Business

Diokno hopes Ease of Doing Biz bill signed by end-March ‘18

Diokno hopes Ease of Doing Biz bill signed by end-March ‘18

February 27, 2018, 9:10 pm

MANILA - - Budget and Management Secretary Benjamin Diokno is optimistic that the proposed Ease of Doing Business bill, which has been discussed in the Bicameral Conference Committee, will be signed into law before the end of the first quarter this year.During the start of the two-day Open… Read More

PSEi up for 2nd day Tuesday; peso weakens

PSEi up for 2nd day Tuesday; peso weakens

February 27, 2018, 7:29 pm

MANILA -- The Philippine Stock Exchange index (PSEi) rose for the second consecutive day Tuesday mirroring upbeat sentiment in Wall Street, but the peso weakened. PSEi gained 1.09 percent, or 92.40 points, to 8,592.38 points, which a trader said was driven by comments by Fed Governor Randal… Read More

Gov’t eyes single investment plan under CTRP Package 2

Gov’t eyes single investment plan under CTRP Package 2

February 27, 2018, 7:02 pm

MANILA -- The government eyes a single investment priorities plan across all investment promotion agencies (IPAs) under the second package of the Comprehensive Tax Reform Program (CTRP) of the Duterte administration.In a forum in Makati City Tuesday, Department of Finance (DOF) Undersecretary Karl… Read More

PH gov’t posts 13% rise in revenues in ‘17

PH gov’t posts 13% rise in revenues in ‘17

February 27, 2018, 6:41 pm



MANILA -- The Duterte administration registered an 11 percent improvement on expenditures in 2017 but budget deficit fell 1 percent on account of the 13 percent year-on-year rise in revenues.

 The government registered a PHP350.6 billion budget gap in 2017, down 1 percent compared to… Read More

Megaworld spending P54-B more on township near Manila Bay

Megaworld spending P54-B more on township near Manila Bay

February 27, 2018, 5:50 pm

MANILA -- Megaworld Corp. is investing an additional PHP54 billion in the 31-hectare Westside City township at the Entertainment City in Paranaque City over the next 10 years, as it supports the country’s growing tourism industry. It initially allocated PHP10 billion for the township in 2015,… Read More

Alveo to launch P40-B projects this year

Alveo to launch P40-B projects this year

February 27, 2018, 5:46 pm

MANILA -- Alveo Land Corp. aims to launch PHP40- billion worth of projects this year, bringing to the property market around 6,000 units.  “We continue to be very confident about the market, it’s still gonna be a buoyant, robust market for Alveo. So 2018 is really about raising our gain,… Read More

Euro biz group welcomes 2nd package of tax reform

Euro biz group welcomes 2nd package of tax reform

February 27, 2018, 4:43 pm

MANILA -- The European Union-Philippines Business Network (EPBN) welcomes the second package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP), which aims to lower corporate income tax (CIT) rate and modernize fiscal incentives regime. “The European business community… Read More

Cebu Landmasters to launch 2 residential projects in Visayas

Cebu Landmasters to launch 2 residential projects in Visayas

February 27, 2018, 8:01 am

MANILA -- Listed property firm Cebu Landmasters Inc. (CLI) is further expanding its footprint in Visayas by launching this week two residential projects that will offer a combined 1,615 units. CLI’s 1,072-unit residential condominium development, MesaVirre Garden Residences, will be introduced… Read More

More foreign fund flows boost peso, PSEi

More foreign fund flows boost peso, PSEi

February 27, 2018, 8:00 am

MANILA -- Risk-on sentiment returned to the Philippines’ financial markets Monday and enabled both the peso and the Philippine Stock Exchange index (PSEi) to stay up. The local unit finished the week’s first trading session at 51.86 from 51.89 Friday last week. A trader pointed this to drop in… Read More

Maynilad signs P18.5-B notes facility

Maynilad signs P18.5-B notes facility

February 27, 2018, 7:18 am

MANILA -- Maynilad Water Services Inc. has signed an PHP18.5-billion notes facility with various banks. Conglomerates Metro Pacific Investments Corporation (MPIC) and DMCI Holdings Inc. (DMCI) separately told the local bourse that proceeds of the facility will be used to refinance its existing… Read More

