Business

30 biz groups from China, HK coming to PH



30 biz groups from China, HK coming to PH



February 14, 2018, 6:08 pm

MANILA -- Investors from Hong Kong and mainland China would be visiting the country in April for a business mission, Hong Kong Chamber of Commerce of the Philippines, Inc. (HKCCPI) President Anthony Chan said. 

Chan shared to the Philippine News Agency (PNA) that the business delegation… Read More

DoubleDragon to build 2nd industrial hub in Iloilo

DoubleDragon to build 2nd industrial hub in Iloilo

February 14, 2018, 4:32 pm

MANILA -- Listed property developer DoubleDragon Properties Corp. is beefing up its market position in the industrial leasing segment by acquiring a 3.9-hectare lot in Iloilo which it will develop into an industrial hub.  DoubleDragon told the local bourse its industrial leasing subsidiary,… Read More

'18 inflation rate seen to stay at 3% level: Diokno

'18 inflation rate seen to stay at 3% level: Diokno

February 14, 2018, 9:08 am

MANILA -- Budget and Management Secretary Benjamin Diokno said there is no reason for people to be worried about the uptick of Philippines’ January 2018 inflation rate to four percent from 3.3 percent last January, citing that economic fundamantals remain intact. “Let’s not get worried about… Read More

Regions outside MM get lion's share in infra projects

Regions outside MM get lion's share in infra projects

February 14, 2018, 9:05 am

MANILA -- Regions outside Metro Manila are getting a big share in the total number of infrastructure programs and projects of the government over the medium-term, the National Economic and Development Authority (NEDA) said. Of the 4,985 total infrastructure programs and projects listed in the… Read More

Jollibee nets P7.1-B in 2017

Jollibee nets P7.1-B in 2017

February 14, 2018, 8:32 am

MANILA -- Homegrown fast-food giant Jollibee Foods Corp. (JFC) posted a 15-percent increase in profit in 2017 to PHP7.1 billion after opening its highest number of new stores.  JFC’s net income attributable to equity holders of its parent firm reached PHP6.2 billion in 2016.For the… Read More

‘Super consortium’ eyes NAIA transformation into a regional hub

‘Super consortium’ eyes NAIA transformation into a regional hub

February 14, 2018, 6:27 am

MANILA -- Seven major conglomerates formally formed Tuesday a consortium that vows to transform the Ninoy Aquino International Airport (NAIA) into a regional airport hub. The NAIA Consortium was formed following the submission of its unsolicited proposal to the Department of Transportation (DOTr)… Read More

Phoenix eyes 60 more stations

Phoenix eyes 60 more stations

February 13, 2018, 9:49 pm

MANILA -- Phoenix Petroleum Philippines Inc. foresees a rosy prospect for this year as it targets to put up 50 to 60 more gasoline stations throughout the country within the year, adding to its 530 stations.“(These are) all over the country, but of course we look for strategic locations which… Read More

 January 2018 inflation uptick not due to TRAIN: DOF exec

January 2018 inflation uptick not due to TRAIN: DOF exec

February 13, 2018, 9:29 pm

MANILA -- Businesses’ compliance to higher taxes on cigarettes and not the impact of tax reform is the main factor for the big jump of Philippines’ inflation rate in January 2018 to 4 percent from 3.3 percent in December 2017. This was the assessment of Finance Undersecretary Karl Chua, who… Read More

Jollibee hikes stake in Smashburger to 85% in USD100-M deal

Jollibee hikes stake in Smashburger to 85% in USD100-M deal

February 13, 2018, 8:24 pm

MANILA -- Homegrown fast food giant Jollibee Foods Corp. (JFC) on Tuesday announced a deal to pay USD100 million to acquire an additional 45-percent stake in  American burger chain.  In a disclosure to the Philippine Stock Exchange (PSE), JFC said through its wholly-owned subsidiary, Bee Good!… Read More

Diokno eyes academe role in macro econ assumptions  setting

Diokno eyes academe role in macro econ assumptions setting

February 13, 2018, 8:21 pm

MANILA- - Budget and Management Secretary Benjamin Diokno is considering to include the academe in budget deliberations on macro economic assumptions to make discussions more transparent.In an interview by journalists after the forum entitled “2017 Open Budget Survey: How Did the Philippines… Read More

