Business
Smart cited for offering fastest download speed in PH
March 25, 2019, 5:32 pm
MANILA -- PLDT wireless subsidiary, Smart Communications, has been recognized by a German technology consultancy firm to have the fastest download speed in the country today. In a statement on Monday, Smart said it was awarded by P3 Communications GmbH for gaining the highest download speed score… Read More
Inter-agency task force fast-tracks list of foreign POGO workers
March 25, 2019, 2:28 pm
MANILA -- An inter-agency task force formed to monitor the number of foreign nationals employed in Philippine offshore gaming operations (POGOs) is fast-tracking measures to finalize a complete list of these workers with the goal of collecting an estimated PHP22 billion or more yearly in income… Read More
SteelAsia exports to Canada
March 24, 2019, 8:00 pm
MANILA — Philippine-made steel products have penetrated the Canadian market, with the country’s largest steelmaker SteelAsia Manufacturing Corp. shipping reinforcing bars or rebars to the North American country. In a statement on Sunday, SteelAsia said this is the first export of the company… Read More
PAL system upgrade successful
March 24, 2019, 7:29 pm
MANILA -- Flag carrier Philippine Airlines (PAL) said its system upgrade was successful as of 3 p.m. Sunday. “We are very pleased with the successful transition to (PAL's) new passenger services system, Amadeus Althea Suite. All direct channels -- internet booking engine, ticketing offices,… Read More
PAL announces system upgrade this weekend
March 23, 2019, 4:39 pm
MANILA -- Flag carrier Philippine Airlines (PAL) announced Saturday that it will undergo a system upgrade until Sunday. Online check-in, booking, re-booking and redemption of "Mabuhay Miles" will be temporarily unavailable during this period. Passengers are advised to bring an e-copy of their… Read More
Peso improves, PSEi rises to 8K-level
March 22, 2019, 8:24 pm
MANILA -- Both the Philippine peso and main stocks gauge ended the week at better levels after the Bangko Sentral ng Pilipinas (BSP) decided to keep key rates steady. The local currency ended the day at 52.32 from 52.84 Thursday, which was traced to the BSP’s decision. The BSP’s policy-making… Read More
BSP exec explains TDF volume offer
March 22, 2019, 7:51 pm
MANILA -- A ranking Bangko Sentral ng Pilipinas (BSP) official said the expected higher demand for cash during the Holy Week and the tax filing season made monetary officials decide not to offer the 28-day term facility on March 27. BSP Deputy Governor Diwa Guinigundo told reporters Thursday the… Read More
DA calls anew for temporary ban on palm oil imports
March 22, 2019, 7:07 pm
MANILA -- The Department of Agriculture (DA) has reiterated its earlier recommendation for a "temporary ban" on palm oil imports, as Filipino coconut and oil palm farmers complain of extremely low prices due to the dumping of the commodity by two major palm oil-producing countries in Southeast… Read More
DA suspends onion importation
March 22, 2019, 6:19 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol on Friday ordered the suspension of importation of bulb onions, pending the results of the investigation of the Philippine Competition Commission (PCC) and the National Bureau of Investigation (NBI) into the reported "cartel", which is… Read More
Copra up P20/kg amid low demand
March 22, 2019, 5:22 pm
MANILA -- The Department of Agriculture (DA) has made a deal with the government-owned oil management group to increase copra's mill gate buying price to PHP20 per kilo. Coconut Industry Investment Fund (CIIF) president Lino Trinidad announced this during the consultation with the DA and coconut… Read More
LTFRB junks Go-Jek’s accreditation for TNC
March 22, 2019, 4:15 pm
MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has denied the application of Indonesian-based ride-hailing firm Go-Jek as a transportation network company (TNC) in the country due to non-compliance with the nationality requirements set by the Philippine Constitution. In… Read More
NEDA’s long-term vision program up for review in April
March 22, 2019, 12:58 pm
ILOILO CITY -- The “Ambisyon Natin 2040” of the National Economic and Development Authority (NEDA) will be subjected to a mid-term review to assess what it has accomplished in the past three years. Director Reynaldo R. Cancio, NEDA’s National Planning Staff, said Thursday the review of the… Read More
Access MBA to meet business pros in Manila in April
March 21, 2019, 8:41 pm
MANILA -- To help business professionals find a graduate degree program that would suit their professional background and expectations, Access MBA, a global leader in one-to-one business education events, will hold an international Master of Business Administration (MBA) event in Manila. The… Read More
Economists continue to see key rate, RRR cuts in 2019
March 21, 2019, 8:36 pm
MANILA -- Economists foresee a continued reduction in the Bangko Sentral ng Pilipinas’ (BSP) key rates as well as the reserve requirements for banks due to a sustained deceleration in the country's inflation rate. This, even after BSP’s policy-making Monetary Board (MB) kept key rates steady… Read More
DA records P1.33-B agri damage due to El Niño
March 21, 2019, 7:30 pm
MANILA -- The Department of Agriculture (DA) on Thursday reported that the "weak" El Niño currently affecting the country has already brought about some PHP1.33 billion in damages to crops. DA Undersecretary for Operations Ariel Cayanan, in an interview with the Philippine News Agency, said an… Read More
BSP keeps policy rates steady, cuts 2019 inflation forecast
March 21, 2019, 6:58 pm
MANILA -- Expectations of more moderate inflation, as well as firm domestic growth, caused the Bangko Sentral ng Pilipinas' (BSP) policy-making Monetary Board (MB) to keep key rates steady Thursday. Thus, the rate of the overnight reverse repurchase (RRP) facility is still at 4.75 percent, the… Read More
6.4% GDP growth in 2019 still possible
March 21, 2019, 4:29 pm
MANILA -- A 6 percent level growth can still be achieved by the Philippine economy this year despite the anticipated impact of the budget impasse in Congress, an official of Security Bank Corporation (Security Bank) said. In a briefing before the bank’s economic forum in Mandaluyong City… Read More
URC inaugurates Davao flour mill to meet growing demand
March 21, 2019, 4:11 pm
MANILA -- The Gokongwei-led Universal Robina Corporation (URC) has inaugurated a new mill in Davao to meet the country’s growing demand for high-grade flour. “We are bullish because we are buoyed by the prospects of the continued forecast of growth for wheat demand in the Philippines in the… Read More
Subic shoe factory to hire 1,500 more workers
March 20, 2019, 8:58 pm
SUBIC BAY FREEPORT -- Datian Subic Shoes, Inc., the manufacturer of popular shoe brands like Vans and Keds, has committed some USD6 million to expand its operations in this Freeport. Subic Bay Metropolitan Authority (SBMA) chairman and administrator Wilma T. Eisma welcomed the development, noting… Read More
Peso ends sideways; local shares recover
March 20, 2019, 8:55 pm
MANILA -- Expectations that the US Federal Reserve will take a dovish stance, at least for now, allowed the Philippine peso to close sideways against the greenback Wednesday and the Philippine Stock Exchange index (PSEi) to recover. The local currency ended the day's session at 52.81 from 52.83 a… Read More
