Business

DTI monitors supplies, prices of goods in Biliran

DTI monitors supplies, prices of goods in Biliran

December 19, 2017, 5:54 pm

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez has assured that the agency is closely monitoring supplies and prices of goods in Biliran province, which was affected by tropical depression "Urduja."“DTI dispatched more teams to monitor prices and prevent hoarders and… Read More

All Value Holdings to ramp up supermarket expansion in 2018

All Value Holdings to ramp up supermarket expansion in 2018

December 19, 2017, 4:01 pm

MANILA -- All Value Holdings Corp., the private retail-holding firm of the Villar family, plans to double its supermarket count next year to 26, as it ramps up its retail footprint via All Day Supermarket.“The All Day supermarkets' (current number is) 13. I will double that next year to 26,”… Read More

PPP Center to launch water projects in 2018

PPP Center to launch water projects in 2018

December 19, 2017, 8:54 am

MANILA -- The PPP Center is eyeing to roll out five to eight water supply projects of local government units (LGUs) next year. To create a larger market for investors, the center is considering to bundle the projects of LGUs nationwide. “The biggest sector we have is water and sanitation,”… Read More

Entry of 3rd telco player to improve PH internet: Globe

Entry of 3rd telco player to improve PH internet: Globe

December 19, 2017, 8:36 am

MANILA -- Telecommunications provider Globe welcomes the entry of a third player in the telco industry saying this would further increase the number of cell sites resulting in the improvement of Internet access and speed in the country. This, as Globe reiterated that the tedious permitting… Read More

PSEi up ahead of tax reform bill signing

PSEi up ahead of tax reform bill signing

December 18, 2017, 8:21 pm

MANILA -  Optimism on the eventual signing by President Rodrigo R. Duterte of the first package of tax reforms into law boosted the Philippine Stock Exchange index (PSEi) Monday while the peso ended the week’s first trading day little changed on tax reform concerns in the US. The PSEi recovered… Read More

SMC unit buys out Masinloc power plant

SMC unit buys out Masinloc power plant

December 18, 2017, 7:39 pm

MANILA -- SMC Global Power Holdings (SMCGPH), the power business of conglomerate San Miguel Corp. (SMC), has closed a deal to buy the 630-megawatt (MW) Masinloc power plant in Zambales for USD1.9 billion, as it expands footprint in clean coal technology.SMCGPH reached an agreement to purchase… Read More

HSBC ups GDP forecast for next year

HSBC ups GDP forecast for next year

December 18, 2017, 7:34 pm

MANILA - - Banking giant HSBC revised upwards its growth forecast for the country's Gross Domestic Product (GDP) for 2017 and 2018 given the sustained improvement of the domestic economy. HSBC, in a study, hiked its growth forecast for the domestic economy from 6.5 percent to 6.7 percent for the… Read More

2 Chinese firms keen on power, infra projects in PH

2 Chinese firms keen on power, infra projects in PH

December 18, 2017, 4:35 pm

MANILA -- Two major Chinese companies have expressed keen interest to partner with the construction arm of the Aboitiz Group to build power and infrastructure projects in the Philippines.Shandong Electric Power Construction Corporation III (SEPCO3) and Dongfang Electric Company (DEC) strengthened… Read More

Tax reform package to help workers, spur growth: Dominguez

Tax reform package to help workers, spur growth: Dominguez

December 17, 2017, 7:02 pm

MANILA -- All working Filipinos will benefit from the approval of the first tax reform package and its recent ratification, Finance Secretary Carlos Dominguez III said it is an achievement since the country is not facing any crisis right now. In a recent briefing, Dominguez said last week's… Read More

PSE hopes to close merger deal with PDS before year-end

PSE hopes to close merger deal with PDS before year-end

December 17, 2017, 6:58 pm

MANILA -- The Philippine Stock Exchange (PSE) hopes it will finally close the deal to merge with fixed-income trading platform operator, Philippine Dealing Systems Holdings Corp. (PDS), before the end of the year. PSE president Ramon Monzon said the Philippine Competition Commission (PCC) has… Read More

Udenna to build P302-B central business district in Clark

Udenna to build P302-B central business district in Clark

December 17, 2017, 3:41 pm

MANILA -- Udenna Corporation, the holding company of businessman Dennis Uy, will invest USD6 billion (roughly PHP302.6 billion) in the next 10 years to develop a 179.5-hectare property within the Clark Freeport Zone into a new central business district. Wilfredo Placino, Udenna Corp. director for… Read More

Aboitiz Equity sets 2018 capex at P50-B

Aboitiz Equity sets 2018 capex at P50-B

December 17, 2017, 2:12 pm

MANILA -- Conglomerate Aboitiz Equity Ventures Inc. (AEV) will spend up to P50 billion next year, same level as this year, as it eyes growth in power and infrastructure. AEV Senior Vice President and Chief Financial Officer Manuel Lozano told reporters this week that its subsidiary, Aboitiz Power… Read More

Cemex unit gets DENR nod

Cemex unit gets DENR nod

December 16, 2017, 12:00 pm

MANILA -- A subsidiary of listed cement manufacturer Cemex Holdings Philippines Inc. (CHP) has gotten the green light from the Department of Environment and Natural Resources (DENR) for the proposed expansion of its production line in Antipolo City, Rizal. CHP told the local bourse that it has… Read More

ANZ sees hike in BSP rates in Q1 ‘18

ANZ sees hike in BSP rates in Q1 ‘18

December 16, 2017, 11:54 am

MANILA -- ANZ Research projects a hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates starting the first quarter of next year on expected uptick in prices of some commodities as a result of the proposed tax reform program. In a report, the Australia-headquartered financial firm considers… Read More

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