Business

SEIPI hopeful gov't will hear its side on proposed CIT reform

SEIPI hopeful gov't will hear its side on proposed CIT reform

November 22, 2018, 7:10 pm

MANILA -- Officials of the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) are hopeful that government will consider their suggestions on the proposed corporate income tax (CIT) reform, noting that while the group supports the measure, there are certain… Read More

PH, Japan exchange notes on North-South Commuter Railway

PH, Japan exchange notes on North-South Commuter Railway

November 22, 2018, 4:04 pm

MANILA -- The governments of the Philippines and Japan have signed an exchange of notes over the North-South Commuter Railway (NSCR) Extension Project on Wednesday. The exchange of notes was signed by Department of Foreign Affairs Secretary Teodoro Locsin Jr. and Japanese Ambassador Koji Haneda… Read More

DOE opens application for exploration contracts

DOE opens application for exploration contracts

November 22, 2018, 3:47 pm

MANILA -- The Department of Energy (DOE) will be accepting the applications of parties interested in exploring for untapped energy resources in the country, within the next six months. The DOE formally launched the Philippine Conventional Energy Contracting Program (PCECP) in Taguig City on… Read More

Speedy nod to Japan-funded infra projects laudable: Dominguez

Speedy nod to Japan-funded infra projects laudable: Dominguez

November 21, 2018, 10:12 pm

MANILA -- Finance Secretary Carlos Dominguez III on Wednesday lauded the speedy approval of infrastructure projects to be funded by the Japanese government as well as the processing time for related loans, saying this was born out of greater cooperation between the two countries. In his opening… Read More

UN, PH partner on sustainable development priorities

UN, PH partner on sustainable development priorities

November 21, 2018, 9:34 pm

MANILA -- The United Nations (UN) expects to mobilize USD506.63 million in funding to help the Philippines implement its priority programs on sustainable development and inclusive growth over the next five years. The Philippine government, represented by National Economic and Development Authority… Read More

PH T-bond rate down due to strong demand

PH T-bond rate down due to strong demand

November 21, 2018, 9:13 pm

MANILA -- The rate of the Philippines’ five-year Treasury bond (T-bond) fell by 34 basis points Wednesday, attracting a large amount of bids, which in-turn prompted the auction committee to make a full award. Average rate of the debt paper declined to 7.003 percent from 7.342 percent it fetched… Read More

Torre Lorenzo, Dusit Thani sign deal for hotel business in Lipa

Torre Lorenzo, Dusit Thani sign deal for hotel business in Lipa

November 21, 2018, 8:37 pm

MANILA -- Torre Lorenzo Development Corp. (TLDC) on Wednesday signed an agreement with Dusit International and Dusit Thani Philippines, Inc. for the development of the Dusit Princess Hotel in Lipa, Batangas. Dusit Princess Lipa is part of the three-tower Tierra Lorenzo project of TLDC, wherein the… Read More

TDF rates, bid coverage ratio up

TDF rates, bid coverage ratio up

November 21, 2018, 8:34 pm

MANILA -- The rates of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) rose across-the-board Wednesday in line with the rise of central bank’s key policy rates. Rate of the seven-day facility improved to 4.9738 percent from 4.8291 percent during the auction last November 14.… Read More

IPC launches content service network in PH

IPC launches content service network in PH

November 21, 2018, 7:24 pm

MANILA -- Cloud services provider, IP Converge Data Services Inc. (IPC), has partnered with Singapore-based digital media solutions provider Conversant Solutions to offer the country’s first local content service delivery network (CDN) that will reportedly enhance the delivery of Internet-based… Read More

PH exporters urged to use free trade deal with EFTA

PH exporters urged to use free trade deal with EFTA

November 21, 2018, 6:53 pm

MANILA -- The Department of Trade and Industry (DTI), together with the embassies of Norway and Switzerland, is urging Philippine-based exporters to take advantage of the free trade agreement (FTA) between the Philippines and European Free Trade Association (EFTA). DTI Undersecretary Ceferino… Read More

