Business
Rates of PH T-bills up further
November 19, 2018, 6:20 pm
MANILA -- The Bureau of the Treasury’s (BTr) auction committee fully awarded all tenors of its Treasury bills (T-bills) Monday even with the uptick in rates. Average rate of the bellwether 91-day T-bill rose to 5.295 percent from 5.172 percent during the auction last November 12. BTr offered it… Read More
Value of fake goods seized reach P18-B at end-Sept.
November 19, 2018, 5:14 pm
MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) reported on Monday that a total of PHP17.9 billion worth of pirated and counterfeit goods were confiscated from January to September this year. The amount of goods seized over the nine-month period already represents an 840… Read More
Oil prices fall for the 6th straight week
November 19, 2018, 5:13 pm
MANILA -- Local oil firms will once more rollback pump prices Tuesday (Nov. 20), the 6th week in a row, due largely to the steady decline of world crude prices. They announced price reductions of PHP1.25 per liter on unleaded gasoline, PHP1.10 per liter on diesel, and PHP0.80 per liter on… Read More
High-level PH-Japan infra meeting set in Manila Wednesday
November 19, 2018, 3:45 pm
MANILA -- Philippine and Japanese officials will hold their sixth meeting on infrastructure and economic cooperation this Wednesday (Nov. 21) in Manila to discuss the processing of new concessional loan agreements that would provide the Duterte administration’s “Build, Build, Build” program… Read More
AboitizPower donates P5.6-M electrical equipment to Marawi
November 19, 2018, 1:52 pm
MANILA -- The Aboitiz Group has turned over a total of PHP5.6 million worth of electrical equipment in Marawi City as part of the rehabilitation efforts in the war-torn area. In a statement Monday, AboitizPower Corp. said its subsidiary Davao Light Power Company, Inc. (DLPC) donated early this… Read More
PH, Papua New Guinea to launch joint eco, trade committee
November 18, 2018, 6:13 pm
MANILA -- The trade departments of the Philippines and Papua New Guinea will establish a Joint Economic and Trade Committee (JETC) following the signing of a Memorandum of Understanding (MOU) on the sidelines of the Asia Pacific Economic Cooperation (APEC) Summit. Department of Trade and Industry… Read More
Pagudpud welcomes coffee farm development
November 17, 2018, 9:03 am
LAOAG CITY—The local government of Pagudpud has welcomed the development of coffee farming in the northernmost part of the province to generate more livelihood opportunities for farmers. Through a proposed public and private partnership , the Ilocos Norte government, through the Environment and… Read More
Max’s Group records 32% profit jump in Q3
November 16, 2018, 8:25 pm
MANILA -- Max’s Group, Inc. (MGI), the Philippines’ largest casual dining restaurant chain, on Friday reported a net income of PHP118.5 million for the third quarter of 2018, up 32 percent from PHP90 million for the same period last year. For the first nine months, system wide sales grew 9… Read More
FPI transactions resulted in net outflow in October: BSP
November 16, 2018, 8:06 pm
MANILA -- Registered investments for the month of October 2018 amounted to USD953 million, reflecting a 28.2 percent increase from the USD743 million figure in September. In contrast, this represented a 31.2 percent decline from the USD1.4 billion level recorded during the same month a year ago,… Read More
PSEi hits 7,000-level, Peso up slightly in Friday trading
November 16, 2018, 6:07 pm
MANILA -- The Philippine Stock Exchange index (PSEi) climbed to the 7,000-level while the peso gained a little more ground against the greenback as the week's trading closed, due partly to another hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates. The main equities index ended the week at… Read More
SSS collects over P6-B in Central Luzon
November 16, 2018, 4:21 pm
SAN FERNANDO, Pampanga -- The Social Security System (SSS) collected PHP6.01 billion in members’ contributions under its Luzon Central 2 offices during the first nine months of 2018, up by 10.7 percent from PHP5.43 billion in the same period last year. SSS President and Chief Executive Officer… Read More
BSP rates likely to be steady till 2019: ANZ Research
November 16, 2018, 2:50 pm
MANILA -- ANZ Research discounted any additional adjustments in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates until 2019, if global oil prices remain relatively steady and if supply-side measures put in place to address inflation are effectively implemented. In a study, the Australia,… Read More
DMCI order book up 8% to P28.5B
November 15, 2018, 8:41 pm
MANILA -- D.M. Consunji, Inc. (DMCI), the construction arm of DMCI Holdings, Inc., signed P10.6 billion worth of new projects from January to September, raising its total order book by eight percent compared to PHP26.3 billion during the same period last year. Building projects accounted for most… Read More
Local markets up due partly to BSP rate hike
November 15, 2018, 8:01 pm
MANILA -- Philippines’ main equities gauge rose for the second consecutive day ahead of Bangko Sentral ng Pilipinas’ (BSP) announcement on its latest policy rate decision, while the peso also regained lost ground, reverting to the 52-level against the greenback on Thursday's session. The… Read More
GT Capital posts flat profit growth in Jan.-Sept.
November 15, 2018, 7:55 pm
MANILA -- Top management of GT Capital Holdings Inc. remains confident that it is on track to achieve single-digit profit growth this year, driven by strong growth of financial services, property and insurance segments. This, even after the conglomerate posted flat net income at PHP11 billion from… Read More
Monetary Board adjusts average inflation forecasts
November 15, 2018, 7:27 pm
MANILA -- Average inflation forecasts for 2018-20 were raised after the Monetary Board (MB) took stock of more recent economic developments both here and abroad. The Bangko Sentral ng Pilipinas (BSP) made this announcement alongside the additional raising of its key rates by an additional 25 basis… Read More
BSP hikes rates by an additional 25 bps
November 15, 2018, 6:37 pm
MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Thursday hiked key policy rates by an additional 25 basis points despite recent numbers indicating that inflation has steadied. This was the fifth increase this year, bringing rates to its highest level since… Read More
MLM firm banking on health-consciousness boom
November 15, 2018, 5:25 pm
MANILA -- QDynamics Global Corp., a Filipino multilevel marketing (MLM) company, is banking on the growing number of health-conscious consumers in the country, as it expands its product line. On Thursday, QDynamics President and Chief Executive Officer Delia Maceda said the company is launching… Read More
Moody’s affirms BPI’s credit ratings
November 15, 2018, 4:23 pm
MANILA -- The Bank of the Philippine Island’s (BPI) Baa2 rating with Stable outlook was affirmed by Moody’s Investors Service on Thursday, citing that the bank’s deposit rating is underpinned by its baseline credit assessment (BCA). These ratings cover the Ayala-led bank’s local and… Read More
Prime Water wins as New Clark City water supplier
November 15, 2018, 3:54 pm
MANILA -- The Bases Conversion and Development Authority (BCDA) on Thursday named a Filipino-Israeli consortium as the winning bidder for New Clark City's water supply services. In a statement, BCDA said the consortium of Prime Water Infrastructure Corp. with PAVI, MGS Construction, Inc., and… Read More
