Business

Stay vigilant when shopping online: DTI

Stay vigilant when shopping online: DTI

December 28, 2017, 5:13 pm

MANILA -- Department of Trade and Industry (DTI) Undersecretary Teodoro Pascua has reminded consumers to stay vigilant when shopping online.Pascua encouraged consumers to check red flags of fraudulent online stores and phishing sites that may hack personal information of consumers.“We cannot… Read More

Villar group allots P175-B capex until 2020

Villar group allots P175-B capex until 2020

December 28, 2017, 5:07 pm

MANILA -- The Villar group of companies is allotting PHP175 billion in capital expenditures for the next three years, as it continues to grow its various businesses on the back of a strong economy.Villar Group founder Manuel B. Villar Jr. told reporters about 60 percent of the total capital… Read More

DTI bullish on exports in 2018

DTI bullish on exports in 2018

December 28, 2017, 12:30 pm

MANILA -- The Department of Trade and Industry (DTI) is bullish that the country’s export performance will surpass, if not maintain its growth in 2018.DTI Secretary Ramon Lopez told reporters the increase in investments on manufacturing for exports of goods and services, growing factory… Read More

ABAC welcomes Duterte admin’s achievements

ABAC welcomes Duterte admin’s achievements

December 27, 2017, 12:48 pm

MANILA -- The Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) has welcomed the achievements of the Duterte administration and pushes for strengthening the collaboration between public and private sectors.ABAC, the voice of businesses in APEC, said it has noted the… Read More

MSMEs get lion’s share on DTI’s 2018 budget

MSMEs get lion’s share on DTI’s 2018 budget

December 27, 2017, 11:03 am

MANILA -- Bulk of the budget of the Department of Trade and Industry (DTI) next year is allocated to its projects and programs to help micro, small, and medium enterprises (MSMEs) in the country. DTI Secretary Ramon Lopez said the agency is getting PHP5.8 billion next year under the 2018 General… Read More

AboitizPower receives IMS certification

AboitizPower receives IMS certification

December 26, 2017, 4:48 pm

 MANILA – AP Renewables Inc. (APRI), a subsidiary of AboitizPower recently earned its certification from the Integrated Management Systems (IMS) recognizing APRI geothermal units for its strict adherence to International Organization for Standardization (ISO) codes for the environment and… Read More

Vista Land aims to become integrated mixed-use developer by 2020

Vista Land aims to become integrated mixed-use developer by 2020

December 26, 2017, 4:33 pm

MANILA -- Vista Land & Lifescapes Inc., listed property developer of the Villar family, expects to continue posting double-digit revenue and profit growth, as it aggressively expands in line with its goal to become an integrated mixed-use developer by 2020. Vista Land Chairman Manuel B. Villar Jr.… Read More

DTI wants to speed up EO on PUV modernization

DTI wants to speed up EO on PUV modernization

December 25, 2017, 12:58 pm

MANILA -- The Department of Trade and Industry (DTI) wants to fast-track the creation of an executive order (EO) to support the supply side of the public utility vehicle (PUV) modernization program. DTI Secretary Ramon Lopez said a new EO is needed to fund the agency’s support program for local… Read More

DTI optimistic to retain EU GSP+ status in 2018

DTI optimistic to retain EU GSP+ status in 2018

December 24, 2017, 7:58 pm

MANILA -- The Department of Trade and Industry (DTI) remains highly optimistic that the European Union (EU) will continue to grant the Philippines the benefits of Generalised Scheme of Preferences Plus (GSP+). DTI Secretary Ramon Lopez told reporters that both the Philippines and the EU signaled… Read More

President Duterte vetoes 5 items in 1st tax reform package

President Duterte vetoes 5 items in 1st tax reform package

December 22, 2017, 9:14 pm

MANILA - - Five items in the first package of tax reform were vetoed by President Rodrigo R. Duterte after noting that if implemented these provisions will be detrimental to the government and would violate existing laws.Finance Secretary Carlos Dominguez III, in a briefing Friday, said Malacanang… Read More

