Business

DICT firm on identifying 3rd telco player by December

DICT firm on identifying 3rd telco player by December

October 3, 2018, 10:00 am

MANILA -- The Department of Information and Communications Technology (DICT) is sticking to its timeline to identify the third telco player by December. DICT Acting Sec. Eliseo Rio Jr. announced that the deadline for submission and opening of bids is on November 7. “Considering that this has… Read More

DTI wants retailers to import rice, sugar

DTI wants retailers to import rice, sugar

October 2, 2018, 9:13 pm

MANILA -- Trade Secretary Ramon Lopez said retailers may be permitted to directly import rice and sugar, but retail prices will be set by government. Lopez told reporters that this price setting system is in line with the Administrative Order 13 released by Malacañang Palace last month, directing… Read More

Crafting of National Intellectual Property Strategy complete

Crafting of National Intellectual Property Strategy complete

October 2, 2018, 7:36 pm

MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) has completed the formulation of National Intellectual Property Strategy (NIPS) as a tool to help propel economic growth, the agency disclosed in a statement Tuesday. IPOPHL Director General Josephine Santiago announced during… Read More

Local markets weaken on oil price upticks, USMCA

Local markets weaken on oil price upticks, USMCA

October 2, 2018, 7:23 pm

MANILA -- Philippine equity gauges all finished in the red Tuesday and the peso followed after news about the last minute deal between the US, Canada and Mexico, which effectively replaces the 25-year-old North American Free Trade Agreement (NAFTA) The Philippine Stock Exchange index (PSEi) lost… Read More

BSP likely to keep rates steady in Q4: economist

BSP likely to keep rates steady in Q4: economist

October 2, 2018, 7:22 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) will likely keep key policy rates steady in the last quarter of the year, after raising them by a total of 150 basis points this year, as inflation pressures relax, an economist of IHS Markit has forecast. In a reply to an e-mail from the Philippine… Read More

6%-level GDP growth for PH still possible

6%-level GDP growth for PH still possible

October 2, 2018, 6:43 pm

MANILA -- An official of Sun Life of Canada (Philippines) Inc. (SLOCPI) forecasts a 6.4 percent growth for the Philippine economy this 2018, lower than the government’s seven to eight percent target, but still among the highest in the region. In an interview with the Philippine News Agency… Read More

Innovation hubs eyed nationwide

Innovation hubs eyed nationwide

October 2, 2018, 6:22 pm

MANILA -- The Department of Trade and Industry (DTI) is seeking to establish innovation centers nationwide to promote what is referred to as “an inclusive innovation ecosystem” in the country. During the Inclusive Innovation Conference 2018 in Pasay City Tuesday, the DTI launched the… Read More

PSEi seen to recover after inflation peak

PSEi seen to recover after inflation peak

October 2, 2018, 3:49 pm

MANILA -- The local bourse as reflected by the Philippine Stock Exchange index (PSEi), is expected to make a comeback in coming weeks, if inflation has indeed peaked last August, an economist of the Landbank of the Philippines (Landbank) said. The Philippine Statistics Authority (PSA) is scheduled… Read More

Diokno discounts change in 3% of GDP budget deficit cap

Diokno discounts change in 3% of GDP budget deficit cap

October 2, 2018, 1:59 pm

MANILA – Philippine economic managers are sticking with their original three percent budget deficit cap for 2018 and 3.2 percent for 2019 in anticipation of higher infrastructure spending, amid a suggestion from International Monetary Fund (IMF) to cut this to 2.4-2.5 percent of domestic output.… Read More

Big hike in local pump prices

Big hike in local pump prices

October 2, 2018, 12:43 pm

MANILA – With soaring world crude prices as a backdrop, local oil companies implemented a big time increase in pump prices effective 6 a.m. Tuesday, Oct. 2. In separate announcements, oil firms said prices of diesel increased by PHP1.35 per liter, unleaded gasoline by PHP1 per liter, and… Read More

