Business

BSP revises down PH balance of payment for 2017

BSP revises down PH balance of payment for 2017

December 15, 2017, 10:53 pm

MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) has revised down the expected deficit in the country’s balance of payment (BOP) position for 2017 to USD1.4 billion from USD500 million last June. In a briefing, BSP Deputy Governor Diwa Guinigundo said higher… Read More

Peso stays firm vs. USD; PSEi slips after 2-day rally

Peso stays firm vs. USD; PSEi slips after 2-day rally

December 15, 2017, 5:57 pm

MANILA - - The Philippine peso ended the week little changed against the US dollar but the main equities index ended its rally due to profit-taking. The local currency finished Friday at 50.445 from 50.47 a day ago,  which a trader pointed to investors’ risk-on sentiment after the Federal… Read More

ADB approves USD380-M loan for Mindanao road project

ADB approves USD380-M loan for Mindanao road project

December 15, 2017, 5:54 pm

MANILA -- The Asian Development Bank (ADB) has approved a USD380-million loan to help the Philippine government finance a project meant to improve the road network and spur economic development in Mindanao.The Improving Growth Corridors in Mindanao Road Sector Project, ADB’s biggest… Read More

Martial law extension won’t affect PH economy: NEDA

Martial law extension won’t affect PH economy: NEDA

December 15, 2017, 7:49 am

MANILA -- The National Economic and Development Authority (NEDA) is optimistic that the one-year extension of martial law in Mindanao will not adversely affect the economy. “If we go by the experience in Marawi, it’s going to be neutral at worst. It could boost investor confidence if it’s… Read More

6 projects up for NEDA board approval next year

6 projects up for NEDA board approval next year

December 14, 2017, 10:43 pm

MANILA -- The National Economic and Development Authority (NEDA) board is set to deliberate on six infrastructure projects, including the PHP37.6 billion worth of new projects for approval next year. “NEDA approved 20 projects this year and we expect to have six more. The six projects we are… Read More

ZALORA, Ayala Group announce enhanced tie-up

ZALORA, Ayala Group announce enhanced tie-up

December 14, 2017, 8:41 pm

MANILA -- Officials of online fashion shopping site ZALORA and Ayala Group are banking on Filipinos strong presence on various online sites to boost their business by providing seamless shopping experience. In a briefing Thursday, ZALORA Group CEO Parker Gundersen said their tie-up with Ayala… Read More

PSEi up, peso stays flat amid Fed rate hike

PSEi up, peso stays flat amid Fed rate hike

December 14, 2017, 8:25 pm

PSEi up, peso stays flat amid Fed rate hike MANILA - - The Philippine Stock Exchange index (PSEi) rose for the second day in a row Thursday while the peso finished almost unchanged on  expected rise in the Federal Reserve rates. PSEi rose by 1.21 percent, or 101.45 points, to 8,461.06 points,… Read More

BSP keeps rates steady

BSP keeps rates steady

December 14, 2017, 6:26 pm

MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Thursday maintained anew the central bank’s key rates after noting that inflation environment remains broadly unchanged. The rate of the reverse repurchase (RRP) facility is still at 3 percent, the repurchase… Read More

ADB upgrades PH growth forecasts for 2017, 2018

ADB upgrades PH growth forecasts for 2017, 2018

December 14, 2017, 8:13 am

MANILA -- The Asian Development Bank (ADB) has upgraded its gross domestic product (GDP) growth forecasts for the Philippines this and next year on the surge of the government’s infrastructure program. The ADB also expect the country to remain the fastest growing economy in Southeast Asia. ADB… Read More

BSP scraps 28-day TDF offering for Dec. 20 auction

BSP scraps 28-day TDF offering for Dec. 20 auction

December 13, 2017, 8:30 pm

 MANILA -- The Bangko Sentral ng Pilipinas (BSP) will not be offering the 28-day Term Deposit Facility (TDF) during the auction on Dec. 20 as it continues to be less attractive to banks. Data released by the central bank Wednesday showed that only the seven-day facility will be offered  for… Read More

