Business
NPC to intensify monitoring of Data Privacy Act compliance
December 11, 2018, 4:55 pm
MANILA -- The National Privacy Commission (NPC) is reminding privacy-minded organizations that it has intensified its monitoring efforts to ensure strict compliance to Republic Act No. 10173 or the Data Privacy Act of 2012. In a briefing Tuesday, NPC Policy Review Division Chief Vida Zora Bocar… Read More
Seaoil depot seen to reduce pump prices in Mindanao
December 11, 2018, 2:49 pm
MANILA -- Independent oil player Seaoil Philippines has received its certificate of registration from the Board of Investments (BOI) for its PHP287-million four storage-tank oil depot in Davao del Sur, which is seen to cut pump prices in Mindanao. The BOI registered Seaoil depot project -- "Bulk… Read More
PLDT Home broadband revenues up 12%
December 11, 2018, 2:03 pm
MANILA -- Broadband revenues of the Home segment of PLDT Inc. has increased by 12 percent to PHP27.3 billion in the third quarter this year, driven by strong subscriber demand for online video content, the company's management announced Monday. This, as consumers are increasingly shifting from… Read More
BPOs still to drive office space demand in 2019
December 10, 2018, 8:45 pm
MANILA -- After seeing a few years of decline, the business process outsourcing (BPO) industry is expected to come back with a vengeance in 2019, so much so that it is expected to become a major driving force in office take-up next year, according to Leechiu Property Consultant (LPC). LPC chief… Read More
Gov’t to launch Philippine Fisheries Expo 2018
December 10, 2018, 8:37 pm
MANILA -- Fishermen from about 100 fishing grounds all over the country will enjoy a two-day "shopping spree" on Dec. 18 to 19 at the World Trade Center in Pasay City for machinery and equipment they need to increase their productivity and income, and lower poverty in the fishing sector. Backed up… Read More
Local markets retreat on risk-on sentiment
December 10, 2018, 8:07 pm
MANILA -- Geo-political uncertainties continue to worry investors resulting in the drop of the Philippine Stock Exchange index (PSEi) and the weakness of the peso during the week's first trading day. The local currency ended the day at 52.8 from 52.71 Friday last week. The Bank of the Philippine… Read More
GDP to take a hit from reenacted budget
December 10, 2018, 8:06 pm
MANILA -- An estimated 1.1 to 2.3 percentage points is expected to be shaved off the Philippines’ gross domestic product (GDP) next year if government is forced to operate on a re-enacted budget in 2019. An assessment by the government's economic team released Monday showed that domestic output,… Read More
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
