Business

PH household goods seen as one of Asia's most attractive markets

PH household goods seen as one of Asia's most attractive markets

March 8, 2018, 8:05 pm

MANILA -- The Philippines is seen as one of the most attractive markets in Asia for household goods, with the market here projected to reach PHP249.7 billion, or around USD5.1 billion by 2022.BMI Research forecast that spending in  household goods in the country may grow 6 percent yearly from… Read More

Non-residential buildings, improvements buoy Q4 construction activity

Non-residential buildings, improvements buoy Q4 construction activity

March 8, 2018, 7:12 pm

MANILA -- Construction activity in the country rose 3.6 percent in the fourth quarter of 2017 on the back of higher building permits approved from non-residential construction and additions to existing structures, latest reports from the Philippine Statistics Authority (PSA) show. Approved… Read More

Jollibee signs deal to acquire add’l stake in Smashburger

Jollibee signs deal to acquire add’l stake in Smashburger

March 8, 2018, 6:48 pm

MANILA -- Homegrown fast food giant Jollibee Foods Corp. (JFC) has signed the agreement to acquire an additional 45-percent stake in the American burger chain for USD100 million. JFC told the local bourse Thursday that its wholly-owned subsidiary, Bee Good! Inc. (BGI), executed the deal with… Read More

Ayala Land-Central Azucarera de Tarlac asset deal gets nod

Ayala Land-Central Azucarera de Tarlac asset deal gets nod

March 8, 2018, 6:37 pm

MANILA -- The Philippine Competition Commission (PCC) has approved the transaction between Ayala Land, Inc. and Central Azucarera de Tarlac. PCC Chairman Arsenio Balisacan said that the planned acquisition by Ayala Land of assets of Central Azucarera de Tarlac is one of the two latest merger and… Read More

PH-China loan signing for infra projects set

PH-China loan signing for infra projects set

March 8, 2018, 6:24 pm

MANILA -- The Philippine government is set to sign agreements with the Chinese government for some of the Duterte administration’s priority infrastructure projects.Finance Undersecretary Edita Tan said the loan agreement signing for the Chico River projects is tentatively scheduled in the third… Read More

DOF signs grant deal for climate change-related projects

DOF signs grant deal for climate change-related projects

March 7, 2018, 9:27 pm

MANILA -- Finance Secretary Carlos G. Dominguez on Wednesday signed agreements with several local government officials whose localities will benefit from the People’s Survival Fund (PSF) and receive grants for the implementation of climate change adaptation programs.The financing agreements,… Read More

ICTSI sets USD380-M capex in 2018

ICTSI sets USD380-M capex in 2018

March 7, 2018, 9:23 pm

MANILA -- Port operator International Container Terminal Services, Inc. (ICTSI) has earmarked a capital spending of USD380 million this year after ending 2017 with a seven-percent increase in profit. In a disclosure to the Philippine Stock Exchange, ICTSI said this year’s capital expenditure… Read More

Construction firm wants to raise P15.5-B thru IPO

Construction firm wants to raise P15.5-B thru IPO

March 7, 2018, 8:01 pm

MANILA --  D.M. Wenceslao & Associates Inc. (DMWAI) , an integrated property developer and construction firm, has  asked the Securities and Exchange Commission (SEC) to allow it to  raise some PHP15.5 billion funds through initial public offering (IPO).DMWAI  plans to offer up to 679.2 million… Read More

 TDF rates up across-the-board

TDF rates up across-the-board

March 7, 2018, 7:59 pm

MANILA -- Rate of the central bank’s Term Deposit Facility (TDF) rose across-the-board Wednesday, with tenders rising above the offering for all three tenors. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that rate of the seven-day facility improved to 3.1767  percent from last… Read More

Aboitiz eyes P148-B upgrade of 4 regional airports

Aboitiz eyes P148-B upgrade of 4 regional airports

March 7, 2018, 7:56 pm

MANILA -- Aboitiz InfraCapital, the infrastructure business unit of the Aboitiz Group, on Wednesday submitted an unsolicited proposal to modernize four regional airports for PHP148 billion over a 35-year concession period, in its bid to support the government’s infrastructure program.  The… Read More