Peso remains strong; local stocks slide

Peso remains strong; local stocks slide

November 21, 2018, 6:27 pm

MANILA -- The Philippine peso remained firm against the US dollar Wednesday but the Philippine Stock Exchange index (PSEi) ended its five-day winning streak in sympathy reaction to US markets. The local currency managed to finish the day at 52.35 from 52.39 Tuesday. A trader said the peso was able… Read More

PH on track to hit 2018 expenditure program

PH on track to hit 2018 expenditure program

November 21, 2018, 6:26 pm

MANILA -- The Philippine government exceeded by 2.6 percent its spending program target for the first three quarters of 2018, which made Budget and Management Secretary Benjamin Diokno more optimistic about hitting this year’s PHP3.364-trillion goal. Data released by the Department of Budget and… Read More

5 Asian firms seen to bag rice supply contracts

5 Asian firms seen to bag rice supply contracts

November 21, 2018, 5:14 pm

MANILA -- The National Food Authority (NFA) disclosed that it is poised to award the contracts for the import of 500,000 metric tons (MT) of rice to five Asian suppliers, the first half of which is expected to arrive not later than Dec. 31 this year. The five traders, with bid offers lower than… Read More

BPI BanKo partners with BSP for exchange of unfit currencies

BPI BanKo partners with BSP for exchange of unfit currencies

November 21, 2018, 4:13 pm

MANILA -- Ten branches of BPI Direct BanKo (BanKo) nationwide will start accepting unfit currencies starting December 3, 2018 as part of the bank's partnership with the Bangko Sentral ng Pilipinas (BSP), to jointly promote coins recirculation and the Clean Notes program. These are its branches in… Read More

PH, China steel firm ink USD3.5-B investment deal

PH, China steel firm ink USD3.5-B investment deal

November 21, 2018, 1:38 pm

MANILA -- Chinese steel manufacturer Panhua Group Co., Ltd. formally signed a memorandum of understanding (MOU) with the Department of Trade and Industry (DTI), the Philippine Economic Zone Authority (PEZA) and the PHIVIDEC Industrial Authority for its USD3.5-billion investment in the Philippines,… Read More

Avida Land eyes P4B sales from Cloverleaf residential project

Avida Land eyes P4B sales from Cloverleaf residential project

November 20, 2018, 9:03 pm

MANILA – Ayala-led property developer Avida Land Corp. expects to generate PHP4 billion in sales from the second tower of its multi-tower residence in Cloverleaf in Balintawak, Quezon City, mainly driven by an increasing demand for housing across the country. “The total number of housing… Read More

PH, Switzerland sign new air services deal

PH, Switzerland sign new air services deal

November 20, 2018, 8:12 pm

MANILA -- The governments of the Philippines and Switzerland on Tuesday signed a new air services agreement, which is expected to lead to a notable increase in flights between the two countries. The agreement was signed by Department of Transportation (DOTr) Undersecretary for Aviation Manuel… Read More

South Korean firms to build farm machinery plant in PH

South Korean firms to build farm machinery plant in PH

November 20, 2018, 8:04 pm

MANILA -- More than 30 South Korean companies will construct a farm equipment and machinery assembly plant in the Philippines next year, in line with the government’s aggressive mechanization program that aims to boost farm productivity. “The assembly plant is expected to be operational by… Read More

Strong PH-China ties to reduce poverty: Dominguez

Strong PH-China ties to reduce poverty: Dominguez

November 20, 2018, 7:40 pm

MANILA -- Finance Secretary Carlos Dominguez III has stressed that the new age of cooperation between the Philippines and China, as made abundantly clear by Chinese President Xi Jinping's ongoing visit, will go a long way towards poverty reduction and improving the Filipinos' overall quality of… Read More

Declining global oil prices boost PH markets

Declining global oil prices boost PH markets

November 20, 2018, 7:16 pm

MANILA -- The continued decline in world crude prices has sustained the Philippine peso’s strength against the US dollar while news that a global furniture company plans to invest in the Philippines has lifted the Philippine Stock Exchange index (PSEi). The local currency on Tuesday gained… Read More