Business
BTr rejects bids for 91-day T-bill
September 17, 2018, 7:05 pm
MANILA -- Investors’ continued demand for high yields constrained the Bureau of the Treasury’s (BTr) auction committee to reject bids for the bellwether 91-day Treasury bill (T-bill) Monday. Had the auction committee made a full award for this tenor, rate of the debt paper would have risen to… Read More
Marawi Bond issuance possible by October, November
September 17, 2018, 6:46 pm
MANILA -- Issuance of the planned Marawi Bond may happen either in October or November this year once funding requirements have been finalized, National Treasurer Rosalia De Leon said. In an interview at the sidelines of the budget hearing in the House of Representatives Monday, De Leon said date… Read More
NGO rolls out P3-patterned micro-finance program
September 17, 2018, 5:06 pm
MANILA -- The Center for Agriculture and Rural Development (CARD), Inc., a microfinance non-governmental organization, has surpassed its initial commitment in rolling out financial services patterned after government’s Pondo sa Pagbabago at Pag-asenso or P3 Program. This, after the Department of… Read More
DTI to ensure flow of goods during ‘Ompong’
September 15, 2018, 4:38 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez said on Saturday that the agency has set up a command center that will ensure the continuous flow of basic necessities and prime commodities, particularly in areas hit by Typhoon “Ompong.” “Command center is linked with… Read More
SM opens Bicol's biggest shopping mall in Legazpi City
September 15, 2018, 2:29 pm
LEGAZPI CITY – SM City opened its biggest shopping mall in this premier city of Bicol region Friday. The opening of SM Super Mall, which is located on the 4.5-hectare land area adjacent to the Ibalong Centrum for Recreation and the City Grand Terminal at the heart of the city’s central… Read More
Dominguez discounts off-cycle move
September 14, 2018, 9:44 pm
MANILA – Finance Secretary Carlos Dominguez III is optimistic the country's high inflation rate today will not affect the national budget and does not need an off-cycle measure from Bangko Sentral ng Pilipinas (BSP). In an interview after his meeting with a lawmaker Friday, Dominguez said one… Read More
NAIA Consortium gains original proponent status on NAIA rehab
September 14, 2018, 9:25 pm
MANILA – The Department of Transportation (DOTr) and the Manila International Airport Authority (MIAA) have granted original proponent status to the NAIA Consortium on the proposed PHP102-billion rehabilitation of the Ninoy Aquino International Airport (NAIA) for 15 years. The initiative aims to… Read More
Higher importation sustains PH BOP deficit in Q2
September 14, 2018, 8:53 pm
MANILA -- Higher importation as a result of increased domestic demand continues to cause deficits in the Philippines’ current account, which in the second quarter of 2018 stood at USD2.9 billion. In a briefing Friday, Bangko Sentral ng Pilipinas (BSP) Department of Economic Statistic (DES) head… Read More
BPO sector critical in stronger middle class
September 14, 2018, 7:59 pm
MANILA -- The Information Technology and Business Process Association of the Philippines (IBPAP) has reiterated the industry's importance in economic advancement amid moves to slash government incentives. At the inauguration of another business process outsourcing (BPO) firm Thursday, IBPAP… Read More
Peso recovers but local shares down on profit-taking
September 14, 2018, 7:30 pm
MANILA -- The week's trading came to a close, seeing a recovery in the Philippine peso, but profit-taking got the better of the Philippine Stock Exchange index (PSEi) as investors cashed in on Thursday’s gains. The local currency ended the week at 53.97 from 54.07 a day ago, which Landbank… Read More
9-point plan seen to decelerate inflation
September 14, 2018, 7:13 pm
MANILA -- The administration's economic managers have proposed nine measures to immediately address food supply issues to bring inflation down by an estimated 2.4 percent. Budget Secretary Benjamin Diokno, in an interview after economic officials' meeting with Sen. Loren Legarda on Friday, said… Read More
BOI links big firms, MSMEs for inclusive business
September 14, 2018, 5:51 pm
MANILA -- The Board of Investments (BOI) said it will continue to promote the inclusive business model by encouraging stronger partnerships between big companies and smaller, community-based businesses. The BOI revealed that it has facilitated matching sessions between 75 micro, small, and medium… Read More
BOC told to release seized food items for relief ops
September 14, 2018, 9:30 am
MANILA – Finance Secretary Carlos Dominguez III has ordered Customs Commissioner Isidro Lapeña to release all seized food items in its warehouses so they can be added to the government's relief goods inventory in preparation for Typhoon Ompong. “Sid (Lapeña), Please release all seized rice… Read More
Bank of China cite benefits of direct RMB-Peso conversion
September 13, 2018, 9:17 pm
MANILA – The renewed economic ties between the Philippines and China should prompt Filipino businessmen into using the renminbi directly in their transactions with Chinese counterparts. In a statement, the Bank of China (BOC) said the Bangko Sentral ng Pilipinas (BSP) has recently given banks… Read More
Call centers now demanding ‘near-native’ English speakers
September 13, 2018, 7:21 pm
MANILA -- Call center applicants should learn to speak English with American, Australian, or British accents as business process outsourcing (BPO) clients have expressed preference for “near-native” English speakers. During the formal launch of Teleperformance's 19th site in the country on… Read More
Where are American investors? Dominguez asks US envoy
September 13, 2018, 7:17 pm
MANILA -- Finance Secretary Carlos Dominguez III has questioned the absence of American investors in the Duterte administration’s flagship infrastructure project to develop the Clark Freeport Zone, a former United States military airbase, into the country’s next big metropolis. In a meeting… Read More
Local markets bounce back on weak US economic reports
September 13, 2018, 6:00 pm
MANILA -- Bargain hunting allowed the Philippine Stock Exchange index (PSEi) to cut short its eight-day losing streak Thursday, which also gave the peso a much needed boost. PSEi gained 0.92, or 68.17 points, to 7,517.37 points, which Landbank market economist Guian Angelo S. Dumalagan attributed… Read More
Filipino youth more workforce ready with K+12
September 13, 2018, 5:59 pm
MANILA -- Teleperformance Philippines Managing Director Travis Coates said the implementation of the K+12 Basic Education Program is better preparing the Filipino youth to enter the workforce. Coates said the company is also benefiting from the fruits of the K+12, as senior high school graduates… Read More
Gatchalian open to retaining old tax incentive under TRABAHO Bill
September 13, 2018, 9:51 am
MANILA – Senator Sherwin Gatchalian on Wednesday said he is open to retaining the 5-percent gross income earned (GIE) tax incentive under the Tax Reform for Attracting Better and High-Quality Opportunities (TRABAHO) Bill, the second package of the tax reform program. On the sidelines of the… Read More
ADB pushes for further private sector role on transport infra
September 13, 2018, 7:54 am
MANILA -- Countries in the Asia Pacific region should craft policies that enable the growth of private sector participation on transport infrastructure projects, the Asian Development Bank (ADB) said. ADB President Takehiko Nakao said the private sector has a significant role on infrastructure… Read More