Business

DBM okays creation of 75K teaching positions

DBM okays creation of 75K teaching positions

April 4, 2018, 6:38 pm

MANILA -- Some 75,242 new teaching positions, the bulk of which are Teacher-1 level, have been created to address the lack of mentors in public schools nationwide starting school year 2018-19, the Department of Budget and Management (DBM) revealed. In a briefing Wednesday, Budget Secretary… Read More

Grab to cooperate with PCC probe but Uber takeover to push through

Grab to cooperate with PCC probe but Uber takeover to push through

April 4, 2018, 6:31 pm

MANILA -- Transport network company (TNC) Grab Philippines assured the Philippine Competition Commission (PCC) that it will cooperate with the investigation regarding its acquisition of lone competitor Uber. In a statement Wednesday, Grab Philippines Public Affairs head Leo Gonzales said the… Read More

U.S. automakers report brisk March sales

U.S. automakers report brisk March sales

April 4, 2018, 5:36 pm

CHICAGO -- America's big three automakers all reported increased sales in March 2018 after a subdued performance in February.General Motors said on Tuesday it delivered 296,341 vehicles in the US market in March, up 16 percent year on year. The sharp rise of sales was driven by Buick's best March… Read More

Boeing gets new orders for 737 MAX jets

Boeing gets new orders for 737 MAX jets

April 4, 2018, 4:05 pm

SAN FRANCISCO -- US Aviation giant Boeing announced Tuesday that it has finalized a new order from an American aircraft leasing company for eight more 737 MAX airlines. Boeing said it has signed a deal with Air Lease Corp. (ALC), an American aircraft leasing firm founded in 2010, to sell the… Read More

PH T-bond rate up on high demand

PH T-bond rate up on high demand

April 3, 2018, 8:46 pm

MANILA -- Rate of the Philippines’ three-year Treasury bond (T-bond) rose Tuesday but the Bureau of the Treasury’s (BTr) auction committee made a full award on the back of strong demand for the debt paper. It averaged at 4.632 percent, up from 4.256 percent during the auction last Jan. 23 but… Read More

PCC launches probe on Grab-Uber merger

PCC launches probe on Grab-Uber merger

April 3, 2018, 8:19 pm

MANILA -- The Philippine Competition Commission (PCC), the country’s antitrust body, launched Tuesday a motu proprio review on the acquisition of Grab Holdings, Inc. and MyTaxi.PH of the assets of Uber BV and Uber Systems, Inc. PCC has opened its own investigation on the Grab and Uber deal after… Read More

PSEi rises while Peso moves sideways

PSEi rises while Peso moves sideways

April 3, 2018, 7:58 pm

MANILA -- Investors’ concerns on US President Donald Trump’s taxation policies and the possible trade war with China failed to spook both the Philippines’ main equities index and the peso on Tuesday. Bargain hunting boosted the Philippine Stock Exchange index (PSEi) enabling it to rise by… Read More

9 major infra projects up for NEDA Board approval

9 major infra projects up for NEDA Board approval

April 3, 2018, 7:55 pm

MANILA -- Nine big-ticket infrastructure projects, including San Miguel Corp.’s proposed PHP700-billion airport project in Bulacan, are up for approval by the National Economic and Development Authority (NEDA) board, the state planning agency said Tuesday. NEDA Undersecretary Rolando Tungpalan… Read More

PH to join upper middle income economies by 2019: NEDA

PH to join upper middle income economies by 2019: NEDA

April 3, 2018, 7:41 pm

MANILA -- The Philippines can join the ranks of upper middle income economies as early as end-2019 or two years ahead of target, the National Economic and Development Authority (NEDA) said Tuesday. This is if the economy manages to sustain its brisk expansion due to higher infrastructure spending… Read More

E-vehicle industry in ASEAN vow closer collaboration

E-vehicle industry in ASEAN vow closer collaboration

April 3, 2018, 7:38 pm

MANILA -- Electric vehicle (e-vehicle) associations within Association of Southeast Asian Nations (ASEAN) member states are striving for closer collaboration for the development of the growing industry. Electric Vehicle Association of the Philippines (EVAP) President Rommel Juan said that their… Read More

