy Singapore Exchange Ltd.’s (SGX) 20 percent stake, or 1.25 million shares, in the Philippine Dealing System Holdings Corp. (PDSHC) at PHP350 apiece. Landbank President Alex Buenaventura has asked the bank’s Board… Read More

SMC recurring net income hits P54.7-B

SMC recurring net income hits P54.7-B

March 15, 2018, 7:25 pm

MANILA -- Diversified conglomerate San Miguel Corp. (SMC) on Thursday said recurring net income grew 10.73 percent last year, bolstered by petroleum, food and beverage businesses. In a statement, SMC said its consolidated recurring net income reached PHP54.7 billion in 2017 from PHP49.4 billion… Read More

China eyes to set up industrial park in PH within 2018-2019

China eyes to set up industrial park in PH within 2018-2019

March 15, 2018, 4:57 pm

MANILA -- China eyes to establish its first industrial park in the country within the year or next year, Chinese Ambassador to the Philippines Zhao Jianhua said Thursday. On the sidelines of China International Import Expo Information Mission, Zhao told reporters that China aims the first… Read More

PH, China aim to balance trade in next 3 to 4 years

PH, China aim to balance trade in next 3 to 4 years

March 15, 2018, 4:51 pm

MANILA -- Government officials of the Philippines and China said the two countries aim to balance their trade within the Duterte administration. On the sidelines of the China International Import Expo (CIIE) Information Mission here Thursday, Department of Trade and Industry (DTI) Secretary Ramon… Read More

Peso keeps ground vs USD; PSEi slips anew

Peso keeps ground vs USD; PSEi slips anew

March 14, 2018, 9:53 pm

MANILA – An anticipation of a 0.2 percent hike in US inflation rate for February 2018 failed to greatly affect the Philippine peso unlike the Philippine Stock Exchange index (PSEi). The local currency finished Wednesday at 52.07 from 52.04 a day ago. A trader said expectations for a rate hike… Read More

Metrobank prices rights offer at P75 per share

Metrobank prices rights offer at P75 per share

March 14, 2018, 9:44 pm

MANILA -- Metropolitan Bank & Trust Company (Metrobank) has priced its stock rights offer at PHP75 per rights share, as it aims to raise PHP60 billion in fresh capital to grow its loan portfolio and support other strategic business initiatives. Metrobank told the local bourse the offer price is… Read More

Wilcon sets P2-B capex for 2018

Wilcon sets P2-B capex for 2018

March 14, 2018, 9:40 pm

MANILA -- Home improvement and construction supplier Wilcon Depot Inc. has earmarked a PHP2-billion capital expenditure this year as it aims for higher revenue growth of 14 to 16 percent amid the rollout of more infrastructure projects in the country. Wilcon Investor Relations Officer Mary Jean… Read More

DBM receives 89 applications for open spaces enhancement grants

DBM receives 89 applications for open spaces enhancement grants

March 14, 2018, 9:20 pm

MANILA –The Department of Budget and Management (DBM) has received some 89 applications for grants to finance enhancement of open spaces around the country under its “Green, Green, Green” program. In a briefing Wednesday, DBM Assistance to Cities Program Manager Julia Nebrija said they have… Read More

PH to launch Panda bond

PH to launch Panda bond

March 14, 2018, 9:15 pm

MANILA -- The Philippines is set to launch its planned RMB 1.46 billion-worth Panda bond soon, Finance Secretary Carlos Dominguez III said. “In a week or so,” Finance Secretary Carlos Dominguez III told reporters Wednesday. The country’s planned renminbi-denominated bond issuance, its… Read More

TRAIN law boosts BIR, BOC revenues in first 2 months

TRAIN law boosts BIR, BOC revenues in first 2 months

March 14, 2018, 8:48 pm

MANILA -- The Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) posted double-digit increase in revenue collections in the first two months of 2018 as a result of the Tax Reform for Acceleration and Inclusion (TRAIN) law. Finance Secretary Carlos Dominguez III, in his speech during… Read More

Ortigas & Co. to build 34-storey office tower in Pasig City

Ortigas & Co. to build 34-storey office tower in Pasig City

March 14, 2018, 8:36 pm

MANILA -- Premier property developer Ortigas & Co., Inc. will build a 34-storey office tower in its newest prime development within the Ortigas central business district in Pasig City. Ortigas & Co. President and Chief Executive Officer Jaime Ysmael said they hope to launch the 349-unit The… Read More

PEZA eyes new type of ecozone

PEZA eyes new type of ecozone

March 14, 2018, 8:21 pm

MANILA -- The Philippine Economic Zone Authority (PEZA) is eyeing a new type of economic zone for the development of the country’s human resources and stronger linkage between industries and the academe through state universities and colleges (SUCs). PEZA Director General Charito Plaza said PEZA… Read More