Business

Nissan PH posts all-time high sales in August

Nissan PH posts all-time high sales in August

September 19, 2018, 7:04 pm

MANILA -- Nissan Philippines, Inc. managed in August 2018 to post its highest monthly sales despite challenging times for the country's motor vehicle industry due to a steep hike in excise taxes effective this year. Nissan Philippines reported Wednesday that the company sold a total of 4,500 units… Read More

Robust growth seen to widen PH's current account deficit

Robust growth seen to widen PH's current account deficit

September 19, 2018, 7:02 pm

CLARK, Pampanga -- An economist of Barclays forecasts continued widening of the Philippines’ current account deficit to above two percent of gross domestic product (GDP) as the country imports more to meet rising domestic demand, while not exporting nearly as much. The current government’s… Read More

 Barclays keeps bullish outlook for PH

Barclays keeps bullish outlook for PH

September 19, 2018, 6:19 pm

CLARK, Pampanga -- An economist of Barclays remains optimistic about an above six percent expansion for the Philippine economy in 2018 amid risks from elevated inflation. In a briefing at the sidelines of the site visit by economists, bank analysts and portfolio strategists at the New Clark City,… Read More

Gov’t to gain P5.3-B for hiking processed meat tariff

Gov’t to gain P5.3-B for hiking processed meat tariff

September 19, 2018, 5:36 pm

MANILA -- An industry group said the government will gain some PHP5.3 billion in revenues if it will increase the tariff on mechanically deboned meat (MDM), or the raw materials used for processed meat products, to 40 percent from the current 5-percent rate. During the public hearing in the Tariff… Read More

ADB sees PH economy sustaining growth despite inflation

ADB sees PH economy sustaining growth despite inflation

September 19, 2018, 5:34 pm

MANILA -- The Asian Development Bank’s (ADB) chief economist remains optimistic the Philippine economy will sustain its growth momentum on strong domestic demand and public and private investments, despite rising inflation. “If you look around the past experiences in developing countries,… Read More

NFA rice soon to be available in supermarkets

NFA rice soon to be available in supermarkets

September 19, 2018, 2:56 pm

MANILA -- Subsidized rice will soon be available in supermarkets, as part of the government’s measure to lower the prices of the Filipino staple. On Tuesday, the Department of Trade and Industry, National Food Authority (NFA), and Philippine Amalgamated Supermarkets Association (PAGASA) signed a… Read More

PH economy still strong amid adversities: Finance chief

PH economy still strong amid adversities: Finance chief

September 19, 2018, 7:28 am

MANILA -- The Philippines is currently experiencing challenges such as elevated inflation and current account deficit, but Finance Secretary Carlos Dominguez III said this is just a phase and the economy remains strong. “We would like to encourage everyone to take a long view of our situation as… Read More

 Inflation pressures from weaker Peso seen to ease during holidays

Inflation pressures from weaker Peso seen to ease during holidays

September 18, 2018, 9:26 pm

MANILA – Monetary officials say that inflation pressures generated by the weaker peso are likely to ease towards the Christmas holidays even as they indicated that Typhoon Ompong’s (Mangkhut) effect on the larger economy is likely to be manageable. Bangko Sentral ng Pilipinas (BSP) Deputy… Read More

Construction of SEA Games facilities uninterrupted by storm

Construction of SEA Games facilities uninterrupted by storm

September 18, 2018, 7:24 pm

MANILA -- Typhoon Ompong failed to hold back ongoing projects within Clark, including the building of sports facilities for the 2019 Southeast Asian (SEA) Games, Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Vivencio Dizon said. In a press conference… Read More

Peso stays afloat, local stocks down on trade war jitters

Peso stays afloat, local stocks down on trade war jitters

September 18, 2018, 7:23 pm

MANILA -- Trade war concerns along with fears of a further rise in domestic inflation due to Typhoon Ompong's (Mangkhut) devastation increased risk-off sentiment resulting in another slide of the Philippines main equities gauge but the peso improved in line with its regional peers. The Philippine… Read More

