Business
PSEi improves; peso depreciates on rate cut expectations
March 12, 2019, 8:26 pm
MANILA – The Philippines’ main equities gauge recovered Tuesday but the peso weakened on expectations of fresh monetary easing by the Bangko Sentral ng Pilipinas (BSP) this year. The Philippine Stock Exchange index (PSEi) rose 0.50 percent, or 38.82 points, to 7,747.54 points. This improvement… Read More
Diokno open to 400 basis point cut in RRR over 4 quarters
March 12, 2019, 7:52 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said any policy easing move can be done not only through policy rate cuts but also by slashing the reserve requirement ratio (RRR) by as much as 400 basis points over the next four quarters. In an interview over ABS-CBN News… Read More
Insular Life launches program on women's economic empowerment
March 12, 2019, 7:51 pm
MANILA -- Insular Life, the country’s largest Filipino-owned life insurance company, is taking a notch higher its advocacy to empower women through its newest program called the InLife Sheroes. The initiative seeks to influence the relatively untapped segment of the country, such as women… Read More
Diokno eyes 7% growth for PH in 2019
March 12, 2019, 7:49 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno forecasts a 7 percent growth for the Philippine economy this 2019 on account of the delay in this year’s national budget. This growth level falls on the lower end of the 7 to 8 percent target band until 2022 set by the… Read More
Piñol junks proposal to import unhusked rice
March 12, 2019, 7:46 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol has junked the planned importation of palay or unhusked rice as it may pose danger to Philippine agriculture. "We will not allow the importation of palay (unhusked rice) because it could pose danger to our rice industry. It could also bring… Read More
DA reports P464-M initial agri damage due to El Niño
March 12, 2019, 5:56 pm
MANILA -- The Department of Agriculture (DA) reported initial losses amounting to some PHP464.27 million with an estimated volume of 22,918 metric tons (MT) of produce due to the "weak" El Nino that is affecting the country's farmlands. As of March 11, total damaged farm lands were placed at… Read More
Petron net income drops 50% on declining crude prices
March 12, 2019, 5:07 pm
MANILA -- Petron Corp. posted a 50 percent drop in 2018 net income to PHP7.1 billion, following a sustained decline in global crude prices that resulted in inventory losses of PHP10 billion for the last two months of the year, the local oil giant disclosed in a statement on Tuesday. Operating… Read More
Kaspersky offers on-demand cybersecurity service in PH
March 12, 2019, 4:57 pm
MANILA -- Cybersecurity firm Kaspersky Lab has partnered with wireless service provider, Smart Communications, and mobile content provider Zed Philippines in launching this Tuesday its on-demand cybersecurity product, which will allow Internet users to secure their mobile devices against data… Read More
CAAP leads groundbreaking of P953-M upgrade of Busuanga Airport
March 12, 2019, 4:46 pm
MANILA -- The Civil Aviation Authority of the Philippines (CAAP) on Tuesday led the groundbreaking ceremony for the PHP953.4-million Busuanga Airport development project. CAAP spokesperson Eric Apolonio said the project involves the construction of runway embankment and re-orientation of the… Read More
DOF urges Senate to pass 5% royalty fee for all miners
March 12, 2019, 3:46 pm
MANILA -- The Department of Finance (DOF) has made a last-minute appeal to the Senate to pass its original proposal of a uniform royalty rate of 5 percent for all mining operations, whether located inside or outside a mineral reservation, in line with the government’s reform objectives of making… Read More
SMC to build PH’s first recycled plastic roads
March 12, 2019, 8:32 am
MANILA -- San Miguel Corp. (SMC) is building roads out of recycled plastics to help reduce the impact of plastic waste on the environment. “This initiative is part of our push towards greater sustainability. Two years ago, we announced our major water sustainability project: to cut SMC water use… Read More
Megaworld, subsidiary allot P20-B for Cainta township
March 11, 2019, 8:40 pm
MANILA -- Property developer Megaworld Corp. and its subsidiary Empire East Land Holdings Inc. will be spending PHP20 billion to develop a new township in Cainta, Rizal, as it aims to expand its township portfolio to 30 over the next two years. Megaworld executive vice president and chief strategy… Read More
Cooperative key against poverty, says CDA chair
March 11, 2019, 8:27 pm
MANILA – With nearly 18,000 cooperatives operating in the country, Cooperative Development Authority (CDA) chairman Orlando Ravanera on Monday underscored the important role of cooperatives in addressing poverty. “As poverty is rooted in their lack of power to have access and control over… Read More
Peso closed sideways; USD; local shares down
March 11, 2019, 8:13 pm
MANILA -- The Philippine peso closed sideways against the greenback on Monday as investors express hope for a cut in the Bangko Sentral ng Pilipinas’ (BSP) key rates but the Philippine Stock Exchange index (PSEi) ended in the red due to discouraging developments abroad. The local currency ended… Read More
BSP’s peso rediscount facility availments up 500% in end-Feb.
March 11, 2019, 8:12 pm
MANILA -- Bangko Sentral ng Pilipinas’ (BSP) Peso Rediscount Facility availments jumped 500.6 percent to PHP34.895 billion in the first two months of 2019 against PHP5.81 billion during the same period last year. Data released by the BSP Tuesday showed that bulk or 57.97 percent was extended to… Read More
PH T-bill rates decline as inflation decelerates
March 11, 2019, 6:07 pm
MANILA -- Hopes for an easing of Bangko Sentral ng Pilipinas’ (BSP) policy rates lifted investors sentiment and resulted in a decline in Treasury bills (T-bills) across-the-board Monday. Rate of the 90-day paper slid to 5.716 percent from 5.733 percent during the auction last February 18. Bids… Read More
Alcohol tax to raise P237-B in 5 years
March 11, 2019, 4:48 pm
MANILA -- A proposal by Senator Emmanuel Pacquiao to increase the excise tax on alcohol products will raise additional revenues of almost PHP237 billion over a five-year period and at the same time help reduce excessive consumption of alcoholic drinks or binge drinking that is linked to vehicular… Read More
Launch of Unisys Stealth 4.0 set April 15
March 11, 2019, 3:44 pm
SYDNEY -- The latest version of the award-winning software with enhanced protection features to help clients implement "Zero Trust" networks that actively isolate malicious users and devices within minutes of identification. Unisys Corporation announced the forthcoming availability of the latest… Read More
Gasoline price hike set Tuesday; diesel stays unchanged
March 11, 2019, 3:43 pm
MANILA -- Gasoline prices are set to go up again on Tuesday, as local oil firms implement weekly price adjustments to immediately reflect changes in world crude prices. This time however, there will be no change in the prices of diesel. In separate advisories, the managements of Petron… Read More
Over 300 OFWs in NegOcc trained on entrepreneurship
March 11, 2019, 3:07 pm
BACOLOD CITY -- A total of 318 overseas Filipino workers (OFWs) in Negros Occidental have attended trainings on entrepreneurship and business planning conducted by the Department of Trade and Industry (DTI) from January to March this year. The latest batch of 28 participants attended the training… Read More
