Business
AboitizPower to provide energy for Batangas ecozone
January 7, 2019, 6:48 pm
MANILA -- AboitizPower Corp. will provide energy services for Light Industry & Science Park (LISP) IV in Malvar, Batangas, one of the latest economic zone projects of Science Park of the Philippines, Inc. (SPPI). In the 25-year service agreement between AboitizPower and SPPI, the former’s… Read More
PH T-bill rates rise on year's 1st auction
January 7, 2019, 6:46 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday, with strong demand being behind the rise in longer tenors, which National Treasurer Rosalia De Leon attributed to expectations that domestic inflation will continue to decelerate. Average interest rate of the… Read More
Tax increase not yet reflected in Tuesday’s oil price hike
January 7, 2019, 3:29 pm
MANILA -- Oil companies announced a hike in fuel prices on Tuesday, January 8, but clarified that this increase is not yet due to the Tax Reform for Acceleration and Inclusion (TRAIN) law's second tranche. In separate messages, oil firms said they will increase diesel prices by PHP0.70 per liter,… Read More
Bacolod ICT council eyes alliance with Canadian chamber
January 7, 2019, 2:13 pm
BACOLOD CITY -- The Bacolod-Negros Occidental Federation for Information and Communications Technology (BNEFIT) is eyeing a possible collaboration with the Canadian Chamber of Commerce in the Philippines. BNEFIT president John Dave Dueñas said a representative of the Canadian chamber will meet… Read More
Business confidence in Bacolod City restored: mayor
January 7, 2019, 1:33 pm
BACOLOD CITY -- An all-time high of 23,187 permits registration in 2018 is an indication that business confidence has been restored in this city, Mayor Evelio Leonardia said. “This is a solid indicator that we have restored business confidence. Even the business world has taken notice of the… Read More
Road Board abolition in original tax reform proposal: DOF
January 7, 2019, 1:12 pm
MANILA -- The abolition of the alleged corruption-plagued Road Board and the transfer of its funds sourced from the collection of the Motor Vehicle User Charge (MVUC) to the state’s General Fund, to ensure accountability and transparency in their use, is already covered by the original proposal… Read More
Newly-rehabilitated Tubigon Port starts operations
January 5, 2019, 2:54 pm
MANILA -- The port in Tubigon, Bohol resumed operations on Saturday after the damages it sustained during the magnitude 7.2 earthquake five years ago had been repaired, the Philippine Ports Authority (PPA) said. The repair and renovation of the port was fast-tracked following an inspection… Read More
Gov’t working to further reduce inflation
January 4, 2019, 7:57 pm
MANILA -- The government’s economic managers on Friday vowed to continue working towards further reining in the prices of commodities, even as the country’s inflation rate has already declined to a seven-month low of 5.1 percent in December. “Nonetheless, we continue to exert all efforts to… Read More
P6-B investment eyed for Clark Airport terminal expansion
January 4, 2019, 7:54 pm
MANILA -- The consortium managing the operations and maintenance (O&M) of the Clark International Airport is eyeing to allocate PHP6 billion for the improvement of its new terminal building, which is expected to serve around 8 million passengers or double the current capacity of its existing… Read More
Local markets benefiting from inflation decline
January 4, 2019, 7:52 pm
MANILA -- The deceleration of the country's December 2018 inflation rate to 5.1 percent from month-ago’s six percent, reportedly helped both the peso and the main equities gauge to finish the week on a high note. The local currency ended the shortened trading week at 52.51 against the greenback,… Read More
BSP may cut rates as early as May 2019: ING Bank
January 4, 2019, 6:44 pm
MANILA -- As price pressures wane, causing inflation to fall back to only 5.1 percent last December, an economist of ING Bank, N.V. Manila forecasts a strong reversal in the Bangko Sentral ng Pilipinas’ (BSP) policy decisions, which saw a 175-basis point hike in key rates in 2018. In a report,… Read More
Espenilla takes leave to seek cancer care abroad
January 4, 2019, 6:42 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. on Friday went on sick leave, effective January 4-21, 2019, to seek medical treatment abroad for his battle with tongue cancer. “The Governor will be obtaining medical care overseas as part of his continuing treatment… Read More
Production volume, value up in November
January 4, 2019, 5:55 pm
MANILA -- The country’s manufacturing sector in November 2018 managed to remain upbeat despite last year's inflationary uptick, as both volume and value of production indices were up. The Philippine Statistics Authority’s (PSA) Manufacturing Integrated Survey of Selected Industries (MISSI)… Read More
Delaying 3rd telco entry to hinder improved services: DICT
January 4, 2019, 5:51 pm
MANILA -- Delaying the entry of the third telco player in the country will derail the vision of achieving faster and better communication services for the public, the head of the Department of Information and Communications Technology (DICT) said Friday. DICT Acting Secretary Eliseo Rio, Jr. said… Read More
IPOPHL eyes to ease limitation on accessible formats
January 4, 2019, 5:34 pm
MANILA -- More persons with disabilities (PWDs), not only the blind or visually-impaired, may soon have wider access to alternative information materials as the Intellectual Property Office of the Philippines (IPOPHL) eyes relaxing certain rules on copyright protection, thus, liberalizing the… Read More
BSP exec calls 2018 inflationary pressures 'short lived'
January 4, 2019, 5:00 pm
MANILA -- The further slowdown of the Philippines’ inflation rate to 5.1 percent in December 2018 clearly shows that the big jumps in inflation during the first three quarters of last year were mainly supply-driven and were therefore short-lived, according to a top monetary official. Bangko… Read More
DA bans entry of pork, pork-based products from 13 countries
January 4, 2019, 3:46 pm
MANILA -- Due to the threat of a baffling hog disease that has killed millions of pigs all over the world and whose effect on human health is still unknown, the Department of Agriculture (DA) has banned the import of pork and pork-based products from 13 countries. The DA has imposed strict… Read More
Inflation hits 7-month low of 5.1% in December
January 4, 2019, 3:41 pm
MANILA -- The country’s inflation rate fell to a seven-month low of 5.1 percent in December 2018, thanks in part to government measures to curb the surge in prices of basic commodities. The Philippine Statistics Authority (PSA) on Friday reported that last month’s inflation was the lowest… Read More
Drop in December inflation boosts local stocks
January 4, 2019, 3:37 pm
MANILA -- The sustained deceleration of the country's inflation rate, which last December further dropped to 5.1 percent from month-ago’s 6 percent, is seen to give the Philippine Stock Exchange index (PSEi) an upward boost this shortened trading week. Average inflation in 2018 stood at 5.2… Read More
BSP tells BSFIs to strengthen PESONet, InstaPay implementation
January 3, 2019, 8:24 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has given BSP-supervised financial institutions (BSFIs) not later than March 31, 2019 to ensure that all its frontline personnel have the necessary know-how implement fund transfer services PESONet and InstaPay. BSFIs are also required to post around… Read More
