Business

Consumer optimism still high in Q4 '17

Consumer optimism still high in Q4 '17

December 8, 2017, 7:07 pm

MANILA -- Filipino consumers’ optimism in the last quarter of 2017 remains high due to expectations of additional family income and higher salary.Results of the Bangko Sentral ng Pilipinas’ (BSP) Consumer Expectation Survey (CES) for the last quarter this year, however, showed a slight dip in… Read More

Branding products seen to boost sales in E. Visayas

Branding products seen to boost sales in E. Visayas

December 8, 2017, 6:48 pm

TACLOBAN CITY -- The Department of Trade and Industry’s (DTI) regional office here is upbeat about higher sales for local producers in Eastern Visayas with product branding strategy. The department spearheaded the first Bahandi (local term for treasure) Eastern Visayas brand launch and market… Read More

BDO issues USD150-M 'green bond' to curb climate change

BDO issues USD150-M 'green bond' to curb climate change

December 8, 2017, 6:15 pm

MANILA -- BDO Unibank Inc. is pioneering the issuance of so-called green bonds among Philippine commercial banks, after recently raising USD150 million from the activity and allotting all the proceeds to fund projects aimed at curbing climate change. In a disclosure to the Philippine Stock… Read More

Basic Energy to acquire stake in Japan biomass power plant

Basic Energy to acquire stake in Japan biomass power plant

December 8, 2017, 6:00 pm

MANILA -- Listed Basic Energy Corp. (BEC) is acquiring a minimum 10-percent stake in a 25-megawatt (MW) biomass power plant located in Japan, in line with its thrust to expand its portfolio of renewable energy projects here and abroad.BEC told the local bourse it signed a term sheet with Vintage… Read More

NPC aims for privacy resiliency 

NPC aims for privacy resiliency 

December 8, 2017, 8:57 am

MANILA -- The National Privacy Commission (NPC) wants the country to be privacy-resilient to prevent violations on data privacy and security. During the FintQ on Q Session Thursday, NPC Chairman and Commissioner Raymund Enriquez Liboro said the agency's end-goal is to build data privacy… Read More

BSP recycles materials for Christmas decors

BSP recycles materials for Christmas decors

December 7, 2017, 8:48 pm

MANILA - - Recycled plastic spoons and forks and plastic bottles take center stage in the main outdoor Christmas tree of the Bangko Sentral ng Pilipinas (BSP) main office in Manila for this year.The central bank has been using recycled materials for its Christmas decorations for some years now and… Read More

ARMM launches 6-year development blueprint

ARMM launches 6-year development blueprint

December 7, 2017, 8:46 pm

MANILA -- The Autonomous Region in Muslim Mindanao (ARMM) on Thursday launched its development blueprint that aims to attract more investments and accelerate infrastructure development crucial in boosting economic growth in the region over the next six years.ARMM’s Regional Development Plan… Read More

Roxas Holdings' income up 18% to P120-M

Roxas Holdings' income up 18% to P120-M

December 7, 2017, 7:30 pm

MANILA -- Listed sugar and ethanol producer Roxas Holdings, Inc. (RHI) posted a consolidated net income of PHP120 million for the year ending Sept. 30, up 18 percent from PHP102 million in the same period last year.RHI told the local bourse its core net income also increased by 135 percent to… Read More

Nomura tags PH as one of three 'new rising stars'

Nomura tags PH as one of three 'new rising stars'

December 7, 2017, 7:16 pm

MANILA -- A research study by Japanese financial company Nomura tagged the Philippines, India, and Indonesia as Asia’s “new rising stars” as these are seen to boost the region’s potential growth by at least  eight percent in 2018.The Philippines, for one, is projected to grow, as measured… Read More

Manila Water bags Leyte project

Manila Water bags Leyte project

December 7, 2017, 7:11 pm

MANILA -- Ayala-led Manila Water Company Inc. won a contract to develop the water supply system in Leyte province.In a disclosure with the Philippine Stocks Exchange, Manila Water said it received the notice of award from the Leyte Metropolitan Water District (LMWD) on Wednesday.It said the… Read More