PH needs to invest in infra to back electronics growth: SEIPI

PH needs to invest in infra to back electronics growth: SEIPI

February 13, 2018, 6:56 pm

MANILA -- The new industry roadmap of the country’s electronics sector is pushing for investments in infrastructure to support the growth of the industry. In a press conference Tuesday, Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) president Dan Lachica… Read More

PH electronics sector posts record USD32.7-B export in 2017

PH electronics sector posts record USD32.7-B export in 2017

February 13, 2018, 3:59 pm

MANILA -- The country’s electronics sector posted a record export revenue of over USD32 billion in 2017, regaining its strength after the market slowed down in the past six years. Semiconductor and Electronics Industries of the Philippines Foundation Inc. (SEIPI) reported that electronics export… Read More

Reforms facilitate better biz environment, group says

Reforms facilitate better biz environment, group says

February 13, 2018, 9:50 am

MANILA -- Reforms on tax system and bureaucracy rolled out by the Duterte administration helped to have a better environment for businesses in the Philippines, top executive of Hong Kong Chamber of Commerce of the Philippines, Inc. (HKCCPI) said. HKCCPI President Anthony Chan said the lower… Read More

BTr partially awards T-bills after rate upticks

BTr partially awards T-bills after rate upticks

February 12, 2018, 10:09 pm

MANILA -- Banks continue to ask for high yields for government-issued securities, prompting the Bureau of the Treasury’s (BTr) auction committee to partially award Treasury bills Monday. The Committee awarded PHP7.394 billion worth of the shortest-tenor T-bill after bids surpassed the… Read More

PHP,  PSEi finish lower

PHP, PSEi finish lower

February 12, 2018, 10:00 pm

MANILA -- Risk aversion overseas continues to affect Philippine markets, resulting in sustained weakness of the peso and the Philippine Stock Exchange index (PSEi) Monday. The local currency finished the week’s first trading day at 51.77, a PHP0.29 drop from 51.48 at the close of Friday last… Read More

€1-B fund ready for Hungarian firms coming to PH

€1-B fund ready for Hungarian firms coming to PH

February 12, 2018, 9:47 pm



MANILA -- Some one billion euros is available for Hungarian companies eyeing to do business in the Philippines, Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said.

 Rodolfo told reporters Monday the fund will be available through Hungarian Export-Import (EXIM)… Read More

Auto sales growth slows down in Jan

Auto sales growth slows down in Jan

February 12, 2018, 7:38 pm

MANILA -- The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) recorded slower growth in sales of automotive vehicles at the start of the year. A joint report of CAMPI and TMA on Monday showed vehicle sales last month grew 4 percent to… Read More

RFM nets 6% more in 2017 as ice cream, pasta business gets hotter

RFM nets 6% more in 2017 as ice cream, pasta business gets hotter

February 12, 2018, 6:14 pm

MANILA -- Listed food and beverage company RFM Corporation booked a 6-percent increase in profit in 2017 on the back of strong growth of its ice cream and pasta brands. In a disclosure to the stock exchange on Monday, RFM said its net income reached PHP1.064 billion last year from PHP1 billion in… Read More

BOI perks aligned with tax reform package 2

BOI perks aligned with tax reform package 2

February 12, 2018, 4:49 pm

MANILA -- The Board of Investments (BOI) said its fiscal incentives are already aligned with the second package of the Comprehensive Tax Reform Program (CTRP) of the Duterte administration. The CTRP package 2, which follows the Tax Reform for Acceleration and Inclusion (TRAIN) Act, is pushing for… Read More

 SEC warns public vs unregistered retail trade firms

SEC warns public vs unregistered retail trade firms

February 12, 2018, 4:45 pm

MANILA -- The Securities and Exchange Commission (SEC) has warned the public against dealing with unregistered entities, wholly or partly owned by foreign nationals, engaging in retail trade. In an advisory issued Monday, the SEC said it has received numerous complaints or reports about the… Read More