Business
SEC sets up online kiosks for business registration
July 12, 2018, 6:38 pm
MANILA -- The Securities and Exchange Commission (SEC) on Thursday announced the availability of on-line kiosks that allow faster and trouble-free registration of new corporations, partnerships and associations, to enhance ease of doing business in the country. The SEC has put up this month… Read More
SSS invests P3-B in domestic mutual funds
July 12, 2018, 4:52 pm
MANILA -- The state-run Social Security System (SSS) on Thursday disclosed that it invested PHP3 billion of its investment reserve fund (IRF) in three domestic mutual funds in the Philippines, the first time in the history of the pension fund. SSS President and Chief Executive Officer Emmanuel F.… Read More
SEC warns public vs. investing in BOSS Network
July 12, 2018, 4:47 pm
MANILA -- The Securities and Exchange Commission (SEC) on Thursday warned the public against placing their money in Building Our Success Stories (BOSS) Network Inc., an allegedly shady company offering investment contracts and promising profits. “It must be emphasized that the company is not… Read More
Intra-Asian trade boom to shield PH from 'Brexit'
July 12, 2018, 2:44 pm
MANILA -- While fondly anticipated by some and feared by most, "Brexit" is unlikely to register as anything but a faint blip on the Philippines' trade outlook, an economist says less than a year before the United Kingdom (UK) bids the European Union (EU) farewell. IHS Markit Chief Economist for… Read More
Higher food prices due to ‘speculation’, not TRAIN law: DA chief
July 12, 2018, 1:52 pm
MANILA -- Department of Agriculture (DA) Secretary Emmanuel Piñol on Wednesday assured that the government is addressing the high prices of commodities in the market, as he downplayed speculations that the uptick is due to the imposition of the tax reform law. “The TRAIN (Tax Reform for… Read More
Primex to spend P3.6-B for office tower project
July 12, 2018, 11:32 am
MANILA -- Property developer Primex Corporation said Wednesday it will spend PHP3.6 billion for the construction of its 50-storey office tower located at the Greenhills commercial district in San Juan City over the next four to five years. In a disclosure, Primex said it has kicked-off the… Read More
Term deposit facility yields decline
July 12, 2018, 11:26 am
MANILA -- Data from the Bangko Sentral ng Pilipinas (BSP) showed that weighted average accepted yields for term deposit facility (TDF) across all tenors declined on Wednesday’s auction. The central bank awarded in full the seven-day TDF at 3.757 percent rate, lower than last week’s yield of… Read More
DBM pushes Budget Reform Bill
July 11, 2018, 8:43 pm
MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno said Wednesday they will strongly push for the passage of the Budget Reform Bill that seeks to modernize budgetary system in the country, in line with the goal to be one of the top 10 budget institutions in the world.… Read More
DTI: Business registration in NegOcc up by 14% in H1
July 11, 2018, 7:25 pm
BACOLOD CITY -- The number of businesses registered in Negros Occidental in the first six months of 2018 increased by close to 14 percent compared to the registration figures for the same period last year, data from the Department of Trade and Industry (DTI) showed. From 7,566 businesses… Read More
Grab acted in 'good faith' on P2-per-minute charge: LTFRB exec
July 11, 2018, 5:38 pm
MANILA -- Ridesharing firm Grab Philippines acted in good faith when it imposed the PHP2-per-minute charge on its riders, an official of the Land Transportation Franchising and Regulatory Board (LTFRB) said. In her dissenting opinion dated last July 9, LTFRB Board Member Aileen Lizada said the… Read More
Gov’t land granted to Philexport backs export development: DTI chief
July 11, 2018, 4:38 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez on Wednesday affirmed that the land granted by the government to the Philippine Exporters Confederation, Inc. (Philexport) has helped the organization in export development. Lopez told reporters that the Export Development… Read More
PH stays at rank 73 in Global Innovation Index
July 11, 2018, 1:59 pm
MANILA -- The Philippines has maintained its spot in the Global Innovation Index (GII) 2018, ranking 73rd out of 126 economies. The GII, which gauges an economy’s innovation performance through innovation input and output sub-indices, is co-published by World Intellectual Property Organization,… Read More
FDI net inflows reaches USD1-B in April 2018
July 10, 2018, 9:13 pm
MANILA -- Foreign direct investments (FDIs) into the country reached USD1 billion in April 2018 as positive balances were recorded for all FDI components during the month, Bangko Sentral ng Pilipinas (BSP) data show. BSP data released Tuesday show that the bulk of the net inflows in April 2018 was… Read More
Improving export industry to address trade gap: NEDA
July 10, 2018, 8:45 pm
MANILA -- The National Economic and Development Authority (NEDA) underscored the need for the government to implement strategies to improve the export industry in the short to medium term to reduce the country’s trade gap. Socioeconomic Planning Secretary Ernesto Pernia said addressing… Read More
Megaworld’s subsidiary acquires Stateland Inc.
July 10, 2018, 8:38 pm
MANILA -- Megaworld Corp. has acquired real estate firm Stateland Inc. in a bid to expand its land portfolio and own other allied and related properties. Megaworld said the acquisition, through its wholly-owned subsidiary Suntrust Properties, Inc., will allow it to expand its raw land portfolio by… Read More
LTFRB fines Grab P10-M over P2-per minute extra charge
July 10, 2018, 8:17 pm
MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has ordered ride-sharing firm Grab Philippines to pay PHP10 million as penalties for imposing the PHP2-per-minute travel charge to its riders. The LTFRB said Grab should reimburse the charge through rebates for future ride… Read More
CEZA awards first cryptocurrency exchange license to HK firm
July 10, 2018, 7:34 pm
MANILA -- Hong Kong-based Golden Millennial Quickpay Inc. Ltd. (GMQ) has launched its cryptocurrency exchange and financial technology solutions business in the Philippines after securing its license from Cagayan Economic Zone Authority (CEZA). On the sidelines of the 2018 GMQ Global Blockchain… Read More
Group wants duty-free importation of electric vehicle parts
July 10, 2018, 6:30 pm
MANILA -- Electric Vehicle Association of the Philippines (EVAP) president Rommel Juan said the industry is seeking for a zero tariff and duty-free importation of e-vehicle parts in the country to promote local manufacturing and assembly activities of these vehicles. In a press conference during… Read More
DOTr completes 129 port projects, 4 tourism ports in 2 years
July 10, 2018, 6:29 pm
CLARK, Pampanga -- The Department of Transportation (DOTr) has completed 129 commercial port projects under the Philippine Ports Authority (PPA), and four social/tourism ports under its maritime sector in the last two years. In 2016 alone, 68 projects amounting to PHP3.17 billion were completed,… Read More
Cebu Landmasters posts record reservation sales in H1
July 9, 2018, 10:12 pm
MANILA -- Cebu Landmasters Inc. (CLI), the leading Visayas-Mindanao-based developer, will launch fresh inventory in the coming weeks after posting a record-high reservation sales in the first half of 2018. In a disclosure to the stock exchange Monday, CLI said the new projects would be located in… Read More