Coca-Cola to buy more local sugar

Coca-Cola to buy more local sugar

December 7, 2017, 6:28 pm

MANILA – Beverage firm Coca-Cola FEMSA Philippines (KOF) plans to buy more sugar from local sources for its beverage manufacturing activities next year. The company said Thursday it bought  two million bags of local sugar this year, up more than 80 percent from 1.1 million bags in 2016. "The… Read More

Gov't allots P1-B microloan for MSMEs in 2018

Gov't allots P1-B microloan for MSMEs in 2018

December 7, 2017, 3:58 pm

MANILA -- The Duterte administration has allocated PHP1 billion for next year's Pondo sa Pagbabago at Pag-asenso, or P3 microloan program for micro, small, and medium enterprises (MSMEs). In a statement Thursday, DTI Undersecretary Zenaida Maglaya said President Rodrigo Duterte kept his… Read More

Domestic trade volume up double digit in Q3 '17 

Domestic trade volume up double digit in Q3 '17 

December 7, 2017, 2:07 pm

MANILA -- Quantity of goods traded in the domestic market in July to September period has increased by double digit this year compared to the same period in 2016. Philippine Statistics Authority (PSA) data released Thursday showed that volume of domestic trade in third quarter of the year grew… Read More

AboitizPower to add 500 MW capacity in 2018

AboitizPower to add 500 MW capacity in 2018

December 7, 2017, 1:16 pm

MANILA -- AboitizPower Corporation is set to add some 500 megawatts of attributable capacity in 2018, coming from the completion of several hydro and baseload plants in Luzon, Visayas, and Mindanao. In a briefing to analysts last Tuesday, AboitizPower President and COO Antonio R. Moraza said the… Read More

Former AboitizPower exec is new LRT-1 operator President/CEO

Former AboitizPower exec is new LRT-1 operator President/CEO

December 7, 2017, 10:23 am

MANILA -- The operator of the Light Rail Transit Line 1 (LRT-1), Light Rail Manila Corporation (LRMC), has appointed Juan Alfonso as its new President and Chief Executive Officer. Alfonso, who previously served as the Chief Operating Officer of AboitizPower Corp. subsidiary Aseagas Corporation,… Read More

BSP chief likens economy to a race car; discounts over-heating

BSP chief likens economy to a race car; discounts over-heating

December 6, 2017, 8:38 pm

MANILA - -The  total picture of the economy , whether its overheating or not,  cannot be discerned  only through credit growth. This was stressed by Bangko Sentral ng Pilipinas (BSP) Governor Nestor  Espenilla Jr. on Wednesday following rising concerns that the Philippine economy is starting… Read More

JFC urges Congress to pass legislation resolving traffic jam

JFC urges Congress to pass legislation resolving traffic jam

December 6, 2017, 8:07 pm

MANILA – The Joint Foreign Chamber (JFC) in the Philippines on Wednesday urged Congress to complete legislation procedures that would resolve traffic and congestion crisis in the country. "We urge Congress to complete its legislative procedures and approve the legislation on second and third… Read More

Cebu Landmasters inks deal with Ascott

Cebu Landmasters inks deal with Ascott

December 6, 2017, 7:40 pm

MANILA -- Newly-listed property developer Cebu Landmasters Inc. (CLI) has teamed up anew with The Ascott Ltd. for the serviced residence of a mixed-use development project in Cebu City to meet growing demands from the tourism industry.CLI signed Wednesday its management agreement with Ascott for… Read More

High coal tax risking manufacturing growth goal

High coal tax risking manufacturing growth goal

December 6, 2017, 7:21 pm

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez said it would be more challenging for the local manufacturing sector to achieve more than 10 percent growth target in the next few years as higher excise tax on coal looms. Lopez told reporters that if the Senate's version of… Read More

Del Monte posts USD2.8-M net loss

Del Monte posts USD2.8-M net loss

December 6, 2017, 6:45 pm

MANILA -- Food and beverage conglomerate Del Monte Pacific Limited (DMPL) booked a net loss of USD2.8 million in the second quarter ending October 2017, reversing its USD20 million profit last year, as it rationalized plants and invested in brand building.DMPL, listed in both the Singapore and… Read More