Business
Gov’t sees steady inflation downtrend till yearend
March 5, 2019, 5:41 pm
MANILA -- Economic managers are optimistic the downward path of inflation will continue for the rest of the year on the back of reforms recently rolled out, after the country’s inflation declined to an 11-month low of 3.8 percent in February 2019. “(Last month’s inflation) shows the… Read More
PhilMech to prioritize low rice producing provinces
March 5, 2019, 4:31 pm
MANILA -- As the implementation of the Rice Tariffication Law starts Tuesday, the Philippine Center for Postharvest Development and Mechanization (PhilMech) said it will prioritize low production areas, consisting of some 1,212 municipalities in 57 provinces identified by the Department of… Read More
Slower inflation in February not surprising
March 5, 2019, 3:54 pm
MANILA -- Inflation in the Philippines decelerated anew in February to 3.8 percent, which a ranking Bangko Sentral ng Pilipinas (BSP) official said is in line with their expectations. BSP Deputy Governor Diwa Guinigundo, in a reply to questions from the Philippine News Agency (PNA), said the… Read More
TUCP set to endorse 12 'pro-labor' senatorial bets
March 5, 2019, 3:19 pm
MANILA -- The Trade Union Congress of the Philippines (TUCP) announced that it is currently surveying all its affiliate organizations in the manufacturing, services and agriculture sectors in order to come up with 12 "pro-labor" senatorial candidates who will then be endorsed for the midterm… Read More
Palace hails slower 3.8% inflation in February
March 5, 2019, 1:34 pm
MANILA -- Malacañang on Tuesday welcomed the Philippine Statistics Authority (PSA) report showing that inflation finally hit its target as it further slowed down to 3.8 percent in February 2019. Presidential Spokesperson Salvador Panelo said this deceleration showed that the government policies… Read More
Bank exec says Diokno has ‘bird's-eye view’ of economy
March 5, 2019, 12:51 pm
MANILA – A ranking BDO Unibank Inc. official is optimistic on the appointment of former Department of Budget and Management Secretary (DBM) Benjamin Diokno as Bangko Sentral ng Pilipinas (BSP) governor. In reply to a phone message from the Philippine News Agency (PNA) Monday night, BDO chief… Read More
WB urges PH to foster competition in key sectors
March 5, 2019, 5:55 am
MANILA -- The Philippines needs to remove regulatory obstacles to competition on key services sectors and adopt policies to improve productivity which are keys to boosting the country’s economic growth, according to a new World Bank (WB) study released on Monday. “Reforms only on services… Read More
Local stocks rise, peso sideways at trading week's start
March 4, 2019, 9:45 pm
MANILA -- Rising hopes for a US-China trade agreement continue to boost sentiments and allowed the main equities gauge to finish Monday’s trading up but the peso closed sideways against the greenback as the trading week went off to a start. Philippine Stocks Exchange index (PSEi) rose 0.44… Read More
SSS chief eyes members' contribution hike by Q2
March 4, 2019, 9:19 pm
MANILA – Social Security System (SSS) President and Chief Executive Officer (CEO) Emmanuel Dooc expects the increase in members contribution to be implemented by April or May, once the Implementing Rules and Regulations (IRR) are put in place. In an interview at the sidelines of the public… Read More
Modest oil price adjustment Tuesday
March 4, 2019, 9:03 pm
MANILA -- Local oil companies are again set to adjust the prices of their products effective 6am on Tuesday, although this time, motorists are likely to feel it either way. In separate announcements Petron Corporation, Pilipinas Shell, PTT Philippines, TOTAL and Eastern Petroleum announced a… Read More
More Filipinos seeking intellectual property protection
March 4, 2019, 8:33 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) reported Monday that applications for intellectual property protection significantly increased in 2018. IPOPHL said intellectual property filings last year rose 15 percent to 44,461 from only 38,801 applications in 2017.… Read More
Monaco-based firm eyes import of coconut oil, products
March 4, 2019, 6:14 pm
MANILA -- The agricultural sector seems to be gaining from the various inter-country visitations of this administration, after an international company makes an arrangement to buy Philippine produce. The Department of Agriculture sealed a deal with Monte Carlo-based Arteks Generation, a huge name… Read More
BTr rejects 91, 364-day T-bill bids for high yield demand
March 4, 2019, 5:43 pm
MANILA -- Bureau of the Treasury’s auction committee on Monday rejected bids for the 91 and 364-day Treasury bills (T-bills) but partially awarded the 182-day paper after banks demanded overly high yields. Had the auction committee awarded the bellwether 91-day T-bill, its rate would have risen… Read More
Sufficient power supply during summer assured
March 4, 2019, 4:47 pm
MANILA -- Energy Undersecretary Felix William Fuentebella on Monday assured consumers that the country has sufficient power supply to last from March until June this year even with the onset of a weak El Niño. Citing reports from the Philippine Atmospheric, Geophysical and Astronomical Services… Read More
Aboitiz gets original proponent status for Laguindingan Airport
March 4, 2019, 3:54 pm
MANILA -- The Civil Aviation Authority of the Philippines (CAAP) has given Aboitiz InfraCapital Inc. (AIC) the green light on its proposal for the operations and maintenance of Laguindingan Airport in Misamis Oriental. In a statement on Monday, the AIC said its unsolicited proposal was granted… Read More
DOF, DILG targets local execs in illicit tobacco trade
March 4, 2019, 1:39 pm
MANILA -- Finance Secretary Carlos Dominguez III has directed the Bureau of Internal Revenue (BIR) to coordinate with the Department of the Interior and Local Government (DILG) in filing charges against local government executives found responsible for neglecting to check the presence of, if not… Read More
New heads of Landbank, DBP, PhilEXIM sworn in
March 3, 2019, 3:16 pm
MANILA -- Finance Secretary Carlos Dominguez III has sworn into office on Friday Cecilia Borromeo as President-CEO of the Land Bank of the Philippines (LANDBANK), Emmanuel Herbosa as President-CEO of the Development Bank of the Philippines (DBP) and Alberto Francisco Pascual as President-CEO of… Read More
Foreigners working in PH must pay taxes: DOF
March 3, 2019, 12:30 pm
MANILA -- The Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) are working closely with other government agencies, including the justice and labor departments, to ensure that foreign nationals working in Philippine offshore gaming operations (POGO) comply with the country’s… Read More
China, partner countries to bring BRI to new heights
March 3, 2019, 11:40 am
BEIJING – Countries under the China-led Belt and Road Initiative (BRI) are expected to bring this cooperation to new heights as the Belt and Road Forum for International Cooperation will take place here in April. Guo Weimin, spokesperson of the second session of the 13th National Committee of… Read More
No debt trap for developing countries: CN political advisory body
March 2, 2019, 7:34 pm
BEIJING -- The Chinese government does not plot any debt trap for developing countries, where it extends loans to fund infrastructure projects, China’s top political advisory body said in a press conference at the Great Hall of the People on Saturday. Guo Weimin, spokesperson of the second… Read More
