Business
Grab rolls out premium tricycle services
November 5, 2018, 7:15 pm
MANILA -- Ridesharing firm Grab Philippines will be rolling out its premium tricycle services nationwide through its partnership with AutoItalia Philippines which is the local distributor of three-wheeled Piaggio Ape vehicles. In a statement Monday, Grab Philippines Country Head Brian Cu said… Read More
PH T-bill rates up amid investors' cautiousness
November 5, 2018, 7:07 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) rose across-the-board Monday, as National Treasurer Rosalia De Leon revealed that yields being sought by investors have moderated compared to recent weeks. Average rate of the bellwether 91-day T-bill went up by 9.80 basis points to 5.077… Read More
PLDT deploys 5G services in Clark
November 5, 2018, 5:32 pm
MANILA -- Major telco PLDT Inc. has begun building the infrastructure needed to deploy fifth generation (5G) technology in the Clark Freeport Zone, which the company's management said is part of efforts to deliver fast and affordable mobile services to customers. This, as PLDT and its wireless… Read More
NEDA sees FDI rise on eased foreign investment restrictions
November 5, 2018, 5:27 pm
MANILA -- The National Economic and Development Authority (NEDA) expects a further increase in foreign direct investments (FDI) next year due to the newly-signed 11th regular Foreign Investment Negative List (FINL). In a press briefing on Monday, Socioeconomic Planning Secretary Ernesto Pernia… Read More
PH exhibitors seek buyers in China import expo
November 5, 2018, 4:38 pm
MANILA -- A total of 57 Filipino exhibitors are taking part in the first China International Import Expo (CIIE) in Shanghai, in hopes of striking deals with Chinese buyers. Department of Trade and Industry (DTI) Secretary Ramon Lopez is leading the Philippine delegation in the CIIE. According to… Read More
Manufacturing sector's PMI soars in October
November 5, 2018, 1:39 pm
MANILA -- The Philippine manufacturing sector, as reflected by the purchasing managers’ index (PMI) in October posted a 10-month high score of 54, from its previous score of 52 in September, indicating an uptick in the sector's activity to usher-in the fourth quarter. IHS Markit's Nikkei PMI… Read More
Japanese firm plans to invest P40-B to expand operations in PH
November 5, 2018, 1:13 pm
MANILA -- Japanese electronics firm, Murata Manufacturing, plans to invest PHP40 billion to expand its operations in the country, Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said Monday. Plaza said Murata targets to construct new manufacturing buildings to produce new… Read More
Oil prices fall for 4th week in a row
November 4, 2018, 2:14 pm
MANILA -- Oil firms announced to cut fuel prices on Monday, reducing pump prices for four consecutive weeks. Most of the oil companies will rollback gasoline prices by PHP1 per liter, PHP0.90 per liter on diesel, and PHP0.65 per liter on kerosene. Other firms, on the other hand, will cut prices of… Read More
BPO sector more threatened by AI than tax measures: Dominguez
November 2, 2018, 3:18 pm
MANILA -- The increasing use of artificial intelligence (AI) -- not new tax measures -- are the real threat to the country’s business process outsourcing (BPO) sector, Finance Secretary Carlos Dominguez III said. “The development of AI around the world is very rapid and it is going to… Read More
Moody's eyes 25 bps hike in BSP rates by yearend
November 2, 2018, 3:04 pm
MANILA -- Moody’s Analytics projects a further increase of 25 basis points in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates before the end of 2018. In a publication issued Friday, the research firm said the additional increase in the central bank’s key rates is projected “to tame… Read More
Moody's Analytics sees 6.3% GDP growth for Q3 '18
November 2, 2018, 2:43 pm
MANILA -- Moody’s Analytics forecasts a 6.3-percent growth of the Philippine economy in the third quarter of 2018 due to better investment and robust domestic demand. This projection is higher than the 6-percent output, as measured by gross domestic product (GDP), registered in the second… Read More
Sputnik news agency eyes expansion in SE Asia
November 2, 2018, 12:27 pm
MOSCOW -- Moscow-based international news agency, Sputnik News Agency and Radio, is looking to expand its newswire and radio services to Southeast Asia in the near future, a top official said. Sputnik Head of International Projects Vasily Pushkov said Thursday this development comes given the… Read More
Military pension fund OK’d in principle: DOF chief
November 1, 2018, 6:33 pm
MANILA -- President Rodrigo R. Duterte has approved the guidelines for creating a unit in the Government Service Insurance System (GSIS) that will manage the proposed pension fund for military personnel. “The President has already approved the basic outline of the pension plan and they are… Read More
Diokno optimistic of further rise in gov't spending
November 1, 2018, 5:56 pm
MANILA -- Budget and Management Secretary Benjamin Diokno is optimistic about further increase of government spending but sees the budget deficit will not hit the three percent of gross domestic product (GDP) target. “Most likely we’ll be below the target... but higher than last year,” he… Read More
Dominguez, new BOC chief meet to tackle ways to hit revenue goals
November 1, 2018, 2:49 pm
MANILA -- Finance Secretary Carlos Dominguez III has met with newly-appointed Bureau of Customs (BOC) Commissioner Rey Leonardo Guerrero to discuss ways to achieve the agency’s revenue goals and at the same time address corruption. In a message to reporters, Dominguez confirmed he met with… Read More
PH protests drop in Doing Business 2019 report ranking
November 1, 2018, 8:58 am
MANILA -- The Philippines government has protested the decline in the country's ranking in the Doing Business 2019 report of the World Bank to the 124th spot from 113th in the 2018 index. The World Bank ranking came despite the country’s ease of doing business score improving by 1.36 points to… Read More
Term deposit rates up anew
October 31, 2018, 8:49 pm
MANILA -- The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose across-the-board Wednesday and banks have submitted bids higher than the offering, even before the long weekend. Data released by the BSP showed the rate of the seven-day TDF improved to 4.7249 percent… Read More
PH, Japan to sign loan deal for MRT rehab next week
October 31, 2018, 7:39 pm
MANILA -- The governments of the Philippines and Japan will sign a loan agreement for the rehabilitation of the Metro Rail Transit Line 3 (MRT-3) on November 7, a Department of Transportation (DOTr) official said Wednesday. “We have finalized the signing of the exchange of notes and the loan… Read More
PSEi tracks Wall Street's rise, peso gains vs. dollar
October 31, 2018, 7:37 pm
MANILA -- Both the local bourse and the Philippine peso ended the week on a positive note, mirroring the outcome of US stocks ahead of the long holiday. The Philippine Stock Exchange index (PSEi) finished the shortened trading week at 7,140.29 points, up 1.77 percent or 124.23 points. All the… Read More
Petron to cut LPG prices
October 31, 2018, 7:34 pm
MANILA -- Industry leader Petron Corp. has announced a rollback in the prices of liquefied petroleum gas (LPG) effective Thursday. Petron on Wednesday said it will cut prices of Gasul and Fiesta cooking gas by PHP7.50 per kilogram, and Auto LPG by PHP4.20 per liter. “This is equivalent to an… Read More
