Business
'Continuity' of work seen amid BSP leadership change
February 26, 2019, 6:12 pm
MANILA -- Malacañang on Tuesday said it expects continuity of the work in the Bangko Sentral ng Pilipinas (BSP) amid the leadership change following the demise of its governor Nestor Espenilla Jr. "I suppose it’s the same, it’s the continuity of the work done by the previous governor,"… Read More
Moody's hails Rice Tariffication Act, BSP Charter amendment
February 25, 2019, 8:11 pm
MANILA – Moody’s Investors Service considers both the rice tarrification law and the amendment in the Bangko Sentral ng Pilipinas (BSP) Charter as "plusses" that will further strengthen the central bank’s capacity. The two measures were among those signed into law by President Rodrigo R.… Read More
Major oil price hike set Tuesday
February 25, 2019, 7:59 pm
MANILA -- Filipino motorists may have to get used to higher pump prices again, as international oil prices continue marching upward. Both major and independent oil players have announced that they will implement substantial increases in the prices of petroleum products effective early morning… Read More
Smokers in PH to decrease 17% with P60 tobacco tax hike
February 25, 2019, 6:28 pm
MANILA -- Simulations jointly developed by the Departments of Finance (DOF) and Health (DOH) along with the World Health Organization (WHO) indicate that the proposal by Sen. Emmanuel Pacquiao to increase excise taxes on tobacco products to PHP60 per pack will bring down cigarette consumption by… Read More
Espenilla strengthened ‘public confidence’ on banking industry
February 25, 2019, 5:56 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. helped boost people’s confidence on the banking industry despite his “brief yet substantial” tenure. This was pointed out by the Security Bank Corporation (Security Bank) Monday as it cited Espenilla’s… Read More
Poultry growers call for 40% tariff on deboned meat
February 25, 2019, 5:36 pm
MANILA -- An alliance of poultry growers is urging the government to revert the 40 percent tariff on mechanically deboned meat (MDM) as mandated under the World Trade Organization (WTO) agreement which the Philippines recognizes. The 40 percent tariff on MDM was temporarily adjusted to 5 percent… Read More
PRRD urged to ‘promptly’ name next BSP chief
February 24, 2019, 2:47 pm
MANILA – Philippines’ economic journalists have called on President Rodrigo R. Duterte to “promptly” name the successor of Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr., who died of cancer Saturday, to address any market uncertainty.“Even as we mourn, we urge… Read More
Higher-than-programmed budget gap in '18 manageable: Dominguez
February 22, 2019, 9:38 pm
MANILA -- Finance Secretary Carlos Dominguez III has dubbed as “manageable” the government’s budget gap in 2018 even after it exceeded the 3-percent cap set by economic managers. Data released by the Bureau of the Treasury (BTr) on Friday showed that budget deficit in 2018 reached PHP558.3… Read More
PSEi, peso end week up on US-China trade talks
February 22, 2019, 6:52 pm
MANILA -- Reports that US and Chinese officials are now starting with the framework to be used for a possible trade deal between their economies boosted both the Philippine Stock Exchange index (PSEi) and the peso on Friday. PSEi gained 0.39 percent, or 30.83 points, to 7,962.3 points, which… Read More
PAL to undergo system upgrade in March
February 22, 2019, 6:30 pm
MANILA -- Flag carrier Philippine Airlines (PAL) announced Friday it will undergo a system upgrade by March, in a bid to achieve its goal of being a five-star carrier. In its official social media account, PAL announced that it would upgrade its system to Amadeus Altea to provide passengers… Read More
DA to hold nationwide consultations on rice tariffication
February 22, 2019, 6:14 pm
MANILA -- The Department of Agriculture (DA) will hold next week nationwide consultations to make stakeholders understand the details of the rice tariffication and liberalization law recently signed by President Rodrigo Duterte. "The face-to-face consultations will include leaders of rice farmers'… Read More
Expanded Maternity Leave to cost SSS P7.5-B more
February 21, 2019, 8:18 pm
MANILA -- The Expanded Maternity Leave law, which was signed into law last February 20, is expected to cost the Social Security System (SSS) an additional PHP7.5 billion in benefits. In a briefing Thursday, SSS President and Chief Executive Officer (CEO) Emmanuel Dooc said this amount is on top of… Read More
PCC raises threshold for merger notifications
February 21, 2019, 8:17 pm
MANILA -- The Philippine Competition Commission (PCC) has raised the threshold for mandatory notifications of mergers and acquisitions (M&A) to ensure that transactions will not substantially lessen competition in the market. In its statement on Thursday, the PCC said the threshold will increase… Read More
Local markets held back by external news
February 21, 2019, 8:13 pm
MANILA -- News suggesting that the Federal Reserve’s key rates will remain on their current trajectory this year resulted in the weakness of the Philippine Stock Exchange index (PSEi) and the peso Thursday. PSEi slid by 0.10 percent, or 7.94 points, to 7,931.30 points, which Regina Capital… Read More
PNB Allianz chief eyes double-digit growth in 2019
February 21, 2019, 7:03 pm
MANILA -- Allianz PNB Life Inc. Chief Executive Officer (CEO) Olaf Kliesow is optimistic about posting another double-digit growth in the company’s premiums this year on the back of an energized national economy. In an interview with journalists after the third Allianz-PNB tie-up anniversary… Read More
PH to offer 5-year RTB from February 26-March 8
February 21, 2019, 4:22 pm
MANILA -- The Bureau of the Treasury (BTr) has introduced an innovation in its Retail Treasury Bond (RTB) offering as investors can now order them through an online facility. In a Notice of Offering posted on the BTr website Thursday, the Bureau said the rate setting auction for the five-year… Read More
TUCP thanks PRRD for Expanded Maternity Leave Law
February 21, 2019, 3:20 pm
MANILA -- Not only will the 105-day Expanded Maternity Leave Law (EML) guarantee a healthier, highly productive next generation of Filipino workers, the measure will also ensure greater protection for working mothers. The consolidated enrolled bill, Senate Bill No. 1305 and House Bill No. 4113 on… Read More
PH backs Malpass as next World Bank chief
February 21, 2019, 1:39 pm
OSAKA -- The Philippine government has expressed its support for the nomination of United States Treasury Undersecretary David Malpass as the new president of the World Bank, citing his leadership as a good opportunity for the multilateral institution to work closely with the Asian Development… Read More
Mobile number portability to promote competition
February 20, 2019, 9:00 pm
MANILA -- The Department of Information and Communications Technology (DICT) believes a law that will allow mobile phone users to keep their numbers even after they change service providers will promote competition in the local telecommunications industry. In a statement on Wednesday, DICT Acting… Read More
Manulife exec bullish about PH bond market in 2019
February 20, 2019, 8:05 pm
MANILA -- An executive of Manulife Asset Management expressed optimism about the Philippine bond market this year in the wake of a marked deceleration in inflationary pressures. In a briefing Wednesday, Thierry Taglione, Asia head for Manulife Asset Management’s Client Portfolio Management, said… Read More