BDO posts 7% hike in net income in ‘17

BDO posts 7% hike in net income in ‘17

February 26, 2018, 9:13 pm

MANILA - - Sy-led BDO Unibank Inc. (BDO) on Monday reported a seven percent jump in net income in 2017 to PHP28.1 billion, boosted by growth across all business segments.In a disclosure with the Philippine Stock Exchange (PSE), the bank said improvements in all its businesses matched the financial… Read More

Cebu Holdings to merge with subsidiary

Cebu Holdings to merge with subsidiary

February 26, 2018, 8:31 pm

MANILA -- The merger of property developer Cebu Holdings Inc. (CHI) with subsidiary Cebu Property Ventures Development Corp. (CPVDC) got the green light Monday from their respective board of directors, a move meant at consolidating the parent company’s portfolio under one listed company thus… Read More

 PSBank ‘17 net income up by 8.3%

PSBank ‘17 net income up by 8.3%

February 26, 2018, 8:29 pm

MANILA - - Philippine Savings Bank (PSBank) posted an 8.3-percent hike in net income to PHP2.7 billion in 2017, mainly driven by core revenues and fee-based income.In a disclosure with the Philippine Stock Exchange (PSE) Monday, the thrift banking arm of Metrobank Group said net interest income… Read More

DBP eyes at least 80% of loan portfolio for infra projects

DBP eyes at least 80% of loan portfolio for infra projects

February 26, 2018, 7:38 pm

MANILA -- State-owned Development Bank of the Philippines (DBP) is willing to finance big-ticket infrastructure projects under the Duterte administration’s Build, Build, Build program.In a briefing Monday, DBP president and CEO Cecilia Borromeo said the bank wants to allocate at least 80 percent… Read More

Anti-trust body okays SMC Global Power deals

Anti-trust body okays SMC Global Power deals

February 26, 2018, 7:36 pm

MANILA -- The Philippine Competition Commission (PCC) sees no anti-competitive behavior in SMC Global Power Holdings, Inc.’s purchase of shares in Masin-AES Pte. Ltd., AES Transpower Pte. Ltd., and AES Philippines, Inc.In a statement Monday, PCC said its Merger and Acquisition Office (MAO) has… Read More

Investment approvals up 32.9% to P911-B pledges in 2017

Investment approvals up 32.9% to P911-B pledges in 2017

February 26, 2018, 7:34 pm

MANILA -- The country’s seven major investment promotion agencies (IPAs) have approved a total of PHP911.3 billion worth of investment pledges in 2017, increasing by 32.9 percent from PHP685.95 billion worth of commitments in 2016, the Philippine Statistics Authority (PSA) data showed.About 88… Read More

7-8% economic growth ‘doable’: FMIC, UA&P

7-8% economic growth ‘doable’: FMIC, UA&P

February 26, 2018, 6:14 pm

MANILA -- First Metro Investments Corp. (FMIC) and University of Asia and the Pacific (UA&P) remain optimistic about achieving faster Philippine economic growth this year.In the latest issue of The Market Call, they believe the 7 to 8-percent government target this year would be “doable” given… Read More

BTr rejects bids across-the-board

BTr rejects bids across-the-board

February 26, 2018, 6:09 pm

MANILA -- The auction committee for Philippines' Treasury Bills (T-bills) rejected bids across the board Monday as the uptick of rates and undersubscription reigned during auction.In a statement, the Bureau of the Treasury (BTr) said the average rate of the benchmark 91-day paper reached a high of… Read More

DBP eyes P5.55-B net income in 2018

DBP eyes P5.55-B net income in 2018

February 26, 2018, 6:07 pm

MANILA -- The Development Bank of the Philippines (DBP) targets a PHP5.55- billion net income target for 2018 after registering a PHP5.1 billion net income in 2017.In a briefing Monday, DBP President and CEO Cecilia Borromeo said DBP aims to increase its low-cost deposit base and customer base to… Read More

PH business sector urged to adopt APEC strategies

PH business sector urged to adopt APEC strategies

February 26, 2018, 4:44 pm

MANILA -- The Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) Philippines has urged the local business community to adopt the region’s strategies put forward by this year’s APEC chair Papua New Guinea.ABAC Philippines Chair Tomas Alcantra echoed the key themes of APEC… Read More