DTI lauds ratification of PH free trade deal with European countries

DTI lauds ratification of PH free trade deal with European countries

March 7, 2018, 7:52 pm

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez has lauded the Senate’s ratification of the country’s free trade agreement (FTA) with four European countries - Liechtenstein, Iceland, Norway, and Switzerland.In a statement Wednesday, Lopez said the Senate’s… Read More

PSEi recovers; peso almost unchanged vs. USD

PSEi recovers; peso almost unchanged vs. USD

March 7, 2018, 7:49 pm

MANILA -- The Philippine Stock Exchange index (PSEi) on Wednesday recovered from a five-day slide while the peso finished the day sideways against the greenback.The main stocks exchange gained 0.53 percent, or 44.47 points, to 8,404.69 points, which a trader traced to bargain hunting after the… Read More

DICT taps PCC to draft guidelines for 3rd telco player

DICT taps PCC to draft guidelines for 3rd telco player

March 7, 2018, 7:45 pm

MANILA -- The Department of Information and Communication Technology (DICT) has tapped the Philippine Competition Commission (PCC) for the drafting of guidelines in selecting the third player in the local telecommunications industry.In a media briefing Thursday, PCC Commissioner Johannes Benjamin… Read More

Employment rate hits record high at 94.7%

Employment rate hits record high at 94.7%

March 7, 2018, 6:15 pm

MANILA -- The number of employed Filipinos increased in January as most sectors created more jobs on the back of sustained economic growth, the government reported Wednesday.The Labor Force Survey (LFS) of the Philippine Statistics Authority (PSA) showed that employment rate surged to 94.7 percent… Read More

Teleperformance vows to open more sites

Teleperformance vows to open more sites

March 7, 2018, 5:57 pm

MANILA -- Teleperformance, the largest business process outsourcing (BPO) company in the Philippines, vows to create more jobs and sites in the country following unveiling Wednesday of a bigger recruitment hub  along Ayala Avenue corner Amorsolo Street in Makati City.Teleperformance Philippines… Read More

Sustained PH econ growth results in buoyant labor market

Sustained PH econ growth results in buoyant labor market

March 7, 2018, 4:56 pm

MANILA – Employment rates surged in January 2018 as the Philippine labor market continued to thrive on the back of sustained economic growth, the National Economic and Development Authority said. In the January 2018 Labor Force Survey (LFS), conducted by the Philippine Statistics Authority,… Read More

Diokno assures 3-year budget for TRAIN-related subsidy

Diokno assures 3-year budget for TRAIN-related subsidy

March 7, 2018, 3:36 pm

MANILA -- Budget and Management Secretary Benjamin Diokno on Wednesday said the government has the budget to finance the extended tax reform cash transfer (TRCT) project, which would be in place until 2020 from the original one-year program only for 2018. TRCT was approved under the first package… Read More

DOF execs eye at least P18-B gain from planned fuel marking

DOF execs eye at least P18-B gain from planned fuel marking

March 6, 2018, 9:27 pm

 MANILA - - Officials of the Department of Finance (DOF) expect to gain at least PHP18 billion from the planned implementation of fuel marking by early 2019.Finance  Assistant Secretary Mark Dennis Joven said the fuel marking’s project cost is around PHP2 billion but studies show that… Read More

D&L Industries eyes double-digit profit growth in 2018

D&L Industries eyes double-digit profit growth in 2018

March 6, 2018, 9:18 pm

MANILA -- D&L Industries Inc., the country’s largest customized food ingredients and oleochemicals firm, expects to sustain double-digit growth in profit this year to at least PHP3.2 billion.D&L President and Chief Executive Officer Alvin Lao said growth would be boosted by the expansion of both… Read More

Average 2018 inflation to rise beyond 2-4% target range - Espenilla

Average 2018 inflation to rise beyond 2-4% target range - Espenilla

March 6, 2018, 9:06 pm

MANILA - - Higher prices of fuel, sugar-sweetened beverages and tobacco as well as electricity rates are seen to push  2018 average inflation in the Philippines to rise beyond the government’s two to four percent target, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr.… Read More