Business
ADB to support PH infra program thru more loans
December 10, 2018, 7:37 pm
MANILA -- Manila-based lender Asian Development Bank (ADB) vowed to increase funding to the Philippines in support of the government’s infrastructure program. In his speech during ceremonial exchange of documents at the Department of Finance (DOF) Monday, ADB President Takehiko Nakao said they… Read More
PH T-bill rates rise anew on hopes of steady BSP rates
December 10, 2018, 7:04 pm
MANILA -- The strong demand for Philippine government-issued Treasury bills (T-bills) continues to push its rates up on a weekly basis, with this week not being an exemption. Rate of the benchmark 91-day paper rose to 5.394 percent from 5.350 percent during the auction last December 3. The Bureau… Read More
PLDT seals USD40-M investment deal with IFC
December 10, 2018, 4:40 pm
MANILA -- PLDT Inc. has managed to close a USD40-million investment deal with the International Finance Corporation (IFC) and IFC Emerging Asia Fund for the purchase of newly-issued shares on its digital innovations unit Voyager Innovations. In a regulatory disclosure Monday, PLDT said that the… Read More
Power rates up in December
December 10, 2018, 4:01 pm
MANILA -- Manila Electric Company (Meralco) announced Monday that electricity rates this month will increase slightly, by PHP0.0902 per kilowatt hour (kWh) to be exact, thus, bringing the cost of power to PHP10.1803 per kWh. Meralco attributed this month's modest power rate hike to higher… Read More
8-week oil price rollback streak comes to an end
December 10, 2018, 2:09 pm
MANILA -- Eight weeks of almost unabated decline in local pump prices almost comes to an end Tuesday (Dec. 11), when oil companies raise the price of unleaded gasoline by PHP0.40 per liter. However, the rollback streak has not exactly come to a screeching halt yet, as the price of diesel is set to… Read More
BPI extends operating hours during holidays
December 7, 2018, 9:52 pm
MANILA -- Ayala-led Bank of the Philippine Island (BPI) will extend the banking hours of selected branches nationwide by one hour, including BPI Family Savings, during the Christmas holidays. In a statement, the bank's management said the decision to extend its operating hours was made “to… Read More
Implement PEDP, Lopez tells export stakeholders
December 7, 2018, 7:56 pm
MANILA – Trade Secretary Ramon Lopez called on stakeholders of the export industry to rally behind the Philippine Export Development Plan (PEDP) so that its lofty objectives would come into fruition. During the National Exporters Congress (NEC) in Pasay City Friday, Lopez said the PEDP has laid… Read More
Trading week ends with peso sideways, local shares lower
December 7, 2018, 7:19 pm
MANILA -- The Philippine peso managed to end the week sideways while the local bourse shed amid fears that the truce in the US-China trade war will be cut short following the arrest of a Huawei executive in Canada. The local currency ended the week at 52.71 from 52.76 Thursday, which the Bank of… Read More
House pushes for empowering MSMEs
December 7, 2018, 6:37 pm
MANILA -- The House of Representatives approved this week a measure seeking to strengthen, empower, and enhance the financing programs for micro, small and medium enterprises (MSMEs). Through voice voting, the chamber passed on second reading House Bill 8714, which seeks to amend Republic Act… Read More
More Filipinos saving up their money
December 7, 2018, 5:36 pm
MANILA -- The number of Filipinos who have set aside some money for a rainy day has risen in the fourth quarter of 2018 compared to the previous quarter, a Bangko Sentral ng Pilipinas (BSP) survey showed. Results of the Q4 2018 Consumer Expectations Survey (CES) showed that percentage of household… Read More
2019 inflation seen at 3.6% despite oil tax hike
December 7, 2018, 3:17 pm
MANILA -- The country’s inflation rate is expected to decline further below 6 percent this month and even lower to 3.6 percent next year, even if the second tranche of the oil excise tax increase pushes through, an economist of a major Philippine bank said. Emilio Neri Jr., vice president and… Read More
Public, private sectors commit to improve PH logistics sector
December 7, 2018, 9:29 am
MANILA -- Both the public and private sectors have made commitments to improve the logistics sector in the country, aiming to make the logistics services more efficient and to contribute more to job creation and to the economy. During the first Logistics Services Philippines Conference in Pasay… Read More
BSP, biz leaders hopeful despite dampened sentiments in Q4
December 6, 2018, 9:13 pm
MANILA -- Monetary officials and business leaders remain hopeful that both business and consumer sentiments would start perking up in the closing days of the year as inflationary pressures ease. This, as the elevated inflation rate earlier in the year dampened sentiments of both the business… Read More
PTT exec still upbeat despite looming oil excise tax hike
December 6, 2018, 8:50 pm
MANILA -- An official of PTT Philippines Corp. remains optimistic about the future prospects of their business even with the likely implementation of the second tranche of the oil excise tax hike in 2019. PTT Philippines Managing Director Thitiroj Rergsumran said Thursday they will comply with… Read More
Overseas trade concerns weigh down PSEi; peso keeps gains
December 6, 2018, 8:16 pm
MANILA -- The Philippine peso ended sideways against the US dollar during Thursday's session but the Philippine Stock Exchange index (PSEi) failed to recover on renewed trade war concerns overseas. The local currency ended the day’s trade at 52.76 from 52.74 a day ago, which Bank of the… Read More
Corporate tax reform to create 1.4-M jobs in 10 years
December 6, 2018, 7:00 pm
MANILA -- The Duterte administration’s tax reform package that aims to lower the corporate income tax (CIT) and overhaul the country's "convoluted" fiscal incentives system is projected to generate some 1.4 million jobs, mostly in small and medium enterprises (SMEs), over the next decade and… Read More
Taiwanese computer giant to reopen Subic plant
December 6, 2018, 6:22 pm
SUBIC BAY FREEPORT -- Wistron Infocomm Corp., formerly one of the biggest export manufacturers in the Subic Bay Freeport Zone, will soon resume production operations here. Subic Bay Metropolitan Authority (SBMA) chairman and administrator Wilma Eisma on Wednesday said the Taiwanese computer giant… Read More
NPC to telcos: Ensure data privacy protection
December 6, 2018, 5:54 pm
MANILA -- The National Privacy Commission (NPC) on Thursday called on telecommunications firms to compete on ensuring effective data privacy and protection as part of their delivery of services to consumers. “This is what’s good about competition it’s the customers who decide who to trust.… Read More
Passenger car sales seen to recover in 2019
December 6, 2018, 4:58 pm
MANILA -- Passenger car sales in the Philippines will recover slightly next year, by around 3.2 percent or 120,000 units by end-2019, according to projections of Fitch Solutions Macro Research. This will be a turn-around after passenger car sales this year declined by 20 percent to 90,522 units as… Read More
Nickel industry projects lower production in 2019
December 6, 2018, 4:49 pm
MANILA -- The Philippine nickel industry has projected lower production in 2019 due to the new regulation of the government limiting the areas for mining operations. Philippine Nickel Industry Association (PNIA) President Dante Bravo, in a forum Wednesday, attributed the projected decline in… Read More