Local markets down ahead of September inflation report

Local markets down ahead of September inflation report

October 1, 2018, 9:35 pm

MANILA – Investors were again on the wait-and-see mode ahead of September's inflation data, resulting in a negative close for both the Philippine Stock Exchange index (PSEi) and the peso Monday. The main stocks gauge shed 0.75 percent, or 54.74 points, to 7,222.08 points, which Landbank market… Read More

BTr rejects bids for 91-day T-bills

BTr rejects bids for 91-day T-bills

October 1, 2018, 9:33 pm

MANILA – Demand for higher yields prompted the Bureau of the Treasury (BTr) to reject all bids for the 91-day Treasury bill (T-bill) Monday and partially award the 182-day paper. The average rate of the bellwether 91-day bill would have risen by 113 basis points to 4.679 percent from 3.549… Read More

Ang to chair 44th Philippine Business Conference and Expo

Ang to chair 44th Philippine Business Conference and Expo

October 1, 2018, 8:21 pm

MANILA – Tycoon Ramon Ang of San Miguel Corp. will be chairing the 44th Philippine Business Conference and Expo (PBCE), the annual two-day business summit of the Philippine Chamber of Commerce and Industry (PCCI), the group announced Monday. This year’s PBCE is slated on Oct.18 to 19 at the… Read More

Diokno vows funding for nationwide greening program

Diokno vows funding for nationwide greening program

October 1, 2018, 8:00 pm

MANILA – Department of Budget and Management (DBM) Secretary Benjamin Diokno vowed to provide funding for environmental projects until 2022, following the success of the Duterte administration's first greening program. In his speech during the launch and recognition program for the “Green,… Read More

PH's September manufacturing index tops ASEAN

PH's September manufacturing index tops ASEAN

October 1, 2018, 7:11 pm

MANILA – The Philippines' manufacturing sector surpassed the performance of its Southeast Asian neighbors in September, as shown by the latest purchasing managers’ index (PMI) survey, IHS Markit reported Monday. In its Nikkei manufacturing PMI for September, the Philippines scored 52, which is… Read More

PH can tap India's USD1-B loan facility for infra program

PH can tap India's USD1-B loan facility for infra program

October 1, 2018, 1:50 pm

MANILA -- A USD1-billion loan facility being offered by India to economies within the Association of Southeast Asian Nations (ASEAN) is available to the Philippines to help fund its “Build, Build, Build” program and digital connectivity projects, the Department of Finance (DOF) said in a… Read More

TRABAHO bill sets P25-B for IT-BPO

TRABAHO bill sets P25-B for IT-BPO

September 30, 2018, 11:39 am

MANILA -- The Tax Reform for Attracting Better and High-quality Opportunities or TRABAHO bill is allocating PHP25 billion for five years for the information technology and business process outsourcing (IT-BPO) sector to upscale the skills of its employees. Department of Trade and Industry (DTI)… Read More

PLDT signs new deal with software firm for IT infra upgrade

PLDT signs new deal with software firm for IT infra upgrade

September 28, 2018, 9:08 pm

MANILA -- PLDT has expanded its partnership with international software company Amdocs for the modernization of its IT infrastructure as it focuses on providing digital services to its subscribers. The telco firm has signed a new agreement with Amdocs for the management and development of PLDT and… Read More

IMF supports PH rice tariffication bid

IMF supports PH rice tariffication bid

September 28, 2018, 9:05 pm

MANILA -- The International Monetary Fund (IMF) supports the Philippine government’s bid to implement rice tariffication instead of the rice importation quota system but stressed the need to safeguard the welfare of small farmers. In a statement issued on September 27, 2018 in relation to the… Read More

BSP rate hike boosts peso but local stocks slip

BSP rate hike boosts peso but local stocks slip

September 28, 2018, 9:04 pm

MANILA -- The Philippine peso ended the week on a positive note, inspired by the additional hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates Thursday but the Philippine Stock Exchange index (PSEi) got the jitters due to an International Monetary Fund (IMF) report citing risks to the… Read More