DTI capacitates Negros exporters, SMEs

DTI capacitates Negros exporters, SMEs

December 13, 2017, 8:25 pm

BACOLOD CITY -- At least 60 exporters and small and medium enterprises (SMEs) in Negros Occidental attended the Capacity Building Seminar for Information and Technology-Business Process Management (IT-BPM) Services initiated by the Department of Trade and Industry (DTI). The day-long activity,… Read More

Robinsons Retail acquires 20% stake in beauty site operator

Robinsons Retail acquires 20% stake in beauty site operator

December 13, 2017, 7:53 pm

MANILA -- Gokongwei-led retailer Robinsons Retail Holdings Inc. (RRHI) is ramping up its online presence with a 20-percent stake acquisition in Taste Central Curators Inc.RRHI told the local bourse it bought one million shares of Taste Central, the operator of BeautyMNL, an industry leader in the… Read More

12 firms vying for Bitcoin exchange operators

12 firms vying for Bitcoin exchange operators

December 13, 2017, 7:11 pm

MANILA -- Twelve entities are awaiting the Bangko Sentral ng Pilipinas’ (BSP) approval to operate as Bitcoin exchange, as virtual currency (VC) transactions in the country continue to rise, with the average in the first half of 2017 reaching USD8.8 million a month. In a briefing Wednesday,… Read More

PSEi up ahead of Fed decision; peso stays strong

PSEi up ahead of Fed decision; peso stays strong

December 13, 2017, 7:03 pm

MANILA - - Expectations for a hike in the Federal Reserve’s rate after the meeting of the Federal Open Market Committee (FOMC) later in the day led the Philippines main equities index to recover Wednesday as the peso stayed firm on wait-and-see stance. The Philippine Stock Exchange index (PSEi)… Read More

Loan validity for Visayas projects extended

Loan validity for Visayas projects extended

December 13, 2017, 6:59 pm

MANILA -- The National Economic and Development Authority (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved the extension of the loan validity and the construction period of road and dam projects in the Visayas region. It gave the green light to the request of… Read More

Car sales breaches 40K-mark in Nov.  '17

Car sales breaches 40K-mark in Nov. '17

December 13, 2017, 3:37 pm

MANILA -- Monthly sales of automotive vehicles among members of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) breached the 40,000-mark in November this year. CAMPI and TMA reported Wednesday that combined sales of the two industry… Read More

Ilocana dragon fruit producer joins techno mission in Bangkok

Ilocana dragon fruit producer joins techno mission in Bangkok

December 13, 2017, 6:19 am

LAOAG CITY— A dragon fruit producer and processor in Ilocos Norte province is on a technological mission to Bangkok, Thailand to share their best practices and learn from others.Bringing in the latest innovations from the REFMAD Farm’s processed dragon fruit products, such as energy tea,… Read More

Production output, value slow down in Oct. '17 

Production output, value slow down in Oct. '17 

December 12, 2017, 8:42 pm

MANILA --Manufacturing industry's production volume and value slowed down in October this year, the Philippine Statistics Authority (PSA) reported Tuesday. Volume of production index (VoPi) for October this year declined by 6.5 percent, from a 9.9 percent growth in the same month in 2016.… Read More

IT-BPM resurgence seen in 2018

IT-BPM resurgence seen in 2018

December 12, 2017, 8:13 pm

MANILA -- The office property market is expected to continue expanding next year with a resurgence of the information technology-business process management (IT-BPM) and growth of the offshore online gaming industry.David Leechiu,  chief executive officer of Leechiu Property Consultants (LPC),… Read More

Peso, PSEi down ahead of BSP, Fed meetings

Peso, PSEi down ahead of BSP, Fed meetings

December 12, 2017, 7:19 pm

MANILA - - Risk-off sentiment ahead of the respective policy meetings of the Bangko Sentral ng Pilipinas (BSP) and the Federal Reserve this week weakened the Philippine peso and local equities market on Tuesday.The local currency  ended the day’s trade at 50.51 from 50.36 a day ago, which was… Read More