PH announces 10-year Global bond offer

MANILA -- The Philippine government on Thursday announced its latest 10-year global bond offering, which will be issued with a swap offer for 14 series of bonds maturing between 2019 and 2037.In a statement posted on the Bureau of the reasury (BTr) website, the government gave no indicative amount... Read More

PSEi, peso slip anew on profit-taking

MANILA - - Profit-taking hurt the Philippine Stock Exchange index (PSEi) for the second day in a row on Thursday, which in turn disadvantaged the peso more.PSEi shed 0.32 percent, or 28.25 points, to 8,820.74 points, which a trader attributed to investors’ anticipation ahead of the earnings... Read More

Banks ‘business as usual’ in Mayon-affected areas

MANILA -- The Bankers Association of the Philippines (BAP) has assured bank clients in areas affected by the looming eruption of Mayon Volcano of continued bank services.In a statement, the BAP called on affected people to simply coordinate with their local bank branches "to ensure that their... Read More

PSE P3.16-B stock offer gets SEC’s nod

MANILA -- The Securities and Exchange Commission (SEC) has approved a plan by the Philippine Stock Exchange Inc. (PSE) to raise PHP3.16 billion through a stock rights offering.The corporate regulator allowed the PSE to issue 11.5 million shares for PHP275 apiece to fund its acquisition of the... Read More

Ayala Land, Eton tie up to build P53-B mixed-use estate

MANILA -- Property developers Ayala Land Inc. (ALI) and Eton Properties Philippines Inc. (EPPI) will jointly invest PHP53 billion to initially develop a 35-hectare mixed-use estate that spans portions of Pasig and Quezon City over the next 10 years.Ma. Carmela Ignacio, assistant vice president of... Read More

IKEA to announce opening date this year

MANILA -- Swedish furniture company IKEA was planning to announce targeted opening date in the Philippines within the year, IKEA Sustainability and Communication Director Lars Svensson said Wednesday.In an interview on the sidelines of Responsible Business conference in Makati, Swedish Ambassador... Read More

Diokno not opposed to teachers' pay hike

MANILA -- Budget and Management Secretary Benjamin Diokno on Wednesday said he was not opposed to any increase in public school teachers’ pay but stressed that this should be done after careful study and the last tranche of state workers’ pay increase by 2019.This after teachers’... Read More

Foreign selling dampens PSEi, peso

MANILA -- Foreign selling hurt both the Philippine Stock Exchange index (PSEi) and the peso on Wednesday after the main stock gauge tracked Wall Street’s performance overnight. PSEi ended its three-day rally after shedding 0.18 percent, or 16.14 points, to 8,848.99 points.The broader All... Read More

Car sales up 18% in 2017 to over 425K units

MANILA -- Sales of automotive vehicle manufacturers in the country rose to 425,673 units in 2017, up 18.4 percent from 359,572 units in 2016, joint report of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed Wednesday.Commercial... Read More

Metrobank plans to raise fresh capital thru SRO

MANILA – Banking giant Metropolitan Bank & Trust Company plans to raise fresh capital to finance the expansion of its loan portfolio and acquisition of a stake in a credit card provider.Metrobank told the local bourse that its board of directors approved on Wednesday a Stock Rights... Read More

PCC to do market studies on 9 priority sectors

MANILA -- The Philippine Competition Commission (PCC) would conduct market studies on nine priority sectors this year to identify competition concerns, PCC Commissioner Stella Luz Quimbo said Wednesday.In a media briefing, Quimbo identified the sectors as rice, meat and poultry, pharmaceuticals,... Read More

PH firm to ramp up AGC factory production after acquisition

MANILA -- TQMP Glass Manufacturing Corp. plans to ramp up its newly acquired flat glass factory from AGC Flat Glass Philippines, Inc. (AGPH) , following the acquisition by the former of 100 percent of the issued and outstanding shares owned by the flat glass manufacturer.On Wednesday, the Japanese... Read More

PSEi sustains rise, peso weakens on investors' wait-and-see stance

MANILA -- Philippines main equities index sustained its rally Tuesday but the peso slightly weakened in line with other currencies in the region.The Philippine Stock Exchange index (PSEi) rose 0.08 percent, or 7.41 points, to 8,865.13 points.A trader said this happened even with the mix performances... Read More

Package 4 of tax reform to simplify tax rates on investment products

MANILA -- Finance officials aim to simplify tax rates on investment products in the Philippines partly to help improve services being offered to the public and address the complex tax rates of financial products.“We just want to clear the underbrush,” Finance Secretary Carlos Dominguez... Read More

DTI focuses program on Lumads this year

MANILA -- The Department of Trade and Industry (DTI) will be focusing its Strike Team Program for Indigenous Peoples (IPs) on lumads this year, Undersecretary for Regional Operations Group Zenaida Maglaya said.Maglaya said DTI will strengthen and expand the reach of Strike Team Program for IPs, now... Read More

Gov't tax-take from sugar-sweetened beverages to hit P52-B this '18

MANILA - - Expected revenues from excise tax on sugar-sweetened beverages is seen to contribute some PHP52.03 billion to government coffers this 2018.Department of Finance (DOF) data showed that based on the medium-term revenue program, excise tax from sugar-sweetened beverages (SSB) is the fourth... Read More

Phoenix Petroleum expands into bitumen business

MANILA -- Phoenix Petroleum Philippines Inc. is expanding its portfolio of petroleum products by entering into a joint venture deal with a Thailand-based company and a local firm to market and distribute bitumen, one of the by-products of crude oil refining.Phoenix told the local bourse that its... Read More

PH pushes for ASEAN collaboration in promoting agri cooperatives

MANILA -- The Philippines on Tuesday called for increased collaboration with other member states of the Association of Southeast Asian Nations (ASEAN) in promoting agricultural cooperatives deemed important for poverty reduction in the region.Cooperative Development Authority (CDA) Chairman Orlando... Read More

GSIS eyes USD800-M overseas investment in 2018

MANILA -- State pension fund Government Service Insurance System (GSIS) will invest some USD800 million overseas this year as it vies to be more aggressive in sustaining its actuarial life strong, among others.In a briefing Tuesday, GSIS President and General Manager Jesus Clint Aranas said they... Read More

Cebu Landmasters eyes P7-B reservation sales this year

MANILA -- Listed property developer Cebu Landmasters Inc. (CLI) targets to hit PHP7 billion in reservation sales this year, up 52 percent from PHP4.58 billion posted last year. CLI attributed its exceptional performance last year mainly to newly-launched residential projects, which are now almost... Read More