Boracay closure's economic impact likely minimal: NEDA

Boracay closure's economic impact likely minimal: NEDA

April 3, 2018, 7:35 pm

MANILA -- The proposed six-month closure of Boracay Island is expected to have a minimal impact on the Philippine economy, but will affect livelihood in the country’s top tourist destination, the National Economic and Development Authority (NEDA) said Tuesday. “Basically the overall picture we… Read More

Filipino truck assembler bullish over PH infra program

Filipino truck assembler bullish over PH infra program

April 3, 2018, 7:32 pm

MANILA -- Centro Manufacturing Corp., the country’s leading truck body assembler, expressed optimism that the Duterte administration's Build Build Build program would generate fresh demand for heavy equipment. Centro Chief Financial Officer Jerryme Garcia said the government’s ambitious… Read More

Auto loans to grow due to TRAIN, says BPI exec

Auto loans to grow due to TRAIN, says BPI exec

April 3, 2018, 7:27 pm

MANILA -- An official of Ayala-led BPI Family Savings Bank is optimistic about the sustained expansion of their car loans this 2018 following the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law earlier this year. On the occasion of the bank’s announcement on Tuesday… Read More

Jeppesen partners with Bad Elf for quick flight data updates

Jeppesen partners with Bad Elf for quick flight data updates

April 3, 2018, 2:18 pm

SAN FRANCISCO -- Jeppesen, a subsidiary of US aerospace giant Boeing Company (Boeing), is teaming up with aviation hardware and software provider Bad Elf to simplify flight data updates via mobile technology accessible through an iPhone or iPad. Boeing said in a statement Monday that Jeppesen has… Read More

China’s retaliatory tariffs could hurt US wine industry

China’s retaliatory tariffs could hurt US wine industry

April 3, 2018, 12:02 pm

SAN FRANCISCO -- The US wine industry has expressed concerns over the long-term damage of China's 15 percent tariff on imported wines from the United States. China started imposing 15 percent additional tariffs on a total of 128 US products, including wine, on the weekend in a retaliatory action… Read More

BCDA to award P3.5-B SCTEX-New Clark City access road

BCDA to award P3.5-B SCTEX-New Clark City access road

April 3, 2018, 8:38 am

MANILA -- The Bases Conversion and Development Authority (BCDA) is set to award the PHP3.5-billion access road to New Clark City from the Subic-Clark-Tarlac Expressway (SCTEX). In an interview Monday, BCDA Business Development and Operations Group Senior Vice President Joshua Bingcang said the… Read More

Local thrift banks embrace innovations

Local thrift banks embrace innovations

April 2, 2018, 10:12 pm

MANILA -- Officials of the Chamber of Thrift Banks (CTB) are open to innovations on financial technology, citing the advantages towards further servicing their niche market. In a statement, CTB President Gregorio B. Anonas III said thrift banking players “are aware of the shift in the digital… Read More

AboitizPower announces rooftop solar venture

AboitizPower announces rooftop solar venture

April 2, 2018, 8:57 pm

MANILA -- AboitizPower on Monday announced that it will enter the rooftop solar business, further expanding the firm's renewable energy portfolio under the Cleanergy brand. The new business was named AboitizPower Distributed Energy, Inc. (APX). To date, AboitizPower has 1,272 MW of net sellable… Read More

Grab, Uber urged to be transparent about merger

Grab, Uber urged to be transparent about merger

April 2, 2018, 8:46 pm

MANILA -- The Philippine Competition Commission (PCC) said Monday that it is closely looking into the acquisition deal between Grab and Uber, adding that the antitrust body will ensure that the transaction will not harm the interest of the riding public. In a statement, the PCC has urged the… Read More

PSEi, peso begin week on positive territory

PSEi, peso begin week on positive territory

April 2, 2018, 8:41 pm

 MANILA --   Risk-on sentiment returned to Philippine financial and capital markets Monday after a long weekend due to the Lenten break. The Philippine Stock Exchange index (PSEi) recovered and finished the week’s first trading day up by 0.75 percent, or 59.62 points, to 8,039.45 points. The… Read More