BPI issues ’17 Christmas holiday schedule

BPI issues ’17 Christmas holiday schedule

December 22, 2017, 9:12 pm

MANILA - - Branches of Ayala-led Bank of the Philippine Island (BPI) and its thrift banking arm, BPI Family Savings Bank (BFSB), will operate on extended banking hours on the remain weekdays of December 2017 until January 3, 2018.Since last Dec. 8, 119 BPI branches and 49 BFSB branches have been… Read More

Marcventures acquires 18.87% stake in subsidiary MMDC

Marcventures acquires 18.87% stake in subsidiary MMDC

December 22, 2017, 8:29 pm

MANILA -- Listed holding company Marcventures Holdings Inc. (MHI) has acquired five million shares of its wholly-owned subsidiary mine company for PHP50 million, in a bid to improve infrastructure and facilities needed to raise production volume. MHI told the local bourse it subscribed shares of… Read More

Peso, PSEi finish week with gains

Peso, PSEi finish week with gains

December 22, 2017, 7:24 pm

MANILA -- Both the Philippine peso and the main stocks gauge finished the week with gains due to seasonal inflows of remittances for the Christmas holidays and positive expectations on the impact of the tax reform program. The peso ended Friday at 50.14 from Thursday’s 50.24, which a trader said… Read More

Wholesale price hikes slow down in October: PSA

Wholesale price hikes slow down in October: PSA

December 22, 2017, 6:54 pm

MANILA -- Wholesale prices of commodities at the national level increased at a slower pace in October 2017 from the previous month due mainly to the decline in the prices of chemicals and fats index, the Philippine Statistics Authority (PSA) reported on Friday.Data from the PSA indicated that the… Read More

Overseas Filipino Bank may start operations in February '18

Overseas Filipino Bank may start operations in February '18

December 22, 2017, 6:50 pm

MANILA -- Operations of the Overseas Filipino Bank, targeted for working Filipinos overseas, will likely start in February 2018 after the central bank’s policy-making Monetary Board (MB) approved Land Bank of the Philippines’ (Landbank) acquisition of the thrift bank about two weeks ago.“I… Read More

PhilPaSS suspends ops on Dec. 26, Jan. 2

PhilPaSS suspends ops on Dec. 26, Jan. 2

December 22, 2017, 6:23 pm

MANILA -- Operations of Philippine Payments and Settlement System (PhilPaSS) will be suspended on December 26, 2017 and January 2, 2018 in line with Malacanang’s declaration of work suspension in government offices and schools during the said dates.This was announced by PhilPaSS Director Bella… Read More

BSP, PCC sign pact to promote fairer competition among banks

BSP, PCC sign pact to promote fairer competition among banks

December 22, 2017, 5:03 pm

MANILA - - Fair competition among banking industry players got a boost following the signing of a Memorandum of Agreement  between the Bangko Sentral ng Pilipinas (BSP) and the Philippine Competition Commission (PCC) Friday.In a briefing, PCC Chairman Arsenio Balisacan said the pact with the… Read More

Treasurer fears companies will flee Australia in wake of US tax cuts

Treasurer fears companies will flee Australia in wake of US tax cuts

December 22, 2017, 2:16 pm

CANBERRA -- International businesses will leave Australia in the wake of sweeping US tax cuts, the nation's Treasurer warned on Friday. Scott Morrison said that while Australians are at the beach in January, international corporations will be making decisions on whether they will stay in Australia… Read More

NÜWA replaces Crown hotel in City of Dreams

NÜWA replaces Crown hotel in City of Dreams

December 22, 2017, 12:09 pm

MANILA -- Melco Resorts & Entertainment Limited will be replacing Crown Towers Hotels in City of Dreams next year with its new brand of luxury hotel NÜWA. In a statement, Melco said NÜWA will be launched on Jan. 16, 2018 both in its flagship properties City of Dreams in Manila and Macau. “We… Read More

Russian firm eyes manufacturing plant in PH

Russian firm eyes manufacturing plant in PH

December 22, 2017, 12:07 pm

MANILA -- A Russian company is looking into putting up its first manufacturing facility in the Philippines after meeting officials from the Board of Investments (BOI). Department of Trade and Industry (DTI) Secretary Ramon Lopez said Moscow-based BT SVAP LLC visited the BOI last Wednesday, wherein… Read More