DOTr set to negotiate Bulacan airport project with SMHC

DOTr set to negotiate Bulacan airport project with SMHC

September 18, 2018, 7:22 pm

MANILA -- The Department of Transportation (DOTr) announced that it will be negotiating with the San Miguel Holdings Corp. (SMHC) the revised concession agreement for the Bulacan International Airport. DOTr Undersecretary Ruben Reinoso, in a press conference during the Philippine Economic Briefing… Read More

USD500M loan from WB available for 'Ompong' rehab

USD500M loan from WB available for 'Ompong' rehab

September 18, 2018, 5:04 pm

MANILA -- Post-Typhoon Ompong (Mangkhut) funding requirements can be augmented by a USD500 million loan from the World Bank (WB) that can be tapped once President Rodrigo R. Duterte declares a state of calamity. This was announced by Finance Secretary Carlos Dominguez III during the Philippine… Read More

Inflation, typhoon devastation only temporary setbacks: Pernia

Inflation, typhoon devastation only temporary setbacks: Pernia

September 18, 2018, 5:02 pm

MANILA -- The inflation surge coupled with typhoon devastation are only temporary setbacks for the Philippine economy and its poverty reduction program, Socioeconomic Planning Secretary Ernesto Pernia said Tuesday. In a press conference during the Philippine Economic Briefing, Pernia said the… Read More

Ease of doing business consultations done in 2 weeks: DTI

Ease of doing business consultations done in 2 weeks: DTI

September 18, 2018, 5:00 pm

TACLOBAN CITY – The Department of Trade and Industry (DTI) will complete the public consultations needed for drafting the implementing rules and regulations (IRR) of Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 within two weeks. After… Read More

Globe, Smart services restored in most Ompong-hit areas

Globe, Smart services restored in most Ompong-hit areas

September 18, 2018, 2:56 pm

MANILA -- Globe Telecom reported that its network repair crews have managed to restore services to the municipality of Baggao in Cagayan province, a town hard hit by Typhoon Ompong. “This means all Globe cell sites in all localities in Cagayan, Apayao, and Ilocos Norte are now fully restored,"… Read More

Another hike in pump prices slated Sept. 18

Another hike in pump prices slated Sept. 18

September 17, 2018, 9:18 pm

MANILA -- Local oil companies are again set to implement increases in the prices of their petroleum products effective Tuesday, Sept. 18, as the uptick in world crude prices continue. In separate announcements, spokesmen for these firms announced price increases of PHP0.50 per liter of unleaded… Read More

BSP enhances guidelines on currency rate risk protection program

BSP enhances guidelines on currency rate risk protection program

September 17, 2018, 9:17 pm

MANILA -- The Monetary Board (MB) approved the enhanced guidelines on the Currency Rate Risk Protection Program (CRPP) aimed at easing the demand pressures in the foreign exchange spot market, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement over the weekend. The CRPP is a hedging… Read More

Local markets flat on investors' risk-off sentiment

Local markets flat on investors' risk-off sentiment

September 17, 2018, 8:41 pm

MANILA -- The week's trading began with indices little changed as investors continue to weigh developments overseas. PSEi gained 0.006 percent, or 0.41 points, to 7,413.56 points, which Landbank market economist Guian Angelo S. Dumalagan said is similar to the path of US stocks Friday last week.… Read More

PH, Fujian bizmen ink 15 deals

PH, Fujian bizmen ink 15 deals

September 17, 2018, 8:40 pm

MANILA -- Fifteen cooperation agreements and joint venture deals were signed with companies based in Fujian province, further enhancing trade and investment relations in sectors of agriculture, tourism, and real estate between the Philippines and China. A delegation from the Fujian government, led… Read More

Espenilla discounts off-cycle action ahead of policy meeting

Espenilla discounts off-cycle action ahead of policy meeting

September 17, 2018, 7:32 pm

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. discounted any off-cycle actions ahead of the Monetary Board's (MB) meeting on September 27 despite the impact of inflation which may have been exacerbated by the wrath of Typhoon Ompong (Mangkhut). “We will follow the… Read More