Business
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
Local markets pull back in midweek trading
December 6, 2018, 4:02 pm
MANILA -- Risk-off sentiment was up in Philippine markets on Wednesday, resulting in a weakening in the main equities gauge and the peso following the big sell-off in US equities, as investors remain uncertain on the outcome of US-China trade talks. The Philippine Stock Exchange index (PSEi) ended… Read More
DTI sees prices of goods easing in Q1 2019
December 6, 2018, 1:17 pm
MANILA -- Trade Secretary Ramon Lopez expects prices of goods to continue to decline in the first quarter of 2019 due to the decreasing oil prices and strengthening of the Philippine peso. Lopez said although prices have decreased following the easing of inflation rate at 6 percent last month,… Read More
DTI to issue new SRPs on basic goods as sardines get costlier
December 5, 2018, 8:42 pm
MANILA -- The Department of Trade and Industry (DTI) is set to release this week new suggested retail prices (SRPs) of basic and prime commodities after prices of some brands of canned sardines went up, while prices of bread declined. According to DTI, nine sardine brands increased their prices by… Read More
PH still monitoring global dev't for bond issuance
December 5, 2018, 7:56 pm
MANILA -- The Philippine government is still on a wait-and-see stance vis-a-vis its planned US dollar bond sale, which it targets to issue this quarter. In an interview at the sidelines of the Senate hearing on the proposed 2019 national budget Wednesday, Finance Secretary Carlos Dominguez III… Read More
Underemployment drops to lowest rate in over a decade
December 5, 2018, 7:36 pm
MANILA -- The country’s underemployment rate fell to its lowest in over a decade indicating the improvement of the quality of work nationwide, the National Economic and Development Authority (NEDA) said in a statement on Wednesday. Based on the October round of the Labor Force Survey (LFS) of… Read More
PH manufacturing output, value recover in October
December 5, 2018, 4:55 pm
MANILA -- The Philippine Statistics Authority (PSA) reported Wednesday that the country’s manufacturing output and value in October this year recovered from a year ago. PSA data show that volume of production index (VoPi) for October 2018 grew 3.9 percent, a turnaround from October 2017’s… Read More
Diokno disputes gov't underspending claims
December 5, 2018, 4:46 pm
MANILA -- Budget and Management Secretary Benjamin Diokno stressed that allegations of government underspending this year is uncalled for, citing that they even exceeded a bit in the first nine months this year due to front-loading during the dry season. In a briefing Wednesday, Diokno said… Read More
Economic managers vow more measures to ensure food security
December 5, 2018, 3:48 pm
MANILA -- Economic managers on Wednesday cited the deceleration of domestic inflation last November and committed to implement more measures that would guarantee food security to help manage inflation. In a statement issued after the Philippine Statistics Authority (PSA) reported the decline of… Read More
PH inflation rate at 4-month low of 6% in November
December 5, 2018, 2:20 pm
MANILA -- The country’s inflation rate fell to a four-month low of 6 percent in November amid government efforts to tame rising prices, indicating a downward path. The Philippine Statistics Authority (PSA) on Wednesday reported that last month’s inflation was the lowest since the 5.7-percent… Read More
Drop in November inflation to 6% 'encouraging': Espenilla
December 5, 2018, 1:24 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. on Wednesday hailed the deceleration of November 2018 inflation to 6 percent from multi-year high of 6.7 percent in September and October. In a message to reporters, he said rate of price increases in the 11th month this… Read More
8990 Holdings eye P50-B sales from projects
December 4, 2018, 8:47 pm
MANILA -- Mass housing developer 8990 Holdings Inc. expects to generate some PHP50 billion in sales next year from four current projects, including a condominium complex project in Ortigas Avenue Extension, as it beefs up its inventory to meet strong demand. “There is 6.1 million housing… Read More
Raise tobacco tax even higher, DOF urges Congress
December 4, 2018, 7:47 pm
MANILA -- The Department of Finance (DOF) will "try its best" until the last minute to convince Congress to impose new "sin" tax rates on tobacco products that will make cigarettes pricey enough to further discourage smoking, especially among teenagers. Finance Secretary Carlos Dominguez III said… Read More
Only quality cement used in NLEX Harbor Link
December 4, 2018, 7:28 pm
MANILA -- Republic Cement assured that only the highest-quality cement goes into the construction of the North Luzon Expressway (NLEX) Harbor Link Segment 10, as the Department of Public Works and Highways (DPWH) works double-time to complete the crucial elevated expressway this month. In a… Read More
