Business
SMEs get big tax breaks under TRAIN
July 18, 2018, 5:21 pm
MANILA -- Small and medium enterprises (SMEs) received tax breaks amounting to billions of pesos for the first six months of 2018 alone under the Tax Reform for Acceleration and Inclusion (TRAIN) Act as they are now covered by a higher value-added tax (VAT) threshold and can now choose from two… Read More
TDF rates register mix results Wednesday
July 18, 2018, 5:03 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) posted mixed results on Wednesday as banks continue to weigh their options vis-à-vis the impact of latest economic developments here and abroad. Data released by the central bank showed that average rate of… Read More
Middle East firms eye franchising of Filipino brands
July 18, 2018, 4:14 pm
MANILA -- Companies from the Middle East are eyeing to bring Filipino brands to their continent, Philippine Franchise Association (PFA) Director Sam Christopher Lim revealed on the sidelines of the Franchise Asia Philippines (FAPHL) 2018 International Conference in Pasay City Wednesday. Lim noted… Read More
LTFRB orders Hype to explain P2-per-minute charge
July 18, 2018, 2:58 pm
MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has issued a show cause order to new ride-sharing firm Hype Transport Systems Inc. for reportedly imposing a PHP2-per-minute travel charge. The Board said that Hype should explain, within five days from receipt of the… Read More
India seeks increased trade, tourism ties with PH
July 18, 2018, 1:57 pm
NEW DELHI, India -- India is vigorously pushing for increased trade and tourism ties with the Philippines, as the country is turning to Southeast Asia to accelerate its economic development through its “Act East” policy. Additional Director of the Indian Chamber of Commerce Bodhisattwa… Read More
Car importers bare 11% sales dip in H1
July 18, 2018, 1:48 pm
MANILA -- Sales of imported automotive vehicles in the country declined by 11 percent in the first half of the year to 43,138 units from 48,344 units in the same period in 2017, car importers disclosed. The Association of Vehicle Importers and Distributors (AVID) reported Wednesday that the… Read More
Chinese steel firm scouts 300-ha land for USD3.5-B project
July 17, 2018, 7:14 pm
MANILA -- A Chinese steel manufacturer is looking for a 300-hectare parcel of land in the Philippines, preferably in Mindanao, for its USD3.5-billion investment project in the country. Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said the Panhua Group seeks to put up an… Read More
Peso, PSEi improve on positive news overseas
July 17, 2018, 7:12 pm
MANILA -- The drop in world crude prices broke the prolonged slide of the Philippine peso against the greenback while local stocks recouped recent loses in Tuesday's trading. The local unit ended the day at 53.39, an improvement from the previous day’s 53.53 close, which a trader said is in line… Read More
PEZA seeks charter amendment
July 17, 2018, 7:11 pm
MANILA -- Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said there is a need to amend the PEZA law, so the investment promotions agency (IPA) will be protected from uncertainties brought about by the second package of Tax Reform for Acceleration and Inclusion (TRAIN).… Read More
Economist discounts remittance-related boost for peso
July 17, 2018, 6:22 pm
MANILA -- An economist of ING Bank Manila does not expect the Philippine peso to get enough boost from Overseas Filipino Workers (OFWs) despite "within-target" remittance growth as of May 2018. The peso closed Tuesday at 53.39 to a US dollar, an improvement from the previous day’s 53.53. On… Read More
Vehicle sales down by 13% in H1 2018
July 17, 2018, 6:19 pm
MANILA -- The combined vehicle sales of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) member firms in the January to June period declined by 12.7 percent this year to 171,352 units from 195,772 units in 2017. This, after sales of… Read More
BTr rejects bids for 7-year T-bond
July 17, 2018, 6:19 pm
MANILA -- The Bureau of the Treasury’s (BTr) auction committee on Tuesday rejected all bids for the seven-year Treasury bond (T-bond) after investors asked for high yields on expectations of further hikes in interest rates in the near term. BTr offered the debt paper for PHP15 billion but… Read More
DTI rolls out livelihood kits for Marawi folk
July 17, 2018, 3:49 pm
MANILA -- The Department of Trade and Industry (DTI) will roll out more livelihood starter kits for residents of war-ravaged Marawi City, following the Department of Budget and Management’s (DBM) approval of PHP872.7 million in funding under the government’s Bangon Marawi program. On Monday,… Read More
AFP, PCG may augment BOC anti-smuggling task force
July 17, 2018, 2:51 pm
MANILA -- The Bureau of Customs (BOC) is in talks with the Armed Forces of the Philippines (AFP) and the Philippine Coast Guard (PCG) regarding plans to expand its anti-smuggling task force by teaming up with these agencies to further strengthen the campaign against the illicit trade, the… Read More
Build, Build, Build 'light-years ahead,' economist says
July 16, 2018, 9:34 pm
MANILA - - The Philippines’ journey towards becoming a first world country is further gaining ground as the Duterte administration pushes through with its ambitious infrastructure program, a noted economist said. University of Asia and the Pacific (UA&P) co-founder and economist Dr. Bernardo M.… Read More
Oversight body's guidelines for 3rd telco out on Friday
July 16, 2018, 9:33 pm
MANILA -- The terms of reference (TOR) governing the entry of that elusive third player in the local telecommunications industry is set to be known on Friday. This, after an inter-agency oversight committee finally concludes its deliberations on which of two proposed TORs will be applied. The… Read More
FMIC execs keep PH ’18 output projection at 7-7.5%
July 16, 2018, 9:30 pm
MANILA -- First Metro Investments Corporation (FMIC) officials remain bullish about the Philippine economy despite rising inflation, keeping its 2018 growth projection between 7 to 7.5 percent. This optimism is reportedly due to expectations of strong domestic demand, government infrastructure… Read More
PH T-bill rates up on inflation concerns
July 16, 2018, 8:09 pm
MANILA -- Worries about rising inflation and the impact of further interest rate hikes both here and overseas evidently pushed Philippine Treasury bills to go the same direction on Monday. Average rate of the bellwether 91-day bill rose to 3.291 percent from last week’s 3.308 percent. National… Read More
Gasoline prices up, diesel down slightly on Tuesday
July 16, 2018, 8:08 pm
MANILA -- Motorists face bitter-sweet adjustments in the prices of petroleum products, as local oil firms get set to once again shake up prices effective 6 a.m. Tuesday (July 17). In separate announcements, oil companies announced a PHP0.30 per liter increase in the price of unleaded gasoline,… Read More
Peso holds ground, local stocks shed anew
July 16, 2018, 8:05 pm
MANILA -- The Philippine peso finished almost unchanged against the US dollar Monday but the Philippine Stock Exchange index (PSEi) tracked the slide of its regional peers. The local unit finished the week’s first trading day at 53.53 from last Friday’s 53.51 close. A trader pointed this… Read More
